In-vitro Cancer Diagnostic Market is segmented By Product Type (Reagents, Instruments, Others), By Technique Type (Molecular Diagnostics, Clinical chemistry, Point-Of-Care, Others), By End-User (Hospital associated labs, Cancer research institutes, Diagnostic imaging centers, Others), By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030.
In-vitro Cancer Diagnostic Market
In-vitro Cancer Diagnostics Market size was worth US$ YY billion in 2020 and is estimated to reach US$ YY billion by 2029, growing at a CAGR of 3.9% during the forecast period (2023-2030).
Cancer is an uncontrolled proliferation of cells, leading to tumor formation, which can interfere with the digestive, nervous, and circulatory systems. Tumor cell releases hormones that alter body functions. Tumors that stay in one location and show limited growth are considered benign cancer. Simultaneously, the cancerous cell that flows throughout the body part, using lymph, blood, and destroying the healthy tissue, is called malignant cancer. In-vitro cancer diagnostics is a technique in which the reagents and medical devices are employed to examine specimens such as body fluids, tissues, stool, urine, and blood. These specimens are derived from the human body to diagnose and detect infections, conditions, and diseases. These tests can be performed in point-of-care units, hospital-based laboratories, and stand-alone laboratories. Researchers and doctors are being impelled to focus on personalized medicines from the conventional diagnostic methods owing to the continuous innovations in the technology and design of in-vitro cancer diagnostics products.
In-vitro Cancer Diagnostic Market
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Metrics |
Details |
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Market CAGR |
3.9% |
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Segments Covered |
By Product Type, By Technique Type, By End-User, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
In-vitro Cancer Diagnostic Market Dynamics
The global In-vitro Cancer Diagnostic market growth is driven by the growing incidence of chronic and infectious diseases, increasing aging population, increasing demand for preventive medicines and companion diagnostics, and favorable government initiatives are among the key factors driving the market growth.
Increasing usage of Point-Of-Care (POC) and Technological advancements in IVD tools, is expected to drive the market growth.
Increasing usage and demand for POC devices are driving the market growth. Additionally, the introduction of advanced technologies, such as biochips and nano-technology and the miniaturization of microfluidic tools, increases the demand for POC devices. These advanced techniques accounted for easy access to point-of-care diagnostics tests and quick, accurate test results, increasing the demand for the In-vitro cancer diagnostics market. For instance, On April 11, 2019, to fight against cancer, Sophia genetics announced the CE-IVD marking of its solid tumors solution (STS), which is used to detect different types of solid tumors such as lung, colorectal, skin, and brain cancers.
Increasing incidence of cancer cases, is expected to drive the global In-vitro cancer diagnostics market growth.
According to the World Health Organisation (WHO), Cancer is the second-most leading cause of death worldwide, accounting for over 18.1 million cases were diagnosed in 2018. The most common cancers occurring in the U.S include lung cancer, breast cancer, prostate cancer, colorectal Cancer, thyroid cancer, pancreatic Cancer, non-Hodgkin lymphoma, melanoma, renal pelvis cancer, kidney cancer and leukemia. In 2020, around 19 Mn new cancer cases were diagnosed across the world as per the WHO. Likewise, the American Cancer Society reported that 89,500 cases were diagnosed in the U.S. in 2020. This number has led to an increase in the adoption of In-vitro cancer diagnostics devices.
Operational conditions like storage and transportations hamper significant market growth.
The staggering developments in clinical laboratories are predicted to hamper the market growth in the forecast period. Moreover, the need for expertise in the technical operation of these systems, storage condition requirements and transportation costs are anticipated to hinder the market growth in the forecast period.
COVID-19 Impact Analysis
The COVID-19 pandemic has positive impact on in-vitro diagnostics, since there is a rasing demand for the IVD kits and reagents for the rapid and accurate diagnosis of SARS-CoV2 virus infection among the global population as in-vitro diagnostics involves testing of various biological samples. This is expected to aid the diagnosis of infectious diseases, such as COVID-19. As the number of COVID-19 cases is increasing across the world, governments of various countries are exploring the possibilities of allowing private laboratories to ramp up testing. For instance, in March 2020, Qiagen launched QIAstat-Dx test kit for detection of SARS-CoV-2 coronavirus in Europe, and in April 2020, Altona Diagnostics launched CE-IVD marked RealStar SARS-CoV-2 RT-PCR Kit 1.0, an in vitro diagnostic test, based on real-time PCR technology, for the qualitative detection of lineage B-beta coronavirus (lineage B-βCoV) and severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) specific RNA. Thus, the global COVID-19 pandemic is expected to have a positive impact on the growth of the studied market.
