- Test Kits & Reagents
Noninvasive Cancer Diagnostics Market size was valued at USD 193.2 billion in 2021, growing at a CAGR of 7.4% from 2022 to 2028. The noninvasive technique is a procedure that does not require insertion of an instrument through the skin. With the advancements in the technology, there are various treatment procedures that are being used. The advent of the modern diagnostic techniques helps in the detection of cancer. The noninvasive techniques play a vital role in the diagnosis of cancer replacing the invasive tests. Noninvasive Cancer Diagnostics Market is a method of diagnosing a condition that does not require or requires only minor body incisions. These techniques include determining genetic structure, biomarkers, alterations in molecular biology, and imaging technologies, among others. Cancer is a disease caused by a genetic change in the cells, resulting in uncontrolled development and the formation of a tumor-like structure. Imaging is the primary method of cancer detection, but it does not allow for genetic access; on the other hand, biopsies that allow for genetic access are complicated and difficult to do repeatedly during cancer diagnosis and treatment. As a result, innovative approaches such as molecular diagnostics, serum-based immunoassays, and chemical tests have been developed to identify chemical components in the body, particularly from blood and urine.Key Development: In February 2020, Biocare Medical launched its seven new IVD IHC antibody markers, especially for clinical diagnostics and research applications, focusing on various immuno-oncology markers, vital in aiding early-stage cancer patient treatment and drug developments. This launch will help the company to enhance its product portfolio in the market.
Fastest Growing Market
Increase in the prevalence of chronic diseases such as cancer is the key factor attributed for the growth of the noninvasive cancer diagnostics market. The technological advancements play a vital role in the development of the noninvasive techniques. Rising demand for the noninvasive and minimally invasive diagnosis is adding fuel for the growth of the market. The growing geriatric population along with growing health issues and rising awareness among the patient population regarding various treatment options is boosting the growth of the noninvasive cancer diagnostics market. The initiation taken by the government and non-profitable organizations to create awareness regarding the early diagnosis of the disease is anticipated to drive the growth of the noninvasive cancer diagnostics market.
The major factors driving the market growth are the increasing prevalence of various types of cancer, such as lung cancer, breast cancer, and more. Also, the increasing geriatric population and increasing awareness about the diagnosis procedures will be anticipated to expand the market of noninvasive cancer diagnostics.
The high cost of treatment and stringent regulatory policies are some restraining factors that obstruct the market’s growth.
The global noninvasive cancer diagnostics market size is expected to be valued at USD 193.2 billion in 2021.
Investment and acquisition are the two key strategies opted for prominent companies in the market.