Global Liquid Biopsy Market

The cancer diagnostics market consists of sales of cancer diagnostic devices and equipment. Cancer diagnostic equipment is used to identify biomarkers, proteins and symptoms in order to detect a cancerous tumor in the patient. Cancer diagnostics market is segmented into companion diagnostics and molecular diagnostics. The cancer diagnostics market covered in this report is segmented by products into companion diagnostics, molecular diagnostics. The cancer diagnostics market is also segmented by end-user into cancer research institutes, diagnostic laboratories, hospitals, others; by method into biopsy, endoscopy, tumor biomarker tests, imaging; by application into cervical cancer, breast cancer, liver cancer, blood cancer, kidney cancer, colorectal cancer, pancreatic cancer, ovarian cancer, melanoma, others. The global cancer diagnostics market is expected to grow from $156.27 billion in 2020 to $170.21 billion in 2021 at a compound annual growth rate (CAGR) of 8.9%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The cancer diagnostics market is expected to reach $239.23 billion in 2025 at a CAGR of 8.9%. A high prevalence rate of various types of cancers is a major driver of the cancer diagnostics market. This is because the increasing incidences of various types of cancers is leading to a greater number of people opting for diagnosis and treatment. In addition, according to the World Health Organization (WHO), cancer was the second-leading cause of death worldwide. The National Cancer Institute (NCI) has estimated the number of new cancer cases per year to reach 23.6 million by 2030. Product recall is one of the major restraints for the cancer diagnostics market. Product recall is a process of retrieving all faulty and defective products that have been sold or are available in the market. When a company recalls a product from the market, it takes up the cost of fixing the defective product and replacing it. This cost of replacement of cancer diagnostics devices can be very high for manufacturers, which ultimately restricts the growth of the market. For example, Siemens Healthcare Diagnostics had to recall its IMMULITE/IMMULITE 1000 Systems Prostate-Specific Antigen (PSA) Assay as it was not meeting the required high-dose hook effect expectation. An IMMULITE/IMMULITE 1000 Systems Prostate-Specific Antigen (PSA) Assay can be used as an aid in the detection of prostate cancer along with digital rectal examination (DRE) in men aged 50 years or older. AI-based cancer detection system is an emerging trend in the cancer diagnostics market. AI helps in improving the accuracy of image detection in diagnostic processes such as breast cancer and lung cancer diagnostics, by detecting the cancers in early stages. AI also reduces the instances of false positives in lung cancer screening, thus, improving the lung cancer detection accuracy. For instance, researchers at the Naval Medical Center San Diego and Google's AI research division Google AI, developed a reliable solution comprised of cancer-detecting algorithms used for autonomous evaluation of lymph node biopsies. This AI solution improved the accuracy of metastatic breast cancer detection to 99%. The cancer diagnostics market is regulated by the FDA which imposes restrictions on cancer diagnostic devices such as magnetic resonance imaging (MRI) and nuclear magnetic resonance spectroscopy (NMR). The FDA categorizes these devices into class II category, as they have a moderate risk associated with usage. Class II devices are bounded by device specific regulations which include performance standards, premarket data requirements, post market surveillance and labelling requirements associated with their usage. For instance, the labelling of such devices is required to have a list of contraindications, adverse reactions, precautions, warnings and other instructions before being released in the market. Hence, regulations such as these would keep a check on manufacturers of cancer diagnostics devices. Major players in the cancer diagnostics market are Abbott, Becton Dickinson and Company, Hoffmann-La Roche Ltd, GE Healthcare Ltd., and Thermo Fisher Scientific. The regions covered in the cancer diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the cancer diagnostics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global cancer diagnostics market is segmented - 1) By Products: Companion Diagnostics, Molecular Diagnostics 2) By End-User: Cancer Research Institutes, Diagnostic Laboratories, Hospitals, Others 3) By Method: Biopsy, Endoscopy, Tumor Biomarker Tests, Imaging 4) By Application: Cervical Cancer, Breast Cancer, Liver Cancer, Blood Cancer, Kidney Cancer, Colorectal Cancer, Pancreatic Cancer, Ovarian Cancer, Melanoma, Others

