Oral Cancer Diagnostics Market Overview
According to Market Research Future (MRFR), the global oral cancer diagnostics market is anticipated to acquire a market value of USD 7,367.90 million, expanding at a CAGR of 6.94% by 2024.
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The oral cancer diagnostics market 2020 is anticipated to be majorly driven by on-going technological developments in endoscopy, biomarkers, and biopsy. The consumption of tobacco can increase cancer prevalence that is likely to surge the demand for advanced cancer screening tools, which can boost the market growth. Conventional diagnosis tests are time-consuming; therefore, the demand for advanced non-invasive cancer diagnostics is likely to rise, which is projected to augment the market in the assessment period. Furthermore, the surging investments by key players in the oral cancer diagnostic business are likely to strengthen the market in the forthcoming period.
On the other hand, lack of trained professionals is likely to hamper the market during the projection period. However, the availability of early diagnosis tools and the growing geriatric population are projected to counter the impeding factor that can aid in boosting the market.
Oral Cancer Diagnostics Market Segmentation
The segmental analysis of the global oral cancer diagnostics market is done by indication, end-user, and diagnosis type.
The indication-based segments of the global oral cancer diagnostics market are oral cavity lymphomas, oral verrucous carcinoma, oral squamous cell carcinoma, mucoepidermoid carcinoma (salivary gland), and others.
The end-user-based segments of the global oral cancer diagnostics market are research and academic institutes, hospitals and clinics, and others.
The diagnosis type based segments of the global oral cancer diagnostics market are fluorescence imaging, biopsy, endoscopy, X-ray, computed tomography (CT), magnetic resonance imaging (MRI), positron emission tomography (PET), ultrasonography, and others.
Oral Cancer Diagnostics Market Regional Analysis
Based on the region, the global oral cancer diagnostics market is done by North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
As per the analysis by MRFR, the global market is anticipated to be dominated by the Americas. The region is predicted to procure the largest market share owing to the presence of prominent key players. The presence of advanced healthcare facilities is anticipated to strengthen the regional market in the coming period. Furthermore, the increasing incidence of oral cancer and supportive reimbursement policies in countries, such as; the US and Canada are expected to play a substantial role in driving the market in the assessment period.
Europe is anticipated to acquire the second largest market share owing to the rising government support for research & development, and the availability of sufficient funds are expected to strengthen the regional market. Also, the expanding geriatric population with the accelerating cases of oral cancer in the region can augment the market in the forecast period.
The APAC market is expected to be the swiftest growing market during the review period owing to the developing healthcare infrastructure. The increasing patient pool is likely to develop the regional market in the coming period. The rise in healthcare expenditure is expected to steer the APAC market in the projection period. The participation of emerging nations like India, China, and Japan can further strengthen the regional market.
The MEA region is anticipated to expand owing to the rising awareness about cancer diagnostics methods with the rising adoption of medical diagnosis modalities.
Oral Cancer Diagnostics Market Key Players
Eminent players of the global oral cancer diagnostics market are Koninklijke Philips NV (Netherlands), F. Hoffmann-La Roche Ltd (Switzerland), GE Healthcare (US), Thermo Fisher Scientific Inc. (US), Hitachi Ltd (Japan), Siemens Healthineers (Germany), PeriRx, LLC (US), Vigilant Biosciences, Inc. (US), Canon Medical Systems Corporation (Japan), and QIAGEN (Germany).
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