2024 Head And Neck Cancer Diagnostics Market Summary: 5 Key Findings
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What Growth Projections are in Place for the Head And Neck Cancer Diagnostics Market Between 2024-2033?
In recent times, there has been a swift increase in the size of the market for diagnostics of head and neck cancer. This market, which is forecasted to rise from $1.51 billion in 2023 to $1.79 billion in 2024, is experiencing a compound annual growth rate (CAGR) of 18.4%. The growth witnessed during the historical period can be connected to factors such as tobacco and alcohol use, a growing aged population, awareness initiatives, advances in biopsy techniques, and the improvement of healthcare infrastructure.
The market size for head and neck cancer diagnostics is predicted to experience a rapid expansion in the coming years. It is projected to climb to $3.32 billion by 2028 with a compound annual growth rate (CAGR) of 16.7%. This anticipated surge can be credited to factors such as genomic biomarkers, an increasing number of HPV-related cancers, the inclusion of artificial intelligence (AI), immunotherapy, targeted treatments, and changes in healthcare policies and reimbursement. The forecasted period is also expected to witness significant trends like dominance of liquid biopsy, multi-modality diagnostics, point-of-care diagnostics, international alliances and partnerships, and the integration of digital pathology.
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What Are the Major Factors Contributing to the head and neck cancer diagnostics Market Expansion?
The growth of the head and neck cancer diagnostics market is predicted to be driven by the escalating rates of head and neck cancers. This cluster of malignancies affects the organs and tissues of the head and neck, including the mouth, larynx, pharynx, salivary glands, and the nasal cavity, and sinuses. Diagnostics for these cancers, which utilize various tests such as barium swallow tests and incisional biopsies, facilitate early detection for patients. For instance, the American Society of Clinical Oncology, a professional association for US-based oncology specialists, indicated that in February 2023, head and neck cancers accounted for 4% of all US tumors. The society also projected that in 2023, 66,920 people (49,190 men and 17,730 women) will be affected by head and neck cancer in the USA. In 2020, these cancers impacted 562,328 individuals around the globe. In Australia, head and neck cancer statistics for 2022 revealed 5,189 new cases. Consequently, the uptick in head and neck cancer rates is fueling the expansion of the diagnostics market.
Which Key Segments Shape the Head And Neck Cancer Diagnostics Market?
1) By Diagnostic Method: Diagnostic Imaging Equipment, Endoscopy Screening Equipment, Biopsy Screening Tests, Dental Diagnostic Methods, Other Diagnostic Methods
2) By Channel: Retail and Specialty Pharmacies, Hospital Pharmacies, Online Pharmacies
3) By End-User: Hospitals, Diagnostic Centers, Other End Users
What Are the Transformative Trends Influencing the Head And Neck Cancer Diagnostics Market?
The rise in product innovation is one significant trend being observed in the head and neck cancer diagnostic market, with primary industry players focusing their strategies on manufacturing groundbreaking products to consolidate their market status. For instance, in May 2023, Alkem Laboratories Ltd., a health care company based in India, introduced Cetuxa, the globe’s inaugural biosimilar for treating head and neck cancer. Cetuxa is a biosimilar to cetuximab, a receptor-dependent transduction pathway inhibiting monoclonal antibody with tumor-fighting properties. It attaches to the extracellular domain of the epidermal growth factor receptor (EGFR). It is commonly utilized in conjunction with either chemotherapy or radiation therapy. This could potentially treat locally advanced, recurrent, or metastatic squamous cell carcinoma of the head and neck.
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What Regions Are Leading the Growth Trajectory of the Head And Neck Cancer Diagnostics Market?
North America was the largest region in the head and neck cancer diagnostics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the head and neck cancer diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Head And Neck Cancer Diagnostics Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the head and neck cancer diagnostics market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Head And Neck Cancer Diagnostics Market Include
1. Head And Neck Cancer Diagnostics Market Executive Summary
2. Head And Neck Cancer Diagnostics Market Segments
3. Head And Neck Cancer Diagnostics Market Size And Template Market Growth Rate
4. Key Head And Neck Cancer Diagnostics Market Trends
5. Major Head And Neck Cancer Diagnostics Market Drivers
……
25. Key Mergers And Acquisitions In The Head And Neck Cancer Diagnostics Market
26. Top Head And Neck Cancer Diagnostics Companies
27. Head And Neck Cancer Diagnostics Market Opportunities And Strategies
28. Head And Neck Cancer Diagnostics Market, Conclusions And Recommendations
29. Appendix
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