The market research report outlines the market size and forecast of the cancer testing market in the US and segmentation by technique, including genetic testing and conventional testing. The report discusses the major drivers influencing market growth and the challenges faced by the vendors and the market as a whole. The top vendors evaluated in the report are Abbott Diagnostics, Agilent Technologies, Beckman Coulter, and Roche Diagnostics.
Technavio has released updated information on the cancer market, with the publication of its new market research report, cancer testing market in the US. The cancer testing market in the US is expected to grow at a CAGR of around 10% between 2015 and 2019. The increase in genetic testing for cancer by end-user segments such as hospitals, diagnostic laboratories, and academics and research institutes are expected to propel the growth of the market.
“In recent years, the use of mass spectrometry has gained grounds in cancer testing owing to its increased coverage of complex proteome or genome analysis. This instrumentation technology provides accurate and immediate results with infinitesimal amounts of material without requiring purified samples. Automation of this technology will enhance its applications in genomics, lipidomics, metabolomics, forensics, data analysis, and environmental monitoring in the coming years,” says Imran Mushtaq, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
Both genetic testing and conventional testing techniques are used for testing various types of cancer, including breast cancer, colorectal cancer, prostate cancer, and others. Breast cancer is the most common cause of cancer-related deaths in women especially in the less developed regions. In 2014, breast cancer accounted for around 42 % in the cancer testing market in the US.
The leading vendors in the cancer testing market in the US include Abbott Diagnostics, Agilent Technologies, Beckman Coulter, and Roche Diagnostics. The market marks the existence of many small and medium sized vendors offering a diversified product portfolio. Large corporations are acquiring small and medium-sized manufacturers to enhance their product portfolio, which is adding to the competition.
A more detailed analysis is available in the Technavio report, Cancer Testing Market in the US 2015-2019.
We can customize this reports by other regions and specific segments upon request.
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