Head and Neck Cancer Diagnostics Market Expected to Reach at CAGR of 10.5% up to 2023 - PHILIPS HEALTHCARE, GE HEALTHCARE, SIEMENS HEALTHCARE, VARIAN MEDICAL SYSTEMS, SHIMADZU CORPORATION, ADDENT

Global Head and Neck Cancer Diagnostics Market Highlights
Head and neck cancer is among the 10 most common types of cancers worldwide. This form of cancer is especially prevalent in regions having high alcohol and tobacco intake. Early detection and prompt treatment offer the best chance for cure. The global head and neck cancer diagnostics market is expected to register a CAGR of 10.5% during the forecast period of 2018-2023.

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Major Players:
PHILIPS HEALTHCARE, GE HEALTHCARE, SIEMENS HEALTHCARE, VARIAN MEDICAL SYSTEMS, SHIMADZU CORPORATION, ADDENT, INC., IDENTAFI, and VELSCOPE VX, among others.

Rising Incidences of Target Diseases
The rising incidences in the number of cases of head and neck cancer have always been the major driving factor for this market. It is estimated that nearly 550,000 new cases of head and neck cancer are diagnosed globally, each year. It is estimated that nearly 6% of the malignancies occur in the United States. According to the American Cancer society nearly 40,000 people in the United States were diagnosed with head and neck cancer, of which, around 12,000 died in 2014 alone. This number is estimated to increase if serious measures are not taken. Head and neck cancer account for nearly 5-6% of the cancer cases in the United States alone. It is the 15th most prevalent cancer in Europe, with nearly 56,000 cases diagnosed annually. This huge disease burden will help in the growth of the market.
The rise in geriatric population worldwide, combined with government and private body initiatives are some of the other factors contributing to the growth of the market.

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Excise Duty on Sale of Medical Devices in Developed Markets
The excise duty imposed on the medical devices in developed countries is causing a major burden on the manufacturers as well as buyers. The companies manufacturing these devices are constantly trying to remove this excise tax. The investment in medical devices in 2013 fell 17% from the previous year. Also, investment funding is shifting towards less risky later-stage medical device companies instead of smaller earlier stage ventures. These trends are worrisome since early-stage investment companies can promote innovative and disruptive medical device technologies, which introduce new therapeutic benefits or quantum improvements in patient care.
Additionally, low adoption rate in patients for digital technology-based systems, such as conventional CT and MRI scanners, is also restraining the head and neck cancer diagnostics market.

Africa and Asia-Pacific to have the Highest Incidence of Head and Neck Cancer
The global head and neck cancer diagnostics market is segmented by diagnostic imaging equipment, endoscopy screening equipment, bioscopy screening tests, dental diagnostic methods, and geography. By geography, it is segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
Africa and Asia-Pacific, along with parts of Europe, and certain regions in South America, have the highest incidence of head and neck cancer cases, as these regions are prone to higher intake of alcohol and tobacco products. In Asia-Pacific and Africa, India, China, and South Africa are the biggest markets for the overall head and neck cancer diagnostics market.

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This release was published on openPR.