Dublin, April 19, 2024 (GLOBE NEWSWIRE) -- The "Cancer Diagnostics Market, Size, Global Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Companies Analysis" report has been added to ResearchAndMarkets.com's offering.
The global Cancer Diagnostics Market is poised for significant expansion, projected to soar to US$ 280.37 Billion by 2030, driven by an increased demand for early and accurate cancer detection. Technological advancements in diagnostic modalities, including imaging, genetic testing, and biopsies, play a crucial role in the advancement of personalized medicine and improving patient outcomes.
Innovations in cancer diagnosis technologies are spearheading the consistent growth within the market. Breakthrough devices are enabling the rapid isolation of circulating tumor cells, which are paramount for early detection, thus playing a critical role in patient prognosis and survival rates.
Government Initiatives Strengthening Infrastructure
National programs aimed at improving cancer diagnosis and treatment are instrumental in supporting the market. Countries like India are investing in enhanced infrastructure and targeted prevention campaigns to ameliorate the management of cancer and advance diagnostic accessibility.
Focus on Lung Cancer Diagnosis
Lung cancer's high prevalence and mortality rates necessitate prioritizing its timely diagnosis. The adoption of advanced diagnostic tools is seen as indispensable for enhancing patient survival, making lung cancer a primary area of focus within the cancer diagnostics market.
Anticipated Market Growth in China
China's vast population and escalating cancer cases are expected to contribute significantly to global market growth. Chinese healthcare initiatives are concentrating on improving survival rates and managing chronic illnesses, including cancer, thereby meeting the robust local demand for diagnosis and treatment.
Leading Entities in the Cancer Diagnostics Space
The market features major organizations such as Illumina, Abbott Laboratories, Thermo Fisher Scientific, Inc., QIAGEN N.V., Roche Holding AG., Pfizer, Inc., Koninklijke Philips N.V., and bioMérieux. These key players are at the forefront, with Roche recently enhancing cancer diagnostics with the launch of their BenchMark ULTRA PLUS system.
Market Segmentation Overview
The Cancer Diagnostics Market is analyzed across various segments, including diagnostic centers, hospitals and clinics, research institutes, as well as multiple cancer types and testing modalities. These insights are explored across key geographical regions, providing a comprehensive view of the global landscape.
Overall, the global cancer diagnostics marketplace is evolving, underpinned by relentless innovation, strategic governmental measures, and burgeoning market demands. The emphasis on reducing the global cancer burden continues to foster growth and investment in refined diagnostic solutions across the globe.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 240 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $171.99 Billion |
| Forecasted Market Value (USD) by 2030 | $280.37 Billion |
| Compound Annual Growth Rate | 7.2% |
| Regions Covered | Global |
Companies Featured
- llumina
- Abbott Laboratories
- Thermo Fisher Scientific, Inc.
- QIAGEN N.V.
- Roche Holding AG.
- Pfizer, Inc.
- Koninklijke Philips N.V.
- bioMérieux
For more information about this report visit https://www.researchandmarkets.com/r/sidcnr
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