Cancer Diagnostics Market

Cancer Diagnostics Market: Biopsy Test Type Segment Expected to Remain Dominant Throughout the Forecast Period: Global Industry Analysis and Opportunity Assessment 2016 - 2026

Biopsy is expected to remain the most lucrative cancer diagnostics test due to technological advancements such as fine needle aspiration

The biopsy test type segment dominated the global cancer diagnostics market in revenue terms in 2016, and the trend is projected to continue throughout the forecast period. Biopsy is the largest segment, which was valued at more than US$ 11 Bn in 2016 and is expected to expand at a CAGR of 7.4% over the forecast period. The liquid biopsy test type segment is expected to register fastest Y-o-Y growth throughout the forecast period. Even though liquid biopsy is becoming more popular due to its non-invasive nature, to obtain an accurate diagnosis, solid tumour biopsies or tissue biopsies are still preferred.

Despite the headwinds of regulatory uncertainties, diagnostic companies continue to invest in high dollar molecular diagnostic tests for cancer research

To purchase test reagents, a majority of diagnostic companies place these instruments in diagnostic and research laboratories through reagent rental contracts in exchange for long-term contracts, as tests can only be run in laboratories possessing instruments for which the test is developed and approved. Moreover, newly developed tests for particular instruments need to be mass marketed to diagnostic laboratories, general practitioners, and health insurers. For instance, big players such as Roche Diagnostics, Abbott etc. license their cancer test products to regional geographical partners who either distribute these products in the region or develop reagent kits for their instruments. Addressing the huge needs in cancer diagnostics require the participation of established diagnostics industry players.

Changing competition landscape is the new trend that can be seen in the global cancer diagnostics market. Although molecular testing is a hotspot for investment in vitro diagnostic, the market shows delayed growth due to slow returns on investment. In spite of this, all big diagnostic players in the global market are continuously investing in cancer diagnostics including molecular biomarker testing, NGS, PET scanners etc. Companies are also investing in automation of existing molecular assays to foster future growth prospects. The majority of cancer diagnostic players are adopting inorganic growth strategies to sustain the increasing competitive pressure. Companies in the global market are actively engaged in mergers and acquisitions, as the industry is in its growth phase because of continuous technology upgrades and launch of novel blood tests to detect cancer. Key players in the liquid biopsy industry have started taking strategic decisions to engage in mergers and acquisitions to strengthen their product portfolio and increase their brand share in the market.

Change in regulatory policies is reflecting in the change of approach towards cancer diagnostics. Due to automation of laboratory testing methods, traditional methods have been replaced by high-volume models and tests have become commoditised.

Regional forecast of the test type segment

The biopsy test type segment dominated the North America cancer diagnostics market in terms of revenue in 2015 and is projected to continue to do so throughout the forecast period. Biopsy is expected to be the most lucrative segment in the North America cancer diagnostics market, with a market attractiveness index of 2.9. Steady advances in the field of bone marrow biopsy in the last few years have facilitated the accurate diagnosis of complex indications such as Hodgkin's lymphoma, lymphoplasmacytic lymphoma and other cancers of lymph and vascular systems. The biopsy segment is expected to be the most lucrative test type segment in the Western Europe cancer diagnostics market, with a market attractiveness index of 3.2. New developments in fine needle aspiration tools for diagnosis of different cancer indications including lung cancers, head and neck cancers and advanced breast cancer among others has led to an increased demand for tissue biopsy. Further, majority of lung cancers are diagnosed at a late stage where fine needle aspiration biopsy is the only possible test done to confirm the presence of cancer.

The analysts of Future Market Insights have focussed on various segments of the global cancer diagnostics market and have observed that hospital-associated laboratories accounted for the highest market share in 2015 and are likely to remain dominant during the next decade. Independent diagnostics laboratories would represent fastest growth opportunities due to increasing demand for diagnostics imaging. The analysts have also covered the various regions while inspecting the global cancer diagnostics market and have observed that North America represents the most lucrative market, followed by Europe and APAC. It has been noted that the Asia Pacific region holds highest growth opportunity due to increasing spending on cancer diagnosis and treatment, especially in China and India.

