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Next-Generation Cancer Diagnostics Market worth $44.36 billion by 2030, growing at a CAGR of 24.12% - Exclusive Report by 360iResearch
Next-Generation Cancer Diagnostics Market | 360iResearch
The Global Next-Generation Cancer Diagnostics Market to grow from USD 9.77 billion in 2023 to USD 44.36 billion by 2030, at a CAGR of 24.12%.
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The next-generation cancer diagnostics market encompasses the latest technological advancements in the tools, techniques, and methodologies utilized to detect and characterize cancers. This market focuses on innovations that offer enhanced accuracy, sensitivity, and specificity compared to traditional diagnostic methods. It includes genomic, proteomic, and epigenomic analysis, imaging techniques, and bioinformatics tools for early detection, prognosis, and cancer treatment monitoring. Several factors drive the expansion of next-generation cancer diagnostics, including the increasing global prevalence of cancer, advancements in genomic sequencing technologies, and the growing emphasis on personalized medicine. Furthermore, government initiatives and funding for cancer research contribute significantly to market growth. Integrating artificial intelligence and machine learning in diagnostics also presents opportunities for enhanced precision in cancer detection and prognosis. Despite the promising development, the next-generation cancer diagnostics market faces several limitations and challenges. High costs associated with advanced diagnostic technologies can limit access to these tools, particularly in low- and middle-income countries. Moreover, the complexity of cancer biology and the variability in tumor types pose challenges in developing universally effective diagnostic solutions. Regulatory hurdles and the need for robust clinical validation also slow down the market's pace of innovation. However, recent developments in liquid biopsy, circulating tumor DNA (ctDNA) analysis, and non-invasive imaging techniques have opened new avenues for early cancer detection and monitoring. These advancements present significant opportunities for market growth. Moreover, the application of next-generation sequencing (NGS) in cancer diagnostics continues to evolve, offering the potential to discover novel biomarkers and therapeutic targets.
In the Americas, particularly the United States, next-generation cancer diagnostics are experiencing rapid advancements, largely driven by significant investments in research and development. The focus is largely on precision medicine and non-invasive diagnostic techniques, such as liquid biopsies that detect circulating tumor DNA. The EMEA region shows a diverse landscape in adopting and developing next-generation cancer diagnostics. Europe leads within the region, with several countries incorporating genomic sequencing and biomarker analysis into standard cancer care, supported by strong healthcare systems and public healthcare policies. The Middle East, particularly countries such as Israel and the United Arab Emirates, are rapidly emerging as innovative hubs for medical technology, including cancer diagnostics. Africa faces more challenges, including resource limitations, but progress is being made through international partnerships and initiatives to improve cancer care infrastructure and accessibility. The Asia-Pacific region is witnessing significant growth in the next-generation cancer diagnostics market, driven by rising cancer prevalence, growing healthcare expenditure, and a surge in awareness about early cancer detection. Japan, South Korea, China, and Australia are at the forefront, investing heavily in healthcare technology and research. China, in particular, has seen rapid advancements and high adoption rates of technologies such as AI-driven diagnostic tools. Additionally, the region benefits from several fast-growing biotech startups and strategic collaborations between global and local firms aiming to tailor cancer diagnostics to regional specificities.
Market Segmentation & Coverage:
This research report categorizes the Next-Generation Cancer Diagnostics Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Technology, market is studied across Clustered Regularly Interspaced Short Palindromic Repeats Diagnostics, DNA Microarrays, Lab-on-a-Chip & Reverse Transcriptase-PCR, Molecular Diagnostics, Next Generation Sequencing, Protein Microarrays, and qPCR & Multiplexing. The Next Generation Sequencing commanded largest market share of 24.09% in 2023, followed by qPCR & Multiplexing.
Based on Cancer Type, market is studied across Bladder Cancer, Breast Cancer, Cervical Cancer, Colorectal Cancer, Kidney Cancer, Lung Cancer, Pancreatic Cancer, Prostate Cancer, Thyroid Cancer, and Uterine Cancer. The Lung Cancer commanded largest market share of 17.33% in 2023, followed by Colorectal Cancer.
Based on Application, market is studied across Cancer Screening, Companion Diagnostics, Prognostics, Risk Analysis, and Therapeutic Monitoring. The Cancer Screening commanded largest market share of 23.12% in 2023, followed by Companion Diagnostics.
Based on Function, market is studied across Biomarker Development, CTC Analysis, Epigenetic Analysis, Genetic Analysis, and Proteomic Analysis. The Biomarker Development commanded largest market share of 31.94% in 2023, followed by CTC Analysis.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 39.02% in 2023, followed by Europe, Middle East & Africa.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Next-Generation Cancer Diagnostics Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Next-Generation Cancer Diagnostics Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Next-Generation Cancer Diagnostics Market, highlighting leading vendors and their innovative profiles. These include Abbott Laboratories, Adaptive Biotechnologies Corporation, Agena Bioscience, Inc. by Mesa Laboratories, Inc., Agilent Technologies, Inc., Akadeum Life Sciences, Almac Group, Becton, Dickinson & Company, Bio-Techne Corporation, Biological Dynamics Inc., bioMérieux SA, BioNTech SE, Castle Biosciences Inc., Danaher Corporation, Exact Sciences Corporation, F. Hoffmann-La Roche Ltd., GE HealthCare, Hologic Inc., Illumina, Inc., Johnson & Johnson Services, Inc., Konica Minolta, Inc., Koninklijke Philips N.V., NeoGenomics Laboratories, Novartis AG, OPKO Health, Inc., Oxford Nanopore Technologies Limited, Perkin Elmer, Inc., Qiagen N.V., Siemens Healthineers AG, Sysmex Corporation, Telerad Tech, and Thermo Fisher Scientific, Inc..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Next-Generation Cancer Diagnostics Market, by Technology
7. Next-Generation Cancer Diagnostics Market, by Cancer Type
8. Next-Generation Cancer Diagnostics Market, by Application
9. Next-Generation Cancer Diagnostics Market, by Function
10. Americas Next-Generation Cancer Diagnostics Market
11. Asia-Pacific Next-Generation Cancer Diagnostics Market
12. Europe, Middle East & Africa Next-Generation Cancer Diagnostics Market
13. Competitive Landscape
14. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Next-Generation Cancer Diagnostics Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Next-Generation Cancer Diagnostics Market?
3. What is the competitive strategic window for opportunities in the Next-Generation Cancer Diagnostics Market?
4. What are the technology trends and regulatory frameworks in the Next-Generation Cancer Diagnostics Market?
5. What is the market share of the leading vendors in the Next-Generation Cancer Diagnostics Market?
6. What modes and strategic moves are considered suitable for entering the Next-Generation Cancer Diagnostics Market?
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