Cancer Testing Market Gaining Traction from Increasing Cancer Cases

The global cancer testing market size coupled with cancer screening market was worth $133 billion as of 2018, and the demand is projected to grow at a CAGR of 5.5% during the forecast period 2019 to 2025.

Cancer Testing and Cancer Screening Market: Demand Analysis and Growth Forecast

As cancer remains the leading cause of death worldwide, and rapid increase in overall cancer-related deaths among people are demanding for the early cancer detection methods in order to identify cancer in early stages. Cancer screening is one of the best methods in order to detect cancer in the earlier stage and lower the cancer cases and deaths of the people. Universal screening plays a key role to lower prevalence cancer in a cost-effective manner. The biological and epidemics, efficiency, and potential impact of screening are directly related to cancer prevalence, these factors will increase the demand in the cancer screening market. This report covers Cancer Testing Market Size by Type and Technique, Cancer Testing market share by top 5 companies and also the market share by start-ups during the forecast period

According to a recent business intelligence report by IndustryARC, the global cancer testing market size coupled with cancer screening market was worth $133 billion as of 2018, and the demand is projected to grow at a compound annual growth rate (CAGR) of 5.5% during the forecast period 2019 to 2025. The report is titled, “Cancer Testing/Screening Market: By Cancer Type (Lung, Blood, Bone, Others); By Technique (Imaging, Endoscopy, Molecular & Genomics Testing); By Stage (TNM, Prognostic Factors, Others); By Gender; By Geography – Forecast (2019-2025).”

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Cancer screening tests are important to reduce disparities in cancer mortality and morbidity in public health. Several deaths are caused mainly by breast, lung, and cervical cancers in order to reduce these deaths cancer screenings such as colorectal cancer screening, cervical cancer screening, and breast cancer screening are increasing in the market. The government initiatives towards cancer prevention and growing awareness among the people about health are driving the growth of the cancer screening market.

Cancer Testing Market: Leading Segments

According to the American Cancer Society, the total number of new cancer cases and deaths in 2018 are assessed to be 1,735,350 cancer cases and 609,640 cancer deaths in the United States. Moreover, 14,070 ovarian cancer deaths were accounted in the U.S, this cancer accounts for 2.5% of the female cancer cases worldwide in 2018. Deaths by this cancer are more around 5% as it leads to low survival. In 2018 American Society of Clinical Oncology (ASCO) broadened its State of Cancer Care in America in order to provide multidisciplinary solutions to improve clinical trials in rural cancer care. Mainly Americans in rural areas cancers such as lung, cervical, colorectal, and prostate are higher in rates than urban areas. The increasing population of cancers in America made ASCO safeguard new therapies for every individual with cancer. The aforementioned cancer deaths and cases as well as clinical trials for rural cancer care will increase the demand for the cancer screening market in this region. Based on the geographical analysis, America held a major share of 50% to 55% in cancer testing market as of 2018. The American Cancer Society (ASC) recommends for cancer screening in order to detect cancer cases certain earlier. In 2018, breast cancer killed more than 40,000 Americans per year. This increase in such cancer population will demand for more targeted therapies and cancer screening methods based on the recommended guidelines of age by ASC.

Cancer Screening Market Trends

3D radiology services such as 3D breast tomosynthesis are the latest advancement in cancer screening technologies. This advancement will enable to capture images of the breast tissue in several layers, which will provide many opportunities to identify cancer tissue obscured by other tissue. This technology enables to detect 41% more invasive cancers.
The new 3D imaging technology enables high resolution 3D images in order to hasten screening and analysis, which is designed to identify cancer in early stages by fine calcifications and subtle lesions.
OneTEST is the latest innovative method for the multi-cancer blood test, this test identifies cancer risk using tumor antigen markers. This test is available for many cancers such as lung, liver, colon, cervical, and prostate to picture their own cancer risks.

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Cancer Testing Market: Competitive Landscape

Some of the major players operating in cancer testing/screening market are Dias Orin S.P.A, Epigenetics Ag, Techlab, Genextropy Inc., M Genomics Ltd, 20/20 GeneSystems, Inc., AB SCIEX, Abbott Laboratories, Abcodia Ltd., and Abingdon Health Ltd.

Related Reports
A. Cancer Biomarkers Market

B. Cancer Diagnostics Market

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