Global Cancer Diagnostics Market Worth $249.6 Billion By 2026
The cancer screening market is witnessing a rapid upsurge due to a rapid rise in the number of cancer cases. There lies an immediate need to seek early diagnosis and precautionary measures. The growth of the market lies in the adoption of innovative screening technologies to cater to the cause. High-scale investments are being adopted by entities on diagnostic instruments along with collaboration with the government to ensure instrument accessibility. The global cancer screening market is expected to grow at a compound annual growth rate (CAGR) of 11% during the forecast period. The market is expected to return a revenue of USD 152.10 Bn by 2023.
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The cancer screening market is segmented based on the type of end users (hospitals, laboratory, independent physicians and clinics), screening type (laboratory, genetic, imaging, biopsy, and endoscopy) and application type (lung, breast, melanoma, kidney and colorectal). North America and Europe will be the leading regions for the market. Asia-Pacific is the fastest growing region for the cancer screening market while Latin America needs to work on its economic scenario to fulfil the region’s growing need for cancer diagnosis.
Key growth factors
The rise in the number of cancer cases and growing awareness among people to seek preventive measures along with government-centered initiatives towards cancer prevention is driving the cancer screening market. Prevention calls for innovative methodologies and technologies to be accessible for early diagnosis.
Threats and key players
There lies an underlying threat to provide affordable and accessible treatment to all. Along with this providing transparency and safety of medical procedures will be a key challenge for the cancer screening market.
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The key players operating in this market are GE healthcare (Illinois), Siemens Healthineers (Germany), Abbott Diagnostics (U.S.), F.Hoffmann-La Roche (Switzerland), Thermo Fisher Scientific (U.S.), Hologic Inc. (U.S.), Becton Dickinson and Company (New Jersey), Qiagen (Germany), Philips (Netherlands) and Illumina (California).
What is covered in the report?
- Overview of the cancer screening market.
2. Market drivers and challenges in the cancer screening market.
3. Market trends in the cancer screening market.
4. Historical, current and forecasted market size data for segments based on the type of end users (hospitals, laboratories ,independent physicians and clinics).
5. Historical, current and forecasted market size data for segments based on screening type (laboratory, genetic, imaging, biopsy and endoscopy).
6. Historical, current and forecasted market size data for segmentation based on application (lung, breast, melanoma, kidney, colorectal)
8. Historical, current and forecasted market size data for segments based on geography (North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa)
9. Analysis of the competitive landscape and profiles of the major companies operating in the market
o Understand the demand for the cancer screening market to determine the viability of the market.
o Identify the developed and emerging markets where cancer screening market is operative.
o Identify the challenge areas and address them.
o Develop strategies based on the drivers, trends and highlights for each of the segments.
o Recognize the key competitors of this market and respond accordingly.
o Knowledge of the initiatives and growth strategies taken up by the major companies and decide on the direction for further growth.
o Define the competitive positioning by comparing the products and services with the key players in the market.
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