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Head And Neck Cancer Diagnostics Market Top Segments, Market Growth And Production Analysis 2024
Head And Neck Cancer Diagnostics Market
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According to The Business Research Company's, The head and neck cancer diagnostics market size has grown rapidly in recent years. It will grow from $1.51 billion in 2023 to $1.79 billion in 2024 at a compound annual growth rate (CAGR) of 18.4%. The growth in the historic period can be attributed to tobacco and alcohol consumption, increasing aging population, awareness campaigns, biopsy techniques development, healthcare infrastructure development.
The head and neck cancer diagnostics market size is expected to see rapid growth in the next few years. It will grow to $3.32 billion in 2028 at a compound annual growth rate (CAGR) of 16.7%. The growth in the forecast period can be attributed to genomic biomarkers, rising incidence of hpv-related cancers, integration of artificial intelligence (ai), immunotherapy and targeted therapies, healthcare policy and reimbursement changes. Major trends in the forecast period include liquid biopsy dominance, multi-modality diagnostics, point-of-care diagnostics, global collaborations and partnerships, digital pathology integration.
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Market Drivers and Trends:
The increasing incidence of head and neck cancer is expected to propel the growth of the head and neck cancer diagnostics market going forward. Head and neck cancer is a group of tumors affecting the head and neck region's tissues and organs. These malignancies include the mouth, pharynx, larynx, salivary glands, nasal cavity, and sinuses. Head and neck cancer diagnostics help head and neck cancer patients diagnose the disease early with various tests, including an incisional biopsy and a barium swallow test. For instance, in February 2023, according to the American Society of Clinical Oncology, a US-based professional organization for physicians and oncology professionals, Head and neck cancer made up 4% of all malignancies in the US. Head and neck cancer is predicted to affect 66,920 people in the USA in 2023 (49,190 men and 17,730 women). In 2020, head and neck cancer will affect 562,328 people worldwide. Furthermore, according to head and neck cancer in Australia statistics, there were 5,189 new head and neck cancer cases in 2022. Therefore, the rise in head and neck cancer incidence is driving the growth of the head and neck cancer diagnostics market.
Product innovation has emerged as a key trend gaining popularity in the head and neck cancer diagnostic market. Major market players are concentrating their efforts on creating innovative products to strengthen their position in the market. For instance, in May 2023, Alkem Laboratories Ltd., an India-based healthcare company, launched Cetuxa, the world's first biosimilar for head and neck cancer treatment. Cetuxa is biosimilar to cetuximab, a monoclonal antibody that inhibits the receptor-dependent transduction pathway and has anti-tumor properties. The epidermal growth factor receptor (EGFR) 's extracellular domain is where cetuximab binds. Chemotherapy or radiation therapy is frequently combined with cetuximab in clinical practice. Squamous cell carcinoma of the head and neck that is locally advanced, recurring, or metastatic may be treated with it.
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Major Key Players of the Market:
F. Hoffmann-La Roche Ltd., Bristol Myers Squibb Co., Abbott Laboratories, Siemens Healthineers AG, BioNTech AG, Koninklijke Philips N.V., GE HealthCare Technologies Inc., Laboratory Corporation of America, Agilent Technologies Inc., Hologic Inc., Illumina Inc., Shimadzu Corporation, Sysmex Corp., Varian Medical Systems Inc., QIAGEN N.V., Exact Sciences Corp., Bio-Techne Corp., Carestream Health Inc., Myriad Genetics Inc., Cepheid Inc., Invitae Corporation, Accuray Inc., Canon Medical Systems Corporation, NanoString Technologies Inc, Asuragen Inc., Caris Life Sciences Inc., HTG Molecular Diagnostics Inc., Oncgnostics GmbH, Perseus Proteomics Inc., VolitionRx Ltd.
Head And Neck Cancer Diagnostics Market 2024 Key Insights:
• The head and neck cancer diagnostics market size is expected to see rapid growth in the next few years. It will grow to $3.32 billion in 2028 at a compound annual growth rate (CAGR) of 16.7%.
• Rising Prevalence Of Head And Neck Cancer To Drive Market Growth
• Product Innovations Transforming The Head And Neck Cancer Diagnostics Market
• North America was the largest region in the head and neck cancer diagnostics market in 2023
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