The cancer vaccines market consists of sales of vaccines used for the treatment of cancers and related services by entities (organizations, sole traders and partnerships) that produce vaccines for cancer treatment. Cancer treatment vaccines, also called therapeutic vaccines are a type of immunotherapy, which stops tumor growth, destroys cancer cells and prevents the reoccurrence of cancers. The market consists of revenue generated by the company’s manufacturing cancer vaccines by the sales of these products. The cancer vaccines market covered in this report is segmented by type into preventive cancer vaccines, therapeutic cancer vaccines. The cancer vaccines market is also segmented by technology into dendritic cells (DC) cancer vaccines, recombinant cancer vaccines, antigen/adjuvant cancer vaccines, whole cell cancer vaccines, viral vector & DNA cancer vaccines, by cancer type into prostate, cervical, colorectal, throat, others and by end-user into cancer treatment centers, research institutes. The global cancer vaccines market is expected to grow from $4.9 billion in 2020 to $5.55 billion in 2021 at a compound annual growth rate (CAGR) of 13.3%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The cancer vaccines market is expected to reach $9.18 billion in 2025 at a CAGR of 13%. The rise in the number of cancer cases across the globe is likely to contribute to the growth of the cancer vaccines market during the forecast period. According to the American Cancer Society, there were 1,7 million new cases and 0.6 million cancer deaths in 2019 in the USA. The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43% of all the new cancer cases. Therefore, the rise in cancer incidence rate globally is anticipated to boost the demand for the cancer vaccines market over the coming years. Alternative treatment methods and natural remedies are increasingly becoming popular globally and this is expected to have a negative impact on the revenues of cancer vaccines manufacturing companies. Treatments in the fields of homeopathy, Ayurveda, yoga, acupuncture, sujok therapy are gaining popularity and slowly replacing some traditional hospital practices. For instance, Ayurvedic medicine, an ancient Indian system of medicine uses a range of techniques and treatments for cancer. According to the World Health Organization (WHO), some nations are still responding to plant-based treatment as their main medicine source and developing nations are using the benefits of natural compounds for therapeutic purposes, which is affecting the cancer vaccine sales. Also, the global homeopathic product market is projected to reach $18.6 billion by the end of 2027. This trend is expected to continue during the forecast period and limit the demand for cancer vaccines. Companies in the cancer vaccines market are increasingly investing in preventive or prophylactic vaccines for cancer prevention. Prophylactic vaccines are designed to build immunity in a patient. A prophylactic or preventative vaccine involves introducing antigens into a person's body. According to the World Health Organization, cervical cancer was reported as the second-most common cancer in women with an estimation of 84% new cases worldwide. So far, there are 3 HPV vaccines currently present for the prophylaxis of cancers. Two among these will protect against both HPV 16 and HPV 18, which causes 70% of cervical cancer and the third vaccine prevents 3 more oncogenic HPV types, which further causes 20% of cervical cancers. These three vaccines include Gardasil and Gardasil9 by Merck and Cervarix by GSK. In April 2019, Bayer, through its investment arm Leaps by Bayer, has invested in a US-based biotechnology firm Khloris Biosciences, which is focused on developing prophylactic anti-cancer vaccines. In May 2020, Merck, a US-based pharmaceutical company, acquired Themis Bioscience for an undisclosed amount. The acquisition is expected to complement Merck's capabilities in the development, manufacturing, and distribution of vaccines. Themis Bioscience is a pharmaceutical company that manufactures vaccines and immune-modulatory therapies developed using the measles virus vector platform based on a vector originally. Major players in the cancer vaccines market are, GlaxoSmithKline, Merck, Aduro Biotech, Astrazeneca Plc, Dendreon, Astellas Pharma Inc, Sanofi Pasteur, Sanpower Group, and CSL Limited. The regions covered in the cancer vaccines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the cancer vaccines market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global cancer vaccines market is segmented - 1) By Type: Preventive Cancer Vaccines, Therapeutic Cancer Vaccines 2) By Technology: Dendritic Cells (DC) Cancer Vaccines, Recombinant Cancer Vaccines, Antigen/Adjuvant Cancer Vaccines, Whole Cell Cancer Vaccines, Viral Vector & DNA Cancer Vaccines 3) By Cancer Type: Prostate, Cervical, Colorectal, Throat, Others 4) By End-User: Cancer Treatment Centers, Research Institutes

