Global Cancer Diagnostics Market Set to Grow with CAGR of 6.84% By 2026

Posted by nileshdbmr on November 15th, 2019

Global Cancer Diagnostics Market is expected to rise from its initial estimated value of USD 143.89 billion in 2018 to a projected value of USD 244.28 billion by 2026, registering a CAGR of 6.84% in the forecast period of 2019-2026. This rise in market value can be attributed to innovations and advancements in technological offerings by the major manufacturers.

Cancer diagnostics is the process of detecting various biomarkers, proteins and certain symptoms that result in the detection of presence of cancerous tumor in the patients. The detection of certain biomarkers and proteins that are prevalent in cancer disorders thereby result in the diagnosis process. The process of detecting cancer includes usage of certain technology and devices specifically used in its diagnosis.

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Competitive Analysis:

Global cancer diagnostics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of cancer diagnostics market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Key Market Competitors:

Abbott; Agilent Technologies, Inc.; BD; bioMérieux SA; NeoGenomics Laboratories, Inc.; Telerad Tech; F. Hoffmann-La Roche Ltd; GENERAL ELECTRIC COMPANY; Hologic Inc.; Illumina, Inc.; QIAGEN; BioGenex; Siemens Healthcare GmbH; BioNTech Diagnostics GmbH; Thermo Fisher Scientific Inc.; Koninklijke Philips N.V.; are few of the major competitors currently present in the market.

Segmentation: Global Cancer Diagnostics Marketn

• By Technology (Instrument Based, Platform-Based, Tumor Biomarker Tests)
• By Application (Breast Cancer, Colorectal Cancer, Cervical Cancer, Lung Cancer, Prostate Cancer, Skin Cancer, Blood Cancer, Kidney Cancer, Pancreatic Cancer, Ovarian Cancer, Others)
• By End-User (Cancer Research Institutes, Diagnostic Laboratories, Hospitals, Others)
• By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)

Market Drivers

• Significant contribution and investments undertaken by various organizations; this factor is expected to act as a driver for the market growth
• Increasing levels of geriatric population along with the growth in prevalence of cancer; this factor is expected to act as a driver for the market growth

Market Restraints

• High cost of diagnostics procedure for cancers available in the market is expected to act as a restraint to the market growth
• Presence of strict regulations and standards for the approval and commercialization of cancer diagnostic products & services; this factor is expected to act as a restraint to the market growth

Reasons to Purchase this Report

• Current and future of global cancer diagnostics market outlook in the developed and emerging markets
• The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
• Regions/Countries that are expected to witness the fastest growth rates during the forecast period
• The latest developments, market shares, and strategies that are employed by the major market players

Customization of the Report:

• All segmentation provided above in this report is represented at country level
• All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)

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