U.S (New York) – Report Ocean has recently published a comprehensive research report titled “Cancer Diagnostics Market ” Research Report 2023-2031. This report delves deep into the market and offers valuable insights into (Key Market Trends, Emerging Technologies, Market Drivers and Challenges of the Industry, Regulatory Policies), company profiles of key players, and their strategies. With over 100+ market data tables, pie charts, graphs, and figures, this global market study is now available. The report provides a thorough evaluation of the market, (Encompassing Future Trends, Current Growth Factors, Expert Opinions, Factual Information), and industry-validated market data, with a forecast extending until 2031.
The cancer diagnostics market was valued at $168,600.04 million in 2020, and is projected to reach $280,590.21 million by 2028, registering a CAGR of 6.9% from 2021 to 2028. The major factor that contributes to the growth of the cancer diagnostics market includes surge in government initiatives and other private organizations to spread awareness regarding early diagnosis and prevention of cancer, which is anticipated to boost the growth of the market in the coming years. Furthermore, the growth in the number of diagnostics laboratories in developed countries is expected to drive the market growth in the next few years. Increase in incidences and prevalence of various types of cancer, such as breast cancer and lung cancer, are expected to drive the growth of the market.
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Cancer diagnostics is the process of detecting biomarkers, proteins, and other indicators that contribute to the detection of a cancerous tumor. Effective diagnostic testing is used to confirm or rule out the presence of infection, monitor disease severity, and plan & evaluate clinical outcomes. Diagnostic procedures for cancer may include imaging, laboratory tests (including tests for tumor markers), endoscopic examination, tumor biopsy, surgery, or genetic testing.
However, huge cost associated with diagnostic imaging system and development of different diagnostic approaches for various cancer mutations may hinder the growth of the market. Conversely, increase in emphasis over health & safety regulations and surge in popularity of yoga and other health related practices will act as a growth opportunity during the forecast period.
The cancer diagnostics market is segmented on the basis of basis of product, application, and end use to provide a detailed assessment of the market. By product, the market is bifurcated into consumables and instruments. Further, consumables are divided into antibodies, kits & reagents, probes, and other consumables. Instruments include pathology-based instruments, imaging instruments, and biopsy instruments. On the basis of application, the market is fragmented into breast cancer, lung cancer, blood cancer, colorectal cancer, skin cancer, ovarian cancer, prostate cancer, kidney cancer, liver cancer, pancreatic cancer, cervical cancer, and others. Based on end use, the market is classified into hospitals & clinics, diagnostic laboratories, diagnostic imaging centers, and research institutes. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
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KEY BENEFITS FOR STAKEHOLDERS
– The study provides an in-depth analysis of the market along with the current trends and future estimations to elucidate the imminent investment pockets.
– It offers a quantitative analysis from 2020 to 2028, which is expected to enable the stakeholders to capitalize on the prevailing market opportunities.
– A comprehensive analysis of factors that drive and restrain the growth of the market is provided.
– The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the market.
LIST OF KEY PLAYERS PROFILED IN THE REPORT
– Abbott Laboratories
– Becton, Dickinson and Company
– Bio-Rad Laboratories, Inc.
– Roche Holdings AG (F. Hoffmann-La Roche Ltd.)
– Danaher Corporation (GE Healthcare)
– Hologic, Inc.
– Koninklijke Philips N.V. (Philips Healthcare)
– Qiagen N.V.
– Siemens Healthcare GmbH
– Thermo Fisher Scientific Inc.
KEY MARKET SEGMENTS
By Product
– Consumables
o Antibodies
o Kits & Reagents
o Probes
o Other consumables
– Instruments
o Pathology-based Instruments
o Imaging Instruments
o Biopsy Instruments
By Application
– Breast Cancer
– Colorectal Cancer
– Cervical Cancer
– Lung Cancer
– Prostate Cancer
– Skin Cancer
– Blood Cancer
– Kidney Cancer
– Liver Cancer
– Pancreatic Cancer
– Ovarian Cancer
– Others
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By End Use
– Hospitals & Clinics
– Diagnostic Laboratories
– Diagnostic Imaging Centers
– Research Institutes
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