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Research delivers insight into the Global cancer diagnostics market expected to reach USD 40.10 billion by 2024

Research delivers insight into the Global cancer diagnostics market expected to reach USD 40.10 billion 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.

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The major factors driving the growth of this market are the growing aging population worldwide, government initiatives for funding, and awareness about cancer. These factors increase the demand for cancer diagnostic products.

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On the other hand, stringent regulations imposed by international and local authorities and shortage of skilled and trained professionals may hinder the growth of the market.

The global cancer diagnostics market is segmented on the basis of technology, application, and geography.

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The global cancer diagnostics market is segmented into two types, platform based and instrument based. In 2017, the cancer diagnostics instrument based segment is expected to dominate the market with a share of 68.8% and is expected to continue this trend till 2024.

ancer diagnostics platform based market is segmented into polymerase chain reaction (PCR), in situ hybridization (ISH), immunohistochemistry (IHC), next generation sequencing (NGS), DNA microarrays, flow cytometry and others. Cancer Diagnostics instrument based market is segmented into imaging and biopsy.

Imaging is further segmented into magnetic resonance imaging (MRI), computed tomography (CT), positron emission tomography- computed tomography (PET-CT), mammography, and ultrasound.

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On the basis of application, the market is segmented into lung cancer, breast cancer, colorectal cancer, melanoma and others.

On the basis of geography, cancer diagnostics market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.

In 2017, North America is expected to dominate the market.

The Global Cancer Diagnostics Market Report contains an in-depth profiling of the key market players, along with the recent developments (new product launches, partnerships, agreements, collaborations, and joint ventures) and strategies adopted by them to sustain and strengthen their positions in the market.

Some of the major players operating in this market are Agilent Technologies, Abbott, Thermo Fisher Scientific, Becton, Dickinson and Company, GE Healthcare, QIAGEN, Illumina, Inc., F. Hoffmann-La Roche Ltd., Siemens Healthcare GmbH, and Koninklijke Philips N.V., among others.

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