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New report shares details about the Global cancer diagnostics market to grow at a CAGR of 11.7% by 2024

New report shares details about the Global cancer diagnostics market to grow at a CAGR of 11.7% by 2024

Global Cancer Diagnostics Market By Technology (ELISA, ELFA, PCR, NGS, Immunohistochemistry, Microarray, Imaging (MRI, CT, PET, Ultrasound, Mammography), Biopsy), By Application (Breast Cancer, Lung Cancer, Colorectal Cancer, Melonoma), By Geography (North America, Europe, Asia-Pacific, Latin America, Rest of the World) – Trends and Forecast to 2024

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Global Cancer Diagnostics Market is expected to reach USD 40.10 billion by 2024 from USD 16.55 billion in 2016, at a CAGR of 11.7% in the forecast period 2017 to 2024. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

Cancer diagnostics market has the largest market segment in drug delivery market.

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The global cancer diagnostics market is highly concentrated to a few big players and rest to local players who cater to domestic markets only.

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Thermo Fisher Scientific, Inc. dominated the cancer diagnostics market, by platform based accounting for the highest market share in 2016, followed by Illumina, Inc. and Roche Diagnostics. GE Healthcare dominated the cancer diagnostics market, by imaging accounting for the highest market share in 2016, followed by Siemens Healthcare GmbH and Hologic, Inc.

Other players in this market include Agilent Technologies, Abbott, Becton, Dickinson and Company, and Koninklijke Philips N.V., among others holds 24.7% of the global cancer diagnostics market in 2016.

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Thermo Fisher Scientific, Inc,:

Founded in 2006 as Thermo Fisher Scientific, Inc, and head quartered in Massachusetts, U.S. is focused on developing, manufacturing and sales of medical supplies, devices, laboratory equipment and diagnostic products.

The company operates through four business segments: laboratory products and services, life sciences and solutions, analytical instruments and specialty diagnostic.

Recent developments:

  • In June 2017, Thermo Fisher Scientific Inc. established a partnership with the Institute Of Medical Genetics and Pathology at University Hospital Basel.
  • In March 2017, Thermo Fisher Scientific Inc. introduced the QuantStudio 5 Real-Time PCR System, designed to use with HID real time PCR analysis that optimises the use by reducing the cost and increasing efficiency.

Illumina, Inc.:

Founded in 1998 and headquartered in San Diego, USA. Illumina, inc. is engaged in the development, manufacturing and market integration for analysis of genetic variation and biological function.

The company operates through three business segments, namely research, applied science and clinical. The research segment includes the Molecular Biological research tool, Applied Genomics Solutions, Oncology, Microbial Genomics and Genomics in Drug Development.

The Applied Science segment of company offers Forensic Genomics, Commercial Agricultural Applications, Molecular Epidemiology and Biobank Analysis Solution. The clinical segment includes Molecular Diagnostics, Reproductive and Genetic Health, Translational Research and others.

Recent Developments:

  • In June 2017, Illumina Inc. announced the FDA approval of Extended RAS Panel for the evaluation of colorectal cancer from the American Cancer Society for Clinical Pathology (ASCP).
  • In April 2017, Illumina Inc. reported the launch of the VeriSeq NIPT solution, based on CE-IVD marked next-generation sequencing (NGS) approach for the non invasive pre-natal testing (NIPT), also including CE-IVD marked library prep and analysis software.

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GE Healthcare:

Founded in 1994 and headquartered in Chicago, U.S. GE Healthcare provides transformational medical technologies and services.

GE healthcare operates through three business segments healthcare systems, life sciences, and healthcare digital.

Recent Developments:

  • In March 2017, GE Healthcare introduced its latest product positron emission tomography/ computed tomography IQ PET/CT in Egypt for early detection of cancer and track patient’s responses to cancer treatment.
  • In March 2017, GE Healthcare launched Clariscan (gadoteric acid) at the European Congress of Radiology (ECR) meeting in Europe to detect abnormalities in the brain, spine and associated tissues.

Simens Healthcare GmbH:

Founded in 1847 and headquartered in Erlangen, Germany. Siemens Healthcare GmbH is engaged in medical technologies.

The company operates through different business segments, such as medical imaging, laboratory diagnostic, point of care testing, healthcare IT services, and clinical specialities & diseases. The clinical specialties & diseases segment includes cardiology, neurology, oncology, surgery, women health and others.

In oncology, Siemens Healthcare GmbH provides Imaging, Laboratory Diagnostics, Virtual MR/Ultrasound Guidance for TRUS Assisted Prostate Biopsy and others.

Recent Developments:

  • In May 2016, Siemens Healthcare GmbH acquired NEO New Oncology AG. With this acquisition Siemens Healthcare will expand its portfolio with molecular testing related services and technologies for oncology and genomics

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