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Cancer Diagnostics Market Size, Trends and Industry Outlook by Type (Imaging Testing, Biomarkers Testing, In Vitro Diagnostic Testing, Biopsy and others), Application (Lung Cancer, Breast Cancer, Colorectal Cancer, Melanoma Cancer, Prostate Cancer, Liver Cancer and others), End-User (Diagnostic Centers, Hospitals and Clinics, Research Institutes and others) and Region (Americas, Europe, Asia-Pacific and the Middle East & Africa) – Forecast till 2030
Market Research Future Insights
Cancer Diagnostics Market Size was valued at USD 160.2 billion in 2021 and is projected to grow from USD 170.9 billion in 2022 to USD 269.1 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.70% during the forecast period (2022 – 2030).
The global cancer diagnostics market refers to the total market value of products, services, and technologies used in the diagnosis and detection of cancer. This includes various diagnostic tests, imaging techniques, and biopsy procedures that help healthcare professionals identify the presence, location, and stage of cancer in patients. The market is driven by the increasing prevalence of cancer worldwide and the need for accurate and early diagnosis to improve patient outcomes.
The COVID-19 pandemic had a significant impact on the global cancer diagnostics market. The pandemic has led to disruptions in the supply chain, a decrease in patient visits to healthcare facilities, and a shift in focus towards COVID-19 diagnosis and treatment. As a result, the demand for cancer diagnostic tests, imaging, and procedures has decreased in many regions, leading to a decline in market growth.
The pandemic has also highlighted the need for remote diagnostics and telemedicine, as patients are avoiding in-person visits to healthcare facilities.
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Market Segmentation
The Global Cancer Diagnostics Market has been segmented into type, application and end user.
Based on the type, the market has been segmented into imaging testing, biomarkers testing, in vitro diagnostic testing and biopsy.
Based on the application, the market has been segmented into lung cancer, breast cancer, colorectal cancer, melanoma cancer and prostate cancer.
Based on the end user, the market has been segmented into diagnostic centers, hospitals and clinics and research institutes.
Key Players
Some of the key market players are:
Exact Sciences Corporation
Arquer Diagnostics Ltd
BioMark Diagnostics Inc.
Biotheranostics
Agilent Technologies
Thermo Fisher Scientific
Illumina
Becton Dickinson and Company (BD)
GE Healthcare
QIAGEN N.V.
Abbott Laboratories
Regional Analysis
North America is currently the largest region in the global cancer diagnostics market in terms of market size and revenue. This is due to the high prevalence of cancer in the region, along with a well-established healthcare infrastructure and increasing adoption of advanced cancer diagnostic technologies.
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In North America, the United States is the largest market for cancer diagnostics, driven by factors such as a large patient pool, high healthcare spending, and favorable reimbursement policies for cancer diagnostics procedures.
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