Brain Cancer Diagnostics Market Size is valued at USD 1.46 Billion in 2022 and is predicted to reach USD 2.45 Billion by the year 2031 at a 6.19% CAGR during the forecast period for 2023-2031.
Brain cancer diagnostics involve the identification and characterization of brain tumours using a variety of medical tools and procedures. This encompasses many diagnostic procedures such as imaging investigations, biopsies, blood tests, genetic testing, and neurological evaluations. These tests are conducted to figure out the specific type, location, and characteristics of the brain cancer. The objective is to deliver a precise diagnostic that assists healthcare practitioners in formulating a suitable and tailored treatment regimen for those afflicted with brain cancer.
Brain cancer, characterized by the abnormal proliferation of cells in the brain leading to the new formation of tumours, is a neurological disorder involving the emergence of malignant cells in brain tissue. The expansive nature of the brain cancer market is witnessing increased attention due to a growing population affected by the ailment, drawing in additional stakeholders to engage in diagnostic advancements. Moreover, detecting brain cancer in its early stages poses a challenge, but recent developments in diagnostic product lines offer promise in addressing this concern. In Western countries, the expense of brain tumor surgery is notably high, with costs varying based on the specific procedure, location, and severity of the tumor. Consequently, the elevated costs associated with brain cancer diagnosis and treatment may pose a constraint on market growth.
Competitive Landscape
Some Major Key Players In The Brain Cancer Diagnostics Market:
- Thermo Fisher Scientific Inc.
- Siemens Healthineers AG
- GE Healthcare
- MDxHealth
- NantOmics
- Biocept, Inc.
- Koninklijke Philips N.V.
- Canon Medical Systems
- Hitachi, Ltd.
- Neusoft Medical Systems
- Abbott Laboratories
- Roche Holding AG
- Bio Rad Laboratories Inc.
- Illumina, Inc.
- Bristol-Myers Squibb
- Toshiba Medical Systems Corporation
- Agilent Technologies Inc.
- Hologic, Inc.
- Others
Market Segmentation:
The Brain Cancer Diagnostics market is segmented based on diagnostic technique, brain type, and End users. Based on diagnostic techniques, the market is segmented into imaging techniques, biopsy, molecular diagnostics, and others. The market is segmented by application into gliomas, meningiomas, pituitary tumours, and others. The end users segment is segmented into hospitals, diagnostic techniques, and cancer hospitals.
Based On The Product, The Molecular Diagnostic Segment Is A Major Contributor To The Brain Cancer Diagnostics Market.
The molecular diagnostic category will hold a major share in the global brain cancer diagnostics market 2022. his upswing is primarily attributed to advancements in molecular technologies that enable more precise and personalized assessments of brain cancer. Molecular diagnostics are pivotal in identifying specific genetic and molecular alterations associated with brain tumors, offering valuable insights into their characteristics and behavior. As research and development efforts continue to unveil novel biomarkers and genetic signatures linked to different types of brain cancer, the molecular diagnostic segment is becoming increasingly integral.
The ability of molecular diagnostics to provide detailed information about the genetic makeup of tumours allows for more accurate diagnosis, prognosis, and treatment selection. This precision contributes to improved patient outcomes and underscores the rising importance of the molecular diagnostic segment in shaping the landscape of brain cancer diagnostics.
The Gliomas Segment Witnessed Growth At A Rapid Rate.
The gliomas segment is projected to grow rapidly in the global brain cancer diagnostics market. The increasing recognition of gliomas' distinct characteristics and complexities has fueled a surge in research and diagnostic developments dedicated to this segment. Advancements in imaging technologies and molecular diagnostics have played a crucial role in enhancing the identification and classification of gliomas. The rising emphasis on precision medicine has led to a more nuanced understanding of gliomas' genetic and molecular profiles, enabling tailored diagnostic approaches. As the understanding of gliomas continues to evolve, the diagnostic segment dedicated to these tumours is witnessing growth. This reflects the healthcare industry's commitment to addressing the unique challenges gliomas pose in the broader landscape of Brain Cancer Diagnostics.
The North America Brain Cancer Diagnostics Market Holds A Significant Regional Revenue Share.
The North America Brain Cancer Diagnostics market is expected to register the highest market share. The Brain Cancer Diagnostics Market in North America exhibits a robust and dynamic landscape characterized by significant advancements in technology, extensive research and development activities, and a strong presence of key industry players. The United States, in particular, holds a leading position within this region, contributing substantially to the overall market growth. Technological innovations in brain cancer diagnostics, such as advanced imaging modalities and molecular diagnostic tools, have played a notable role in enhancing the accuracy and efficiency of diagnoses.
The region benefits from a high level of investment in healthcare infrastructure and research, fostering an environment conducive to developing and adopting cutting-edge diagnostic technologies. In addition, Europe is estimated to grow rapidly in the global Brain Cancer Diagnostics market. Collaborative initiatives between European nations and international partners contribute to knowledge exchange in brain cancer diagnostics. These collaborations facilitate the development of standardized diagnostic protocols and the sharing of research findings, ultimately contributing to advancements in brain cancer diagnosis. Moreover, awareness campaigns and educational programs across Europe play a crucial role in advertising early detection and diagnosis of brain cancer.
Recent Developments:
- In Sept 2023, GE HealthCare collaborated with Mayo Clinic to expedite their efforts in the field of imaging and artificial intelligence. The firms partnered to use artificial intelligence in magnetic resonance imaging (MRI) to automate diagnostic and interventional ultrasound procedures.
- In Jan 2023, Agilent Technologies Inc. has just acquired Avida Biomed, a young startup in the field of life sciences. Avida Biomed has created advanced target enrichment procedures with exceptional features, specifically designed for clinical researchers that employ next-generation sequencing (NGS) methods to investigate cancer. The acquisition enhanced Agilent's already dominant SureSelect portfolio and further supported Agilent's plan to enter the rapidly growing clinical research and diagnostics sectors.
Brain Cancer Diagnostics Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 1.46 Billion |
|
Revenue Forecast In 2031 |
USD 2.45 Billion |
|
Growth Rate CAGR |
CAGR of 6.19 % from 2023 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Diagnostic Technique, By Brain Cancer Type, By End-Users |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
|
Competitive Landscape |
Thermo Fisher Scientific Inc., Siemens Healthineers AG, GE Healthcare, MDxHealth, NantOmics, Biocept, Inc., Koninklijke Philips N.V., Canon Medical Systems, Hitachi, Ltd., Neusoft Medical Systems, Abbott Laboratories, Roche Holding AG, Bio Rad Laboratories Inc., Illumina, Inc., Bristol-Myers Squibb, Toshiba Medical Systems Corporation, Agilent Technologies Inc., Hologic, Inc., Others |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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