cancer diagnostics market is growing due to an increase in the prevalence of various types of cancer, such as breast cancer and lung cancer globally

Dallas, Texas, United States, Oct. 26, 2021 (GLOBE NEWSWIRE) -- Global Cancer Diagnostics Market Research Report by Diagnostic Type (Diagnostic Imaging Tests, Biopsy and Cytology Tests, Tumor Biomarkers, and Others), by Application (Breast Cancer, Lung Cancer, Cervical Cancer, Kidney Cancer, Pancreatic Cancer, and Others), by Region (Americas, Asia-Pacific, and Europe, Middle East & Africa) - Global Forecast to 2027 - Cumulative Impact of COVID-19

Global Cancer Diagnostics market size is projected to grow from USD 168,600.04 million in 2020 to USD 280,590.21 million by 2027, at a CAGR of 6.9%.

The cancer diagnostics market is growing due to an increase in the prevalence of various types of cancer, such as breast cancer and lung cancer globally. Furthermore, during the projection period, the cancer diagnostics sector will benefit from a surge in technical breakthroughs that help in improved imaging of cancerous cells, improvements in equipment to detect the kind of cancer, and an increase in the efficiency of the results.

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Key Players

The key players profiled in Cancer Diagnostics market analysis include Becton, Dickinson and Company, GE Healthcare, Abbott, Roche, Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., Illumina, Inc., Siemens Healthcare, and C.R. Bard, Inc.

Market Segmentation Analysis

Based on the Diagnostic Type, the market is segmented into Diagnostic Imaging Tests, Biopsy and Cytology Tests, Tumor Biomarkers, and Others. Diagnostic Imaging Tests segment has largest market share during the forecast period.

Based on the Application, the market is segmented into Breast Cancer, Lung Cancer, Cervical Cancer, Kidney Cancer, Pancreatic Cancer, and Others. Breast cancer segment has largest market share during the forecast period.

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COVID-19 Impact on the Cancer Diagnostics Market

The World Health Organization (WHO) classified the COVID-19 outbreak a public health emergency of worldwide concern on January 30th, 2020. Around 210 countries have been affected by COVID-19.

Government rules, a nationwide lockdown, and a spike in infection rates across countries all had a significant financial impact on neurology hospitals and clinics. Several hospitals and clinics have seen a decrease in patient visits as a result of COVID-19, resulting in reduced client engagement. Furthermore, the COVID-19 situation has caused numerous cancer tests to be delayed.

Regional Analysis

Based on Region, the market was studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. North America is expected to have the largest revenue share. Factors such as rising cancer incidence and technological improvement can be blamed for North America's big proportion.

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