The cancer monoclonal antibodies market consists of sales of monoclonal antibodies used for the treatment of cancer and related services by entities (organizations, sole traders and partnerships) that produce monoclonal antibodies for cancer treatment. Monoclonal antibodies are highly specific molecules for cancer cells as they bind to the proteins on their surface and it activates an immune response. The market consists of revenue generated by cancer monoclonal antibodies companies manufacturing cancer monoclonal antibodies drugs. The cancer monoclonal antibodies market covered in this report is segmented by monoclonal antibody therapies into bevacizumab (avastin), rituximab (rituxan), trastuzumab (herceptin), cetuximab (erbitux), panitumumab (vectibix), others and by application into breast cancer, blood cancer, liver cancer, brain cancer, colorectal cancer, others. The global cancer monoclonal antibodies market is expected to grow from $45.51 billion in 2020 to $49.77 billion in 2021 at a compound annual growth rate (CAGR) of 9.4%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The cancer monoclonal antibodies market is expected to reach $69.96 billion in 2025 at a CAGR of 9%. The rise in the number of cancer cases across the globe is likely to contribute to the growth of the cancer monoclonal antibodies market. According to the American Cancer Society, there were 1.7 million new cases and 0.6 million cancer deaths in 2019 in the USA. The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43% of all new cancer cases. Therefore, the rise in cancer incidence rate globally is anticipated to boost the demand for the cancer monoclonal antibodies market. The high costs involved in the development of monoclonal antibodies with advanced techniques act as a major restrain for the market due to the complex production process, expensive biological and chemical materials, and clinical trials, as well as required safety, efficacy, and quality tests. Advanced equipment is required for the large-scale production of monoclonal antibodies that encompass multiple disulfide bonds and post-translational modifications, and this equipment is expensive. Clinical efficacy is usually achieved by injecting large amounts of monoclonal antibodies into the system, which means that large quantities are required to be produced for each treatment, thus increasing the cost. According to The American Journal of Managed Care, the annual price of monoclonal antibody therapies used in oncology and hematology is about $100,000 higher than those used in other disease states. Thus, the high development costs in using these advanced techniques will restrain market growth. Companies in the cancer monoclonal antibodies market are increasing their product innovation through strategic collaborations. To sustain in the increasingly competitive market, companies are developing innovative products as well as sharing skills and expertise with other companies. While companies have long collaborated with each other as well as academic and research institutions in this market by way of partnerships and in- or out-licensing deals, this trend has been increasing over recent years. For instance, in September 2020, AbbVie and I-Mab entered into a strategic partnership for the development and commercialization of lemzoparlimab (also known as TJC4), which is a monoclonal antibody drug used to treat multiple cancers. In September 2019, IRBM announced the signing of a service and development agreement with The University of Texas MD Anderson Cancer Center. The agreement will focus on the development of therapeutic monoclonal antibodies for cancer. In March 2020, Gilead Sciences, a US-based biopharmaceutical company, announced its decision to acquire Forty Seven for $4.9 billion. This acquisition is expected to strengthen Gilead’s immuno-oncology R&D portfolio with the addition of Forty Seven’s investigational lead product candidate, magrolimab. Magrolimab is a monoclonal antibody in clinical development for the treatment of several cancers. Forty Seven Inc. is a clinical-stage immuno-oncology company that develops therapies targeting cancer immune evasion pathways and specific cell targeting approaches based on technology licensed from Stanford University. Major players in the cancer monoclonal antibodies market are Amgen, Bristol Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche Ltd, Genmab AS, GlaxoSmithKline, Johnson & Johnson, Novartis AG, Merck & Co., and Spectrum Pharmaceuticals. The regions covered in the cancer monoclonal antibodies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the cancer monoclonal antibodies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global cancer monoclonal antibodies market is segmented - 1) By Monoclonal Antibody Therapies: Bevacizumab (Avastin), Rituximab (Rituxan), Trastuzumab (Herceptin), Cetuximab (Erbitux), Panitumumab (Vectibix), Others 2) By Application: Breast Cancer, Blood Cancer, Liver Cancer, Brain Cancer, Colorectal Cancer, Others 3) By End User: Hospitals And Clinics, Research Laboratories, Pharmacies, Others

