Melanoma Cancer Diagnostics Market to Experience Significant Growth during the Forecast Period 2017-2022

Posted on 2018-10-16 by Mark Hub in Healthcare // 0 Comments

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To Understand the Melanoma Cancer Diagnostics Market Industry Status worldwide, MRRSE has included the latest Forecast report titled “Melanoma Cancer Diagnostics Market to Experience Significant Growth during the Forecast Period 2017-2022”, to its vast database. This study offers data about the prime regions operating in the Melanoma Cancer Diagnostics Market, along with their production, consumption, revenue and market share details. Further, the intelligent report also anticipates that the market would grow at a constructive CAGR until 2022.

Medical organizations as well as leaders in the global pharmaceuticals industry are stepping up their efforts towards development of profound diagnosis for melanoma cancer. Rising number of deaths caused by melanoma cancer is taking a toll on governments as people are demanding precision diagnosis and a cure-all for this terminal disease. In a bid to adapt to the urban rat race, millions of consumers have adopted lifestyles that are stemming the occurrence of melanoma cancer. For public administration authorities, compelling people to avoid such lifestyles is like challenging the status quo. The burden of controlling the incidence of melanoma cancer gets passed on to hospitals & medical research organizations as they strive to develop novel diagnostic and therapeutic procedures.

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Melanoma or malignant melanoma is a common type of skin cancer where melanocytes, cells containing pigments, begin to grow rapidly. Since occurrence of melanoma is restricted to skin, mouth, intestines or eyes, the diagnostics of melanoma comprises of multiple tests & screening methods such as excisional biopsy, lymph node status analysis, shave biopsy, and fine needle aspirate test.

The global melanoma cancer diagnostics market is projected to grow at a steady CAGR during the forecast period 2017-2027. The melanoma cancer diagnostics market will be influenced by a combination of macroeconomic and microeconomic factors. Increasing spending on healthcare and advances in cancer detection and management are expected to contribute to the growth of the melanoma cancer diagnostics market. However, dearth of advanced solutions in developing countries will continue to pose growth challenges.

By test type, the BRAF mutation test type segment will continue to be used widely for detecting the early onset of melanoma. In terms of revenue share, North America will account for majority share of revenues for the BRAF mutation segment globally. Use of BRAF mutation test type will also remain prevalent in Europe and APEJ.

The CTC segment will grow at a higher CAGR than BRAF mutation test type, with North America holding largest market share. However, it is the APEJ market where revenues will grow at the highest pace.

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The immunohistochemistry segment of the global melanoma market is valued at over US$ 80 million in 2017. North America will remain the largest market for immunohistochemistry, followed by Europe and APEJ. Overall, the immunohistochemistry segment is projected to grow at a significant CAGR through 2022.

North America will remain an attractive market for global melanoma cancer diagnostic market. As discussed previously, BRAF mutation will remain the most widely used test type, followed by CTC. Hospital associated labs will continue to be the largest end-users in the North America melanoma cancer diagnostics market.

Europe, the second-largest market for melanoma cancer diagnostics, will continue to offer growth opportunities to manufacturers. By test type, the CTC cancer diagnostics market will continue to grow at highest CAGR, whereas hospital associated labs will be the largest end-users.

Overall, North America and Europe will continue to be the two most lucrative markets for melanoma cancer diagnostics globally.

Competition Tracking

The key companies profiled in the FactMR’s report on global melanoma cancer diagnostics market include Foundation Medicine, Inc., Cancer Genetics, Inc., Pathway Genomics Corporation, Abbott Laboratories, and Myriad Genetics Inc.

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