PRwire360
30 Sep 2022, 21:28 GMT+10
Rising global prevalence of cancer and increasing number of private diagnostic centers are some major factors driving market revenue growth
Market size - USD 5,187.83 Million in 2021, Market Growth - CAGR of 16.1%, Market Trends - Increasing number of research initiatives for developing molecular diagnostic kits for cancer
New York, September 30, 2022 - The global cancer test kits market size is expected to reach USD 19,557.13 Million in 2030 and register a revenue CAGR of 16.1%, according to the latest report by Reports and Data. Some key factors such as the rising global prevalence of cancer and increasing number of private diagnostic centers are factors driving global market revenue growth.
Cancer test kits are widely used for determining the presence of cancer through detection of specific tumor markers, cells, or mutations in the genome of the patient. The kits use biochemical, immunoassay, and molecular biology-based tests to diagnose cancer in patients. According to the American Cancer Society, around 3% of the total cancers diagnosed annually are pancreatic cancer, yet the death rate is close to 7%, due to a lack of early diagnostic platforms and facilities. The development of different tests that can provide early diagnosis in case the patient has a history of the disease is expected to increase the demand for test kits in hospitals, diagnostic labs, and other medical centers. Rising number of diagnostic centers due to rapid urbanization is another factor contributing to revenue growth of the global cancer test kits market between 2022 and 2030.
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Some Key Highlights from the Report:
For this study, Reports and Data has segmented the global cancer test kits market based on test type, type, technology, application, distribution, end-user, and region:
Test Type Outlook (Revenue, USD Million, 2019 - 2030)
Type Outlook (Revenue, USD Million, 2019 - 2030)
Technology Outlook (Revenue, USD Million, 2019 - 2030)
Application Outlook (Revenue, USD Million, 2019 - 2030)
Distribution Channel Outlook (Revenue, USD Million, 2019 - 2030)
End-User Outlook (Revenue, USD Million, 2019 - 2030)
Regional Outlook (Revenue, USD Million, 2019 -2030)
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