BONE Cancer Diagnosis Market Size, Share, Industry, Forecast and outlook (2024-2031)

Bone Cancer Diagnosis Market is Segmented By Cancer Type (Osteosarcoma, Chondrosarcoma, Ewing sarcoma, Chordoma, Others), By Diagnosis Type (MRI, CT, X-ray, Bone Scan, Biopsy), By End-User (Hospitals, Diagnsotic Centers, Cancer Research Centers, Others) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Bone Cancer Diagnosis Market Size

Global Bone Cancer Diagnosis Market reached US$ 1.2 billion in 2023 and is expected to reach US$ 1.7 billion by 2031, growing at a CAGR of 4.6% during the forecast period 2024-2031.

Bone cancer diagnosis often involves imaging tests to look at the affected bone. Bone cancer can be one of several different cancers that develop in the bones. Cancers that begin in the bone are called primary bone cancers. Tumors that begin in organs or other parts of the body can also spread to the bones.

The pelvis, long bones in the arms and legs are the most usually affected. Bone cancer is extremely rare, accounting for less than 1% of all cancers. 

Bone Cancer Diagnosis Market Scope

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Bone Cancer Diagnosis Market Dynamics

Rising Technological Advancements  

Advancements in imaging modalities, including positron emission tomography (PET), magnetic resonance imaging (MRI), and computed tomography (CT), have greatly enhanced the ability to visualize and characterize bone cancers. Owing to these developments, medical professionals can identify more precisely benign and malignant tumors, identify tiny lesions, and gauge the extent of malignancies.

Advances in molecular diagnostic methods, such as polymerase chain reaction (PCR) and next-generation sequencing (NGS), provide comprehensive genetic profiling of bone cancers. By assisting in the identification of certain genetic abnormalities and biomarkers linked to various forms of bone malignancies, these technologies help to improve prognosis accuracy and tailor treatment plans. Thus, advancements in bone cancer diagnosis is expected to drive the market growth.

High Cost of Diagnostic Tests 

High expenses may limit patients' access to bone cancer diagnostic tests, especially if they lack sufficient insurance coverage or reside in an area with poor healthcare facilities. For some individuals, this may result in delays in receiving a diagnosis and inequities in healthcare access. This is expected to hamper the market growth. 

Bone Cancer Diagnosis Market Segment Analysis

The global bone cancer diagnosis market is segmented based on cancer type, diagnosis type, end-user and region.

MRI segment is expected to dominate the market share 

MRI is the best method for local staging of bone malignancies because of its excellent evaluation of bone marrow. It provides a realistic representation of bone marrow and soft tissue involvement. MRI can detect specific tissue components that are important for the characterization of a bone lesion using a variety of approaches. 

Because many of these cancers are treated before surgery, MRI can monitor post-chemotherapy alterations using customized sequences. New and more sophisticated methodologies using fast and ultrafast MRI are being tested to improve the accuracy of therapy response assessment. 

Bone Cancer Diagnosis Market Geographical Share

North America is expected to hold a significant position in the bone cancer diagnosis market share

The increasing incidence of bone cancer and companies launching new devices for cancer diagnosis is expected to increase this region's market growth. The advancements in the diagnosis devices by the market players in the region for the early detection of the cancers also plays a vital role in driving the region’s market growth. 

For instance, according to The University of Texas MD Anderson Cancer Center, it is estimated that about 1,000 people in the United States are diagnosed with osteosarcoma each year. It begins in bone cells, usually in the pelvis, arms or legs, especially the area around the knee.

Additionally, American Cancer Society in 2024 estimated that about 3,970 new cases will be diagnosed in 2024. This increasing incidence of bone cancer is expected to increase demand for the diagnosis of the condition and also to observe the progress of the cancer. Thus, the above factors are expected to hold the region in the dominant position.

Market Major Players

The major global players in the market include Siemens Healthineers, Koninklijke Philips N.V., GE Healthcare, FUJIFILM Healthcare, Hologic Inc., Toshiba Corporation, Shimadzu Corporation, CANON MEDICAL SYSTEMS CORPORATION, Prenuvo, Inc., SternMed GmbH among others.

Why Purchase the Report?

• To visualize the global bone cancer diagnosis market segmentation based on cancer type, diagnosis type, end-user, and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of bone cancer diagnosis market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global bone cancer diagnosis market report would provide approximately 53 tables, 47 figures, and 176 pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies