A comprehensive overview of the Asia-Pacific cancer diagnostics market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Asia-Pacific cancer diagnostics markets. This report offers a detailed analysis of the latest industry developments and trending factors that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the market at regional and country levels. The Asia-Pacific cancer diagnostics market is likely to showcase a growth of around 9% growth during the forecast period (2022-2028).
Market Overview
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.
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COVID-19 Impact
The COVID-19 pandemic has dramatically affected healthcare services around Asia. During COVID-19, end-user industries such as diagnostic centers, clinics, hospitals, and others had to terminate their operations. Several countries enforced nationwide lockdowns as part of measures to limit the spread of the coronavirus, so the government limited the cancer diagnosis procedures. The COVID-pandemic has shown a significant impact on cancer care from early detection, and management plans to clinical outcomes of cancer patients. According to the National Institute of Health, in 2021, The Asian National Cancer Centres Alliance (ANCCA) put together the 9 “Ps” as guidelines for cancer programs to better prepare for the next pandemic. The 9 “Ps” are Priority, Protocols and Processes, Patients, People, Personal Protective Equipment’s (PPEs), Pharmaceuticals, Places, Preparedness, and Politics.
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The Asia-Pacific cancer diagnostics market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Application, the market is primarily bifurcated into:
· Blood Cancer
· Lung Cancer
· Colorectal Cancer
· Prostate Cancer
· Breast Cancer
· Cervical Cancer
· Others
Based on application, the market is categorized into blood cancer, lung cancer, colorectal cancer, prostate cancer, breast cancer, cervical cancer, and others. Among these, lung cancer is expected to witness the highest CAGR during the forecast period. The increase in the number of people suffering from cancer diseases such as lung cancer in turn is boosting the growth of Asia-Pacific cancer diagnostics. Furthermore, the rising preference for minimally invasive procedures, technological advancement, and increased focus of many industry players to launch new and innovative products are also some of the prominent factors contributing to the growth of the Asia-Pacific cancer diagnostics. These results boost the production of Asia-Pacific cancer diagnostics.
By Diagnostic Type, the market is primarily bifurcated into:
· Lab Testing
· Genetic Testing
· Imaging Testing
· Biomarkers Testing
· In Vitro Diagnostic Testing
· Biopsy
· Others
Based on diagnostic type, the market is categorized into lab testing, genetic testing, imaging testing, biomarkers testing, in vitro diagnostic testing, biopsy, and others. Among these, imaging testing is expected to witness the highest CAGR during the forecast period. X-rays, ultrasound, computed tomography, single-photon emission computed tomography (SPECT), magnetic resonance imaging (MRI), positron emission tomography (PET), and optical imaging are some of the imaging methods used to diagnose cancer. For diagnosing purposes, MRI and computed tomography scans are frequently employed. These examinations are quick, non-invasive, more effective, and a less painful way of diagnosis.
Asia-Pacific cancer diagnostics market Geographical Segmentation Includes:
· China
· Japan
· India
· Australia
· Rest of Asia-Pacific
For a better understanding of the market adoption of the Asia-Pacific cancer diagnostics industry, the market is analyzed based on its worldwide presence in the countries such as China, Japan, India, Australia, Rest of Asia-Pacific. China is expected to witness a considerable CAGR during the forecast period on account of the growing various Asia-Pacific cancer diagnostics and medical treatments activities in the region. In addition, the rising awareness regarding the benefits of cancer diagnosis is leading to greater adoption among healthcare professionals in the APAC region. 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). Furthermore, the increasing geriatric population and new product launches, and various developmental strategies adopted by the regional market will drive market growth.
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The major players targeting the market include:
· F. 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.
Competitive Landscape
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating in countries. The specialist team of research analysts sheds light on various traits such as Europe countries’ market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Asia-Pacific cancer diagnostics market. The major players have been analyzed by using research methodologies for getting insight views on market competition.
Key questions resolved through this analytical market research report include:
· What are the latest trends, new patterns, and technological advancements in the Asia-Pacific cancer diagnostics market?
· Which factors are influencing the Asia-Pacific cancer diagnostics market over the forecast period?
· What are the challenges, threats, and risks in the Asia-Pacific cancer diagnostics market?
· Which factors are propelling and restraining the Asia-Pacific cancer diagnostics market?
· What are the demanding regions of the Asia-Pacific cancer diagnostics market?
· What will be the market size in the upcoming years?
· What are the crucial market acquisition strategies and policies applied by the companies?
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