The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s cancer diagnostics market report forecasts the cancer diagnostics market size to grow to $33.13 Billion by 2027, with a CAGR (compound annual growth rate) of more than 11%.

Learn More On The Cancer Diagnostics Market Report 2023 – https://www.thebusinessresearchcompany.com/report/cancer-diagnostics-global-market-report

Cancer Diagnostics Market Size Forecast
The global cancer diagnostics market is expected to grow from $19.18 billion in 2022 to $21.38 billion in 2023 at a compound annual growth rate (CAGR) of 11.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global cancer diagnostics market size is expected to grow to $33.13 billion in 2027 at a CAGR of 11.6%.

North America held the largest cancer diagnostics market share.

Key Cancer Diagnostics Market Driver ­– Increase In High Prevalence Rate Of Various Types Of Cancers
This is because the increasing incidences of various types of cancers are leading to a greater number of people opting for diagnosis and treatment. In addition, according to the World Health Organization (WHO), cancer was the second-leading cause of death worldwide. The National Cancer Institute (NCI) has estimated the number of new cancer cases per year to reach 23.6 million by 2030.

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Key Cancer Diagnostics Market Trend – Developing AI-Based Cancer Detection System
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 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%.

Cancer Diagnostics Market Segment
1) By Products: Companion Diagnostics, Molecular Diagnostics
2) By End-User: Cancer Research Institutes, Diagnostic Laboratories, Hospitals, Other End Users
3) By Method: Biopsy, Endoscopy, Tumor Biomarker Tests, Imaging
4) By Application: Cervical Cancer, Breast Cancer, Liver Cancer, Blood Cancer, Kidney Cancer, Colorectal Cancer, Pancreatic Cancer, Ovarian Cancer, Melanoma, Other Applications

Cancer Diagnostics Market Major Players and Strategies
Major players in the cancer diagnostics market are Abbott, Becton Dickinson and Company, Hoffmann-La Roche Ltd., GE Healthcare Ltd., Thermo Fisher Scientific, Siemens Healthcare GmbH, Accuray, Illumina, Elekta AB, and C.R. BardInc.

The Cancer Diagnostics Global Market Report 2023 covers regional data on cancer diagnostics market size, cancer diagnostics market trends and drivers, opportunities, strategies, and cancer diagnostics market competitor analysis. The countries covered in the cancer diagnostics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Cancer diagnostic devices are used to diagnose the stage and cause of the condition by identifying the oncogenic proteins, and certain enzymes released by the tumor cells in patients.

View More Reports Related To The Cancer Diagnostics Market –
Cancer Tumor Profiling Global Market Report 2022
Cervical Cancer Diagnostics Global Market Report 2022
Cancer Immunotherapy Global Market Report 2022

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