Market Analysis - Cancer Science 2020
Cancer is a disease characterized by the abandoned growth and spread of abnormal cells. If the growth of abnormal cells is not controlled, it can result in death. In Worldwide, one in seven deaths is due to cancer. cancer causes more deaths than AIDS, tuberculosis, and malaria. According to income when countries are grouped, cancer is the second leading cause of death in high-income countries (following cardiovascular diseases) and the third leading cause of death in low- and middle-income countries (following cardiovascular diseases and infectious and parasitic diseases).
Cancer Diagnostics Market:
The global market size of cancer diagnostics is expected to reach $22.7 billion from $7.1 billion in 2015. Growing prevalence of oncologic cases, constant technological innovations in diagnostics, and increasing requirement for effective screening tests are some of the main factors prompting the demand for screening tools across the world.
Rising awareness and supportive government enterprises are some other factors that are anticipated to increase the growth of the sector during the forecast period. The global cancer diagnostics market is fragmented based on technology, application, and region. Increase in aging population and cancer cases are likely to create huge opportunity for cancer diagnostics.
Cancer Diagnostic Market, By Technology
On the basis of technology, the cancer diagnostics market is divided into instrument-based and platform-based. In 2015, the instrument-based segment is predicted to account for a major share of the cancer diagnostics market, by product.
1) Platform Based:
- In situ Hybridization
- Flow Cytometry
- Next-generation Sequencing
2) Instrument Based:
Cancer Diagnostic Market, By Application
Based on the application, the diagnostics market is fragmented into breast cancer, lung cancer, colorectal cancer, melanoma, Leukemia and others. Breast cancer application is expected to account for a major portion of the cancer diagnostics market.
Cancer Diagnostic Market, By Region
Based on region, the cancer diagnostics market is classified into North America, Europe, Asia, and Rest of the World. Rest of the World includes Latin America, Pacific countries, and Middle East and Africa. North America is predicted as the largest share in the cancer diagnostics market, followed by Europe and Asia.