Brain Cancer Diagnostics Market: Increase in Prevalence of Brain Cancer Worldwide
The brain cancer diagnostics market was valued at US$ 844.63 million in 2021 and is projected to reach US$ 2,476.14 million by 2028; it is expected to grow at a CAGR of 16.6% from 2021 to 2028.
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Thermo Fisher Scientific Inc.; Siemens Healthineers AG; GE Healthcare; MDxHealth; NantOmics; Biocept, Inc.; Koninklijke Philips N.V.; Canon Medical Systems; Hitachi, Ltd.; and Neusoft Medical Systems are among the leading companies operating in the brain cancer diagnostics market.
Based on cancer type, the brain cancer diagnostics market is segmented into Astrocytomas, Glioblastoma Multiforme, Ependymomas, and others. The Glioblastoma Multiforme segment held the largest share of the market in 2021, and the same segment is estimated to register the highest CAGR in the market during the forecast period. Growth of the Glioblastoma Multiforme segment is attributed to the increased prevalence of this type of brain cancer.
Based on diagnostic type, the brain cancer diagnostics market is segmented into imaging test, lumbar puncture, biopsy, molecular testing, and others. The imaging test segment held the largest share of the market in 2021, and the molecular testing segment is anticipated to register the highest CAGR in the market during the forecast period. The imaging test segment is further classified into magnetic resonance imaging (MRI), computed tomography (CT), and positron emission tomography (PET).
The COVID-19 pandemic has become the most significant challenge across the world. It has disturbed various trades and businesses across the world. As a result of the COVID-19 pandemic, many diagnostic departments have experienced a rapid decline in imaging case volumes. This has important implications on the short-term and long-term economic stability of neurological procedures across all healthcare practice settings. Due to lockdowns imposed by governments across the world, many neurological procedures were delayed, and supply chain restrictions limited the availability of resources needed to deliver brain cancer diagnostic services.
Brain cancer is caused due to extracellular growth of the cells in the brain that causes tumors. Tumors can be primary brain tumors and secondary brain tumors. Primary brain tumors are formed in the brain and do not spread to other body parts, whereas secondary tumors, also known as metastases, are those cancers that began in another part of the body. Symptoms of brain cancer include headaches, nausea, fatigue, drowsiness, and many more.
Similarly, Cancer Research UK estimated that around 12,100 new cases of brain, other CNS, and intracranial tumors are diagnosed in the UK each year, which makes it around 33 cases per day (2015–2017). Brain tumors and other central nervous systems and intracranial tumors are the ninth most common malignancies in the UK, accounting for 3% of all new cancer cases (2017). Also, it is the eighth most common cancer in females in the UK with around 6,100 new cases in 2017. In males in the UK, brain, other CNS, and intracranial tumors are the eleventh most common cancer, with about 5,800 new cases in 2017. Incidence rates for brain tumors are projected to rise by 6% in the UK between 2014 and 2035, to 22 cases per 100,000 people by 2035.
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