Cancer IVD Market Snapshot
“The Cancer IVD Market is estimated to increase at a CAGR of 5.98% from $ 20,000.78 Million in 2023 to $ 26198.56 Million by 2030.”
Cancer is a serious medical condition affecting millions of people worldwide, leading to millions more deaths. As a major global health risk, the demand for precise tests, precision medicine, and companion diagnostics for cancer treatment is increasing.
A recent analysis by World Market for Cancer Diagnostics suggests that the need for companion assays could contribute to the industry's estimated $5,535 million ($5.5 billion) valuation for Cancer IVD in 2021.
Medical devices like cancer IVD diagnose illnesses using tests and reagents, examining tissue samples and bodily fluids. In vitro diagnostic tools use various methodologies, including immunodiagnostics, tissue diagnostics, hematological, and molecular diagnostics.
Surgical staplers restore internal and external body tissues and physically alter biological tissue. Advancements in genomics and proteomics, along with increased funding in developing nations, are driving the development of condition-specific indicators and tests in the market.
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Key Points
- In 2022, North America held a significant dominance in the Cancer IVD market, accounting for 35.60% of the total market share.
- The market for cancer IVDs is anticipated to expand due to factors such as an aging population, increasing use of point-of-care diagnostics, and tailored treatment.
- The market for cancer IVDs is anticipated to expand due to factors such as an aging population, increasing use of point-of-care diagnostics, and tailored treatment.
Market Trends
The cancer IVD market is experiencing several key trends, including:
Pharmacogenetic testing is advancing due to the introduction of targeted and cytotoxic cancer medications and efforts to improve oncological therapy effectiveness and cost. Liquid biopsy methods will facilitate easier tumor cell extraction, supporting growth. Predictive tests are part of pharmacodiagnostic products.
However, molecular testing for personalized cancer treatment is still not complete. Each cancer has unique genetic aberrations linked to prognosis and treatment outcomes. Researchers are exploring next-generation DNA sequencing for a deeper genomic understanding of tumors.
- Liquid Biopsy-based Non-Invasive Cancer Molecular Diagnostics
Liquid biopsies, blood-based molecular tumor diagnostics, have gained interest in cancer detection, characterisation, and staging. Blood cells contain genomic DNA and hematological cancer indicators, which are tested using commercial assays like quantitative PCR kits and gene mutation and fusion detection kits.
It is expected that tests identifying mutations crucial for targeted therapy will dominate the liquid biopsy industry in the coming years.
- Circulating Tumor Cell (CTC) Tests
Flow cytometry, an IVD technology, is used in around 200,000 global procedures annually. Advances in liquid biopsy technologies are expected to increase the number of tumor cells available for analysis, leading to growth and less invasive advantages. The global demand for circulating tumor cell testing products is projected to rise by 6% annually through 2026.
Machine learning, or artificial intelligence, is increasingly being used in medicine to improve clinical scoring systems and algorithms. These algorithms use large sets of patient data to infer the optimal set of computations, unlike classical algorithms that require pre-programmed calculations.
AI is being used in new applications to predict outcomes like diagnosis, mortality, and readmission, enhance risk assessment instruments, and improve personalized medicine by forecasting patient reactions to treatment.
Growth Drivers
The cancer IVDs market is expected to grow due to rising cancer incidence and increased product approvals and launches. The global in-vitro diagnostics market is driven by autoimmune diseases and cancer.
The surgical electric staplers screening market is expected to expand due to the increasing number of product launches. Government agencies and regulatory bodies will also contribute to growth in this market.
Restraints
The global cancer in-vitro diagnostics market faces challenges due to a lack of trained personnel, price variations in lab products, government regulations for new products, and lack of standardization, which hinder growth in the market. These factors, along with price variations, contribute to the market's inefficiency and hinder its overall growth.
Cancer IVD Market Segment Analysis
By Product & Services
In 2022, the reagents segment in the Cancer IVD market generated the highest revenue due to the need for sensitive, quick, and accurate equipment. The market is expected to expand due to widespread use in in vitro cancer diagnostic testing, rising demand for point-of-care devices, and increased R&D projects.
The services segment is projected to grow at a 6.2% CAGR from 2023-2030 due to the growth of various programming interfaces used in cancer diagnostic instruments, analysis, and interpretation. In vitro diagnostic software is utilized by various tools, including portable personal in vitro diagnostics, laboratory-based analyzers, and point-of-care analyzers.
By End Users
In 2022, hospitals accounted for the highest segmental revenue in the Cancer IVD market due to rising hospitalization rates and the need for diagnostic interpretation for additional cancer therapy.
Collaboration between hospitals and diagnostic institutions and anticipated expansion of healthcare infrastructure are contributing to the growth of hospital in-vitro diagnostic test sales for cancer.
Competitive Landscape of the Cancer IVD Market Analysis
New Developments in Cancer IVD Market
Oct 25, 2023- Abbott PCR Test Gets FDA Approval as CDx for Servier's Tibsovo for Rare Blood Cancer
NEW YORK – Abbott's RealTime IDH1 Assay has received approval from the US Food and Drug Administration as a companion diagnostic for Servier Pharmaceuticals' Tibsovo (ivosidenib) in patients with relapsed or refractory myelodysplastic syndrome, the FDA announced on Tuesday.
The PCR-based test is intended to select patients with isocitrate dehydrogenase-1 mutations for treatment. Tibsovo is the first targeted therapy approved for this indication, the FDA said in a statement, adding that about 3.6 percent of patients with myelodysplastic syndrome have an IDH1 mutation.
