Cancer Diagnostics Market Report- Opportunities in Future with Different Segments

Growth Factors Driving the Market:  The Growth of the Cancer Diagnostics Market is driven mainly by increasing incidence of cancer and growth in the number of private diagnostic laboratories.

In an attempt to detect cancer in the early stages and bring down the mortality rate, governments in developed countries and primary care doctors are recommending cancer screening tests for patients. The US Preventive Services Task Force (USPSTF) recommends screening for colorectal cancer starting at 50 years of age to 75 years of age in the US as a means of preventing disease incidence and ensuring early-stage treatment. Canada has also implemented guidelines for biennial colorectal cancer screening for people aged 50 to 74 years.

MarketsandMarkets™ View on Revenue: The global cancer diagnostics market size was valued at USD 17.2 billion in 2021 and is expected to grow at a CAGR of 11.5%

Industry Segmentation in Detailed:

The consumables segment is expected to grow at the highest CAGR during the forecast period.

Based on the product, the cancer diagnostics market is segmented into consumables and instruments. The consumables segment is projected to witness the highest growth during the forecast period. The repeated purchase and high consumption, and the high prevalence of diseases the major factors supporting the growth of this segment.

The technology segment accounted for the largest share of the cancer diagnostics market.

By technology, the cancer diagnostics market is segmented IVD testing, imaging based and biopsy technique. The IVD testing segment accounted for the largest market share in 2020. The large share of this segment can be attributed to increasing incidence of cancer.

Hospitals for the largest share of the cancer diagnostics market.

Based on end-users, the cancer diagnostics market is segmented into hospitals and diagnostic laboratories. The hospitals segment accounted for the largest share of the cancer diagnostics market in 2020. The increasing number of patients visiting hospitals, rising number of in-house diagnostic procedures performed in hospitals, and growing awareness regarding early diagnosis is are the major driving factor for this market.

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Leading Key Players Analysis:

Some of the major players operating in this market are GE Healthcare (US), Roche Diagnostics (Switzerland), and Becton, Dickinson and Company (US). In 2020, GE Healthcare held the leading position in the market. The company has a strong geographic presence across the US, Asia, Europe, Middle East and Africa, & the Americas. Moreover, the company’s strong brand recognition and comprehensive product portfolio in the cancer diagnostics market is its key strength. BD held the second position in the cancer diagnostics market in 2020.

Geographical Trends in Detailed:

The cancer diagnostics market is segmented into four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World. In 2020, North America accounted for the largest share of the cancer diagnostics market. The large share of North America can be attributed to factors such as the increasing incidences of cancer, growing awareness early diagnosis and technological advancement.

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Global Lymphedema Diagnostics Market with Huge Growth Opportunities, Competitive Landscape, Industry Analysis, CAGR Status

According to the new market research report “Lymphedema Diagnostics Market by Technology (Lymphoscintigraphy, MRI, Near IR Fluorescence Imaging, Ultrasound), Disease Type (Cancer, Inflammatory Diseases, Cardiovascular, Filariasis), End User (Hospitals, Diagnostic Centers) – Global Forecast”, published by MarketsandMarkets™, is projected to reach USD 35 million by 2024 from USD 24 million in 2019, at a CAGR of 7.4%.

Report Objectives:

– To define, describe, and forecast the market on the basis of technology, disease type, end user, and region

– To provide detailed information regarding the major factors influencing the growth of this market (such as drivers, restraints, opportunities, and challenges)

– To strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the total market

– To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders

– To forecast the revenue of market segments with respect to four main regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World

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The increasing prevalence of lymphedema and cancer; technological advancements in diagnostic imaging modalities; and increasing investments, funds, and grants by public-private organizations are the major factors driving the growth of this market.

The lymphoscintigraphy segment accounted for the largest share of the market in 2018.

Based on technology, segmented into lymphoscintigraphy, magnetic resonance imaging (MRI), ultrasound imaging, computed tomography (CT), X-ray lymphography, bioimpedance analysis, and near-infrared fluorescence imaging. In 2018, the lymphoscintigraphy segment accounted for the largest share of the Lymphedema Diagnostics Market. The noninvasive nature and easy reproducibility of this technology, and the fact that lymphoscintigraphy does not adversely affect the lymphatic vascular endothelium are some of the key advantages supporting the adoption of this technology.

The cancer segment accounted for the largest share of the market in 2018.

On the basis of disease type, segmented into cancer, inflammatory diseases, cardiovascular disease, and other diseases (congenital abnormalities, trauma-related conditions, infections, and filariasis). The cancer segment accounted for the largest share of the Lymphedema Diagnostics Market in 2018. The large share of this segment can be attributed to the rising prevalence of cancer-associated lymphedema and increasing awareness about early disease diagnosis.

