Cancer Diagnostics Market by Product (Consumables and Instruments), Application (Breast Cancer, Breast Cancer, Lung Cancer, Blood Cancer, Colorectal Cancer, Skin Cancer, Ovarian Cancer, Prostate Cancer, Kidney Cancer, Liver Cancer, Pancreatic Cancer, Cervical Cancer, and Others), and End Use (Hospitals & Clinics, Diagnostic Laboratories, Diagnostic Centers, and Research Institutes): Opportunity Analysis and Industry Forecast, 2021–2028
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.
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.
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.
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.
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.
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
By End Use • Hospitals & Clinics • Diagnostic Laboratories • Diagnostic Imaging Centers • Research Institutes
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.
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