Asia-Pacific Cancer Diagnostics Market: Current Analysis and Forecast (2022-2028)
$3999 – $6999
Emphasis on Application (Blood Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Breast Cancer, Cervical Cancer, others); Diagnostic Type (Lab Testing, Genetic Testing, Imaging Testing, Biomarkers Testing, In Vitro Diagnostic Testing, Biopsy, Others); Technology (Platform-Based, Instrument Based, Tumor Biomarker Tests); End User (Hospitals, Cancer Research Institutes, Diagnostic Laboratories, Others) and Country
The Asia-Pacific cancer diagnostics market is expected to register a significant CAGR of around 9% over the period of 2022-2028. The Asia-Pacific cancer diagnostics market is experiencing significant growth due to the surge in the number of endorsements for cancer screening such as blood cancer, lung cancer, colorectal cancer, prostate cancer, breast cancer, cervical cancer, and others have increased the diagnosis rate of cancer diagnostics in Asia-Pacific. Major healthcare companies are investing heavily in their products due to rising social awareness regarding cancer. For instance, in September 2022, INOVIQ Limited is developing and commercializing next-generation exosome capture tools and precision diagnostics to improve the diagnosis and treatment of cancer and other diseases. INOVIQ cancer diagnostic pipeline includes blood tests in development for earlier detection and monitoring of ovarian, breast, and other cancers. Thus, The CDx pan-cancer indication will allow the identification of cancer patients with multiple tumor genes and biomarkers to reveal the specific molecular profile of a patient’s cancer. Furthermore, the advanced technology, portability, which assesses solid tumors that are positive for neurotrophic tyrosine receptor kinase (NTRK) gene fusions and will be a desirable choice for consumers looking to perform cancer diagnoses across a wide range of diagnostic settings. Therefore, the market for Asia-Pacific cancer diagnostics is expected to witness significant growth during the forecast period.
- Hoffmann-La Roche Ltd, BioMérieux Inc., Abbott Laboratories, Qiagen, Sysmex Corporation, Danaher Corporation, Siemens Healthcare GmbH, DiaSorin S.p.A., Illumina Inc., Agilent Technologies Inc are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst application, lung cancer category accounted for the majority share in the market in 2020”
Based on application, the market is classified into blood cancer, lung cancer, colorectal cancer, prostate cancer, breast cancer, cervical cancer, and others. The lung cancer category accounted for a significant share of the market. Lung cancer is the most common form of cancer. The growing prevalence of lung cancer mainly due to an increase in the frequency of smoking, second-hand smoke, exposure to certain toxins, and family history segment is expected to boost the growth of the segment over the forecast period.
“Amongst technology, tumor biomarker tests category expected to witness highest CAGR in the market in 2020”
Based on technology, the market is categorized into platform-based, instrument-based, and tumor biomarker tests. Among these, tumor biomarker tests are expected to witness the highest CAGR during the forecast period. The diagnosis of cancer is basically a procedure for the identification of different biomarkers, proteins, and certain signs that make it easier the discovery of cancerous tumors in patients. The identification of certain proteins or biomarkers present in cancer diseases supports the diagnosis process.
“Amongst end user, hospitals are expected to witness highest CAGR during the forecast period”
Based on the end user, the market is categorized into hospitals, cancer research institutes, diagnostic laboratories, and others. Among these, hospitals are expected to witness the highest CAGR during the forecast period. A growing number of hospitals owing to the increasing preference of patients for hospital-based procedures, availability of skilled healthcare professionals, and favorable reimbursement scenarios are contributing to the growth of the segment. The benefits associated with the hospital such as the availability of proposing accurate diagnoses, and better alternatives which the end-users more inclined toward the hospital. The continuous development of new products and procedures is likely to strengthen the market of the segment during the forecast period
“China to witness significant growth during the forecast period”
China is expected to show the highest CAGR growth in the Asia-Pacific cancer diagnostics market. The increase in technological development in emerging economies, as well as the expansion of the healthcare industry, has contributed to the growth of the China market. China has a higher adoption rate of technologically advanced and innovative solutions for the diagnostics of cancer. The enhanced cancer awareness regarding the availability of various cancer diagnostics has propelled the growth of the market in the region. Furthermore, the increasing geriatric population and new product launches, and various developmental strategies adopted by the regional market will drive market growth. For instance, in July 2020, F. Hoffmann-La Roche Ltd. launched an automated digital pathology algorithm, the uPath PD-L1 (SP263) image analysis for non-small cell lung cancer (NSCLC). The endorsement of increasing demand for cancer diagnostic awareness campaigns also significantly contributed to the considerable growth of the country.
