Cancer Diagnostics Market Insights Point to Asia-Pacific as Fastest-Growing Regional Segment

InsightAce Analytic Pvt. Ltd. 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 2034"

The global Cancer Diagnostics market is estimated to reach over 204.49 billion by the year 2031, exhibiting a CAGR of 6.5% during the forecast period.

Get Free Access to Demo Report, Excel Pivot and ToC: https://www.insightaceanalytic.com/request-sample/1726

The global healthcare sector has experienced profound disruptions due to the COVID-19 pandemic, which placed exceptional pressure on medical infrastructure and resources. Measures implemented to control the spread of the virus significantly hindered the provision of routine medical services and led to a surge in demand for acute care. A key repercussion of these circumstances was the widespread postponement of elective procedures, including oncology-related surgeries, as healthcare facilities redirected their focus to urgent and COVID-19-specific cases. This shift has raised serious concerns, particularly for cancer patients who are more vulnerable to infection and face elevated risks of complications and mortality.

According to data from the American Society of Clinical Oncology, cancer-related healthcare services witnessed a notable decline between March and July 2020, compared to the same period in 2019. The reductions affected various areas, including diagnostic biopsies, tumor screenings, outpatient consultations, therapeutic interventions, and surgical procedures. In April 2020, during the peak of the pandemic, screening volumes experienced significant decreases-colon cancer screenings fell by 75%, breast cancer by 85%, lung cancer by 56%, and prostate cancer by 74%. Furthermore, approximately 800 lung cancer screening appointments were canceled in March 2020 alone. Although standard screening protocols have since resumed, the number of newly screened individuals continues to lag behind pre-pandemic levels, suggesting a lasting impact on early cancer detection and diagnosis.

List of Prominent Players in the Cancer Diagnostics Market:
• Abbott Laboratories,
• Agilent Technologies Inc.,
• AMOY Diagnostics Co Ltd.,
• Astellas Pharma Inc. (Japan)
• BD
• 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.
• FUJIFILM Corporation,
• GE Healthcare
• Genomic Health, Inc. (U.S.)
• GSK plc. (U.K.)
• Hologic, Inc.
• 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.

Expert Knowledge, Just a Click Away: https://calendly.com/insightaceanalytic/30min?month=2025-01

Market Dynamics
Drivers:
The diagnostic testing market is poised for significant expansion, primarily driven by ongoing technological advancements. A notable example includes the introduction of the Genius Digital Diagnostics System by Hologic, Inc. in Europe in 2021. This advanced cervical cancer screening solution integrates cutting-edge volumetric imaging and AI-powered deep learning to improve the detection of precancerous and cancerous cervical cells. These technological innovations are expected to play a pivotal role in accelerating market growth throughout the forecast period.

Challenges:
In many developing and low-income nations, healthcare facilities often encounter financial constraints that hinder their ability to invest in advanced diagnostic imaging systems. To meet the growing demand for diagnostic services, hospitals in these regions frequently turn to refurbished equipment as a cost-effective alternative. While this approach increases accessibility, it also limits the integration of the latest diagnostic technologies, thereby restraining overall market development.

Regional Trends:
The Asia-Pacific region is anticipated to witness the most rapid market growth during the forecast period. This momentum is being driven by strategic actions from leading industry players, the expansion of national cervical cancer screening initiatives, intensified R&D activities, and continued technological progress. For instance, the Australian Cervical Cancer Foundation (ACCF) initiated National Cervical Cancer Awareness Week in November 2019 to enhance public awareness and promote prevention, with an overarching goal of eliminating cervical cancer in the country by 2035. Companies such as Hologic, Inc. are actively supporting these awareness campaigns and screening programs, thereby contributing significantly to regional market expansion.

Unlock Your GTM Strategy: https://www.insightaceanalytic.com/customisation/1726

Recent Developments:
• In November 2021, Magnetom Free was introduced by Siemens Healthineers. The Star whole-body MRI scanner was created to dramatically improve access to magnetic resonance imaging on a global scale.

Segmentation of Cancer Diagnostics Market-
By Product-
• Consumables
o Antibodies
o Kits & Reagents
o Probes
o Others
• Instruments
o Pathology based Instrument
o Slide Staining Systems
o Tissue Processing Systems
o Cell Processors
o PCR Instruments
o NGS Instruments
o Microarrays
o Other Pathology-based Instruments
o Imaging Instruments
o CT Systems
o Ultrasound Systems
o MRI Systems
o Mammography Systems
o Nuclear Imaging Systems
• Biopsy Instruments
By Technology-
• IVD Testing
o Polymerase Chain Reaction (PCR)
o In Situ Hybridization (ISH)
o Immunohistochemistry (IHC)
o Next-generation Sequencing (NGS)
o Microarrays
o Flow Cytometry
o Immunoassays
o Others
• Imaging
o Magnetic Resonance Imaging (MRI)
o Computed Tomography (CT)
o Positron Emission Tomography (PET)
o Mammography
o Ultrasound
• 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

View Overview Report: https://www.insightaceanalytic.com/report/cancer-diagnostics-market/1726

About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

Contact us:
InsightAce Analytic Pvt. Ltd.
Visit: www.insightaceanalytic.com
Tel : +1 607 400-7072
Asia: +91 79 72967118
info@insightaceanalytic.com

This release was published on openPR.