Farmington, Jan. 13, 2023 (GLOBE NEWSWIRE) -- The Global In-vitro Cancer Diagnostic Market is expected to grow at a CAGR of 3.9% during the forecasting period 2023-2030. Cancer is the growth of cells out of control, which can cause tumours and mess up the digestive, nervous, and circulatory systems. Hormones are released by tumour cells, which change how the body works. Benign cancers are those that stay in the same place and don't grow too much. At the same time, cancer cells that spread through the body and kill healthy cells by using lymph and blood are called malignant cancer. In vitro cancer diagnosis is a way to look at body fluids, tissues, faeces, urine, and blood samples with the help of chemicals and medical tools. These samples come from a person's body and are used to find and diagnose infections, conditions, and diseases. These tests can be done at the point of care, in a lab at a hospital, or in a separate lab. As technology and design for in vitro cancer diagnostics continue to change, researchers and doctors are being forced to focus on personalised medicines instead of traditional diagnostic methods.
Request Sample Copy of Report “In Vitro Cancer Diagnostics Market - Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030”, published by Contrive Datum Insights.
Recent Developments:
- In November 2018, Roche launched the first automated in vitro diagnostic VENTANA pan-TRK assay to detect tropomyosin receptor kinase protein in cancer.
Regional Outlook:
North America is expected to be the biggest market for in vitro cancer diagnostics because it has a lot of advanced technologies and well-known market players from countries like the United States and Canada.
Due to more diagnostic opportunities in cancer screening and genetic testing, Europe is expected to be a good place for the global in vitro cancer diagnostics market to grow.
Due to the growth of healthcare infrastructure in countries like India, the in vitro cancer diagnostics market as a whole is expected to grow slowly in the Asia-Pacific region. Leading market players can set up R&D centres in Asia-Pacific countries because it's easy to get key resources like land and people to work there.
Over the next few years, the overall market is likely to grow slowly in the rest of the world.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 3.9% from 2023 to 2030. |
| By Type | Instruments, Reagents and Kits, Other |
| By Technique Type | Molecular Diagnostics, Clinical chemistry, Point-Of-Care, Others |
| By Application | Laboratories, Hospitals, Others |
| By Companies | MDx Health Quest Diagnostics, R-Biopharm AG, Signature Diagnostics, Siemens Healthcare, Randox Laboratories, Epigenomics AG |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Dynamics:
The growth of the global in vitro cancer diagnostics market is caused by a number of factors. Some of the most important ones are the increasing rates of chronic and infectious diseases, the growing number of older people, the growing demand for preventive medicines and companion diagnostics, and positive government initiatives.
The market is likely to grow because more people are using Point-of-Care (POC) and IVD tools are getting smarter.
The market is growing because more and more people are using and wanting POC devices. Demand for POC devices is also being driven by the development of new technologies like biochips, nanotechnology, and the miniaturisation of microfluidic tools. Because of these new technologies, it is easy to get diagnostic tests at the point of care and test results are quick and accurate. This has made the in vitro cancer diagnostics market more popular. So, on April 11, 2019, Sophia Genetics said that it will treat lung, colorectal, skin, and brain cancers as part of its fight against cancer.
The global in vitro cancer diagnostics market is expected to grow because there are more people getting cancer.
The World Health Organization (WHO) says that cancer is the second leading cause of death around the world. In 2018, more than 18.1 million people were diagnosed with cancer. In the United States, the most common types of cancer are lung, breast, prostate, colorectal, thyroid, pancreatic, non-lymphoma, Hodgkin's melanoma, renal pelvic, kidney, and leukaemia. WHO says that in 2020, there will be about 19 million new cases of cancer around the world. In the same way, the American Cancer Society said that 89,500 new cases would be found in the US in 2020. Because of these numbers, more and more people are using in vitro cancer diagnostic devices.
Conditions like storage and transportation make it hard for the market to grow significantly.
During the forecast period, the growth of the market is likely to be slowed by the rapid changes in clinical laboratories. During the next few years, the market growth is likely to be slowed by the need for technical know-how to run these systems, the need for special storage conditions, and the cost of shipping.
Key Segments Covered:
Top Market Players:
MDx Health Quest Diagnostics, R-Biopharm AG, Signature Diagnostics, Siemens Healthcare, Randox Laboratories, Epigenomics AG, and others.
By Type
- Instruments
- Reagents and Kits
- Other
By Technique Type
- Molecular Diagnostics
- Clinical chemistry
- Point-Of-Care
- Others
By Application
- Laboratories
- Hospitals
- Other
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
Check out more related studies published by Contrive Datum Insights:
- In Vitro Diagnostics (IVD) Quality Control Market - The Global In Vitro Diagnostics (IVD) Quality Control Market size was valued at USD 92.08 billion in 2021. The market is projected to grow from USD 71.43 Billion in 2022 to USD 107.42 Billion by 2030, exhibiting a CAGR of 6.0% during the forecast. In 2019, North America was the leader in the global market for in vitro diagnostic quality control, and it is expected to stay at the top throughout the forecast period.
- IVD Market - The global in vitro diagnostics market size was valued at $71,496.16 Million in 2022, and is projected to reach $106,914.16 Million by 2030, growing at a CAGR of 4.08% from 2022 to 2030. In 2021, the North American market was worth USD 35.92 billion, and it is expected to continue to be the largest market in the world for the next five years.
- Breast Cancer Market - The global Breast Cancer Market size was estimated at USD 31.89 Billion in 2022 and is projected to hit around USD 70.51 Billion by 2030 with a registered CAGR of 10.43% during the forecast period 2022 to 2030. North America has the biggest share of the breast cancer market and is the market leader.
- Anal Cancer Therapeutics Market - The global Anal Cancer Therapeutics market is expected to exhibit a CAGR of 6.5% over the forecast period (2022-2030). During the next few years, the anal cancer therapeutics market is expected to be led by North America.
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