Press release
Cancer Diagnostics Market is Advancing with Cutting-Edge Life-Saving Technology
Cancer Diagnostics Market
Cancer Diagnostics Market size was valued at USD 110.0 billion in 2023 and is poised to grow from USD 119.68 billion in 2024 to USD 234.99 billion by 2032, growing at a CAGR of 8.8% during the forecast period (2025-2032).
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Growing number of cancer patients around the world are projected to bolster the demand for cancer diagnostics over the coming years. High investments in oncology research and rising emphasis on early diagnosis of cancer to improve chances of successful treatment are slated to bolster cancer diagnostics market growth in the future. Increasing awareness regarding different types of cancers and advancements in diagnostic technologies are also forecasted to augment cancer diagnostics demand in the long run. Growing use of targeted therapies and personalized medicine in cancer treatment will also promote the use of advanced cancer diagnostics going forward. On the other hand, high costs of advanced diagnostics, false positives, and limited access are some constraints that impede cancer diagnostics market development potential across the study period and beyond.
Cancer Diagnostics Market Segments Analysis
Global Cancer Diagnostics Market is segmented by Product, Technology, Application, End User and region.
Based on Product, the market is segmented into Consumables and Instruments.
Based on Technology, the market is segmented into IVD Testing, Imaging Technologies and Biopsies.
Based on Application, the market is segmented into Breast Cancer, Lung Cancer, Colorectal Cancer, Melanoma and Other Cancers.
Based on End User, the market is segmented into Hospitals and Diagnostic Laboratories.
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Cancer Diagnostics Market Key Players:
Abbott Laboratories (US)
Becton, Dickinson and Company (BD) (US)
bioMerieux SA (France)
Danaher Corporation (US)
Hoffmann-La Roche Ltd. (Switzerland)
GE Healthcare (US)
Hologic, Inc. (US)
Illumina, Inc. (US)
Koninklijke Philips N.V. (Netherlands)
Merck KGaA (Germany)
Myriad Genetics, Inc. (US)
QIAGEN N.V. (Netherlands)
Siemens Healthineers AG (Germany)
Sysmex Corporation (Japan)
Thermo Fisher Scientific Inc. (US)
Exact Sciences Corporation (US)
Guardant Health, Inc. (US)
Caris Life Sciences (US)
Cancer Diagnostics Market Regional Insights
North America is predicted to spearhead the demand for cancer diagnostics in the world. The presence of a robust healthcare infrastructure and rising healthcare expenditure are driving cancer diagnostics market growth in this region. High investments in oncology R&D and favorable reimbursement policies are also estimated to help the dominance of this region. Canada and the United States are slated to be the most important markets in North America going forward.
Recent Developments:
Continental Hospitals, a hospital in Telangana, India, announced the launch of a new cancer diagnostic to promote early detection in February 2024. The new Early Detection Liquid Biopsy Test to detect cancer early while taking a minimally invasive approach.
Reveal Genomics, a new name in the biotechnology world based in Spain, announced the launch of a new trial for its HER2+ early-stage breast cancer detection test in June 2024.
Back in 2022, Roche announced the launch of a new tissue staining system for cancer diagnostics. The newly launched product by Roche allowed clinicians generate quick results and facilitate informed decision-making in the future.
What's more, it likewise covers the request and give of the promoting research concentrate in the assessed figure time frame. Explained investigation of the market players with their profile, deals examination and serious scene is given in the report. Besides, organization, joint effort and consolidations in the business are referenced for the accommodation of the investigation of the global Cancer Diagnostics industry.
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https://www.dreamnews.jp/press/0000316954/
Objectives of the Study:
• To forecast the market size, in terms of value, for various segments with respect to five main regions, namely, North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA)
• To provide detailed information regarding the major factors influencing the growth of the Market (drivers, restraints, opportunities, and challenges)
• To strategically analyze the micro markets with respect to the individual growth trends, future prospects, and contribution to the total market
• To provide a detailed overview of the value chain and analyze market trends with the Porter's five forces analysis
• To analyze the opportunities in the market for various stakeholders by identifying the high-growth Segments
• To identify the key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing the competitive landscape for the market leaders
• To analyze competitive development such as joint ventures, mergers and acquisitions, new product launches and development, and research and development in the market
Looking ahead, the Cancer Diagnostics Market is poised for continued growth, driven by evolving consumer preferences and ongoing innovations. The trend towards sustainability is expected to strengthen, with more consumers seeking products that align with their values. Additionally, the integration of advanced technologies and digital platforms will likely further enhance market accessibility and consumer engagement. The global Cancer Diagnostics Market is a dynamic and evolving landscape, shaped by a confluence of trends and factors.
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We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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