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Tuesday, 30 August 2016
Non-invasive Cancer Diagnostics Market Stimulated by Concerns Regarding Complexities of Invasive Cancer Tests
The significant rise in cancer cases globally and the complexities that are constantly observed with the use of diagnostic methods such as imaging and biopsies have led to an increased demand for non-invasive cancer diagnostic methods in the past few years. Transparency Market Research, in its recent report, titled “Non-Invasive Cancer Diagnostics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,” presents a thorough analysis of the market.
The report presents an overview of the key drivers, challenges, and trends that are expected to have a substantial impact on the overall future development of the market over the period between 2015 and 2023. The report also presents a through overview of the regulatory scenario and the competitive landscape of the market.
The rising global prevalence of cancer is the chief factor driving the global non-invasive cancer diagnostics market and is expected to have a vast impact on the market’s future growth prospects as well. The WHO states that by 2020, around 15 mn new cancer cases will be observed every year across the globe, of which ovarian, gastrointestinal, and breast cancer cases will have the highest rate of occurrence. This factor will require diagnostic methods that will enable the early and accurate detection of cancers in their early stage and reduce the considerable amount of burden that cancer treatment can have on national and international economies.
North America is presently the leading contributor to the overall revenues of the global non-invasive cancer diagnostics market, followed by Europe. High awareness about healthcare and disease prevention, and the easy availability of advanced technologies will help the market achieve sustainable growth in these regions in the next few years as well.
However, the market will see the most promising growth in emerging economies across Asia Pacific over the period between 2015 and 2023. The rising prevalence of cancer, increased awareness, and rising affordability of advanced tests will lead to a sizeable rise in demand for a variety of non-invasive cancer tests in the region over the said period.
The global non-invasive cancer diagnostics market features several international firms operating amid intense competition. Rising global investments in research and development of cancer-related diagnostics and treatment methodologies have led to the introduction of several advanced technologies in the market in the past few years. A recent instance is the introduction of Cologuard by Exact Sciences, which was approved by the U.S. FDA for non-invasive diagnosis of colorectal cancer in March 2014.
Some of the key vendors operating in the global non-invasive cancer diagnostics market are Affymetrix Inc, Compugen, Quidel, Abbott Molecular, Immunicon Corporation, Roche Diagnostics, Digene Corporation, Precision Therapeutics, GE Healthcare, and DiagnoCure.