North America Melanoma Cancer Diagnostics Market – Industry Trends and Forecast to 2030

North America Melanoma Cancer Diagnostics Market Analysis and Insights 

The increased demand for non-invasive testing methods globally has enhanced the market's demand. The rising healthcare expenditure for better health services is also contributing to the growth of the market. The major market players are highly focusing on various faster diagnostics during this crucial period. In addition, government initiatives for melanoma cancer diagnostics are also contributing to the rising demand for the melanoma cancer diagnostics market.

The increasing healthcare expenditure strategic initiatives by market players are giving opportunities to the market. However, the lack of skilled and certified professionals and the high cost of diagnostics procedures for melanoma cancers in emerging economies are key challenges to market growth.

North America melanoma cancer diagnostics market is expected to gain market growth in the forecast period of 2023 to 2030. Data Bridge Market Research analyses that the market is growing with a CAGR of 7.4% in the forecast period of 2023 to 2030 and is expected to reach USD 3,466.02 million by 2030 from USD 1,964.80 million in 2022.

Market Definition

Melanoma cancer diagnostics are known as the process of identifying melanoma cancer by studying skin cells and molecules. These melanoma cancer diagnostics are used as a strategy to research, analyse and diagnose certain cells or molecules with the help of various tests performed in the laboratory. It is specially used for the measurement of a specific biomarker or identifying the biomarker in the skin cells. A melanoma cancer diagnosis is used with the aim of providing more efficient testing and faster diagnostics.

Melanoma cancer diagnostics help doctors find out the cancer stages to effectively treat patients at various stages. Furthermore, with the potential for clinical practice, several tests are used to give additional support to boost efficiency in melanoma cancer diagnosis, and the presence of major market players also contributes to the market growth.

North America Melanoma Cancer Diagnostics Market Dynamics

Drivers

• Rising demand for early melanoma cancer diagnosis

A potentially fatal cancer, melanomas are most frequently found on the skin. The melanoma incidence has increased significantly on a North America scale. The incidence is highest among populations with fair skin and at lower latitudes. It is one of the cancers with the highest average number of years lost to disease per death. Melanoma is a severe personal and economic burden due to increased incidence and mortality. Various high-risk areas have employed preventative measures with varying degrees of success. The genesis of disease and risk factors must be better understood through research initiatives.

• Rising preference for preventive health check-ups

Preventive health check-ups are preventive actions performed for the initial detection of melanoma cancer disease. Also, a rising preference for preventive health check-ups provides a safeguard against likely exposure to any disease in the future.

Awareness to promote screening is the most important component of melanoma cancer prevention. The check-up is comprised of the identification of cancer and examinations of risk factors to limit loss at an early stage.

Opportunities

• Increasing healthcare expenditure for melanoma cancer treatment

Growing healthcare infrastructure is an opportunity for the market because if investment in healthcare increases, more people are getting aware of cancer disease and diagnose their health for precaution and cure.

Increasing healthcare expenditure for cancer treatment also helps the patient to take hassle-free advanced treatment for taking better diagnosis and treatment for fast recovery. The spending on health is made up of the combination of out-of-pocket payments (people paying for their own care), government expenditure, and sources, including health insurance and activities by non-governmental organizations. Due to this, increasing healthcare expenditure for cancer treatment is acting as an opportunity for growing the demand of the market.

• Strategic initiatives by major players

Increasing rates of various types of disease and their severity are widely seen among people globally. The dramatic rise in research quality and increasing research opportunities is because of various strategic initiatives the market players take. They are taking initiatives such as product launch, collaborations, mergers, acquisitions, and many more over the years and is expected to lead and create more opportunities in the market. For instance, Evonik invested in the short-term growth of its specialty melanoma cancer diagnostics production at its Hanau and Dossenheim locations in Germany, which supplied two of the four melanoma cancer diagnostics for the Pfizer/BioNTech vaccine. According to Spencer, the first batches were delivered to BioNTech in April 2021, months ahead of schedule.

Restraints/Challenges

• Strict regulations and standards for the approval and commercialization of melanoma cancer diagnostic products

The stringent regulations for the commercialization of any product in the market are proving to be a big challenge for the manufacturers of cancer diagnostic products globally that have their own regulations and a different body for the regulatory procedures.

