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Cancer Diagnostic Market Eyeing for Substantial Growth at 11.8% CAGR | Industry Growth and Forecast Report by 2023

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A Broad Analysis of the “Global Cancer Diagnostic Market Research Report- Forecast To 2023“ methodology of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain a deeper insight of the industry performance.

— Cancer Diagnostic Market - Highlights

The Cancer Diagnostic Market is exhibited to grow at a noteworthy 11.85% CAGR over the assessment period (2017-2023). In recent times, cancer is a highly emerging disease globally and the number one cause for deaths.

Cancer is the growth of the tumor cells in any part of the body that is uncontrolled and can spread to the remaining parts. There are above 200 types of cancer of which lung, melanoma, ovarian, pancreatic, colorectal, kidney, blood, liver, breast and cervical cancer are the most common. Cancer diagnosis during an early stage will help in curing the disease thereby limiting its severity.

Independent and collaborative initiatives led by the companies and the governments are striving in raising cognizance regarding the advantages of early diagnosis of cancer. The substance that leads to cancer is known as carcinogen and the common causes of cancer include genetic or viral factors, environmental agents or molecules present in tobacco smoke.

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There are many factors that is driving the growth of the cancer diagnostic market. Some of these factors as per the Market Research Future (MRFR) report include increasing prevalence of oncologic cases, increasing need for effective screening tests, constant advancements in diagnostics, rising awareness, supportive government initiatives, increasing use of tobacco, unhealthy diet, no physical activity, increasing exposure to UV rays, rising incidence of sexually transmitted HPV-infection and urban air pollution.

On the contrary, factors such as poor reimbursement policies and accessibility of expensive treatment may hinder the growth of the cancer diagnostic market over the assessment period.

Leading Key Players

Leading players profiled in the cancer diagnostic market include C.R. Bard, Inc. (the U.S.), Philips Healthcare (the U.K.), Siemens Healthcare (Germany), Roche Diagnostics (Switzerland), Abbott Laboratories, Inc. (the U.S.), QIAGEN N.V. (Netherlands), GE Healthcare (the U.K), Dickinson and Company (the U.S.), Becton, Illumina, Inc. (Denmark), Thermo Fisher Scientific, Inc. (the U.S.), Agilent Technologies, Inc. (the U.S.), Cancer Diagnostics, Inc. (the U.S.), Biotheranostics, Inc. (the U.S.), BioMark Diagnostics Inc. (Canada), Arquer Diagnostics Ltd (the U.K), Armune BioScience, Inc. (the U.S.), and others.

Jan 2019- A breathalyser test which can help in revolutionizing cancer diagnosis will be trialed in Britain. Known as the Breath Biopsy Device, it has been specially designed for detecting cancer hallmarks in the molecules that the patients exhale.

Cancer Diagnostic Market - Segmentation

Market Research Future report offers an all-inclusive segmental analysis of the cancer diagnostic market on the basis of type, application and end user.

Based on type, it is segmented into tumor cancer diagnostics, imaging procedure, endoscopy based, biopsy based and others. Of these, the imaging procedure will have the largest market share over the assessment period.

Based on application, the cancer diagnostic market is segmented into pancreatic cancer, liver cancer, kidney cancer, blood cancer, skin cancer, prostate cancer, cervical cancer, colorectal cancer, breast cancer, lung cancer and others. Of these, breast cancer will have the maximum share in the market.

Based on end-user, it is segmented into research institutes, hospital, clinic, diagnostic center and others. Of these, hospital will have a robust growth over the assessment period.

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Detailed Regional Analysis

Based on region, the cancer diagnostic market covers growth opportunities and latest trends across North America, Asia Pacific, Europe and Middle East and Africa. Of these, North America will command a major share due to increasing prevalence of people suffering from cancer, increasing use of advanced technology to improve both the diagnostics as well as treatment solutions in developed healthcare infrastructure and rising expenditure on healthcare and extensive research activities.

Europe grabs the second largest share in the cancer diagnostic market owing to rising awareness about advanced diagnostics procedures, increasing cases of cancer, more initiatives taken by the government for supporting cancer patients and favorable reimbursement policies.

In the APAC region the cancer diagnostic market will have a promising growth over the assessment period. On the other hand, the cancer diagnostic market in the Middle East and Africa will have a steady growth owing to low penetration of latest diagnostics solution and lack of awareness.

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Source URL: https://marketersmedia.com/cancer-diagnostic-market-eyeing-for-substantial-growth-at-118-cagr-industry-growth-and-forecast-report-by-2023/493233

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Release ID: 493233

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