Cancer diagnostics market statistics and research analysis released in latest report

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 A research study conducted by Global Market Insights, Inc., suggests that Cancer Diagnostics Market is likely to exceed the $170 billion mark by 2025, in terms of revenue. Growing awareness regarding early disease diagnosis coupled with increasing number of diagnostic and research laboratories will drive cancer diagnostics market demand over the forthcoming time period. Evolving healthcare infrastructure of developing countries, rising awareness about cancer, and increasing healthcare spending will further influence the market growth positively.


With growing prevalence of cancer cases across the globe, key industry players are increasingly focusing on consolidating their position in the market through several tried-and-tested methods. Citing an instance, on 29th June 2020, BioCare Medical, a renowned provider of automated, innovative, immunohistochemistry (IHC) instrumentation and reagents, reportedly announced a collaborative partnership with Bethyl Laboratories for developing targeted antibodies for oncology diagnostics and cancer research. This partnership will further provide BioCare strong synergy to accelerate research antibodies of Bethyl into the clinical market space.


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Myriad usage across many industries, such as healthcare, manufacturing, and food & beverage Based on type, the rectal and colon and cancer segment is expected to observe substantial growth over the projected time period. It is likely to reach a valuation of over $16.9 billion by the end of the analysis timeframe. Increasing incidence of colorectal cancer amongst young adults has further raised the demand for rectal and colon cancer diagnostic products. As per the American Cancer Society, since 1994 cases of colorectal cancer in individuals aged under 50 years has increased by 51%. In fact, nearly 16,000 people aged below 50 years are diagnosed with colorectal cancer annually, stimulating the demand for disease monitoring diagnostic kits.


In terms of end-use, in 2018, the cancer research institutes segment was valued at approximately $6.4 billion and is expected to experience rapid growth over the forecast timeframe. The growth is being ascribed to investments by market players looking to accelerate research activities regarding cancer diagnosis owing to the increasing demand for advanced cancer diagnostic tools. Key companies operating in the market are also joining forces with research institutes to reinforce their R&D as well as advanced new product development processes, which will further drive segmental growth.


In addition, there is need for new technologies that could be applied in the operating room for helping surgeons by providing them with the information on the absence or presence of cancer at specific position of the body. In that regard, mass-spectrometry based techniques are picking up traction as they prove to be extremely helpful for improving the diagnosis and monitoring of patients with cancer.


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Through a regional perspective, the Germany cancer diagnostics industry is anticipated to witness more than 9.0% CAGR over the estimated timeframe. Substantial expenditure on healthcare along with high technological adoption will fuel the cancer diagnostics market growth in the region. Furthermore, as the risk of various type of cancer increases with age, the region’s increasing geriatric population base will drive Germany cancer diagnostics segment growth in the coming years.

The competitive landscape of caner diagnostics market includes Qiagen, Siemens Healthcare, Sysmex Corporation, Hologic, bioMerieux, Abbott Laboratories, Cancer Genetics, Bio-Rad Laboratories, Biocartis, Dickinson and Company (BD), Roche, Alere, Becton, GE Healthcare, and BioCare Medical among others.


Browse key industry insights spread across 244 pages with 257 market data tables & 16 figures & charts from the report, “Cancer Diagnostics Market Size, By Application (Tumor Biomarkers Tests, Imaging {Ultrasound and Radiology, Mammography, MRI Scan, PET Scan, CT Scan, SPECT & Others}, Biopsy, Liquid Biopsy, Immunohistochemistry, In Situ Hybridization), By Cancer Type (Bladder Cancer, Breast Cancer, Colon and Rectal Cancer, Endometrial Cancer, Kidney Cancer, Leukemia, Liver-Lung Cancer, Melanoma, Non-Hodgkin Lymphoma, Pancreatic Cancer, Prostate Cancer, Thyroid Cancer), By End-use (Hospitals, Diagnostic Laboratories, Diagnostic Imaging Centers, Cancer Research Institutes), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Russia, Japan, China, India, Australia, Mexico, Brazil, Argentina, South Africa, UAE, Saudi Arabia), Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026” in detail along with the table of contents:


https://www.gminsights.com/industry-analysis/cancer-diagnostics-market


About Global Market Insights:


Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.


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