Global Cancer Diagnostics Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Diagnostic Procedures (Laboratory Tests, Imaging Procedures, Biopsy), By Application (Lung Cancer, Breast Cancer, Colorectal Cancer, Skin Cancer, Stomach Cancer, Other Cancers), By End Users (Hospitals And Clinics, Diagnostic Centres), And By Geography - Forecasts From 2022 To 2027
- Published : Feb 2022
- Report Code : KSI061611698
- Pages : 126
The Cancer Diagnostics market was valued at US$9.653 billion in 2020 and is expected to grow at a CAGR of 13.93% over the forecast period to reach a total market size of US$24.050 billion by 2027.
Biomarkers help in the detection of cancerous tumors when diagnostics are performed. In addition to validating or ruling out illness, monitoring disease progression, and analyzing treatment outcomes, diagnostic testing is essential for accurate diagnosis. The cancer diagnostics market is set to expand during the forecast period as incidences and prevalence of various types of cancer are increasing exponentially. Furthermore, cancer diagnostics will continue to gain traction due to technological advancements that have led to the improvement in cancerous cells imaging to identify the type of cancer, as well as improve the efficiency of analysis. In 2021, the United States saw 1.9 million new cancer cases and 608,570 deaths due to these diseases. There were about 10,500 new cancer diagnoses in 2021 among children and 5,090 in adolescents (15-19 years of age). Furthermore, the number of women diagnosed with invasive breast cancer increased to 281,550.
In the coming years, the market growth is being driven by an increase in government initiatives to spread awareness about early cancer detection & prevention. A new Mammogram screening awareness campaign was announced by Fujifilm Medical Systems United States in June 2019 in support of the early detection of breast cancer in the country. A national campaign to promote regular colorectal cancer screening for those over 45 years of age, Screen for Life: National Colorectal Cancer Action Campaign informs adults about the benefits of getting screened for colorectal cancer.
- The increasing number of cancer cases
Cancer diagnostics market growth is primarily driven by the growing number of cancer cases worldwide. Globally, 19.3 million new cases of cancer were reported in 2020, and it is predicted that this number will grow to 30.2 million by 2040. According to the World Health Organization's factsheet, cancer is the cause of about one death out of six worldwide. 70% of cancer deaths occur in countries with low or middle incomes. The market is also expected to expand due to the emergence of new technologically advanced cancer diagnostics products. As a result of the above factors, Allengers have launched the ACUTOM-32 CT scanner in India in January 2020 in a collaboration with Canon Medical Systems Corporation (CMSC). Additionally, Mumbai-based Epigeneres Biotechnology and Singapore-based Tzar Labs, which are both run by nanotechnologist Vinay Kumar Tripathi and members of his family, published a peer-reviewed article asserting 100 percent of the claimed efficacy. If cleared by regulators by the end of 2021, a new Indian biotechnology initiative could play a dramatic role in advancing the detection of cancer and saving millions of lives.
- Government awareness programs:
Globally, governments have launched campaigns to spread awareness of early cancer diagnosis. In the United States, the Inside Knowledge campaign informs the public of about five kinds of gynecological cancer: cervical, ovarian, uterine, vaginal, and vulvar. By paying attention to their bodies and seeking medical attention when warning signs appear, it encourages women to recognize danger signs. Another national campaign to promote regular colorectal cancer screening for those over 45 years of age, Screen for Life: National Colorectal Cancer Action Campaign informs adults about the benefits of getting screened for colorectal cancer.
- Lack of universal health coverage:
There are however a few factors that are limiting the global cancer diagnostics market growth, including strict regulatory frameworks and the lack of universal health coverage. Biomarkers with a low benefit-cost ratio, helium shortage, and radiation risk are some of the factors restraining the market growth.
