LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global cancer diagnostics market to post a CAGR of more than 7% during the period 2018-2022, in their latest market research report.
The emergence of liquid biopsies is a key trend, which is expected to impact the growth of the global cancer diagnostics market. A liquid biopsy is a simple and non-invasive cancer diagnostic technique, It is widely used as an alternative to other surgical biopsy methods. The invasive nature of liquid biopsy makes it more adaptable. Moreover, it can also be used to validate the efficacy of cancer treatment by conducting multiple liquid biopsies over a period.
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In this report, Technavio researchers identify the growing incidence of cancer as one of the key factors contributing to the growth of the global cancer diagnostics market:
Global cancer diagnostics market: Growing incidence of cancer
Physical inactivity, unhealthy food habits, and excessive consumption of tobacco and alcohol can lead to kidney, lung, head, neck, stomach, and larynx cancer. Exposure to several chemical mutagens, infectious micro-organisms, ionizing radiation, and environmental contaminants can also lead to cancer. All these factors are contributing to the worldwide increase in the incidence of cancer.
According to a senior analyst at Technavio for in-vitro diagnostics research, “The rise in the incidence of cancer will lead to an increase in demand for cancer diagnostics, which augurs well for the cancer diagnostics market.”
Global cancer diagnostics market: segmentation analysis
This market research report segments the global cancer diagnostics market by type (IVD tests, imaging, endoscopy, and biopsy) and key regions (the Americas, APAC, and EMEA).
The IVD tests segment is expected to dominate the market with a market share of close to 33% in 2017. The imaging and endoscopy segments are expected to witness a small increase in their market shares while the market shares of the other two segments will decrease during the forecast period.
Americas dominated the market in 2017, accounting for a market share of close to 48%, followed by EMEA and APAC. However, the market share of the Americas will decline over the forecast period, while the other two regions namely the APAC and EMEA will see a small increase in their market shares by 2022.
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