The global advanced cancer diagnostics market is anticipated to grow significantly over the forecast period. Cancer or malignant neoplasm refers to a group of diseases caused by abnormal cell growth. This disease is marked by uncontrollable cell growth forming malignant tumors which invade surrounding body parts. Some of the major types of cancer (based on prevalence as of 2008) are lung, stomach, and breast, colorectal, prostate and liver cancer.
Rapidly rising prevalence of cancer coupled with growing patient awareness levels is the most prominent driver of this market. According to the estimates of the World Cancer Research Fund International, the global cancer prevalence is expected to increase from 6.6 million cases in 2008 to approximately 21 million cases in 2030. Moreover, lifestyle habits triggering cancer incidence rates such as smoking and growing base of global geriatric population base are some of the other factors which will support the market in terms of growth.
The future growth of the global advanced cell diagnostics market will be fuelled by the growing market penetration rates of novel and advanced diagnostic technologies such as lab-on-a-chip, next generation sequencing, real time PCR (RT-PCR), high density microarrays, multiplexed assays and cellular analysis (capture and identification). The presence of high unmet medical needs, improving reimbursement policy frameworks in emerging Asian and Latin American economies and rising number of funding programs directed towards the initiation of research and development programs are some of the other future growth opportunities for this market.
The genomics based cancer diagnostics market is expected to dominate the market in terms of share throughout the forecast period. However, the epigenomics and cellular analysis based cancer diagnostics markets are expected to exhibit the highest growth rates during the forecast period.
North America is expected to dominate the overall market in terms of market share throughout the forecast period. The presence of high patient awareness levels encouraging patients to undergo regular diagnostic procedures clubbed with the availability of high disposable incomes supported by the presence of a sophisticated reimbursement framework are some of the factors attributing to its large market share.
This research study encompasses a competitive landscape of the advanced cancer diagnostics market. Revenue analysis, product benchmarking and strategic developments of key market players such as Roche, Abbott Laboratories, Biocept, Beckman Coulter Inc., Becton Dickinson and Co., Affymetrix Inc., Biotheranostics, GE Healthcare, Gen-Probe Inc. and others are also provided in this report.
This report, by Grand View Research, takes a closer look at the advanced cancer diagnostics industry, providing a holistic perspective on market dynamics, trends, supply and demand. The report deep-dives into the market and segments it on multiple levels and providing key insights on a macro as well as micro level. The study aims at providing granular information, regarding estimates and forecasts for key product segments including genomics based, epigenomics based, proteomics based and cellular analysis based advanced cancer diagnostics. The report also provides the same level of information for key regional markets.
This research report analyzes various factors which has been driving and inhibiting the global advanced cancer diagnostics market in the past. In addition, the report analyzes the impact of each driver and restraint on the market growth, which forms the base for market forecast. The report also showcases the opportunities available in the market which may act as future drivers for the market.
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The most common concern for the governments of all Covid-19 hit nations is the excruciating need to screen for and test large numbers of patients for possible Sars-Cov-2 infection. As a result, most of them are facing major shortages in the supply for diagnostic kits to test for the virus. Diagnostics virology entities are under immense pressure to provide reliable testing kits, and there is a surge in demand for in-vitro or point-of-care testing capacities by labs across a large number of countries. The report will account for Covid19 as a key market contributor.