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Cancer Diagnostics Market Forecast to 2025 | Siemens Healthineers, Hologic, Inc. , BD, Becton Dickinson, GE Healthcare, Thermo Fisher Scientific, Roche, Illumina, Abbott, QIAGEN
Cancer Diagnostics Market
Global Cancer Diagnostics Market is expected to reach USD 40.10 billion by 2024 from USD 16.55 billion, at a CAGR of 11.7% in the forecast period.
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Forecasting Regional and Global Analysis on Cancer Diagnostics Market By Technology (ELISA, ELFA, PCR, NGS, Immunohistochemistry, Microarray, Imaging (MRI, CT, PET, Ultrasound, Mammography), Biopsy), By Application (Breast Cancer, Lung Cancer, Colorectal Cancer, Melonoma) And Geography.
Key Points:
GE Healthcare is going to dominate the cancer diagnostics market, by imaging following with
· Siemens Healthcare GmbH
· Hologic, Inc,
· Becton, Dickinson & Company.
Thermo Fisher Scientific, Inc. is going to dominate the cancer diagnostics market, by platform based following with Illumina, Inc. along with others such as Roche Diagnostics, Abbott Laboratories, Inc. Qiagen.
¨ Next Generation Sequencing (NGS) market is growing with the highest CAGR.
¨ Globally biopsy is driving the market with highest market share.
¨ Magnetic Resonance Imaging (MRI) is dominating the cancer diagnostics imaging market.
The major factors driving the growth of Cancer Diagnostics Market are the growing with aging population worldwide, government initiatives for funding, and awareness about cancer. These factors increase the demand for cancer diagnostic products. On the other hand, stringent regulations imposed by international and local authorities and shortage of skilled and trained professionals may hinder the growth of the market.
The major factors driving the growth of this market are the growing ageing population worldwide, government initiatives for funding and awareness about cancer. These factors increase the demand for cancer diagnostic products. On the other hand, stringent regulations imposed by international and local authorities and shortage of skilled and trained professionals may hinder the growth of the market.
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Market Segmentation: Cancer Diagnostics Market
· The global cancer diagnostics market is segmented on the basis of technology, application, and geography.
· The global cancer diagnostics market is segmented into two types,
• Platform based
• Instrument based
· In 2017, the cancer diagnostics instrument based segment is expected to dominate the market with a share of 68.8% and is expected to continue this trend till 2024.
· Cancer diagnostics platform based market is segmented into
• Polymerase chain reaction (PCR)
• In situ hybridization (ISH)
• Immunohisto chemistry (IHC)
• Next generation sequencing (NGS)
• DNA microarrays
• Flow cytometry and others
· Cancer Diagnostics instrument based market is segmented into imaging and biopsy. Imaging is further segmented into magnetic resonance imaging (MRI), computed tomography (CT), positron emission tomography- computed tomography (PET-CT), mammography, and ultrasound.
· On the basis of application, the market is segmented into lung cancer, breast cancer, colorectal cancer, melanoma and others.
Key Drivers:
Some of the major factors driving the market for cancer diagnostics market are growing ageing population worldwide, government initiatives for funding and awareness about cancer. These factors increase the demand for cancer diagnostics products. Increasing prevalence of cancer, key players focusing are on strategic decisions and technological advancements are the major factors driving the growth of the cancer diagnostics market.
¨ Stringent regulations imposed by the international and local authorities and shortage of the skilled and trained professionals are the factors which may hinder the growth of this market.
¨ Many companies are increasingly focusing on Next Generation Sequencing (NGS) and biopsy products in order to strengthen their product portfolios in the cancer diagnostics market.
¨ Increasing demand for Magnetic Resonance Imaging (MRI) and Next Generation Sequencing (NGS) will drive the market in future.
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