Cancer Screening Devices Market: Introduction
Cancer screening is a process where different methods are used to detect whether a person is suffering from cancer. Numerous screening methods can be employed to determine whether a person is suffering from cancer. Screening plays an essential role in the detection of cancer and boosting the chances of survival of patients, thereby reducing the number of deaths caused by cancer. Screening also confirms that the particular type of cancer that is identified before the appearance of actual symptoms and progression of cancer, which is likely to follow several stages such as cancer initiation, progression, differentiation, and malignancy. This helps in the early detection of cancer symptoms and preventing them from recurring with enhanced survival rate of patients. It also helps reduce the number of deaths caused by cancer and the post treatment side-effects of cancer that are quite serious and can prove fatal such as hair loss, fatigue, and weaknesses in the muscle, chronic pain, and heart issues. Early diagnosis can lead to better treatment and a greater lifespan of patients.
Key Drivers and Restraints of Cancer Screening Devices Market
- Rise in the number of oncogenic cases and their prevalent recurrence over a period of time is a major factor boosting the cancer screening device market
- Early detection of cancer in patients, if present along with implementation of different technological advancements such as artificial intelligence, robotics, and machine learning approaches, has made detection quite easy, thus preventing it from further development. This is also a key factor driving the cancer screening devices market.
- False positive and reassurance results have been rarely observed, which is estimated to hamper the cancer screening market. Furthermore, high cost, lack of awareness about cancer screening among people, and lack of trained working professionals pose major challenges that are projected to hinder the cancer screening market.
Imaging segment dominates the cancer screening devices market
- Based on type, the cancer screening devices market can be divided into laboratory tests, genetic tests, imaging, endoscopy, and biopsy
- Imaging techniques such as Computed Tomography (CT) scan and Magnetic Resonance Imaging (MRI) have dominated the market due to the accuracy of results they produce, less time consumption, and non-invasive and pain free approach
Breast cancer segment holds significant market share
- Based on application, the global cancer screening devices market can be segmented into breast, colorectal, ovarian, oral, skin, blood, kidney, and others.
- Breast cancer accounted for a significant share of the market share due to a rise in the number of breast cancer cases and its high prevalence (mostly between 50 and 74) and some above 40 years in females. This, in turn, is also estimated to propel the cancer screening devices market.
North America is estimated to dominate the Cancer Screening Devices Market
- In terms of region, the global cancer screening devices market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA)
- North America leads the global cancer screening market and accounted for a notable share, in terms of revenue. Major factors that drive North America to dominate the global cancer screening device markets are presence of highly trained professionals, use of numerous biotechnological approaches, funding by governments and investments by large corporates in the region.
Key Manufacturers Operating in Market:
Top players who play an important role in the expansion of the global cancer screening devices market include:
- GE Healthcare
- F. Hoffmann-La Roche Ltd
- Siemens Healthcare GmbH.
- Becton, Dickinson & Company
- Illumina, Inc.
- Koninklijke Philips N.V
- Hologic, Inc
Cancer Screening Devices: Research Scope
Cancer Screening Devices Market, by Type
- Laboratory Tests
- blood test,
- tumor marker test,
- complete blood count,
- blood protein test
- Genetic Tests:
- Stool DNA tests.
- CT SCAN
Cancer Screening Devices Market, by Application
- Breast Cancer
- Colorectal Cancer
- Cervical Cancer
- Lung Cancer
- Prostate Cancer
- Skin Cancer
- Blood Cancer
- Kidney Cancer
- Liver Cancer
Cancer Screening Devices by Region
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.