In-vitro Cancer Diagnostic Market Segment Analysis
Based on the Product Type, the global In-vitro Cancer Diagnostics market is segmented into Reagents and Kits, Instruments, Others.
Reagents and Kits segment accounts the largest market share among all the segments.
Reagents are playing a vital role in the In-vitro cancer diagnostics market. It includes chemical, biological, or immunological components, solutions, or preparations intended by the manufacturer to be used during the in-vitro diagnosis process. For instance, On November 9, 2019, Lexent Bio signed a partnership with Illumina, Inc. to develop a next-generation sequencing IVD kit to diagnose cancer.
Instruments
The instrument segment is expected grow slowly, advanced instruments and rapid testing tools are driving the segment. For instance, BioNTech Diagnostics GmbH develops and manufactures the biomarker-based in vitro diagnostic devices (IVDD) like MammaTyper for Invasive breast cancer is under clinical trials.
Based on Technique Type, the global In-vitro Cancer Diagnostics market is segmented into Molecular Diagnostics, Point-Of-Care, Clinical chemistry, Others.
Molecular Diagnostics accounts largest market share because this technology facilitates early detection of cancers by using genetic technologies that helps in detection of abnormalities in prenatal stage. For instance, Rosetta Genomics Ltd, launched OncoGxSelect, a next generation sequencing oncology panel. The new system enables detection of 5 types of genes which are associated with the lung cancer.
Clinical chemistry technology
The clinical chemistry technology segment is expected to show a significant growth rate in the coming years. The applications of this segment are the detection of fluctuations in hormone levels and the blood glucose levels estimation, which many people and hospitals very frequently use. The next segment which shows potential is the urinalysis due to an increase in kidney disorders and the need for constant tests, which is predicted to boost the overall segment in the forecast period. For example, In November 2019, Vidan Diagnostics launched β-Hydroxybutyrate 21FS Reagent for Beckman Coulter AU clinical chemistry systems.
Based on End-Users, the point of care testing will change the trend of hospital testing, and investors eye this segment.
The hospital segment accounted to grow hugely in the forecasting period. Hospitals with sophisticated high-end testing facilities, advanced infrastructure creating the primary revenue generator, and the point-of-care testing segment include pregnancy kits, glucose meters, cancer-detecting kits, and many more are predicted to boost the overall segment in the forecast period.
In-vitro Cancer Diagnostic Market Analysis
North America is expected to be the most leading regional market for in vitro cancer diagnostics during the forecast period, owing to its well-penetrated healthcare system and higher healthcare awareness among patients, change in technology and rebounding American Economy. Furthermore, other factors such as easy availability of devices, rise in awareness related to the use of these products, and the presence of many geriatric populations suffering from various chronic diseases also contribute to the growth of the market. Moreover, the presence of many key players in North America is another major factor that drives the in vitro diagnostics market growth.
The Asia-Pacific region is expected to be the fastest-growing region in the global neurodiagnostic Direct marketing initiatives by the manufacturers to consumers. It plays a crucial role in increasing the target audience and raising the market size in this region. Also, novel product launches by key players are contributing to the growth of the market.
In-vitro Cancer Diagnostic Market Competitive Landscape
The Global In-vitro Cancer Diagnostics Market is quite competitive with some key competitors like Abbott Laboratories, Becton, Dickinson and Company, bioMerieux SA, Bio-Rad Laboratories, Inc., Danaher Corporation (Beckman Coulter, Inc.), F. Hoffmann-La Roche AG, Siemens AG, QIAGEN N.V., Sysmex Corporation, and Thermo Fisher Scientific, Inc. The growth of these companies is attributed to product launch, acquisition of independent companies and investments in multiple sectors. For instance, In January 2020, Sysmex launched its novel device, Ipsogen JAK2 DX reagent, a gene testing kit for blood cancer. This product calculates the mutation quantitatively used in the diagnosis of hematopoietic (blood) tumors. This strategy made the firm expand its product offering, thereby supplementing its product portfolio.
Roche Inc.
Roche was founded in 1896 in Basel, Switzerland. It creates innovative medicines and diagnostic tests that help millions of patients globally. Roche was one of the first companies to bring targeted treatments to patients. With our combined strength in pharmaceuticals and diagnostics, we are better equipped than any other company to drive personalized healthcare further. Two-thirds of our Research and Development projects are being developed with companion diagnostics.
Product Portfolio: The company portfolio includes Oncology, Neurology, Endocrinology, Infectious diseases and others.
On November 27, 2018, the first automated invitro diagnostic VENTANA pan-TRK assay launched by Roche to detect Tropomyosin receptor kinase proteins in cancer.