Press release
Ovarian Cancer Diagnostics Market Poised for 8 % Growth, Set to Hit $3.93 Billion by 2029
Ovarian Cancer Diagnostics Market
The upswing in ovarian cancer instances is projected to fuel the progression of the market concerned with ovarian cancer diagnostics. Ovarian cancer emerges as a dangerous growth in the ovaries which are crucial female reproductive components responsible for the production of eggs and hormones. This surge can be attributed to extended lifespan, delayed motherhood, and alterations in lifestyle. Employing ovarian cancer diagnostics can mitigate the spread of ovarian cancer due to its ability to facilitate earlier identification and intervention, which can result in immediate treatment and enhanced results. For example, the World Ovarian Cancer, a Canada-based entity focusing on awareness for women globally affected by ovarian cancer, revealed that the global rates of this disease among women are anticipated to see an upsurge of over 55% by 2050, hitting an estimated 503,448 cases. Furthermore, the yearly fatalities from ovarian cancer are forecasted to escalate to 350,956, signifying a roughly 70% rise compared to 2022. Consequently, the escalating occurrence of ovarian cancer is spurring the expansion of the market for ovarian cancer diagnosis.
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What growth opportunities are expected to drive the ovarian cancer diagnostics market's CAGR through 2034?
The market size for diagnosing ovarian cancer has expanded considerably in the past few years. It is forecasted that it will progress from $2.74 billion in 2024 to $2.92 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 6.6%. The underlying factors contributing to this rise during the historic period include advancements in biomarker discovery and validation, augmented use of transvaginal ultrasound, heightened awareness of BRCA gene mutations, intensified research into tumor markers, as well as screening initiatives and norms.
In the forthcoming years, the market size for ovarian cancer diagnostics is anticipated to experience robust growth, reaching $3.93 billion in 2029 with a compound annual growth rate (CAGR) of 7.6%. This growth projection for the forecast period is due to factors such as initiatives towards early detection, rising cases of ovarian cancer, the implementation of artificial intelligence (AI), personalized treatment plans, the discovery of new biomarkers, plus genomic and proteomic profiling. The forecast period is also expected to see key trends such as the introduction of biosensor technologies for early detection, the incorporation of digital pathology, innovative imaging modalities, enhanced imaging technologies, and progress in pathology techniques.
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What are the most significant trends transforming the ovarian cancer diagnostics market today?
The rise in the use of advanced diagnostic technology is a significant trend observed in the ovarian cancer diagnostics market. Companies that are part of this industry are turning to cutting-edge diagnostic technologies to maintain their market position. Take for example, Hoffmann-La Roche AG, a pharmaceutical and healthcare corporation based in Switzerland - in November 2022, the company obtained FDA approval for their VENTANA FOLR1 (FOLR1-2.1) RxDx Assay. This is the initial (immunohistochemistry) IHC-related diagnostic companion testing kit devised to identify ovarian cancer patients suitable for the prescribed medication ELAHERE. The test is purposely designed to provide crucial insights and yield comprehensive clinical data related to an ovarian cancer diagnosis, enhancing disease control and patient prognosis.
Which growth-oriented segments of the ovarian cancer diagnostics market are leading the industry's development?
The ovarian cancer diagnostics market covered in this report is segmented -
1) By Product Type: Instruments, Kits, Reagents
2) By Diagnosis Type: Biopsy, Blood Test, Imaging, Other Diagnosis Types
3) By Cancer Type: Epithelial Tumor, Germ Cell Tumor, Stromal Cell Tumor, Other Cancer Types
4) By End User: Cancer Diagnostic Centers, Hospital Laboratories, Research Institutes
Subsegments:
1) By Instruments: Imaging Systems, Biopsy Devices, Molecular Diagnostic Instruments
2) By Kits: Diagnostic Test Kits, Screening Kits
3) By Reagents: Antibodies, Enzymes, Assay Reagents
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What regions are leading the charge in the ovarian cancer diagnostics market?
North America was the largest region in the ovarian cancer diagnostics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ovarian cancer diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the ovarian cancer diagnostics market?
Major companies operating in the ovarian cancer diagnostics market include F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., AstraZeneca plc, Abbott Laboratories, GlaxoSmithKline plc, Eli Lilly and Company, GE HealthCare Technologies Inc., Quest Diagnostics Incorporated, Agilent Technologies Inc., Hologic Inc., Illumina Inc., PerkinElmer Inc., Sysmex Corporation, Bio-rad Laboratories Inc., Qiagen N.V., Natera Inc., Myriad Genetics Inc., ArcherDX Inc., Invitae Corporation, Guardant Health, Luminex Corporation, NanoString Technologies Inc., Siemens Healthcare Private Limited, Menarini Silicon Biosystems S.p.A., Precipio Inc., Angle plc
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What Is Covered In The Ovarian Cancer Diagnostics Global Market Report?
• Market Size Forecast: Examine the ovarian cancer diagnostics market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the ovarian cancer diagnostics market for a structured understanding.
• Key Players Overview: Analyze major players in the ovarian cancer diagnostics market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the ovarian cancer diagnostics market.
• Segment Contributions: Evaluate how different segments drive overall growth in the ovarian cancer diagnostics market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the ovarian cancer diagnostics market.
• Industry Challenges: Identify potential risks and obstacles affecting the ovarian cancer diagnostics market.
• Competitive Landscape: Review strategic developments in the ovarian cancer diagnostics market, including expansions, agreements, and new product launches.
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