Manufacturers' approval for commercializing product commercializing into the market. Due to this, in the North America region, stringent regulatory policies are expected to hinder the development of the cancer diagnostic market.

The regulatory requirement for approvals of marketing or CE certification and application of laws and regulations could lead to making major changes in business or paying penalties, including the potential loss of business licenses. The resources and costs required to comply with these laws, rules, and regulations are quite high. Different manufacturing challenges for lipid nanoparticle production

Post-COVID-19 Impact on the North America Melanoma Cancer Diagnostics Market

COVID-19 has positively affected the market. As the demand for diagnostics increased, preventive health check-ups were in high demand. Thus COVID-19 affected the melanoma cancer diagnostics market positively.

Recent Development

• In October 2022, Quest Diagnostics Incorporated announced that the company has collaborated with Decode health to get biomarker-based data that can help reduce the time and cost of developing novel diagnostic tests and drug targets for different types of cancer. This will help the company to find innovative paths in the field of R&D and increases the North America presence of the company in the market
• In May 2022, Myriad Genetics, Inc. announced the expansion of its strategic partnership with Intermountain Precision Genomics, a service of Intermountain Healthcare, to add a new liquid biopsy therapy selection test to the company's growing oncology portfolio. This results in growing liquid biopsy space for the precise tumor test

North America Melanoma Cancer Diagnostics Market Scope

The North America melanoma cancer diagnostics market is segmented into product type, test type, end user, and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.

Product Type

• Instruments
• Consumables & Accessories
• Others

On the basis of type, the North America melanoma cancer diagnostics market is segmented into instruments, consumables & accessories, and others.

Test Type

• Biopsy
• Imaging test
• Immunohistochemical (IHC) tests
• Biomarkers test
• Fluorescent In Situ Hybridization (FISH) tests
• Comparative Genomic Hybridization (CGH) tests
• Others

Based on test type, the North America melanoma cancer diagnostics market is segmented into biomarkers test, imaging test, biopsy, Fluorescent In Situ Hybridization (FISH) tests, Comparative Genomic Hybridization (CGH) tests, Immunohistochemical (IHC) tests, and others.

End User

• Hospitals
• Associated labs
• Independent diagnostic laboratories
• Diagnostic imaging centers
• Cancer research institutes
• Others

Based on end user, the North America melanoma cancer diagnostics market is segmented into hospitals, associated labs, independent diagnostic laboratories, diagnostic imaging centers, cancer research institutes, and others.

Distribution Channel

• Direct Tender
• Retail Sales
• Others

Based on the distribution channel, the North America melanoma cancer diagnostics market is segmented into direct tender, retail sales, and others.

Melanoma Cancer Diagnostics Market Regional Analysis/Insights    

The North America melanoma cancer market is analysed, and market size insights and trends are provided by product type, test type, end user, and distribution channel.

North America melanoma cancer market comprise of the countries the U.S., Canada, and Mexico.

The U.S. is expected to dominate the North America melanoma cancer diagnostics market due to growing demand for quality healthcare and rising demand for non-invasive testing methods.

The country section of the report also provides individual market-impacting factors and changes in regulations in the market that impact the current and future trends of the market. Data points, such as new and replacement sales, country demographics, disease epidemiology, and import-export tariffs, are some of the major pointers used to forecast the market scenario for individual countries. In addition, the presence and availability of North America brands and their challenges faced due to high competition from local and domestic brands and the impact of sales channels are considered while providing forecast analysis of the country data.

Competitive Landscape and Melanoma Cancer Diagnostics Market Share Analysis

The North America melanoma cancer diagnostics market competitive landscape provides details by the competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, North America presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus on the North America melanoma cancer diagnostics market.

Some of the major players operating in the North America melanoma cancer diagnostics market are Nanostring, Thermo Fisher Scientific Inc., Quest Diagnostics Incorporated, Agilent Technologies, Inc, QIAGEN, Inivata Ltd, F. Hoffman-La Roche Ltd, Abbott, AMLo Biosciences Limited, Myriad genetics Genetics Inc, Castle Biosciences, DermTech, Michael Diagnostics Ltd, Damae Medical, Skin Analytics, DermLite, DermaSensor, Skyline Dx, Neracare GmbH, VERISKIN INC., Illumina Inc, and bioMerieux SA, among others.

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