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Cancer Services Market Segmentation by Diagnosis Procedures {Tests (PSA, CTC, and Others), Imaging (Mammography, CT Scan, and Others), Endoscopy (Colonoscopy and Bronchoscopy), and Biopsy (Bone Marrow, and Needle Biopsy)}; by Treatment {Vaccines (Conjugate and Others), and Growth Blockers (Tyrosine Kinase, and Proteasome Inhibitors)}; by Type (Blood, Breast and Others); and by End-User (Hospitals and Specialty Cancer Centers) – Global Demand Analysis & Opportunity Outlook 2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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  • May 24, 2022: One of the major subsidiaries of Philips, Philips Respironics, provides voluntary recall notification for particular respiratory and sleep care products.

  • May 20, 2020: Novartis Cosentyx, a fully human biologic to inhibit interleukin-17A, receives a positive opinion of CHMP for the long-lasting utilization in arthritic conditions of children.

Global Cancer Services Market Highlights Over 2022 - 2031

The global cancer services market is estimated to garner substantial revenue by growing at a CAGR of ~20% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to rising cases of cancer, a growing geriatric population, and higher consumption of alcohol, cigarettes, and tobacco. Furthermore, escalating awareness of the early diagnosis of cancer is also projected to boost the growth of the market during the forecast period. A report published by World Health Organization (WHO) showed that 22.3% of people of the global population consumed tobacco in 2020 while in 2022, a similar source stated that 3 million people lost their lives annually due to harmful consumption of alcohol worldwide. Cancer is a critical disease in which the abnormal formation of cells results in multiple symptoms. Furthermore, an up-surged growth in the geriatric population can also be a vital growth driver of the market over the forecast period. According to a report published by the World Bank, the global geriatric population in 2020 amounted to 723,484,045. All these factors are anticipated to influence the growth of the market positively over the forecast period.

Cancer Services Market

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The market is segmented by type into blood, breast, ovarian, and others, out of which, the breast segment is anticipated to hold a notable share in the market during the forecast period on account of its higher prevalence across the globe. Breast cancer is the most common type of cancer that occurs frequently in females. A report published by World Health Organization (WHO) in 2020 demonstrated that 2.3 million women across the globe were suffering from breast cancer.

Major Macro-Economic Indicators Impacting the Market Growth

Healthcare Expenditure per Capita, (USD), 2015-2018

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Cancer Services Market Regional Synopsis

Regionally, the global cancer services market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the North America region is estimated to witness noteworthy growth over the forecast period on the back of the higher prevalence of cancer, developing technologies for the treatment and prevention of cancer, and growing healthcare expenditure. According to a report by National Cancer Institute (NIH) in 2022, 40,000 cases of cancer were observed annually, meanwhile, 290,560 new cases of breast cancer were noticed in the USA in the same year. Additionally, 106,180 cases of colon cancer and 44,850 cases of rectal cancer also emerge in the region in 2022. Furthermore, the rising utilization of modern technology to diagnose and treat cancer is also expected to hike the growth of the market. Based on data provided by the National Library of Medicine (NLM) in 2017, about 644,000 robotic-assisted surgeries were performed in the U.S. Furthermore, the global cancer services market is anticipated to grow in the Asia Pacific region during the forecast period. The growth of the market in the region is accounted to the growing geriatric population, rising cases of multiple types of cancer, and increasing awareness of the treatment of the disease.

Cancer Services Market Share

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The global cancer services market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook

  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook

  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of the Middle East and Africa) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global cancer services market includes the following segments:

By Diagnosis Procedures

  • Tests 
    • PSA
    • CTC
    • Others 
  • Imaging 
    • Mammography
    • CT Scan
    • Others 
  • Endoscopy
    • Colonoscopy
    • Colposcopy
    • Bronchoscopy 
  • Biopsy 
    • Bone Marrow
    • Needle Biopsy

By Treatment

  • Vaccines 
    • Conjugate
    • Others 
  • Growth Blockers 
    • Tyrosine Kinase
    • Proteasome Inhibitors

By Type

  • Blood
  • Breast
  • Ovarian
  • Others

By End-User

  • Hospitals
  • Specialty Cancer Centers

Growth Drivers

  • Higher Prevalence of Cancer
  • Growing Technologies for the Treatment and Prevention of Cancer
  • Increasing Healthcare Expenditure


  • Requirement for High Initial Investment

Top Featured Companies Dominating the Market

  • Siemens Healthcare GmbH
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • Fonar Corporation
  • Koninklijke Philips N.V.
  • Shimadzu Corporation
  • Abbott Laboratories 
  • Samsung Medison Co., Ltd.
  • Eli Lilly and Company
  • Hologic, Inc.
  • Novartis International AG
  • GE Group


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