Westford, USA, Aug. 29, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, the growth trajectory of the cancer diagnostic market is poised to receive a notable boost in the forthcoming years, thanks to the escalating efforts of governments to propagate awareness about the merits of early diagnosis. Acknowledging the critical role that early detection plays in cancer management, governments worldwide are taking proactive measures to promote public understanding and education.
Browse in-depth TOC on the "Cancer Diagnostic Market"
- Pages - 157
- Tables -149
- Figures – 78
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In the evolving landscape of cancer diagnostics, early detection through a straightforward blood test often called a liquid biopsy, has garnered significant attention within the cancer diagnostic market. This innovative approach represents a transformative facet of diagnostics, offering a non-invasive means to identify potential malignancies early.
Report Scope & Segmentation:
| Attributes | Details |
| Market Size in 2022 | USD 171.5 Billion |
| 2030 Value Projection | USD 276.8 Billion |
| CAGR | 6.89% |
| Forecast Period | 2023-2030 |
| Segments Covered |
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| Regions Covered |
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Prominent Players in the Cancer Diagnostic Market
- Abbott Laboratories
- Agilent Technologies
- Becton, Dickinson and Company (BD)
- bioMérieux SA
- Danaher Corporation
- F. Hoffmann-La Roche Ltd.
- GE Healthcare
- Hologic, Inc.
- Illumina, Inc.
- Koninklijke Philips N.V.
- Merck KGaA
- Myriad Genetics, Inc.
- QIAGEN N.V.
- Quest Diagnostics
- Siemens Healthineers AG
- Sysmex Corporation
- Thermo Fisher Scientific Inc.
- Toshiba Corporation
- Varian Medical Systems, Inc.
- Zimmer Biomet Holdings, Inc.
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Consumables Segment is Expected to Grow in the Market Due to the Significance of Consumables
Consumables segment asserted a dominant presence within the cancer diagnostics market, securing the most significant share at 59.58%. This commanding market share is projected to persist over the forecast period, highlighting the sustained significance of consumables in this sector.
The markets in Europe have asserted a commanding presence within the global cancer diagnostic market, contributing to over 30% of the total revenue. This substantial market share is attributed to the proactive initiatives undertaken by governments across various European nations to address the critical cancer issue.
Instruments Segment is Expected to Dominate the Market Due to the Accelerating Pace of Technological Advancements
In 2022, instruments accounted for the second-largest share within the cancer diagnostics market. This substantial market presence is poised to grow further due to the accelerating pace of technological advancements. These innovations are forecasted to underpin the market's expansion over the designated forecast period.
Regional markets in the Asia Pacific are projected to witness high growth in the cancer diagnostic market due to lifestyle associate choices and the largest population base. For instance, more than 50% of men in Indonesia, China, Malaysia, and Korea are smokers, leading to a high risk of lung cancer and other forms of cancer.
A comprehensive analysis of the major players in the cancer diagnostic market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in the Cancer Diagnostic Market
- In 2022, Karkinos Healthcare, a significant player in the global cancer diagnostic market, took an important step forward by establishing the "Advanced Center for Cancer Diagnostics and Research." This pioneering center is set to serve as a central hub within the company's global oncology network. Operating at the forefront of technology, the center is dedicated to analyzing specimens at the molecular and genomic levels.
- In 2022, Illumina made a substantial contribution to the field by unveiling a novel pan-cancer companion diagnostic. This innovative test kit is designed to match patients harboring rare genetic mutations with targeted therapies and offers a streamlined solution for precise treatment selection.
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Key Questions Answered in Cancer Diagnostic Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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