Sat. Dec 4th, 2021

Increasing prevalence of diseases is expected to drive the growth of Asia-Pacific cancer diagnostics market during the forecast period.

According to TechSci Research report, Asia-Pacific Cancer Diagnostics Market By Diagnostic Type (Lab Testing, Genetic Testing, Imaging Testing, Biomarkers Testing, In Vitro Diagnostic Testing, Biopsy and Others), By Technology (Platform Based, Instrument Based, Tumour Biomarker Tests), By Application (Lung Cancer, Breast Cancer, Colorectal Cancer, Prostate Cancer, Kidney Cancer, Skin cancer, Others), By End-User (Diagnostic Centers, Hospitals and Clinics, Research Institutes and Others), By Region, Forecast & Opportunities, 2026”, the Asia-Pacific cancer diagnostics market is expected to grow at a formidable CAGR during the forecast period on account of increasing trend of unhealthy diet amongst population in the region. This in turn leads to increased count of patients suffering from diabetes and cancer, which is expected to propel the market over the next five years. Furthermore, growing efforts undertaken by government to create awareness regarding cancer, as well as to minimize the disease burden is anticipated to positively impact the growth of market through 2026. Surging demand for screening tools and techniques is further spurring the growth of market. However, high cost of diagnosis might hamper the growth of market during forecast period. Furthermore, several side effects associated with imaging solutions is expected to impede the growth of market over the next few years.

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The Asia-Pacific cancer diagnostics market is segmented based on diagnostic type, technology, application, end-user, company and region. Based on diagnostic type, the market is categorized into lab testing, genetic testing, imaging testing, biomarkers testing, in vitro diagnostic testing, biopsy and others. The imaging testing segment dominated the market until 2020 and is expected to dominate the market during forecast period as well. This dominance can be ascribed to the fact that imaging modalities such as computed tomography scan and magnetic resonance imaging are quick, non-invasive, and pain-free diagnostic solutions. In addition to this, technological advancements in imaging modalities have contributed to the segment growth. Based on end-user, the market can be fragmented into diagnostic centers, hospitals and clinics, research institutes and others. The hospitals and clinics segment is expected to dominate the market during the forecast period on account of increased rates of adoption of technologically advanced imaging modalities and other devices which are used in the detection of cancer.

Thermo Fisher Scientific, Inc., GE Healthcare (A Subsidiary of General Electric Company), Abbott Laboratories, Inc., Becton, Dickinson and Company, Siemens AG, Agilent Technologies, Inc., F. Hoffmann-La Roche Ltd., Bio Rad Laboratories Inc., Illumina, Inc., Boehringer-Ingelheim International GmbH and others are some of the leading players operating in Asia-Pacific cancer diagnostics Market. The companies operating in the market are using Go-to-Market strategies such as product launches, mergers and acquisitions and research collaborations to boost their share.

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“Asia-Pacific cancer diagnostics market is expected to witness high growth in the market during the forecast years owing to increasing healthcare expenditure and presence of a large patient pool in the region. Additionally, thriving medical tourism industry in developing economies such as India, China, and Malaysia is further anticipated to spur the market growth. Also, presence of large market players along with favorable government policies supporting the growth of the manufacturing industry in the region is creating lucrative opportunities for the growth of cancer diagnostics market in the upcoming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Asia-Pacific Cancer Diagnostics Market By Diagnostic Type (Lab Testing, Genetic Testing, Imaging Testing, Biomarkers Testing, In Vitro Diagnostic Testing, Biopsy and Others), By Technology (Platform based, Instrument based, Tumour Biomarker Tests), By Application (Lung Cancer, Breast Cancer, Colorectal Cancer, Prostate Cancer, Kidney Cancer, Skin Cancer, Others), By End-User (Diagnostic Centers, Hospitals and Clinics, Research Institutes and Others), By Region, Forecast & Opportunities, 2026”, has evaluated the future growth potential of Asia-Pacific cancer diagnostics market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Asia Pacific cancer diagnostics market.

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