Cancer diagnostics market is in its evolutionary phase. The market is subject to witness several innovations in diagnostic care that directly or indirectly affect the variable factors under it. One such innovative approach is “liquid biopsy”. The purpose of liquid biopsy is to examine cancer specific molecules discharging into the bloodstream.
By the end of 2017, a research team funded by NIH demonstrated favorable results through liquid biopsy programme termed as CancerSEEK. CancerSEEK was capable in finding different kinds of cancer such as ovarian, pancreatic and liver that lack early screening tests. The demonstration was conducted over 1000 people with more than five early stage cancer tumor types. CancerSEEK discovered the cancerous cells in a short frame of time with maximum gain. It was then concluded that the tests can be made commercially available under cheaper costs.
According to the latest report on Cancer Diagnostics Market published at Upmarketresearch, the market is highly driven by deployment of advanced technology in medical domain and rising prevalence of oncology diagnosis. Change in consumer lifestyle, rise in prevalence of cancer and availability of diagnostic and treatment solutions is likely to spur the market growth in near future.
Laboratory tests, genetic tests, endoscopy and imaging come under test category for cancer diagnostics market. Laboratory tests and endoscopy account for a greater market share in the global scenario as there is a constant demand for these tests. Application segment for cancer diagnostics market include cervical, skin, liver, lung and breast. Cervical and liver segments lead the market owing to rise in chronic cancer.
North America dominates the cancer diagnostics market holding a larger market share. Other reasons such as existence of medicine manufacturers, biotechnology and availability of medical devices is one of prime reasons for market growth in this region. Segmental growth in the U.S. is likely to stimulate the diagnostics market developments in the near future.
Asia-Pacific market witness a strong a market position in the estimated period. Factors such as availability of medical workforce, conducive environment for boom in medical sector and availability of medicines at a comparative price coupled with a strong regulatory framework leverages the market growth. In addition, increase in medical tourism in Asia-Pacific regions boost the APAC market growth in the near future.
Prominent players in the cancer diagnostics market include Abbott Qiagen, F.Hoffman-La Roche Ltd, Siemens Healthcare, GE Healthcare, Hologic Inc, Koninklijke Philips N.V., Thermo Fisher and Agilent Technologies Inc.