Ovarian Cancer Diagnostics Market- Sales from Prime Geographies Projected to Motivate Growth during 2017 to 2022

Posted on 2019-08-27 by Mark Hub in Healthcare // 0 Comments

As scientists in cancer research organizations continue to develop more advanced diagnosis tests for ovarian cancer, medical device manufacturers are expected to face challenges in adapting to such changes. In the long run, the demand for ovarian cancer diagnostics is expected to gain traction, on the account of rising awareness of ovarian cancer symptoms and higher adoption of screening tests as a preventive measure.

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The Fact.MR report on global ovarian cancer diagnostics market projects that by the end of 2017, around US$ 638 Mn worth of revenues will be procured globally through diagnosis of ovarian cancer. Emergence of multi-purpose diagnosis tests on ovarian cancer is expected to boost the market’s expansion in the future. Towards the end of 2022, the global market for ovarian cancer diagnostics is anticipated to expand at 8.7% CAGR, bringing in revenues worth a little over US$ 966 Mn.

Epithelial Tumours Segment larger than the other two combined

The Epithelial Tumours Segment is anticipated to grow to almost US $ 880 million by the end of the forecast period and it already accounts for an 11% revenue share in 2017 itself. North America alone represents almost 2/5^th of the market and it should touch US$ 330 million by the end of 2022. The germ cell carcinoma tumours segment is much smaller by comparison and is only poised to be a US$ 50 million market by the end of the five year study. Even the stromal carcinoma tumours segment is marginal at best when contrasted with epithelial tumours in the ovarian cancer diagnostics market. The stromal carcinoma tumours segment is likely to be valued at only US$ 28 million in 2017.

Hospital associated and independent diagnostic labs most vital

The hospital associated lab segment is expected to record a CAGR of 7.8% from 2017-2022 and rise from just under $300 million in 2017 to roughly US$ 440 million in 2022. Independent diagnostic labs are the second most important segment in the ovarian cancer diagnostics market and are estimated to be worth US$ 161 million in 2017. While North America might account for the largest contribution, Europe should record a higher CAGR of 9.5% making it more attractive to target in the long term.

Focus on CA 125 test segment in the ovarian cancer diagnostics market

The CA 125 test segment could be worth roughly US$ 440 million in 2022 and some key stakeholders may decide to focus on this lucrative test over all other available alternatives in the ovarian cancer diagnostics market. However, the HER 2 segment also accounts for a 3.1% revenue share in 2017 and it would be unwise to do so. On the other hand, the BRCA segment in North America alone could grow with a CAGR of 8.3% for the period 2017-2022, making it imperative for companies to hedge their bets in the ovarian cancer diagnostics market.

Competition Tracking

The report has also profiled leading players in the global market for ovarian cancer diagnostics, which include Quest Diagnostics Incorporated, Myriad Genetics Inc., AstraZeneca plc., Epigenomics AG, Illumina, Inc., Bio-Rad Laboratories, Inc., Siemens AG, Thermo Fisher Scientific Inc., Roche Holding AG., and Abbott Laboratories.

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