Cancer Diagnostics Market Exclusive Trends Analysis with Forecast to 2031

InsightAce Analytic announces the release of a market assessment report on the "Global Cancer Diagnostics Market Size, Share & Trends Analysis Report By Product (Consumables (Antibodies, Probes), Instruments (Pathology Instruments, Imaging Instruments, Biopsy), Technology (IVD Testing, imaging, and biopsy technology), Application (Breast Cancer, Lung Cancer), End User (Hospitals)- Market Outlook And Industry Analysis 2031"

The global Cancer Diagnostics market is estimated to reach over USD 300.79 billion by 2031, exhibiting a CAGR of 7.16% during the forecast period.

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COVID-19 has placed global healthcare systems under unprecedented duress. It has increased the demand for hospital resources and has made it challenging to provide care while limiting the spread of the infection. The COVID-19 pandemic has presented a challenge for global healthcare systems in adapting to those issues. Therefore, surgeons have observed a decrease in elective interventions performed since the outbreak of the epidemic. The scheduled oncology procedures are affected by the postponement of non-urgent elective surgeries. Tumor patients are particularly susceptible to infection.

Furthermore, patients with malignancy have higher rates of morbidity and mortality associated with COVID-19. From March to July 2020, the American Society of Clinical Oncology conducted a study that revealed a substantial decrease in the number of biopsies, tumour screens, office visits, therapies, and surgeries compared to their 2019 data. In April 2020, the pandemic was at its most severe, and cancer screenings for colon, breast, lung, and prostate were 75%, 85%, 56%, and 74% reduced. Additionally, the COVID-19 pandemic resulted in the cancellation of nearly 800 appointments for lung cancer screenings in March 2020. The screening ratio of new patients remained low even after the screening was resumed at its regular frequency.

List of Prominent Players in the Cancer Diagnostics Market:
• Abbott Laboratories,
• Agilent Technologies Inc.,
• AMOY Diagnostics Co Ltd.,
• Astellas Pharma Inc. (Japan)
• BD
• FUJIFILM Corporation,
• GE Healthcare
• Genomic Health, Inc. (U.S.)
• GSK plc. (U.K.)
• Hologic, Inc.
• BiocartisNV,
• bioMérieux SA (France)
• Bristol-Myers Squibb Company (U.S.)
• Cancer Diagnostics Inc.,
• Danaher Corporation,
• DiagnoCure Inc. (Canada)
• DiaSorin S.P.A.,
• Excat Science
• F. Hoffmann-La Roche Ltd.
• Illumina, Inc.
• Koninklijke Philips N.V. (Philips)
• Lilly (U.S.)
• Merck KGaA, (Germany)
• Myriad Genetics Inc.,
• Novartis AG (Switzerland)
• Pfizer, Inc. (U.S.)
• Qiagen N.V.
• Quest Diagnostics Incorporated. (U.S.)
• Quidel Corporation,
• Roche Diagnostics,
• Siemens Healthcare GmbH
• Thermo Fisher Scientific, Inc.

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Market Dynamics:
Drivers-
Throughout the forecast period, technological advancements in diagnostic testing will be anticipated to stimulate market growth. For example, Hologic, Inc. announced that the Genesis Digital Diagnostics System would be commercially available in Europe in 2021. The next-generation cervical cancer screening system employs deep learning-based AI and novel volumetric imaging technology to assist in the identification of women with precancerous lesions and cervical cancer cells. This should have the effect of accelerating market growth.

Challenges:
Technological advancements in diagnostic testing are expected to drive market growth during the forecast period. For instance, in 2021, Hologic, Inc. declared that the Genesis Digital Diagnostics System would be commercially available in Europe. The next-generation cervical cancer screening system utilizes novel volumetric imaging technology and deep learning-based AI to aid in the identification of precancerous lesions and cervical cancer cells in women. This is anticipated to accelerate market expansion.

Regional Trends:
Asia Pacific is anticipated to experience the most rapid growth during the projection period as a result of strategic initiatives implemented by major actors, a substantial increase in cervical screening programs to enhance awareness and screening, a surge in research and development, and technological advancements. For example, the Australian Cervical Cancer Foundation (ACCF) initiated National Cervical Cancer Awareness Week 2019 in November 2019. The ACCF aims to eradicate cervical cancer by 2035 by increasing awareness among women throughout Australia. Hologic Inc. is one of the organizations that provides support for the ACCF assessment programs.

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Recent Developments:
• In November 2021, Siemens Healthier introduced Magnetom Free. The Star whole-body MRI scanner was developed to significantly enhance global access to magnetic resonance imaging.

Segmentation of Cancer Diagnostics Market-
By Product-
• Consumables
• Antibodies
• Kits & Reagents
• Probes
• Others
• Instruments
• Pathology based Instrument
• Slide Staining Systems
• Tissue Processing Systems
• Cell Processors
• PCR Instruments
• NGS Instruments
• Microarrays
• Other Pathology-based Instruments
• Imaging Instruments
• CT Systems
• Ultrasound Systems
• MRI Systems
• Mammography Systems
• Nuclear Imaging Systems
• Biopsy Instruments
• By Technology-
• Imaging
• Magnetic Resonance Imaging (MRI)
• Computed Tomography (CT)
• Positron Emission Tomography (PET)
• Mammography
• Ultrasound
• IVD Testing
• Polymerase Chain Reaction (PCR)
• In Situ Hybridization (ISH)
• Immunohistochemistry (IHC)
• Next-generation Sequencing (NGS)
• Microarrays
• Flow Cytometry
• Immunoassays
• Others
• Biopsy Technique
By Application-
• Breast Cancer
• Lung Cancer
• Colorectal Cancer
• Melanoma
• Others
By End User-
• Hospitals
• Diagnostics Laboratories
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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