The cancer clinical decision tools market consists of sales of cancer decision support tools and related services. Cancer decision tools are designed to support the general practitioner's assessment of patients with potential cancer symptoms. The tools do not change the clinical judgment but give more information that is used to inform patient management decisions. The risk is measured based on reading coded information from the patient record including demographic data, medical history, and symptoms. The cancer clinical decision tools market covered in this report is segmented by type into risk assessment tool (RAT), Qcancer and by end-user into hospitals, clinics. The global cancer clinical decision tools market is expected to grow from $0.36 billion in 2020 to $0.39 billion in 2021 at a compound annual growth rate (CAGR) of 8.3%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The cancer clinical decision tools market is expected to reach $0.55 billion in 2025 at a CAGR of 9%. The rise in the number of cancer cases across the globe is likely to contribute to the growth of the cancer clinical decision tools market. According to the American Cancer Society, there were 1.7 million new cases and 0.6 cancer deaths in 2019 in the USA. The four most common types of cancers worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43% of all new cancer cases. Therefore, the rise in cancer incidence rates across the globe will increase the demand for cancer clinical decision tools to make treatment decisions faster, thereby contributing to the market growth. The breach of data and privacy of patients is a major challenge in the cancer clinical decision tools market. Hackers can get access to data centers through healthcare employee’s emails leading to a breach of patients' information privacy. For instance, in 2019, the Regional Cancer Care Association (RCCA) reported a data breach through phishing email attempts. Email phishing is a primary attack because it is not detectable by email security tools, out of 15 million patient records breached, 11.4 million records were caused by phishing attacks. The risk of the loss of data and privacy of patients harms the growth of the cancer clinical decision tools market. In January 2019, Qiagen, a Germany based provider of sample and assay technologies for molecular diagnostics, applied testing, academic and pharmaceutical research acquired N-of-One for an undisclosed amount. The acquisition of N-of-One will enable QIAGEN to significantly expand its decision-support solutions while offering a broader range of software, content and service-based solutions. It will also enable QIAGEN to expand its clinical bioinformatics capabilities in molecular oncology decision support. N-of-One, a privately-held U.S. molecular decision support company and pioneer in clinical interpretation services for complex genomic data. Major players in the cancer clinical decision tools market are McKesson Corporation, Medical Information Technology Inc., Philips Healthcare, Siemens Healthineers, Elsevier B.V., Macmillan, and National Decision Support Company. The regions covered in the cancer clinical decision tools market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the cancer clinical decision tools market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global cancer clinical decision tools market is segmented - 1) By Type: Risk Assessment Tool (RAT), Qcancer 2) By End-User: Hospital, Clinics

The biopsy devices market consists of sales of biopsy devices and related services by entities (organizations, sole traders and partnerships) that manufacture biopsy devices. Biopsy devices are used to extract sample cells or tissues from the patient's body to be examined to determine the presence of a disease. Only goods and services traded between entities or sold to end consumers are included. The global biopsy devices market is expected to grow from $2.317 billion in 2020 to $2.706 billion in 2021 at a compound annual growth rate (CAGR) of 16.8%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $3.438 billion in 2025 at a CAGR of 6%. The rise in the number of cancer cases contributed to the growth of the biopsy devices market. A biopsy is a primary approach used by doctors to diagnose any abnormalities in the bodies if the presence of cancer cells is suspected. In 2018, according to the World Health Organization, around 2.09 million cases of lung cancer, 1.28 million prostate cancer cases, 1.03 million stomach cancer cases were diagnosed. The increase in the diagnosis of cancer through biopsy increased the demand for biopsy devices and thereby, drove the market. The rise in complications associated with biopsies is expected to limit the growth of the biopsy devices market. Complications resulted from a biopsy include excessive bleeding, infection, puncture damage to nearby organ tissue, and skin numbness around the biopsy site. In some cases, not enough materials are collected and the process needs to be repeated. According to research published in January 2020, major bleeding after percutaneous native kidney biopsy was around 4.3%. These complications in biopsy procedures impact the market's growth. Robot-assisted biopsy systems are shaping the biopsy devices market and help avoid complications after the biopsy. The robot-assisted biopsy is done to increase the precision and accuracy of the biopsy process and medical authorities have been approving the devices to make the process easier. For instance, in 2019, the FDA (Food and Drug Administration) approved Intuitive Surgical Inc’s Ion Endoluminal Lung Biopsy System, a robot-assisted lung biopsy device that uses