The hospitals segment accounted for the largest share of the market in 2018.

On the basis of end user, the Lymphedema Diagnostics Market is segmented into hospitals, diagnostic centers, research & academic institutes, and other end users (pharmaceutical & biotechnology companies and CROs). The hospitals segment accounted for the largest share of the market in 2018. The large share of this segment can be attributed to the large number of lymphedema diagnostic procedures performed in hospitals, the growing adoption of minimally invasive procedures, and the rising adoption of advanced imaging modalities to improve workflow efficiency in hospitals.

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North America to dominate the Lymphedema Diagnostics Market during the forecast period

The lymphedema diagnostics therapy market is segmented into four regional segments, namely, North America, Europe, the Asia Pacific, and the Rest of the World. The large share of North America can be attributed to factors such as the easy availability and rapid adoption of technologically advanced imaging systems; high incidence/prevalence of lymphedema; and the strong, well-established healthcare systems. The market in the Asia Pacific is expected to grow at the highest rate, followed by Europe.

The major players operating in the Lymphedema Diagnostics Market are GE Healthcare (US), Philips (Netherlands), and Siemens Healthineers (Germany). Other prominent players in this market include Canon, Inc. (Japan), Shimadzu Corporation (Japan), Stryker Corporation (US), Fluoptics (France), United Imaging Healthcare Co., Ltd. (China), Hitachi, Ltd. (Japan), Esaote, SpA (Italy), Neusoft Corporation (China), Mindray Medical International, Ltd. (China), Mitaka USA, Inc. (US), Curadel, LLC (US), and ImpediMed Ltd. (Australia).

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Worldwide Synthetic Stem Cells Market Size, Opportunities for Revenue Growth, and Future Forecast

The study involved four major activities in estimating the current market size for synthetic stem cells. Exhaustive secondary research was conducted to collect information on the market as well as its peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research.

Secondary Research:

In the secondary research process, various secondary sources such as Hoovers, Bloomberg Business Week, Forbes, and Dun & Bradstreet were referred to, to identify and collect information useful for this technical, market-oriented, and commercial study of the synthetic stem cells industry. These secondary sources included annual reports, press releases & investor presentations of companies; white papers; certified publications; articles by recognized authors; gold standard & silver standard websites; food safety organizations; regulatory bodies; trade directories; and databases. Secondary research was mainly used to obtain key information about the industry’s supply chain, the total pool of key players, market classification, and segmentation, according to the industry trends to the bottom-most level and regional markets.

According to the new market research report “Synthetic Stem Cells Market by Application (Cardiovascular Disease, Neurological Disorders, Other Applications (Cancer, Diabetes, Gastrointestinal, Musculoskeletal Disorders)), Region (North America (US, Canada), Europe, APAC, RoW) – Global Forecast to 2028″ published by MarketsandMarkets™, the artificial stem cells market is expected to grow from USD 14 million in 2023 to USD 37 million by 2028, at a CAGR of 22.5% during the forecast period

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Geographically; North America is estimated to account for the largest share of the market in 2023. North America is the pioneer of synthetic stem cell technology. Also, North America leads in the R&D of stem cell therapies globally, with the registration of the highest number of clinical trials (more than 1400) on stem cells till 2018. This is further backed by the high rate of adoption of advanced therapies in the US (more than 600 stem cell therapy clinics in the US in 2016).

The key developers of synthetic stem cell technology are North Carolina State University (NCSU) (US) and Zhengzhou University (China).

Market Size Estimation;

The top-down approach was used to estimate and validate the total size of the synthetic stem cells market. The approach was also used extensively to estimate the size of various sub-segments in the market. The research methodology used to estimate the market size includes the following:

– Synthetic stem cells that could be used as therapy were identified through secondary research, and their market shares in the respective segments were determined through primary and secondary research.

– The procedure included extensive interviews with industry leaders such as CEOs, VPs, directors, and marketing executives for key insights.

– All percentage shares, splits, and breakdowns were determined using secondary sources and are verified through primary sources.

– All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

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The cardiovascular diseases segment accounted for the largest share during the forecast period.

The major applications of synthetic stem cells include cardiovascular diseases, neurological disorders, and other diseases that require regenerative therapy. Cardiovascular diseases have high prevalence across the globe. Currently, synthetic mesenchymal cells have been developed only for cardiac tissue and have been tested in mice models. The research on cardiac synthetic stem cells is expected to enter the clinical phase in the coming 2-3 years, and the first commercial product would be cardiac synthetic stem cells in the next five years.