Cancer is a collection of different diseases that are caused by various genetic malfunctions. Cancer results from uncontrolled growth of cells of various organs and tissues. There are more than 100 different types of cancer, and each cancer type is classified based on the type of cell that gets initially affected. Cancer harms the patients when damaged cells split uncontrollably to form masses or lumps of tissue. These masses are called as tumors. Tumors can easily grow and interfere with the nervous, digestive, and circulatory systems. Tumor cells release hormones that are efficient in altering body functions. Tumors that stay in one spot and demonstrate limited growth are generally considered to be benign tumors. Benign tumor is not harmful but when it grows and form malignant tumor, become fatal to body.
Malignant tumor is harmful and can affect patient’s body via two ways:
- Cancerous cells travel throughout the body via lymph or blood circulating systems, and destroying healthy tissue. This phenomenon is known as invasion.
- Cancerous cells may also proliferate, making new blood vessels to feed them. This phenomenon is known as angiogenesis
When tumor cells spread successfully to other parts of the body and destroying healthy tissues, it is said to have metastasized.
Cancer can be diagnosed via various in-vitro cancer tests that include immunoassay, immunohistochemistry, clinical chemistry and nucleic acid tests (NAT). In 2013, market for immunoassay tests accounted for the largest share by revenue owing to their popularity in the market. However, during the forecast period 2014 to 2020, nucleic acid tests (NAT) market is poised to grow at the highest CAGR. This is due to the fact that nucleic acid tests (NAT) is efficient in diagnosing cancer precisely and in less time. In addition, various research and development for nucleic acid tests will further accentuate the growth of NAT market during the forecast period.
The market for in-vitro cancer diagnostics is expected to grow at a significant CAGR from 2014 to 2020. This growth is attributed to rise in number of patients suffering from one or other type of cancer across the globe. It has been stated by the National Cancer Institute (NCI) that colon cancer is amongst the second largest cause of cancer death and is third most diagnosed cancer in the U.S. The American Cancer Society (ACS) has estimated that nearly 136,830 people are expected to be diagnosed with colon cancer by the end of 2014 in the U.S. and around 50,310 people will die by the end of the same year in the U.S. Likewise, the Centers for Disease Control and Prevention (CDC) has estimated that the number of death due to cancer will grow by about 80% by 2030. Similarly, increasing research and development initiatives by various companies for developing in vitro cancer diagnosing tests throughout the globe will further propel the growth of in vitro cancer diagnostics. In addition, entrance of large number of players for developing in vitro cancer diagnostics will further drive the growth of this market during the forecast period 2014 to 2020.
Some of the major players operating in the market include Abbott Laboratories, Beckman Coulter, Inc. Companion Dx, Epigenomics AG, ExiQon, Merck KGaA,, Randox Laboratories, Siemens Healthcare, VEDALAB, Sysmex Corporation, Signature Diagnostics, R-Biopharm AG, MDx Health Quest Diagnostics, Alere and Kyowa Medex Co., Ltd. among other significant players.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
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