Global Cancer Diagnostics Market is expected to reach USD 232.7 billion by 2025, according
to a new report by Grand View Research, Inc. Continual introduction of
innovative products coupled with increasing need for early diagnosis of the
disease is the prime factor driving the market growth. In addition, rapid
growth of the sector is attributed to the penetration of technologically
advanced laboratory systems that have improved oncological screening in
yielding accurate outcomes. Rising incidence of cancer is triggering the demand
for these screening tests and imaging modalities that are used for monitoring
disease progression.
Collaborative and independent initiatives led by
governments and companies are striving to raise cognizance about the benefits
of early diagnosis of the disease. In addition, cancer research organizations
along with public and private entities are investing heavily on research
projects to launch advanced diagnostic tools in the market, which are capable
of diagnosing the disease way before the symptoms appear.
Furthermore, giant players are collaborating with
governments and other agencies to enhance patient accessibility of their
products. For instance, Illumina, Inc. launched a new venture named GRAIL with
investors, Jeff Bezos and Bill Gates, with an investment of more than $100
million. GRAIL is mainly focused on blood-based oncological screening for
timely diagnosis of the most common tumor types through simple laboratory
tests.
Full
Research Report on Global Cancer Diagnostics Market Analysis:
http://www.grandviewresearch.com/industry-analysis/cancer-diagnostics-market
http://www.grandviewresearch.com/industry-analysis/cancer-diagnostics-market
Further Key Findings from the Study Suggest:
- Rapid
adoption of technology and escalating need for early diagnosis is
augmenting the growth of the imaging systems space. Thus, the segment is
expected to grow at the fastest CAGR at over 8.0% during the forecast
period.
- The
breast cancer segment, among other application segments, accounted for the
largest share due to the high incidence rate of breast cancer triggering
the need for its early diagnosis.
- In
2016, North America dominated the global space with the largest revenue
share of more than 41%. Focused research efforts in oncology for the
development of early tumor detection tools coupled with grants from
government healthcare agencies are contributing to a strong medical
ecosystem to fight cancer in this region.
- Asia
Pacific is expected to emerge as the fastest growing region during the
forecast period. The growing patient pool in India, China, and Japan; due
to the support in diagnostic process at comparatively lower prices; and a
favorable regulatory framework are some of the factors boosting the market
growth in this region.
- Major
players competing in this market include GE Healthcare; Abbott;
Hoffmann-La Roche Ltd and Siemens Healthcare GmbH. Other prominent players
operating in the market include but are not limited to Becton Dickinson
& Company; Illumina, Inc.; Koninklijke Philips N.V.; .and Hologic,
Inc.
View
more reports of this category by Grand View Research at: http://www.grandviewresearch.com/industry/clinical-diagnostics
Grand
View Research has segmented the Global Cancer Diagnostics Market by screening
type, application, and region:
Cancer
Diagnostics Screening Type Outlook (Revenue, USD Billion; 2014 - 2025)
- Laboratory
Tests
- Genetic
Tests
- Imaging
- Endoscopy
- Biopsy
- Others
(barium enema)
Cancer
Diagnostics Application Outlook (Revenue, USD Billion; 2014 - 2025)
- Breast
Cancer
- Colorectal
Cancer
- Cervical
Cancer
- Lung
Cancer
- Prostate
Cancer
- Skin
Cancer
- Blood
Cancer
- Kidney
Cancer
- Liver
Cancer
- Pancreatic
Cancer
- Ovarian
Cancer
- Others
Cancer
Diagnostics Regional Outlook (Revenue, USD Billion; 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- Germany
- UK
- Asia
Pacific
- China
- Japan
- India
- Latin
America
- Mexico
- Brazil
- MEA
- South
Africa
View Press Release Of This Report by
Grand View Research: http://www.grandviewresearch.com/press-release/global-cancer-diagnostics-market
About Grand View
Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For more Information visit: www.grandviewresearch.com
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