COVID-19 Impact Cancer Diagnostics Market:
There has been a marked impact on hospital resources around the world as a result of the COVID-19 outbreak. As a result, outpatient and inpatient services for other diseases have been dramatically reduced and infection prevention and control programs implemented. The pandemic caused a precipitous drop in cancer screenings and diagnosis, with countries around the world scrambling to contain the spread. The market experienced a significant setback as a result of the outbreak of COVID-19. Consequently, the healthcare system focused its attention on stopping COVID-19 cases and delaying treatment of other chronic conditions, such as cancer. Hence, the cancer diagnostics market was affected negatively in the short run. however, that diagnostic procedures for cancer will increase significantly with the large-scale vaccinations and the opening of economies and hospitals.
Global Cancer Diagnostics Market Scope:
|Market size value in 2020||US$9.653 billion|
|Market size value in 2027||US$24.050 billion|
|Growth Rate||CAGR of 13.93% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Diagnostic Procedures, Application, End Users, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||bioMérieux SA, F. Hoffmann-La Roche Ltd, Sienna Cancer Diagnostics, Insight Medical Genetics, MetaCell, Breath Diagnostics, Inc, Arquer Diagnostics Ltd, Metabiomics, Castle Biosciences, Inc.|
|Customization scope||Free report customization with purchase|
- By Diagnostic Procedures
- Laboratory Tests
- Imaging Procedures
- By Application
- Lung Cancer
- Breast Cancer
- Colorectal Cancer
- Skin Cancer
- Stomach Cancer
- Other Cancers
- By End Users
- Hospitals and Clinics
- Diagnostic Centres
- By Geography
- North America
- United States
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
Q1. What are the growth prospects for the cancer diagnostics market?
A1. The global cancer diagnostics market is expected to grow at a CAGR of 13.93% during the forecast period.
Q2. What will be the cancer diagnostics market size by 2027?
A2. The cancer diagnostics market is expected to reach a market size of US$24.050 billion by 2027.
Q3. What is the size of the global cancer diagnostics market?
A3. Cancer Diagnostics Market was valued at US$9.653 billion in 2020.
Q4. How is the cancer diagnostics market segmented?
A4. The cancer diagnostics market has been segmented by diagnostic procedures, application, end-users, and geography.
Q5. What factors are anticipated to drive the cancer diagnostics market growth?
A5. Cancer diagnostics market growth is primarily driven by the growing number of cancer cases worldwide.
1.1. Market Definition
1.2. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Powers of Buyers
4.3.3. Threat of Substitutes
4.3.4. The threat of New Entrants
4.3.5. Competitive Rivalry in Industry
4.4. Industry Value Chain Analysis
5. GLOBAL CANCER DIAGNOSTICS MARKET, BY DIAGNOSTIC PROCEDURES
5.2. Laboratory Test
5.3. Imaging Procedures
6. GLOBAL CANCER DIAGNOSTICS MARKET, BY APPLICATION
6.2. Lung Cancer
6.3. Breast Cancer
6.4. Colorectal Cancer
6.5. Skin Cancer
6.6. Stomach Cancer
7. GLOBAL CANCER DIAGNOSTICS MARKET, BY END-USERS
7.2. Hospitals and Clinics
7.3. Diagnostic Center
8. GLOBAL CANCER DIAGNOSTICS MARKET, BY GEOGRAPHY
8.2. North America
8.2.1. United States
8.3. South America
8.4.3. United Kingdom
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.6. Asia Pacific
8.6.3. South Korea
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrative
9.3. Mergers, Acquisition, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.1. bioMérieux SA
10.2. F. Hoffmann-La Roche Ltd
10.3. Sienna Cancer Diagnostics
10.4. Insight Medical Genetics
10.6. Breath Diagnostics, Inc
10.7. Arquer Diagnostics Ltd
10.9. Castle Biosciences, Inc.
F. Hoffmann-La Roche Ltd
Sienna Cancer Diagnostics
Insight Medical Genetics
Breath Diagnostics, Inc
Arquer Diagnostics Ltd
Castle Biosciences, Inc.
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