Cancer ranks among the leading causes of mortality worldwide, with higher prevalence observed in both developed and developing markets. The continuous advancements in diagnostic testing technologies are expected to drive the growth of the industry. Healthcare professionals are increasingly prioritizing the development of efficient screening and treatment methods to combat the rising prevalence of cancer. As a result, numerous healthcare agencies and market participants are introducing various programs that promote advanced diagnostics, thereby contributing to the acceleration of market growth.
Data Bridge Market Research analyses the Non-Invasive Cancer Diagnostics Market growth rate in 2023-2030. The expected CAGR of the non-invasive cancer diagnostics market is around 7.20% in the mentioned forecast period. The market was valued at USD 140 billion in 2022 and would grow to USD 244.17 billion by 2030.
“Growing number of technological advancements is bolstering the market growth”
The market is expected to experience growth during the forecast period, driven by advancements in diagnostic testing technologies. An example of this is Hologic, Inc.'s recent announcement in 2021 regarding the availability of the Genius Digital Diagnostics System in Europe. This advanced system utilizes deep learning-based artificial intelligence and innovative volumetric imaging technology to improve the detection of cervical cancer cells and pre-cancerous lesions in women. The introduction of this next-generation cervical cancer screening system is anticipated to significantly contribute to the market's expansion.
What restraints the growth of the Global Non-Invasive Cancer Diagnostics Market?
“High costs associated will restrain the market growth"
The high costs and budget limitations faced by numerous hospitals in underdeveloped and developing countries make it challenging for them to invest in diagnostic imaging equipment. However, as the demand for diagnostic imaging rises in these regions, hospitals that are unable to afford new and advanced imaging systems turn to refurbished alternatives. This aspect acts as a constraint on the market's growth.
Segmentation: Global Non-Invasive Cancer Diagnostics Market
The non-invasive cancer diagnostics market is segmented based on type, product type, test type, application and end users.
- On the basis of type, the market is segmented into lung cancer, breast cancer, solid tumors, blood cancer, ovarian cancer, colorectal cancer, other.
- On the basis of product type, the market is segmented into immunochemistry, clinical microbiology, point of care test (POCT), hematology, hemostasis.
- On the basis of test type, the market is segmented into urine test, imaging test, spectroscopy.
- On the basis of application, the market is segmented into blood, urine, saliva.
- Based on end user, the market is segmented into hospital and clinics, diagnostic centers, ambulatory care, others.
Regional Insights: North America dominates the global non-invasive cancer diagnostics market
The dominance of North America in the market is attributed to the rising number of biotechnology and medical device companies, along with increased funding for research and development initiatives. Additionally, the region's high adoption of advanced technologies contributes to the growth of the market.
- On the other hand, the Asia-Pacific region is expected to experience significant market growth. This growth can be attributed to the increasing incidence of cancer patients and the growing awareness regarding minimally invasive diagnostic equipment in the region. Furthermore, the implementation of government initiatives aimed at improving healthcare diagnosis and adopting better technology plays a crucial role in driving market growth in the region.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-noninvasive-cancer-diagnostics-market
The Prominent Key Players Operating in the Global Non-Invasive Cancer Diagnostics Market Include:
- Abbott (U.S.)
- Thermo Fisher Scientific, Inc. (U.S.)
- Illumina, Inc. (U.S.)
- QIAGEN (Germany)
- F. Hoffmann-La Roche Ltd (Switzerland)
- Agilent Technologies, Inc. (U.S.)
- Quest Diagnostics Incorporated. (U.S.)
- Merck KGaA, (Germany)
- Hologic, Inc. (U.S.)
- BD. (U.S.)
- GSK plc. (U.K.)
- Novartis AG (Switzerland)
- Bristol-Myers Squibb Company (U.S.)
- Lilly. (U.S.)
- Pfizer, Inc. (U.S.)
- Myriad Genetics, Inc. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global non-invasive cancer diagnostics market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Non-Invasive Cancer Diagnostics Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
