In Vitro Cancer Diagnostics Market Size, Share & Trends Estimation Report by Types(Instruments,Reagents and Kits),by Applications(Laboratories,Hospitals),By Technique Type(Molecular Diagnostics,Clinical chemistry,Point-Of-Care), By Region, And Segment Forecasts, 2023 - 2030
The Global In-vitro Cancer Diagnostic Market is expected to grow at a CAGR of 3.9% during the forecasting period 2023-2030.
In Vitro Cancer Diagnostics Market Overview:
Cancer is the uncontrolled proliferation of cells that can lead to tumor formation and disrupt the digestive, nervous and circulatory systems. Tumor cells release hormones that change how the body functions. Tumors that stay in one location and show limited growth are considered benign cancers. At the same time, cancer cells that destroy healthy tissues using lymph and blood flow throughout the body, which is called malignant cancer. In vitro cancer diagnosis is a technique that uses reagents and medical devices to examine samples such as body fluids, tissues, feces, urine, and blood. These specimens are derived from the human body to diagnose and detect infections, conditions, and diseases. These tests can be performed in point-of-care, hospital-based laboratories, and stand-alone laboratories. Continued innovation in the technology and design of in vitro cancer diagnostic products is forcing researchers and physicians to focus on personalized medicines away from traditional diagnostic methods.
In Vitro Cancer Diagnostics Market size, estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global In Vitro Cancer Diagnostics Market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.
Key Market Updates:
- In November 2018, Roche launched the first automated in vitro diagnostic VENTANA pan-TRK assay to detect tropomyosin receptor kinase protein in cancer.
Major Market Segments Covered in In Vitro Cancer Diagnostics Market Industry Research:
Market Key Players:
MDx Health Quest Diagnostics, R-Biopharm AG, Signature Diagnostics, Siemens Healthcare, Randox Laboratories, Epigenomics AG, And Others.
- Reagents and Kits
- Molecular Diagnostics
- Clinical chemistry
North America is expected to be a dominant region in the global in vitro cancer diagnostics market owing to the presence of several advanced technologies and the presence of several prominent market players from countries such as the United States and Canada.
Europe is expected to provide lucrative growth opportunities for the global in vitro cancer diagnostics market owing to increasing diagnostic opportunities in cancer screening and genetic testing.
Asia Pacific is expected to witness moderate growth in the overall in vitro cancer diagnostics market owing to the development of healthcare infrastructure facilities in countries such as India. Leading market players are able to establish R&D centers in Asia Pacific countries due to the easy availability of key resources such as land and labor.
The rest of the world is expected to witness sluggish growth in the overall market over the next few years.
Significant Market Dynamics:
Global in vitro cancer diagnostics market growth is driven by rising chronic and infectious disease rates, growing aging population, increasing demand for preventive medicines and companion diagnostics, and favorable government initiatives are some of the key factors driving the market growth.
Increasing use of Point-Of-Care (POC) and technological advances in IVD tools are expected to drive the market growth.
Increasing usage and demand for POC devices is driving the market growth. Additionally, the introduction of advanced technologies such as biochips and nanotechnology and miniaturization of microfluidic tools are driving the demand for POC devices. These advanced technologies account for easy access to point-of-care diagnostic tests and fast and accurate test results, which has increased the demand for in vitro cancer diagnostics market. For example, on April 11, 2019, to fight cancer, Sophia Genetics announced that it will treat lung, colorectal, skin and brain cancers.
Increasing cancer incidence is expected to drive the global in vitro cancer diagnostics market growth.
According to the World Health Organization (WHO), cancer is the second leading cause of death worldwide, with over 18.1 million diagnoses in 2018. The most common cancers in the United States are lung, breast, and prostate cancer. , colorectal cancer, thyroid cancer, pancreatic cancer, non-Hodgkin's lymphoma, melanoma, renal pelvic cancer, kidney cancer and leukemia. According to WHO in 2020, approximately 19 million new cancer cases were diagnosed worldwide. Likewise, the American Cancer Society reported that 89,500 cases were diagnosed in the United States in 2020. These figures have led to increased adoption of in vitro cancer diagnostic devices.
Operating conditions such as storage and transportation hinder significant market growth.
Remarkable advancements in clinical laboratories are expected to hamper the market growth during the forecast period. Additionally, the need for expertise in the technical operation of these systems, storage condition requirements, and transportation costs is expected to hamper the market growth during the forecast period.
In Vitro Cancer Diagnostics Market report scope:
|Units||Value (USD Billion)
|Growth Rate||CAGR of 3.9% from 2023 to 2030|
|By Technique Type:||
|By Companies||MDx Health Quest Diagnostics, R-Biopharm AG, Signature Diagnostics, Siemens Healthcare, Randox Laboratories, Epigenomics AG, And Others.|
|Reasons to Purchase this Report||
Crucial Points from this In Vitro Cancer Diagnostics Market Report
- Estimate In Vitro Cancer Diagnostics Market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
- Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
- Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
- Get a quick viewpoint on the In Vitro Cancer Diagnostics Market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
- Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
- Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Study the sales and distribution channels over key geographies to improve top-line revenues.