2024 Gastric Cancer Diagnostic Procedure Market Overview: Key Insights on Size, Share, and Trends
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What is the Anticipated Growth Speed of the Gastric Cancer Diagnostic Procedure Market Between 2024 and 2033?
The market size for diagnostic procedures of gastric cancer has seen a robust growth in the past few years. It is predicted to increase from $1.32 billion in 2023 to $1.43 billion in 2024, growing at a compound annual growth rate (CAGR) of 8.0%. This significant growth during the historical period has been driven by advancements in biopsy methods, augmentation in research funding, the progression of biomarker discovery, enhanced interpretation in pathology, and alterations in screening guidelines.
In the ensuing years, the market for gastric cancer diagnostic procedures is projected to experience significant expansion. The predicted market value is $1.88 billion by 2028, growing at a compound annual growth rate (CAGR) of 7.1%. The projected growth during the forecast period is due to factors such as the increase in point-of-care testing, implementation of novel biomarkers, the shift towards individualized medicine, the use of next-generation sequencing approaches, and improved endoscopic imaging techniques. The forecast period will be marked by the incorporation of nanotechnology, the use of big data analytics, application of microbiota analysis, patient-focused approaches, and the role of telehealth in diagnostics..
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Which Factors Are Enhancing the Growth of the gastric cancer diagnostic procedure Market?
The rise in gastrointestinal disorders is a significant driver for the expansion of the gastric cancer diagnostic procedure market. These disorders affect various parts of the digestive system and its associated organs like the liver and pancreas. Stomach cancer is treated through a gastric cancer diagnostic technique including endoscopic and biopsy procedures. Thus, the spike in gastrointestinal ailments is leading to a boom in the gastric cancer diagnostic procedure market. For example, a report from August 2022, released by GI Associates & Endoscopy Center, a healthcare facility in the US known for gastroenterology services, mentioned that out of the 73,076 individuals across 33 countries included in their research, 40% had a functional gastrointestinal ailment. As a result, the escalating prevalence of such diseases bolsters the progression of the gastric cancer diagnostic procedure market.
Which Segments Are Crucial in the Gastric Cancer Diagnostic Procedure Market?
1) By Procedure Type: Endoscopic Procedure, Biopsy, Tissue tests, Lab tests, In-vitro Diagnostic Tests, Imaging Tests, Molecular Diagnostics, Multiplexing Molecular Diagnostics, Immunoassays, Other Procedure Types
2) By Symptom Type: Symptomatic, Asymptomatic
3) By Offering Type: Instruments, Reagents and Consumables, Services
4) By Body Fluid Type: Blood, Urine, Saliva, Stomach Juice, Tissue, Other Body Fluid
5) By Disease Indication: Early Gastric Cancer, Advanced Gastric Cancer
What Emerging Trends Are Shaping the Future of the Gastric Cancer Diagnostic Procedure Market?
The emergence of technological innovation is a growing trend that is shaping the gastric cancer diagnostics market. To solidify their presence in the market, leading companies involved in gastric cancer diagnostics are embracing cutting-edge technologies. For instance, in June 2022, an AI diagnostics provider for health entities known as Ibex Medical Analytics, based in Israel, introduced Galen Gastric. This is the first AI-enabled solution for the detection of gastric cancer globally. As a comprehensive diagnostic resource, Galen Gastric assists pathologists in detecting stomach cancer, H. pylori, and other crucial clinical observations, while also enabling more efficient diagnostic workflows and rapid response times.
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What Regions Are At the Forefront of Gastric Cancer Diagnostic Procedure Market Expansion?
North America was the largest region in the gastric cancer diagnostics procedure market in 2023. The regions covered in the gastric cancer diagnostic procedure market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Gastric Cancer Diagnostic Procedure 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 gastric cancer diagnostic procedure market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Gastric Cancer Diagnostic Procedure Market Include
1. Gastric Cancer Diagnostic Procedure Market Executive Summary
2. Gastric Cancer Diagnostic Procedure Market Segments
3. Gastric Cancer Diagnostic Procedure Market Size And Template Market Growth Rate
4. Key Gastric Cancer Diagnostic Procedure Market Trends
5. Major Gastric Cancer Diagnostic Procedure Market Drivers
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25. Key Mergers And Acquisitions In The Gastric Cancer Diagnostic Procedure Market
26. Top Gastric Cancer Diagnostic Procedure Companies
27. Gastric Cancer Diagnostic Procedure Market Opportunities And Strategies
28. Gastric Cancer Diagnostic Procedure Market, Conclusions And Recommendations
29. Appendix
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