Better Medicare Ahead As Cancer Diagnostics Market Grows

Better Medicare Ahead As Cancer Diagnostics Market Grows

Provided by BIS Research

According to a report published by BIS Healthcare, titled ‘Global Emerging Cancer Diagnostics (Tumor Biomarker Test) Market Analysis & Forecast 2016-2023’, the global emerging cancer diagnostics market is expected to rise at a CAGR of 13.45% from 2016 to 2023, and will reach $6.34 billion by 2023. The increase in cancer patients’ numbers has pushed the research and development in the cancer diagnostics market, and with the advancing technology and increasing adoption of biomarker tests, the global market is set to surge with a substantial rate.

The global cancer diagnostics market has been categorized in the report on the basis of test types, viz. HER2Test, PSA Tests, CA Tests, ALK Tests and BRCA Tests. Of these tests, HER2Test dominates the market, followed by PSA Tests. The report has divided the market into different geographical regions, namely North America, Europe, Asia-Pacific and Rest of the World (RoW), in terms of revenue generation and estimates the growth of the market.

The emerging cancer diagnostics market is dynamic and moving towards development with the help of government funding, especially to develop non-invasive solutions, and to integrate smart technologies to meet the needs of the patients. Governments have also issued rules and regulations which play a major role in the development of this market. The research report includes a section in which these rules and regulations, as well as consortiums, have been analysed.

Some of the key market players in the emerging cancer diagnostics market are concentrating on the development of more sound and synchronized medication management technology, while others are engaged in innovation of systems in medicare to provide free tests to the patients. In 2015, around 15 million people were estimated to be suffering from cancer, which is estimated to get doubled by the end of 2030. In such a scenario, developing new methods and technology to provide medicare at lowest rate to the patient becomes important.

This research study is a combination comprehensive analysis and market insights into the emerging cancer diagnostics market, developing an extensive account of the market by test type, applications, and geography. The report provides an in-depth analysis of the key driving and restraining forces in the market, as well as analyzes the key market players and the strategies that they are following which helped in predicting the market outlook in the future. Besides these sections, the report has covered prevalent cancer types and their prevalence rate to provide an idea of the scope of the market.

Some of the companies analysed in the report are:

  • Abbott Laboratories
  • Agilent Technologies
  • AstraZeneca
  • Becton Dickinson & Co.
  • Biocept Inc.
  • Cancer Genetics Inc.
  • Danaher Corporation
  • Foundation Medicine Inc.
  • Illumina Inc.
  • LabCorp of America Holdings
  • Luminex Corporation
  • Myriad Genetics Inc.
  • NanoString Technologies Inc.

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