Cancer Diagnostics Market – The Biggest Trends to watch out for 2017-2023
The report titled “Cancer Diagnostics Market -Forecast to 2023″ is a direct appreciation by Market Research Future of the market potential of the Cancer Diagnostics Market. The report intends to provide accurate and meaningful insights, both quantitative as well as qualitative. It can be said with high confidence level, that this report will satisfy the need for comprehensive insights needed to compete and beat other players in today’s winner takes all market! The global cancer diagnostics market is expected to grow at a CAGR of 11.8% during the forecast period 2017-2023.
MarketResearchFuture.com adds “Cancer Diagnostics Market -2018 Global Analysis, Growth, Trends and Opportunities Research Report Forecasting to 2023” reports to its database.
Regional Analysis:
The Americas dominate the global cancer diagnostics market owing to the presence of huge patient population with cancer, high healthcare spending, and increasing government support for research & development. According to a report published by the breast cancer information and awareness, in 2017, around 252,710 new cases of invasive breast cancer are expected to be diagnosed in women, along with 63,410 new cases of non-invasive breast cancer.
Europe holds the second largest share of the global cancer diagnostics market as result of increasing focus of various government agencies on the treatment of diseases. Moreover, the growing public awareness is also likely to boost the European market.
Asia Pacific is the fastest growing market across the globe. Moreover, rapidly developing economy, increasing healthcare expenditure, and the government initiatives for research & development are projected to drive the market in China and India.
The Middle East and Africa holds the least share of the global market due to limited availability of medical facilities. The UAE, Saudi Arabia, and Kuwait are expected to drive the Middle East & African market. Whereas, the African region is expected to witness a moderate growth.
Key Players in the Cancer Diagnostics Market:
Cancer Diagnostics, Inc. (US), Myriad Genetics (Switzerland), Cancer Genetics Inc. (US), Inspirata (U.S), Genomic Health, Inc. (U.S), Paradigm Diagnostics, Inc.(U.S), MEDITE Cancer Diagnostics, Inc. (U.S), MDxHealth (U.S), Biotheranostics (U.S), Pacific Edge (New Zealand), Ventana Medical Systems, Inc. (U.S.), BioMark Diagnostics Inc. (Canada), 20/20 GeneSystems Inc. (U.S.), Provista Diagnostics, Inc. (U.S.), Armune BioScience (U.S.), Arquer Diagnostics Ltd, Oncimmune Limited (UK), MetaCell (Czech Republic), Progenics Pharmaceuticals, Inc. (U.S.), and others.
Cancer Diagnostics Market-Overview:
Cancer is a life threatening disease, creating economic burden on the population. Therefore, there is need to determine new diagnostic tools and techniques. Increasing prevalence of cancer such as lung cancer, breast cancer, liver cancer, and others will boost the market during the forecast period. Moreover, rising healthcare expenditures, increasing awareness for the disease, and investments in the R&D for treatment procedures is fuelling the market.
However, high cost of treatment and related side effects along with low healthcare expenditures in the developing economies is expected restrain the market during the forecasted period.
According to the Centres for Disease Control and Prevention (CDC), U.S. health care spending in 2015, reached USD 3.2 trillion or USD 9,990 per person which accounted for 17.8% of the total GDP. Moreover, the presence of the global market leaders like Pfizer Inc. and Bristol-Myers Squibb Company within the region fuels the market growth during the forecast period.
According to the American Cancer Society, in 2017, it is estimate that around 161,360 new cases of prostate cancer will get diagnosed and around 26,730 death occurs owing to prostate cancer in United States.
According to report published by breast cancer information and awareness, in 2017, around 252,710 new cases of invasive breast cancer are expected to be diagnosed in women, along with 63,410 new cases of non-invasive breast cancer.
According to Cancer research UK, in 2014, new cases of cancer are 356,860, including 579 cases of bone cancer.
Key developments:
Strategic approaches adopted help the major players to sustain their growth in the market and develop their business in various geographical areas across the globe. Agreements and collaborations, mergers and acquisitions, and new product launches are various strategies followed by the key players. In January, 2015, Roche and Qualcomm Incorporated entered into a strategic collaboration to improve remote monitoring and management of chronic disease patients.
Most of the cancer is hard to catch, even if we are aware of the symptoms to search for. This leads to a late diagnosis and makes treatment more difficult. Thus, companies are more into merger and acquisition activity in order to introduce better diagnosis procedure. The key players are also engaged in research and development activities to development new devices for cancer diagnosis.
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Ventana Medical Systems, Inc.:
Ventana Medical Systems, Inc. is a member of Roche Group offers tissue-based diagnostic solutions for patients worldwide.
- November, 2017: Roche launched “DISCOVERY Teal HRP kit1”, the newest addition to the collection of modular-based detection kits used to identify and profile biomarkers and cell populations in tissue-based research. This launch has helped the company to expand its product portfolio, and thus achieve leadership in cancer diagnostics.
- April, 2017: Roche announced the global launch of the anti-p504s (SP116) Rabbit Monoclonal Primary Antibody2 for prostate cancer diagnosis. This launch will help the company to strengthen its position in in-vitro cancer diagnostics.
- May, 2016: Roche announced the launch of the DISCOVERY Yellow Kit1, the newest addition to the collection of VENTANA modular-based detection kits to aid in the identification and profiling of cancer biomarkers and tumor cell populations.
Progenics Pharmaceuticals, Inc.:
- Progenics Pharmaceuticals, Inc., 2015, acquired Exini Diagnostics AB in order to support its imaging and therapeutic agents with sophisticated analytical tools and other technologies to help patients and physicians understand, target and treat prostate cancer.
Segmentation:
The global cancer diagnostics market is segmented on the basis of types, application, and end user. On the basis of the type, it is segmented into biopsy based, endoscopy based, imaging procedure, tumor cancer diagnostics, and others. On the basis of the application, it is segmented into lung cancer, breast cancer, colorectal cancer, cervical cancer, prostate cancer, skin cancer, blood cancer, kidney cancer, liver cancer, pancreatic cancer, and others. On the basis of the end user, it is segmented into diagnostic center, clinic, hospital, research institutes, and others.
BRIEF TOC:
1. Report Prologue
- Market Introduction
2.1 Definition
2.2 Scope Of the Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations - Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation - Market Dynamics
4.1 Drivers
4.2 Restrains
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment - Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power of Suppliers
5.1.2 Bargaining Power of Buyers
5.1.3 Threat of New Entrants
5.1.4 Threat of Substitutes
5.1.5 Intensity of Rivalry
5.2 Value Chain Analysis
5.3 Investment Feasibility Analysis
5.4 Pricing Analysis
…CONTINUED
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Posted by
Vivian Dsena
on Friday February 09 2018, 5:51 AM EST.
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