Kalorama Information Expects the Global Cancer Diagnostics Market to Reach 5.8BN in 2022
In its recent publication Cancer Diagnostics Market, IVD research firm Kalorama Information (part of Science and Medicine Group) pegs the global cancer market for tests used to identify and assess cancer to reach 5.8BN this year, an increase of nearly 7% from last year.
The estimate in Kalorama’s World Market for Cancer Diagnostics report reflects revenue earned by in vitro diagnostic (IVD) firms that make tests and reagent kits. Despite advancements, cancer cases continue to grow, creating demand for testing. The United Nations’ International Agency for Research on Cancer (IARC) estimates that, worldwide, more than 19 million new cases and nearly 10 million cancer-linked deaths occurred worldwide in 2020. The proliferating cancer threat is boosting world demand and growth opportunities for specific, sensitive tests, as well as precision medicine and companion diagnostics for treating cancer.
Cancer Types with the highest mortality afflict the lungs, colorectal system, stomach, liver, and breasts. A number of other widely prevalent types, including brain, esophageal, and pancreatic conditions, have very low survival rates.
Kalorama’s report says that cancer diagnostics is a highly dynamic field that consists of various types of platforms. Molecular diagnostics platforms are increasingly becoming popular as they enable accurate diagnosis as well as prognosis evaluation, which are important for treatment decisions. Rapid uptake of NGS is expected to have significant influence on cancer diagnostics and cancer management.
However, a non-molecular test leads revenues. Kalorama’s report said that immunohistochemistry tests are the largest test category, representing over one-fourth of the market.
Tumor markers are an important and fast-growth category of testing. Tumor markers are substances produced by, and genetic changes occurring in, cancer cells as well in normal cells in response to the presence of cancer. These markers can be detected in blood and other bodily fluids, healthy and diseased tissue, and stools. Proteins, which exist naturally in normal cells, but are overproduced by cancer cells, make up the bulk of tumor marker substances. Genetic changes include gene mutations, altered tumor gene expression patterns, and other processes that lead to modifications in tumor cell DNA and RNA.
Kalorama says the urgent need to improve the outcome of patients with various forms of cancer is boosting opportunities for new and existing tests that help detect tumors early, determine disease risk, identify and assess the effectiveness of therapies, and assist in the discovery and commercialization of new improved anti-cancer agents.
Kalorama’s report has breakouts of several different types of cancer testing types. The report also discusses trends in the market, geographic regional markets and the competitive analysis situation. Kalorama also offers reports as part of a “Knowledge Center” where companies subscribe to everything that is published.
More information about the report can be found here: https://kaloramainformation.com/product/world-market-for-cancer-diagnostics/
About Kalorama Information:
Kalorama Information, part of Science and Medicine Group, is the leading publisher of market research in healthcare areas, including in vitro diagnostics (IVD), biotechnology, medical devices, and pharmaceuticals. Science and Medicine Group supports companies seeking to commercialize the rapidly changing marketplace at the intersection of science, medicine, and technology. Comprised of industry-leading brands, Science and Medicine Group serves analytical instrument, life science, imaging, and clinical diagnostic companies by helping them create strategies and products to win markets and provide platforms to digitally engage their markets through a variety of innovative solutions. Kalorama Information produces 30 reports a year. The firm offers a Knowledge Center, which provides access to all published reports.