Melanoma Cancer Diagnostics Market Beneficial Study of Top Players, Trends and Forecasts till 2022

Melanoma or malignant melanoma is a common type of skin cancer where melanocytes, cells containing pigments, begin to grow rapidly. Since occurrence of melanoma is restricted to skin, mouth, intestines or eyes, the diagnostics of melanoma comprises of multiple tests & screening methods such as excisional biopsy, lymph node status analysis, shave biopsy, and fine needle aspirate test.

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The global melanoma cancer diagnostics market is projected to grow at a steady CAGR during the forecast period 2017-2027.

The melanoma cancer diagnostics market will be influenced by a combination of macroeconomic and microeconomic factors. Increasing spending on healthcare and advances in cancer detection and management are expected to contribute to the growth of the melanoma cancer diagnostics market. However, dearth of advanced solutions in developing countries will continue to pose growth challenges.

Key takeaways from Fact.MR’s report are-

1) The U.S. melanoma cancer diagnostics market will grow at over 7% CAGR and reach US$ 409.2 Mn by 2022. By test type, BRAF mutation segment will continue to be the leading segment.
2) Germany is one of the largest markets for melanoma cancer diagnostics in Europe. Fact.MR projects the Germany melanoma cancer diagnostics market to grow at 7.4% CAGR through 2022. Hospital associated labs are the largest end-users of melanoma cancer diagnostics in Germany. The market in United Kingdom will grow at a higher rate than Germany, but it will be continue to be smaller in market size.
3) The market will be positive influenced by increasing R&D on cancer diagnosis and management. Increasing prevalence of melanoma and effective immunotherapies are expected to drive growth of the market globally.
4) Although the outlook on the global melanoma cancer diagnostics market is positive, limited funds in emerging countries, combined with challenges surrounding regulatory issues can stymie growth during the forecast period.
5) By test type, BRAF mutation segment will account for a significant share of global revenues. This test type will continue to be used widely in major markets of North America and Europe. The CTC segment, on the other hand, is projected to grow at a higher CAGR than BRAF segment. Immunohistochemistry, another test type, is projected to grow at over 6% CAGR in the global melanoma cancer diagnostics market.
6) The key end-use segments of the global melanoma cancer diagnostics market have been identified as hospital associated labs, cancer research institutes, and independent diagnostic laboratories. Among these, the hospital associated labs end-use segment is the most prominent globally. According to Fact.MR’s research, hospital associated labs will remain the largest end-users for melanoma cancer diagnostics market during the forecast period.
7) Demand is also expected to remain steady from independent diagnostic laboratories segment. In North America, demand from this segment is expected to surpass US$ 100 million by 2022. The trend will also remain strong in Europe, with this segment growing at nearly 8% CAGR during the forecast period.

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Analysis by End-Users
By end-users, the key segments of melanoma cancer diagnostics market include hospital associated labs, independent diagnostic laboratories, cancer research institutes, and ‘others’.

The hospital associated labs segment in North America is currently valued at over US$ 137 million, and is expected to grow at a steady CAGR through 2022. The hospital associated labs segment in Europe is anticipated to grow at a significant CAGR through 2022.

Independent diagnostic laboratories end-user segment in North America is expected to surpass US$ 100 million in revenues by 2022, growing at a high single-digit CAGR.

Competition Tracking
The key companies profiled in the Fact.MR’s report on global melanoma cancer diagnostics market include Foundation Medicine, Inc., Cancer Genetics, Inc., Pathway Genomics Corporation, Abbott Laboratories, and Myriad Genetics Inc.

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This release was published on openPR.