Global Cancer Diagnostics Market Trends And Strategies Of Major Players In The Cancer Diagnostics Market 2021-2030

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The cancer diagnostics market consists of sales of cancer diagnostic devices and equipment. Cancer diagnostic equipment is used to identify biomarkers, proteins and symptoms in order to detect a cancerous tumor in the patient. Cancer diagnostics market is segmented into companion diagnostics and molecular diagnostics.

Global Cancer Diagnostics Market Size And Drivers:

The global cancer diagnostics market is expected to grow from $156.27 billion in 2020 to $170.21 billion in 2021 at a compound annual growth rate (CAGR) of 8.9%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The cancer diagnostics market is expected to reach $239.23 billion in 2025 at a CAGR of 8.9%. A high prevalence rate of various types of cancers is a major driver of the cancer diagnostics market.

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Trends In The Global Cancer Diagnostics Market

AI-based cancer detection system is an emerging trend in the cancer diagnostics market. AI helps in improving the accuracy of image detection in diagnostic processes such as breast cancer and lung cancer diagnostics, by detecting the cancers in early stages. AI also reduces the instances of false positives in lung cancer screening, thus, improving the lung cancer detection accuracy. For instance, researchers at the Naval Medical Center San Diego and Google's AI research division Google AI, developed a reliable solution comprised of cancer-detecting algorithms used for autonomous evaluation of lymph node biopsies. This AI solution improved the accuracy of metastatic breast cancer detection to 99%.

Global Cancer Diagnostics Market Segments:
The global cancer diagnostics market is further segmented –
By Products: Companion Diagnostics, Molecular Diagnostics
By End-User: Cancer Research Institutes, Diagnostic Laboratories, Hospitals, Others
By Method: Biopsy, Endoscopy, Tumor Biomarker Tests, Imaging
By Application: Cervical Cancer, Breast Cancer, Liver Cancer, Blood Cancer, Kidney Cancer, Colorectal Cancer, Pancreatic Cancer, Ovarian Cancer, Melanoma, Others
By Geography: The global cancer diagnostics market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Cancer Diagnostics Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides cancer diagnostics market overviews, analyzes and forecasts market size and growth for the global cancer diagnostics market, cancer diagnostics market share, cancer diagnostics market players, cancer diagnostics market segments and geographies, cancer diagnostics market’s leading competitors’ revenues, profiles and market shares. The cancer diagnostics market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.