July 17, 2023- Johnson & Johnson sues researchers who linked talc to cancer
J&J is facing more than 38,000 lawsuits alleging that the company's talc products, including its Baby Powder, were contaminated by asbestos and caused cancers including ovarian cancer and mesothelioma.
19 Jul 2023- Johnson & Johnson ordered to pay $18.8 million in California Talc-Cancer trial. Details here
Johnson & Johnson has been ordered to pay $18.8 million to a California man who claimed that the company's talcum-based powders caused his cancer. This trial was the first in nearly two years over allegations that J&J concealed the health risks of its iconic baby powder.
Regional Analysis of Global Cancer IVD Industry
North America dominates the Cancer IVD market with a 34.67% market share in 2022. This is due to increased surgeries, modern technologies, global companies, FDA approval, and unique in-vitro diagnostic procedures.
The region's local presence and FDA approval have stimulated the market. Surgeons are now required to learn about these devices, promoting regional market expansion. The growing demand for advanced cancer treatments in North America is driving this growth.
Asia-Pacific is predicted to experience the fastest growth between 2023 and 2030 due to the high prevalence of chronic diseases, rising healthcare awareness, and early diagnosis of patients. The region's better regulatory environment and increasing affordability are expected to drive the market.
Segments Covered in the Cancer IVD Market Report
Segment by Product and Services
- Reagents and Kits
- Instruments
- Data Management Software
- Services
Segment by Technology
- Clinical Chemistry
- Immunochemistry/Immunoassays
- Hematology
- Coagulation and Hemostasis
- Microbiology
- Molecular Diagnostics
- Others
Segment by End-Users
- Hospitals
- Laboratories
- Academics
- Point-Of-Care Testing
- Patient Self-Testing
- and Others.
Market by Region
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
Frequently Asked Questions
What is the expected growth rate of the Cancer IVD market over the next 7 years?
The Cancer IVD Market is estimated to increase at a CAGR of 5.98% from $ 20,000.78 Million in 2023 to $ 26198.56 Million by 2030.
Who are the major players in the Cancer IVD market and what is their market share?
Abbott Laboratories, Johnson and Johnson, Siemens Healthcare, Becton Dickinson, Roche Diagnostics, and Beckman Coulter Inc, are prominent players operating and dominating in the market.
Who are the top 3 Cancer IVD Market Key Vendors?
Abbott Laboratories, Johnson and Johnson, Siemens Healthcare, are key players in the Cancer IVD market.
Which geographical areas dominate the worldwide market for Cancer IVD?
North America region are emerging as the top regional markets for Cancer IVD solutions.
1.SUMMARY
1.1. Cancer IVD Market Overview
1.2. Key Insights
1.3. Report Scope
1.4. Research Methodology
1.5. Frequently Asked Questions
1.6. Chapter Outlines
- DECISION-MAKING SUMMARY
- INTRODUCTION
3.1. Overview of Cancer IVD
3.2. Key Historical Events
3.3. Structure
3.4. Biochemical Interaction
3.5. Target Indications
3.6. Advantages of Cancer IVD
3.7 Challenges associated with Cancer IVD
3.8. Future Perspectives.
- MARKET LANDSCAPE
4.1. Methodology
4.2 Cancer IVD: Developer Landscape
4.2.1. Analysis by Year of Establishment
4.2.2. Analysis by Company Size
4.2.3. Analysis by Location of Headquarters (Region-wise)
4.2.4. Analysis by Location of Headquarters (Country-wise)
4.2.5. Analysis by Year of Establishment, Company Size and Location of Headquarters (Region-wise)
4.2.6. Most Active Players
- COMPANY
5.1. Company Overview
5.1.2 Management Team
5.1.3. Product Portfolio
5.1.4. Recent Developments and Future Outlook
- PARTNERSHIPS AND COLLABORATIONS
6.1. Partnership Models
6.2. Cancer IVD: Partnerships and Collaborations
6.2.1. Analysis by Year of Partnership
6.2.2. Analysis by Type of Partnership
6.2.3. Analysis by Year and Type of Partnership
6.2.4. Analysis by Type of Partner
6.2.5. Analysis by Year of Partnership and Type of Partner
6.2.6. Analysis by Type of Partnership and Type of Partner
6.2.7. Analysis by Type of Partner and Parent Company Size
- ACADEMIC GRANTS ANALYSIS
7.1. Methodology and Key Parameters
7.2. Cancer IVD: Academic Grants Analysis
7.2.1. Analysis by Year of Grant Award
7.2.2. Analysis by Amount Awarded
7.2.3. Analysis by Funding Institute Center
7.2.4. Analysis by Support Period
7.2.5. Analysis by Funding Institute Center and Support Period
7.2.6. Analysis by Type of Grant Application
7.2.7. Analysis by Purpose of Grant
- PUBLICATION ANALYSIS
8.1. Analysis Methodology and Key Parameters
8.2. Cancer IVD: Publication Analysis
8.2.1. Analysis by Year of Publication
8.2.2. Analysis by Type of Publication
8.2.3. Analysis by Type of Conjugate
8.2.4. Analysis by Target Indication
8.2.5. Analysis by Copyright Holder
8.2.6. Word Cloud: Emerging Focus Area
8.2.7. Most Active Publishers: Analysis by Number of Publications
- SUCCESS PROTOCOL ANALYSIS
9.1. Methodology and Key Parameters
9.2. Key Assumptions and Scoring Criteria
9.3. Success Protocol Analysis
9.4. Assessment of Approved Cancer IVD
- Appendix 1: Tabulated Data
- Appendix 2: List of Companies
- Abbott Laboratories
- Johnson and Johnson
- Siemens Healthcare
- Becton Dickinson
- Roche Diagnostics
- Beckman Coulter Inc
