CANCER DIAGNOSTICS MARKET ANALYSIS (2020-2027) - PowerPoint PPT Presentation

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  • Cancer Diagnostics Market, By Test Type (Tumor
    Biomarkers Tests (PSA Tests, CTC Tests, AFP
    Tests, CA-19 Tests, HER2 Tests, BRCA Tests, ALK
    Tests, CEA Tests, EGFR Mutation Tests, KRAS
    Mutation Tests, Others)), Imaging (Ultrasound,
    Mammography, MRI Scan, PET Scan, CT Scan, SPECT
    Others), Biopsy (Needle Biopsy, Endoscopic
    Biopsy, Bone Marrow Biopsy, Others), Liquid
    Biopsy Immunohistochemistry In Situ
    Hybridization), By Cancer Type (Breast Cancer,
    Lung Cancer, Colorectal Cancer, Melanoma, Blood
    Cancers, Prostate Cancer, Ovarian Cancer, Stomach
    Cancer, Liver Cancer, Others), By End User
    (Hospital Associated Labs, Independent Diagnostic
    Laboratories, Diagnostic Imaging Centers, Cancer
    Research Institutes, Others), and By Region
    (North America, Latin America, Europe, Asia
    Pacific, Middle East Africa) - Size, Share,
    Outlook, and Opportunity Analysis, 2020 - 2027

  • Tumor biomarkers tests use in diagnosis of cancer
    include, prostate specific antigen (PSA),
    circulating tumor cells (CTC), Alfa-fetoprotein
    test (AFP), CA-19 test for pancreatic cancer,
    HER-2 test, BRCA test, ALK test for lung cancer,
    carcioembryonic test (CEA), EGFR mutation test,
    and RAS mutation test.
  • The global cancer diagnostics market is estimated
    to account for US 45,106.5 Mn in terms of value
    and is expected to reach US 83,641.9 Mn by the
    end of 2027.

Global Cancer Diagnostics Market Drivers
  • Increasing prevalence of cancer is expected to
    propel growth of the global cancer diagnostics
    market over the forecast period. For instance,
    according to the American Cancer Society, in
    2019, there will be an estimated 1,762,450 new
    cancer cases diagnosed and 606,880 cancer deaths
    in the U.S.

  • Moreover, RD in cancer diagnostics is also
    expected to aid in growth of the market. For
    instance, in January 2020, researchers from
    Universidade do Porto, Portugal, reported
    assessment of the role of O-glycosylation using
    glycoengineered gastric cancer models in the
    detection of CD44v9 a major protein splice
    variant isoforms expressed in human
    gastrointestinal cancer cellsby monoclonal
  • Biopsy held dominant position in the global
    cancer diagnostics market in 2019, accounting
    for 35.1 share in terms of value, followed by
    Imaging and Tumor Biomarkers Tests, respectively.

Figure 1. Global Cancer Diagnostics Market Share
(), by Value, by Test Type, 2019
Global Cancer Diagnostics Market Restraints
  • Inadequate reimbursement policies are expected to
    hinder growth of the market. There have been
    various advancements in radiology with regard to
    imaging equipment in the recent past. However,
    most medical insurance companies do not offer
    reimbursement for procedures using Computer-aided
    Detection (CAD). As a result, people tend to
    choose conventional methods for diagnosis such as
    biopsy, pathological test or conventional imaging
    methods such as mammography, and MRI procedures.
  • Moreover, high price of cancer detection software
    is also expected to hamper growth of the market.
    Computer-aided Detection (CAD) software is
    available with a one-year license and hospitals
    have to renew it each year. Moreover, some
    insurance providers are opting out of the CAD
    procedure reimbursement as it is deemed
    extravagant and not preferred by senior

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Global Cancer Diagnostics Market Opportunities 
  • Development of biopsy platforms for companion
    animal cancers is expected to offer lucrative
    growth opportunities for players in the global
    cancer diagnostics market. For instance, in
    January 2020, Zomedica Pharmaceuticals Corp., a
    veterinary diagnostic and pharmaceutical company,
    announced completing the development and
    manufacturing of its reference lab cancer liquid
    biopsy platform for canine cancers.

  • Moreover, use of AI in early detection of cancer
    is also expected to aid in growth of the market.
    For instance, Freenome, an AI genomics company
    based in the U.S., is focused on developing blood
    tests to detect the bodys early-warning signs of
    cancer, using AI. In October 2018, the company
    presented early data in RD for using machine
    learning to detect colorectal cancer at its
    earliest stages.
  • The global cancer diagnostics market was valued
    at US 41,542.4 Mn in 2019 and is forecast to
    reach a value of US 83,641.9 Mn by 2027 at
    a CAGR of 9.2 between 2020 and 2027.

  • Figure 2. Global Cancer Diagnostics Market Value
    (US Mn), and Y-o-Y Growth (), 2019-2027

Market Trends/Key Takeaways
  • Major players in the market are focused on
    adopting partnership strategies to enhance their
    market share. For instance, in February 2020,
    Foundation Medicine, Inc. and Chugai
    Pharmaceutical, Ltd. collaborated with National
    Cancer Center (NCC) for the use of
    FoundationOneLiquid, Foundation Medicines
    laboratory-developed liquid biopsy test, in the
    third stage of SCRUM-Japan, a cancer genomic
    screening consortium in Japan.
  • Major players in the market are also focused on
    adopting MA strategies to expand their product
    portfolio. For instance, in January 2020, Quest
    Diagnostics acquired Blueprint Genetics to expand
    its product portfolio in genetic and rare

Global Cancer Diagnostics Market Competitive
  • Major players operating in the global cancer
    diagnostics market include, Abbott Laboratories,
    F. Hoffmann-La Roche Ltd., Thermo Fisher
    Scientific Inc., Siemens AG, Bio Rad Laboratories
    Inc., GE Healthcare, Illumina, Inc., Koninklijke
    Philips N.V., Toshiba Medical Systems
    Corporation, Agilent Technologies, Inc., Aurora
    Imaging Technologies, Inc., Quest Diagnostics

Global Cancer Diagnostics Market Key Developments
  • Major players in the market are focused on
    approval and launch of new products to expand
    their product portfolio. For instance, in May
    2020, Myriad Genetics, Inc. received the U.S.
    Food and Drug Administration (FDA) approval for
    its BRACAnalysis CDx test as a CDx for Lynparza
    in homologous recombination repair-mutated
    metastatic castration-resistant prostate cancer.
  • Major players in the market are also focused on
    adopting partnership strategies to expand their
    product portfolio. For instance, in October 2019,
    Illumina, Inc. partnered with QIAGEN N.V. to
    broaden the availability and use of NGS-based
    in-vitro diagnostic kits, including companion
    diagnostics, for patient management.

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