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Cancer Diagnostics Market 2020 How the Business Will Grow in 2025? Bio-Rad Laboratories, bioM?rieux, Becton, Dickinson and Company (BD), Abbott Laboratories, Alere, Biocartis, Siemens Healthcare, GE Healthcare

03-26-2020 10:15 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: offers 2019 report on global Cancer Diagnostics market that evaluates industry growth trends through historical data and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the period 2019-2025.

Germany cancer diagnostics market is expected to witness 9.0% CAGR over the forecast timeframe. High technological adoption coupled with significant expenditure on healthcare will drive cancer diagnostics business growth in the country. Risk of several type of cancer increases with age, thus, growing geriatric population base will boost Germany cancer diagnostics market growth over the coming years.

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Cancer Diagnostics Market will exceed USD 170.0 billion by 2025. Growing number of diagnostic as well as research laboratories coupled with rising awareness about early disease diagnosis will surge the demand for cancer diagnostics over the forecast timeline. Increasing healthcare spending, emerging healthcare infrastructure of developing countries and growing awareness about cancer will positively impact the industry growth.

Advancements in cancer diagnostics allowing real time diagnosis and faster results will boost sales of cancer diagnostic kits. Development of liquid biopsy and other minimal invasive techniques to fulfil consumer demand of advanced and less invasive cancer diagnostic methods will drive the market growth over the coming years. However, high cost of cancer diagnostics coupled with risks related to exposure to radiation during cancer diagnosis will obstruct industry expansion to certain extent over the coming years.

Cancer research institutes end-use segment accounted for USD 6.4 billion in 2018 and will witness fastest growth during the forecast period owing to rising demand for advanced cancer diagnostic tools and heavy investment by industry players to accelerate research activities pertaining to cancer diagnosis. Major companies operating in the industry are collaborating with research institutes to strengthen their R&D and advanced new product development process will further propel segmental growth over the projected years.

Colon and rectal cancer type segment is estimated to witness significant growth during the forecast period to reach USD 16.9 billion by 2025. The rising incidence of colorectal cancer among young adults has elevated the demand for colon and rectal cancer diagnostic products. According to the American Cancer Society (ACS), cases of colorectal cancer among people aged under 50 years has increased by 51% since 1994. Over 16,000 people younger than 50 years are diagnosed annually with colorectal cancer, accelerating the demand for real time disease monitoring diagnostic kits. Aforementioned factors will drive colon and rectal cancer diagnostics market over the projected timeframe.

Increasing number of people suffering from cancer will act as primary factor for driving cancer diagnostics market. According to the WHO, cancer is second leading cause of mortality in the world and responsible for around 9.6 million deaths globally in 2018. Unhealthy diet, tobacco and alcohol consumption along with physical inactivity are major causative factors for target disease. Thus, rising causative factors will escalate number of cancer cases thereby, stimulating the industry growth.

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Bio-Rad Laboratories, bioM?rieux, Becton, Dickinson and Company (BD), Abbott Laboratories, Alere, Biocartis, Siemens Healthcare, GE Healthcare, Qiagen, BioCare Medical, Cancer Genetics, Hologic, Roche, and Sysmex Corporation are some the major players operating in the cancer diagnostics industry. Companies are focusing on new product development to gain significant share of lucratively growing industry. Additionally, strategic growth initiatives such as partnerships and collaborations are adopted frequently by these players.

Table of Content:

Chapter 1. Methodology
Chapter 2. Executive Summary
Chapter 3. Cancer Diagnostics Industry Insights
Chapter 4. Cancer Diagnostics Market, By Application
Chapter 5. Cancer Diagnostics Market, By Cancer Type
Chapter 6. Cancer Diagnostics Market, By End-use
Chapter 7. Cancer Diagnostics Market, By Region
Chapter 8. Company Profiles

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Related Report:

Global Cancer Diagnostics Market Research Report 2019

This report mainly covers cancer diagnostics market. Cancer is a group of diseases involving abnormal cell growth with the potential to invade or spread to other parts of the body. This report focuses on Cancer Diagnostics volume and value at global level, regional level and company level. From a global perspective, this report represents overall Cancer Diagnostics market size by analyzing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, China and Japan.

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