The global cancer diagnostics market witnesses high competitive intensity as there are several big and many small firms operating in different segments of the market.These companies adopt various strategies (agreements/partnerships/joint ventures/collaborations, new product launches, geographical expansions, and acquisitions) to increase their market shares and establish a strong foothold in the global market.
The instrument-based cancer diagnostics segment accounted for the largest share of the global the cancer diagnostics market, by technology, while breast cancer accounted for the largest share of the cancer diagnostics applications market, in 2014. North America accounted for the largest share of the global cancer diagnostics market, followed by Europe, Asia, and the Rest of the World (RoW). In the coming years, the cancer diagnostics market is expected to experience the highest growth rate in the Asian region, with emphasis on India and China. These countries are expected to serve as revenue pockets for companies operating in the cancer diagnostics market.
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According to the CDC, cancer is the second leading cause of mortality, causing ~584,881 deaths worldwide in 2013. Early diagnosis is the key to prevent the rising number of cancer-related deaths. The global cancer diagnostics market is witnessing a rapid transformation owing to several technological advancements in diagnostic platforms such as next-generation sequencing, DNA microarrays, and polymerase chain reaction (PCR). Moreover, the market has seen the advent of hybrid imaging instruments with enhanced accuracy, such as PET/CT and SPECT/CT. These advancements have augmented the growth of the cancer diagnostics market.
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The global cancer diagnostics market is witnessing a rapid transformation owing to several technological advancements in diagnostic platforms. Moreover, the market has seen the advent of hybrid imaging instruments with enhanced accuracy, such as PET/CT and SPECT/CT. These advancements have augmented the growth of the cancer diagnostics market. However, shortage of trained and skilled personnel poses as a restraint to the market growth of cancer diagnostics. Rise in aging population and increasing cancer cases are likely to create huge opportunity for cancer diagnostics.
The report provides insights on the following pointers:
- Market Penetration:Comprehensive information on the product portfolios offered by the top players in the cancer diagnostics market. The report analyzes cancer diagnostics by technology, application, and geography
- Product Development/Innovation: Detailed insights on the upcoming technologies, research and development activities, and new product launches in the cancer diagnostics market
- Market Development: Comprehensive information about the lucrative emerging markets. The report analyzes the markets for various cancer diagnostic technologies across regions
- Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the cancer diagnostics market
- Competitive Assessment: In-depth assessment of the market shares, strategies, products, distribution networks, and manufacturing capabilities of the leading players in the cancer diagnostics market
Some of the major players in the global cancer diagnostics system market include Agilent Technologies, Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Illumina, Inc. (Denmark), Becton, Dickinson and Company (U.S.), GE Healthcare (U.K.), QIAGEN N.V. (Netherlands), Abbott Laboratories, Inc. (U.S.), Roche Diagnostics (Switzerland), Siemens Healthcare (Germany), Philips Healthcare (U.K.), and C.R. Bard, Inc. (U.S.), among others.
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