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- Deep dive regional level analysis of the industry.
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|1.4.||Currency used in Report|
|2.1.||Research Process of the Asia-Pacific Cancer Diagnostics Market|
|2.2.||Research Methodology of the Asia-Pacific Cancer Diagnostics Market|
|2.5.||Main Objective of the Asia-Pacific Cancer Diagnostics Market Study|
|5||ASIA-PACIFIC CANCER DIAGNOSTICS MARKET COVID-19 IMPACT|
|6||ASIA-PACIFIC CANCER DIAGNOSTICS MARKET REVENUE (USD BN), 2020-2028F|
|8.5.||In Vitro Diagnostic Testing|
|9.3.||Tumor Biomarker Tests|
|10.2.||Cancer Research Institutes|
|11.5.||Rest of Asia-Pacific|
|13||ASIA-PACIFIC CANCER DIAGNOSTICS MARKET OPPORTUNITIES|
|14||ASIA-PACIFIC CANCER DIAGNOSTICS MARKET TRENDS|
|15||POLICY & REGULATORY FRAMEWORK|
|16.1.||Demand Side Analysis|
|16.2.||Supply Side Analysis|
|17||VALUE CHAIN ANALYSIS|
|18.1.1.||Porter’s Five Forces Analysis|
|19.1.||F. Hoffmann-La Roche Ltd|
|19.7.||Siemens Healthcare GmbH|
|19.10.||Agilent Technologies Inc|
Research Methodology for the Asia-Pacific Cancer Diagnostics Market Analysis (2022-2028)
Analyzing the historical market, estimating of the current market, and forecasting the future market of the Asia-Pacific cancer diagnostics market were the three major steps undertaken to create and analyze the adoption of Asia-Pacific cancer diagnostics in major regions. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Asia-Pacific cancer diagnostics market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Asia-Pacific cancer diagnostics market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Asia-Pacific cancer diagnostics market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as application, diagnostic type, technology, end-user, and country. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Asia-Pacific cancer diagnostics market. Further, we conducted factor analysis using dependent and independent variables such as application, diagnostic type, technology, end user, and country of Asia-Pacific cancer diagnostics. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Asia-Pacific cancer diagnostics market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Asia-Pacific cancer diagnostics market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach were applied to arrive at the market forecast for 2027 for different segments and sub-segments across the major markets. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the Asia-Pacific cancer diagnostics market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the Asia-Pacific cancer diagnostics market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the Asia-Pacific cancer diagnostics market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of application, diagnostic type, technology, end user, and country in the Asia-Pacific cancer diagnostics market.
The main objective of the Asia-Pacific cancer diagnostics Market Study
The current & future market trends of the Asia-Pacific cancer diagnostics market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the Asia-Pacific cancer diagnostics market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of application, diagnostic type, technology, end user, and country.
- Define and analysis of the regulatory framework for the Asia-Pacific cancer diagnostics market industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the Asia-Pacific cancer diagnostics market for the major region.
- Major countries studied in the report include Germany, the UK, France, Italy, Spain, and Rest of the Europe.
- Company profiles of the Asia-Pacific cancer diagnostics market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry