The global cancer diagnostics market is expected to reach USD 232.7 billion by 2025, according to a new report by Grand View Research, Inc. Continual introduction of innovative products coupled with increasing need for early diagnosis of the disease is the prime factor driving the market growth. In addition, rapid growth of the sector is attributed to the penetration of technologically advanced laboratory systems that have improved oncological screening in yielding accurate outcomes. Rising incidence of cancer is triggering the demand for these screening tests and imaging modalities that are used for monitoring disease progression.
Collaborative and independent initiatives led by governments and companies are striving to raise cognizance about the benefits of early diagnosis of the disease. In addition, cancer research organizations along with public and private entities are investing heavily on research projects to launch advanced diagnostic tools in the market, which are capable of diagnosing the disease way before the symptoms appear.
Furthermore, giant players are collaborating with governments and other agencies to enhance patient accessibility of their products. For instance, Illumina, Inc. launched a new venture named GRAIL with investors, Jeff Bezos and Bill Gates, with an investment of more than $100 million. GRAIL is mainly focused on blood-based oncological screening for timely diagnosis of the most common tumor types through simple laboratory tests.
Full Research Report On Cancer Diagnostics Market Analysis: www.grandviewresearch.com/industry-analysis/cancer-diagnostics-market
China cancer diagnostics market, by screening type, 2014 – 2025 (USD Billion)
Further Key Findings from the Study Suggest:
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Global cancer diagnostics market, by application, 2016 (%)
Grand View Research has segmented the cancer diagnostics market by screening type, application, and region:
Cancer Diagnostics Screening Type Outlook (Revenue, USD Billion; 2014 – 2025)
Cancer Diagnostics Application Outlook (Revenue, USD Billion; 2014 – 2025)
Cancer Diagnostics Regional Outlook (Revenue, USD Billion; 2014 – 2025)
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