Global Melanoma Cancer Diagnostics Market to Expand: Downturn in Sales Anticipated amid COVID-19 Outbreak, Concludes Fact.MR

Growing emphasis on early detection and prevention is driving the melanoma cancer diagnostics market, with global revenue surpassing US$ 800 million in 2018, according to a new study conducted by Fact.MR. The growth of the market is steady in countries/regions with higher prevalence of melanoma. Spending on advanced and safe melanoma cancer diagnostics is growing in the US, as efforts to diagnose the disease at an early stage gain traction. The American Academy of Dermatology estimates around 9,500 people in the US are diagnosed with skin cancer and more than 1 million people in the US are living with melanoma. With skin cancer as most common form of cancer in the US, an increasing number of people are receiving skin cancer diagnosis every year compared to other type of cancers.

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Extensive usage of tanning beds is also leading to the rise in melanoma cancer rates globally. Researchers have also found that UV light from sun and tanning beds not only causes melanoma but increases the risk of benign mole which can progress to melanoma. Europe also shows potential for expansion in melanoma cancer diagnostics owing to the treatment rates, government initiatives supporting diagnosis and treatment, and availability of premium drugs.

Fluorescent In Situ Hybridization (FISH) Emerging Highly Preferred Test Type

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High sensitivity, specificity and speed at which assays can be performed is resulting in significant use of Fluorescent In Situ Hybridization (FISH) test in both research and diagnosis of skin cancer and solid tumors. Fact.MR expects FISH Test to witness steady growth, exceeding US$ 300 million in 2018.

FISH is offering identification of genetic changes that are too small to be visible under microscope. Moreover, FISH test is not required to be performed on the cells actively dividing making it faster than other types of test. With an emphasis on early detection of skin cancer, FISH is becoming a vital tool to detect cancer. FISH is also witnessing significant adoption in detecting melanoma cancer diagnosis compared to Comparative Genomic Hybridization (CGH) Tests, owing to the technical limitations in CGH.

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