Wilmington, Delaware, United States, Oct. 19, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. -The global non-invasive cancer diagnostics market is projected to flourish at a CAGR of 7.0% from 2022 to 2031. As per the report published by TMR, a valuation of US$ 207 billion is anticipated for the market by 2031.
The rapidly growing geriatric population, increasing incidence of cancer, rise in technological advancements in imaging equipment, and shift in preference toward non-invasive cancer diagnosis techniques are the major factors propelling the global market
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The increase in government initiatives to raise awareness about cancer and the importance of early detection. Such campaigns have increased the demand for non-invasive diagnostic methods that can be easily accessed by the general population, and support the market growth.
Increasing technological innovations and increased research and investments in the development of new non-invasive cancer diagnostic technologies have led to the introduction of innovative and more sensitive detection methods, likely to drive the market growth of non-invasive cancer diagnostics.
Competitive Landscape
The non-invasive cancer diagnostics market is highly fragmented with the presence of a large number of market players. The leading players in the market are investing in new product development, mergers, and acquisitions to gain a competitive edge. Transparency Market Research has profiled the following players in its global non-invasive cancer diagnostics market report:
- The University of Texas MD Anderson Cancer Center
- Memorial Sloan Kettering Cancer Center
- Dana-Farber Cancer Institute
- Beverly Hills Cancer Center
- SimonMed Imaging
- RadNet Management, Inc.
- RAYUS Radiology (Diagnostic Services Holdings, Inc.)
- Unilabs AB
- Sonic Healthcare Limited
- Dr. Lal PathLabs Ltd.
Key Takeaways from the Market Report
- As of 2022, the noninvasive cancer diagnostics market was valued at US$112.1 billion
- By test type, the imaging test segment is rising significantly due to the increasing preference for an imaging test
- Based on end-user, hospitals & clinics segment is expected to account for a significant market share
- By cancer type, the breast cancer segment is expected to generate high revenue during the forecast period.
Non-Invasive Cancer Diagnostics Market: Prominent Drivers and Trends
- Technological advancements in medical imaging, genomics, liquid biopsy, and molecular diagnostics have enabled the development of sophisticated non-invasive cancer diagnostic tools.
- The increasing aging population has contributed to a higher incidence of cancer drives the demand for non-invasive cancer diagnostics, as non-invasive diagnostic techniques are generally less painful and cause minimal discomfort to patients
- The growing trend of precision medicine has increased the demand for non-invasive diagnostic methods that can provide accurate and detailed molecular information.
- Non-invasive cancer diagnostics allow for early detection of cancer, facilitating timely interventions and personalized treatment strategies, making non-invasive methods crucial in the fight against cancer.
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Global Non-Invasive Cancer Diagnostics Market - Regional Analysis
- North America accounted for a significant share of the market in 2022. This can be ascribed to changing demographics, evolving lifestyles, an increase in cancer incidence, and well-established point-of-care diagnostic centers in the United States and Canada.
- Favorable government initiatives, early adoption of new technologies, and increasing awareness about cancer screening contribute to this region's growth.
- The market in Asia Pacific is expected to grow at a rapid pace during the forecast period. The increase in the geriatric population, the surge in the incidence of cancer, and the rise in awareness about non-invasive equipment for cancer diagnosis are expected to augment the market in the region during the forecast period.
- Increased awareness of non-invasive equipment for cancer and the development of new technology for cancer diagnostics in countries like China, Japan, India, and South Korea drive the market demand.
Key Developments in the Global Non-Invasive Cancer Diagnostics Market
- In April 2021 - Unilabs, the leading European diagnostic services provider, agreed on a partnership with GE Healthcare to provide cutting-edge imaging equipment and digital technology in Portugal. The EUR 45m investment from Unilabs is one of the country's biggest-ever investments in healthcare diagnostics. It will help ensure better access to care for thousands of Portuguese patients.
- In February 2023, RadNet Management Inc. announced that it has started implementation of its new Enhanced Breast Cancer Detection (EBCD) service, which works in concert with a patient's annual breast screening regimen. EBCD presents a significantly improved accuracy in breast cancer detection, empowering women to take greater control of their health.
Non-Invasive Cancer Diagnostics Market – Key Segments
Test Type
- Urine Test
- Imaging Test
- Computerized Tomography
- Magnetic Resonance Imaging
- Nuclear Medicine Scans
- X-ray/Mammography
- Ultrasound
- Spectroscopy
Cancer Type
- Breast Cancer
- Lung Cancer
- Blood Cancer
- Ovarian Cancer
- Colorectal Cancer
- Others
End-user
- Hospitals & Clinics
- Ambulatory Care
- Others
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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