Antibodies Inc. Is Fastest Growing Segment Fueling The Growth Of Cancer Diagnostics Market
Antibodies Inc. Is Fastest Growing Segment Fueling The Growth Of Cancer Diagnostics Market
Cancer diagnostics includes products and techniques used to diagnose different types of cancers in human body.
The global Cancer Diagnostics Market is estimated to be valued at US$ 59.1 Bn in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
 
Market Overview
 
Cancer diagnostics includes products and techniques used to diagnose different types of cancers in human body. Early detection plays a crucial role in cancer management and monitoring disease progression and response to therapy. Cancer diagnostics helps in diagnosing cancer at early stages and provides better treatment options to patients.
 
Market key trends
 
One of the key trends in cancer diagnostics market is the increasing adoption of monoclonal antibodies. Monoclonal antibodies bind to specific epitopes on cancer cells and help in early detection of various cancers including breast cancer, lung cancer and colorectal cancer. They play a major role in cancer staging, prognosis and guiding treatment decisions. Development of precision antibodies with high selectivity and affinity provides accurate cancer detection. Advancements in antibody engineering have enabled development of novel antibodies for blood-based and imaging-based liquid biopsy tests. Growing R&D in this area is expected to drive the market during the forecast period.
 
Segment Analysis
 
Content: The cancer diagnostics market is segmented into tumor type, technology, application, and end user. The tumor type segment is further divided into breast cancer, lung cancer, colorectal cancer, melanoma, and others. The breast cancer segment currently dominates the market due to the rising prevalence of breast cancer globally.
 
Key Takeaways
 
Market size: The global Cancer Diagnostics Market Size is expected to witness high growth, exhibiting CAGR of 7.1% over the forecast period, due to increasing prevalence of cancer and launch of advanced diagnostic technologies.
 
Regional analysis: North America dominates the global cancer diagnostics market currently due to presence of advanced healthcare infrastructure and increasing healthcare expenditure in the region. Asia Pacific is expected to be the fastest growing market owing to rising healthcare standards and increasing focus of key players.
 
Key players: Key players operating in the cancer diagnostics market are Myriad Genetics, Inc., F. Hoffmann-La Roche AG, Invitae Corporation, NeoGenomics Laboratories, Inc., BPS Bioscience, Inc. Antibodies Inc., Networks LLC, Beckman Coulter, Inc., Euro Diagnostica AB, F. Hoffmann-La Roche Ltd., Qiagen NV, Siemens Healthcare GmbH, Bio Rad Laboratories Inc., Exagen Inc. Genway Biotech, Inc., Microdrop LLC (imaware), Svar Life Science AB, Abbott Laboratories, Thermo Fisher Scientific Inc., Bio Rad Laboratories Inc., GE Healthcare, Illumina, Inc., Koninklijke Philips N.V., Toshiba Medical Systems Corporation, Agilent Technologies, Inc., Aurora Imaging Technologies, Inc., and Quest Diagnostics.
 

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