The global cancer diagnostics market is projected to grow at a CAGR of 14.22%, increasing from US$9.050 billion in 2017 to US$20.099 billion in 2023. As per data by WHO, cancer is the second leading cause of death globally with an estimated 9.6 million deaths in 2018, with the lung, colorectal, stomach, lever and breast cancer being the most common causes of cancer death. Cancer diagnostic testing involves tests and procedures to confirm the presence of disease and identify the correct tumour type, location, extent and stage. Correct diagnosis of the disease is important to develop an individualized cancer treatment plan. Cancer diagnostics market is expected to show a significant growth during the given forecast period. The rise in the market may be attributed to the rising prevalence of the disease coupled with the rising awareness among the people regarding the disease. Initiatives undertaken by governments and global health organizations to spread awareness about cancer will also boost the market during the given forecast period. However, high cost of diagnostic imaging systems along with the high capital investments might restrain the market for cancer diagnostics during the given forecast period.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical region. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the global cancer diagnostics market value chain. Last step involves complete market engineering which includes analysing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the global cancer diagnostics market.
Major industry players profiled as part of the report are bioMérieux, Inc, Arquer Diagnostics Ltd and Castle Biosciences, Inc. among others.
By Diagnostic Procedures
By End Users
Hospitals and Clinics
Middle East and Africa