Cancer Diagnostics Market: Key Challenges and Opportunities

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Cancer Diagnostics Market Growth Prospects, Key
Vendors, Future Scenario Forecast to 2032
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• Industry Insights

• Cancer Diagnostics Market is anticipated to grow
  substantially through 2032, owing to the
  increasing awareness around cancer and rising
  healthcare expenditure for offering better and
  more innovative treatments.
• Growing chronic illnesses, high disposable
  incomes, and increasing infectious disease
  prevalence have resulted in the demand for
  pathological laboratories, positively influencing
  the cancer diagnostics industry outlook.
• Besides, the growing need to diagnose lump
  formation at nascent stages will as well add
  impetus to the cancer diagnostics demand.
• Based on application, the tumor biomarkers tests
  segment was valued at over USD 27.5 billion in
  2022.

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• The wide application of biomarkers in cancer
  treatment, drug development, and diagnostics is
  slated to impel the product demand through the
  coming years. Besides, biomarkers are crucial for
  every stage of the disease.
• Additionally, the effectiveness and affordability
  of tumor biomarker tests would stimulate the
  market growth curve over 2023-2032.
• Considering the cancer, the breast cancer segment
  will register notable growth during the estimated
  timeframe. Increasing cases of breast cancer
  recorded worldwide due to unhealthy lifestyles,
  obesity, and reduced childbearing will bolster
  the segmental growth in the ensuing years.
• For the record, in 2022, an estimated 287,850 new
  cases of invasive and 51,400 new cases of
  non-invasive breast cancer were diagnosed in
  women in the U.S.

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• Regional Analysis

• Regionally, the Asia Pacific cancer diagnostics
  market is expected to grow significantly from
  2023 to 2032. The regional market growth can be
  attributed to the constantly surging tobacco and
  alcohol consumption. In addition, sedentary
  lifestyle and unhealthy eating habits will also
  serve as key factors leading to several types of
  cancers, owing to which there has been a rising
  demand for diagnostics services in developed
  economies.

• Competitive Analysis

• Some of the leading companies in the global
  cancer diagnostics market include Agilent
  Technologies Inc, Abbott Laboratories, Becton,
  Dickinson and Company, AB Sciex Pte. Ltd, Biocare
  Medical LLC, BioMerieux SA, Biocartis, Bio-Rad
  Laboratories.

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