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Cancer Screening Technologies To Witness High Demand As Lung Cancer Cases Rise Globally; Cancer Screening Market To Grow At A CAGR Of 9.67% During 2020-2027

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Research Nester released a report titled Cancer Screening Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global cancer screening market in terms of market segmentation by diagnostic methods, by cancer, by end user and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

Cancer screening is a diagnostic procedure that aims to identify cancer before the onset of any serious symptoms. Cancer screening tests are done in order to diagnose cancer in the body and to detect cancer at its early stages, where it may be easier to treat. The market for cancer screening is anticipated to grow at a significant CAGR of 9.67% over the forecast period, i.e., 2020-2027. Moreover the market is anticipated to reach a market value of USD 281,385.28 million by the end of 2027. The market is segmented on the basis of diagnostic methods, by cancer, by end user and by region. Based on the type of cancer, the market is sub-segmented into lung cancer, breast cancer, prostate cancer, colorectal cancer, blood cancer, liver cancer, pancreatic cancer, skin cancer, cervical cancer and others, out of which, the lung cancer segment is estimated to capture the largest market value by 2027.

On the basis of geography, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in North America was projected to hold the leading share of 40.64% in 2019 which is predicted to grow further on account of increase in investments towards healthcare from government and private entities for maintaining high quality of care offered at healthcare facilities.

Rising Cases of Lung Cancer to Drive the Market Growth

According to American Cancer Society, the overall probability of lung cancer in men is about 1 in 15 men, on the other hand, for women the risk is about 1 in every 17 women. There are a number of factors responsible for the incidence of cancer such as growing and ageing population worldwide and an increase in exposure to the risk factors linked with cancer. These are predicted to result in substantial market growth over the coming years. However, the increasing number of regulations and complicated testing regimes on cancer screening are estimated to act as restraining factors for the growth of the market.

This report also provides the existing competitive scenario of some of the key players of the global cancer screening market which includes company profiling of Siemens Healthineers AG (ETR: SIE), GE Healthcare (NYSE: GE), Abbott (NYSE: ABT), F. Hoffmann-La Roche Ltd. (SWX: RO), Olympus Corporation, FUJIFILM Corporation (TYO: 4901), Agilent Technologies, Inc. (NYSE: A) and Thermo Fisher Scientific (NYSE: TMO). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global cancer screening market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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