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Cancer Diagnostics Global market Report 2024 – Market Size, Trends, And Forecast 2024-2033
Cancer Diagnostics Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
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LONDON, GREATER LONDON, UK, September 2, 2024 /EINPresswire / -- The cancer diagnostics market has experienced robust growth in recent years, expanding from $21.38 billion in 2023 to $23.84 billion in 2024 at a compound annual growth rate (CAGR) of 11.5%. The growth in the historic period can be attributed to increasing cancer incidence, cancer screening programs, personalized medicine, and public awareness.
Strong Future Growth Anticipated
The cancer diagnostics market is projected to continue its strong growth, reaching $37.09 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%. The growth in the forecast period can be attributed to emerging markets growth, regulatory support, artificial intelligence (AI) and machine learning, early detection and intervention.
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Growth Driver Of The Cancer Diagnostics Market
The increasing incidences of lung cancer are expected to propel the growth of the cancer diagnostics device market going forward. Lung cancer refers to a type of cancer that originates in the tissues of the lungs, and abnormal cells within the lungs start growing uncontrollably, forming tumours and potentially spreading to other parts of the body. Cancer diagnostic devices are used in the detection, diagnosis, and monitoring of lung cancer to help healthcare professionals identify its presence, determine its type and stage, and guide treatment decisions.
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Major Players And Market Trends
Key players in the cancer diagnostics market include Abbott Laboratories, Becton Dickinson and Company, Hologic, GE Healthcare Ltd., Thermo Fisher Scientific, Siemens Healthcare GmbH.
Major companies operating in the cancer diagnostic device market are focusing on developing technology with artificial intelligence (AI), such as QAi Prostate, to gain a competitive edge in the market. QAi Prostate is used as a cancer diagnostic device for prostate cancer diagnosis.
Segments:
1) By Products: Companion Diagnostics, Molecular Diagnostics
2) By Method: Biopsy, Endoscopy, Tumor Biomarker Tests, Imaging
3) By Application: Cervical Cancer, Breast Cancer, Liver Cancer, Blood Cancer, Kidney Cancer, Colorectal Cancer, Pancreatic Cancer, Ovarian Cancer, Melanoma, Other Applications
4) By End-User: Cancer Research Institutes, Diagnostic Laboratories, Hospitals, Other End Users
Geographical Insights: North America Leading The Market
North America was the largest region in the cancer diagnostics market in 2023. Asia-Pacific was the second-largest region in the global cancer diagnostics market. The regions covered in the cancer diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Cancer Diagnostics Market Definition
Cancer diagnostic devices refer to medical equipment used to detect and diagnose the stage and cause of the condition by identifying the oncogenic proteins, and certain enzymes released by the tumor cells in patients.
Cancer Diagnostics Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Cancer Diagnostics Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on cancer diagnostics market size, cancer diagnostics market drivers and trends, cancer diagnostics market major players, cancer diagnostics competitors' revenues, cancer diagnostics market positioning, and cancer diagnostics market growth across geographies. The cancer diagnostics market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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