-- Summary
The global market for oncology diagnostics was valued at REDACTED in 2020. The market is expected to grow at a compound annual growth rate (CAGR) of REDACTED, to reach REDACTED by 2025. The global market is growing due to the increasing prevalence of cancer, a rise in the world’s elder population, rising awareness and growing technological advancements in various fields: biomarkers, imaging, biopsy and endoscopy. Advances in science and technology platforms are expected to progress faster in oncology than in other disease areas, due to terminal disease prevalence and the corresponding rise in patient risk tolerance.
According to the WHO, cancer is the second leading cause of death, globally, accounting for around one in six deaths in 2018. Prostate, colorectal, stomach, lung and liver cancer are the most common types of cancer in men, while colorectal, breast, lung, cervical and thyroid cancer are the most common among women.
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The cancer burden continues to rise, globally, exerting tremendous emotional, physical and financial strain on families, individuals, communities and health systems. Many health systems in low and middle - income countries are not prepared to manage this burden. Large numbers of cancer patients, worldwide, do not have access to timely quality treatment and diagnosis. In countries where health systems are robust, survival rates of many types of cancers are improving due to accessible early detection, quality treatment and survivorship care.
Delayed cancer treatment can result in a considerable decrease in survival. The oncology diagnostics market is booming and very competitive, with many big and small players operating in different market segments. A strong need for new diagnostic tools exists to allow earlier detection with higher specificity and higher sensitivity. New startups are founded every year with the aim of developing the next big diagnostic technology.
Healthcare facilities have adopted stricter safety practices to reduce the risk of exposing people to COVID-19. At the start of the coronavirus pandemic, elective medical procedures, including cancer diagnosis, were primarily put on hold to prioritize urgent needs and reduce the risk of the virus spread in healthcare settings. One result of this has been a substantial decline in cancer diagnosis and screening.
Many cancer diagnosis and treatment plans have been changed so that people do not have to spend as much time at these facilities. Many medical appointments are being spread out to avoid close contact between people. More appointments are being made over the phone or online and hospital stays after surgery have been shortened. In some cases, fewer in-person visits are required to complete chemotherapy or radiation therapy.
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Report Scope
This report examines the current and forecasted market potential for oncology diagnostics. It offers a detailed analysis of the market background, competitive environment, technological advancement, drivers and restraints and market growth trends. This report includes market projections through 2025, detailing the market share for oncology diagnostics based on the product, application and end user.
By product, the oncology diagnostics market is segmented into diagnostic imaging, endoscopy, biopsy, immunohistochemistry, in situ hybridization, tumor biomarkers tests and others. By application, the oncology diagnostics market is segmented into breast cancer, lung cancer, colorectal cancer, prostate cancer, liver cancer and others. By end user, the oncology diagnostics market is segmented into hospitals, diagnostic imaging centers, research institutes and others.
By geography, the oncology diagnostics market has been segmented into Europe, North America, Asia Pacific (APAC) and the Rest of the World (RoW). The detailed analyses of major countries like the U.S., Germany, Canada, the UK, Spain, Italy, France, Japan, India and China are regional segments. For market estimates, data is provided for 2019 as the base year, 2020 and forecast through year-end 2025. Estimated values used are based on oncology diagnostic product manufacturers’ total revenues. Projected and forecast revenue values are in constant U.S. dollars that have not been adjusted for inflation.
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Report Includes
- 32 data tables and 19 additional tables
- An overview of the global markets for oncology diagnostics
- Estimation of the market size and analyses of market trends, with data from 2019 to 2020 and projection of CAGR through 2025
- Market share analysis of oncology diagnostics by application, product, end-user and region, and evaluation of market size and forecast, and detailed analysis of drivers, challenges and opportunities affecting market growth
- Highlights of the current and future market potential of oncology diagnostics and a detailed analysis of the regulatory landscape, complications and prevalence of cancer
- Details of major advances in technologies and products, ongoing activities and pipeline analysis of new products in the oncology diagnostics industry
- Details about symptoms, progression and epidemiology of COVID-19 and discussion on impact of COVID-19 pandemic on medical industry as well as on oncology diagnostics market
- Market share analysis of the key companies of the industry and coverage of events like mergers & acquisitions, joint ventures, collaborations or partnerships, and other key market strategies
- Comprehensive company profiles of major players of the industry, including Abbott, Agilent, bioMérieux, General Electric Co., Roche, Siemens and Thermo Fisher Scientific
Companies Mentioned:
ABBOTT
AGILENT TECHNOLOGIES INC.
BIOCARTIS NV
BIOMERIEUX SA
DIASORIN S.P.A.
F. Hoffmann-La Roche AG
GENERAL ELECTRIC CO.
KONINKLIJKE PHILIPS N.V.
SIEMENS HEALTHCARE GMBH
THERMO FISHER SCIENTIFIC
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