In a new report titled “Cancer Diagnostics Market: Global Industry Analysis and Opportunity Assessment 2016–2026,” our analysts have considered important developments in the global cancer diagnostics market such as the rapid pace of cancer research and continuous product approvals for cancer diagnostics, which is projected to drive the growth of the global cancer diagnostics market. Furthermore, lung cancer diagnostics is anticipated to be a highly opportunistic segment for revenue generation due to the substantial increase in lung cancer cases in all parts of the globe. The report also highlights the key growth strategies such as collaborations and mergers and acquisitions adopted by the leading players operating in the global cancer diagnostics market.

Research Methodology

Macro-economic indicators such as healthcare industry outlook, healthcare spending and Gross Domestic Product have been considered to arrive at the indicated market numbers. We have not considered the yearly change in inflation rate while forecasting market numbers. Bottom-up approach has been used to assess market numbers, while top-down approach has been used to counter-validate the market estimations. Our analysts have performed systematic and exhaustive secondary research to analyse the required data points to arrive at the overall market numbers. Future Market Insights has developed extensive questionnaires for each node in the value chain to extract the required market information through key stakeholder interviews. Data thus acquired is then validated using the triangulation method, wherein secondary and primary research and Future Market Insights analysis contributes to the final data interpretation.

Porter’s Analysis – An important component of our research methodology

Porter’s Analysis forms an important part of our research on the global cancer diagnostics market. Some of our findings based on Porter’s Analysis are as follows –

  • Top players in the global cancer diagnostics industry manufacture their own products

  • Leading industry players have minimised the extent of buyer power by creating high switching costs for their customers

  • Lack of effective, specific and sensitive cancer diagnostics implies absolutely no threat of substitutes

  • Government funding to universities and research institutes prevents windfall profits for private players

  • One of the key attributes of the cancer diagnostics industry is that it creates a favourable environment for competitors as there are a number of unique customer segments within the industry that demand a particular type of product

  • Next generation cancer diagnostics will use patented technologies

  • Multiple pathways are currently being targeted so competition will increase in future 

Report Structure

We have provided our clients with primary verbatim inputs from key industry stakeholders so it is easy for them to get a clear picture of how the process of cancer biomarker development is responsible for a gap between biomarker discovery studies and their clinical translation. We have also provided detailed information about cancer epidemiology in various regions and our research indicates that the MEA region has the highest cancer mortality rate due to delayed diagnosis and treatment owing to lack of resources. We have also included the key industry developments from 1903 to 2008 in our report to present a clear picture of the development of the global cancer diagnostics market over the said period of time. The cancer diagnostics regulatory and reimbursement scenario has also been covered in this report, which is categorised into five levels – basic research, prototype design or discovery, preclinical development, clinical development Phase I, II and III and finally FDA filing/approval and launch preparation.

Global Cancer Diagnostics Market – Segmentation

By Test Type

By End User

By Indication

By Region

  • Tumour Biomarkers Tests

    • PSA Tests

    • CTC Tests

    • AFP Tests

    • CA-19 Tests

    • HER2 Tests

    • BRCA Tests

    • ALK Tests

    • CEA Tests

    • EGFR Mutation Tests

    • KRAS Mutation Tests

    • Others

  • Imaging

    • Ultrasound

    • Mammography

    • MRI Scan

    • PET Scan

    • CT Scan

    • SPECT & Others

  • Biopsy

    • Needle Biopsy

    • Endoscopic Biopsy

    • Bone Marrow Biopsy

    • Others

  • Liquid Biopsy

  • Immunohistochemistry

  • In Situ Hybridisation

  • Hospital Associated Labs

  • Independent Diagnostic Laboratories

  • Diagnostic Imaging Centres

  • Cancer Research Institutes

  • Others

  • Breast Cancer

  • Lung Cancer

  • Colorectal Cancer

  • Melanoma

  • Blood Cancer

  • Prostate Cancer

  • Ovarian Cancer

  • Stomach Cancer

  • Liver Cancer

  • Others

  • North America

  • Latin America

  • Western Europe

  • Eastern Europe

  • APEJ

  • Japan

  • MEA