Cancer Diagnostics Market: Global Market Share by Key Players (Imaging Equipment Manufacturers) 2020

Cancer diagnostics involve procedures and tests to confirm the presence of cancer and help in the identification of the precise tumor location, extent, type, and stage. A detailed and accurate cancer diagnosis is the major step for developing a customized cancer treatment plan. Owing to the advancements in technologies, there are a number of diagnostic tools introduced for the detection of cancers. Once suspected, the diagnosis usually takes place under the supervision of oncopathologists, pathologists, and imaging radiologists.

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The global cancer diagnostics market is driven by growing prevalence of different forms of cancer, rising cancer awareness, support of government initiatives and funding, and increase in healthcare expenditure. The introduction of non-invasive screening methods and novel diagnostic biomarkers are anticipated to create new revenue streams and boost the cancer diagnostics market over the next five years. However, uncertain reimbursement scenario in certain countries and lack of specificity and sensitivity threaten to impede the growth of the cancer diagnostics market.

By geography, the global cancer diagnostics market is segmented into North America, Asia Pacific, Europe, and Rest of the World. Accounting for a 40.70% share of the overall cancer diagnostics market in 2013, North America dominated the scene owing to rising initiatives by the government to support cancer awareness, high adoption rate of preventive diagnostic techniques, and high incidence rate of cancer among the population. This regional market for cancer diagnostics is anticipated to register a 7.0% CAGR from 2014 to 2020.

In terms of method, the report segments the cancer diagnostics market into endoscopy, biopsy, imaging, and tumor biomarker tests. Amongst these, imaging for cancer detection leads the market due to its increasing usage in the detection of all the types of cancers. A number of imaging modalities are used; these include PET, MRI, mammography, CT, and ultrasound imaging. Amongst these, ultrasound imaging and CT scan constitute over two-thirds of the overall cancer imaging market. On the other hand, the segment of tumor biomarker tests is the segment in which the maximum research activities are taking place currently. Protein-based biomarkers such as cancer embryonic antigen (CEA), alpha-fetoprotein (AFP), and prostate-specific antigen (PSA), among others are the most commonly utilized tumor biomarkers.

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The most prominent participants of the cancer diagnostics market include Eli Lilly and Co., Genoptix, Inc., GlaxoSmithKline plc, bioMerieux, F. Hoffmann-La Roche Ltd., Pfizer, Abbott Laboratories, Ambry Genetics, Novartis, and AstraZeneca. These players are profiled in the cancer diagnostics market report based on aspects such as company overview, recent developments, product portfolio, business strategies, and financial standing.

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