an ultra-thin articulating robotic catheter. The robotic catheter has an outer diameter of 3.5 mm so that physicians can navigate through thin and tortuous airways and can move 180 degrees in all directions. The system is equipped with a flexible biopsy needle that can pass through tight bends so that it can collect tissue in peripheral lung. In January 2019, IZI Medical Products, a radiology medical device company, has acquired soft tissue and breast localization needle assets from Cook Medical for an undisclosed amount. The acquisition expands the breadth of the products offered by IZI Medical and strengthens diagnostics and therapeutic areas. The major players covered in the global biopsy devices market are Becton Dickinson and Company(BD), Cook Medical, Argon Medical Devices, Hologic, Boston Scientific Corporation, Cardinal Health, B. Braun Melsungen AG, Medtronic, Devicor Medical Products, Danaher Corporation (Leica Microsystem), Fujifilm Corporation, CareFusion Corporation, DTR Medical, Inrad, Gallini Srl, Scion Medical Technologies, Precision Biopsy, Leica Biosystems, Creganna, Focal Therapeutics, Integra LifeSciences Corporation, Olympus Corporation. The countries covered in the global biopsy devices market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global biopsy devices market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global biopsy devices market is segmented - 1) By Product Type: Needle-Based Biopsy Instruments, Core Biopsy Devices, Aspiration Biopsy Needles, Vacuum-Assisted Biopsy Devices, Biopsy Forceps, Localization Wires  2) By Imaging Technology: MRI-guided Biopsy, Stereotactic-guided Biopsy, Ultrasound-guided Biopsy, CT Scan 3) By Application: Breast Biopsy, Gynecological Biopsy, Prostate Biopsy, Liver Biopsy, Lung Biopsy, Kidney Biopsy, Gastroenterology Biopsy, Other 4) By End User: Diagnostics & Imaging Centers, Hospitals, Others

The market for interventional oncology devices comprises the sale of interventional oncology devices and related services by the entities that manufacture them. Interventional oncology devices are used to detect and treat cancer using minimally invasive procedures and advanced imaging technologies. The global interventional oncology devices market is expected to grow from $2.015 billion in 2020 to $2.234 billion in 2021 at a compound annual growth rate (CAGR) of 10.9%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $3.32 billion in 2025 at a CAGR of 10%. The availability of private and government funding drove the interventional oncology devices market. In the field of cancer, funding from the government and private has increased, especially for the devices used in treatments as it promotes early detection and better survival rates. The American Cancer Society, the largest non-government, not-for-profit cancer research funder, has awarded 93 grants which totaled to $40 million in the first of two cycles for 2019 for cancer research. In 2019, the US Congress provided NCI with an amount of $5.74 billion, which represents a $79 million increase from FY 2018, and an additional $400 million for the Cancer Moonshot program that has a special focus on early detection of cancer using latest technologies. BioProtect Ltd, an Israeli company that develops novel bioabsorbable polymer spacer balloons, received a funding of $13 million of its Series D equity financing from a leading global syndicate of venture investors that finances the ongoing multicenter FDA clinical trial of BioProtect's lead product, the ProSpace balloon spacer, which protects prostate cancer patients undergoing radiation therapy. Endosight, the first augmented-reality guided ablative system, has received 20% of its funding from private organizations. The funding from government and private organizations help in the development of new technologies and devices, thereby driving the interventional oncology devices market. Rising product recalls are likely to hinder the demand for interventional oncology devices. The number of interventional oncology product recalls has risen. For instance, in June 2020, the IceFORCE 2.1 CX Prostate Cryoablation Kit Visual ICE System of the Boston Scientific Corporation was recalled as the needle surface had deteriorated. In March 2020, Medtronic recalled the Pipeline Flex embolization system with Shield technology due to a fracture in the distal portion. These product recalls put financial strain on businesses and also hampers the demand, thus hindering the market. Companies are focusing on deploying robotics technology in interventional oncology devices, for higher efficiency. The robotic system integrates image-based planning and navigation with the installation of different instruments to the desired body part with better accuracy and efficiency. For instance, in November 2019, the first robotic device of XACT Robotics Ltd was approved in the United States by the Food and Drug Administration for use during computed tomography (CT) controlled percutaneous interventional procedures. In March 2018, Auris Surgical Robotics, Inc has received U.S. Food and Drug Administration (FDA) clearance for the Monarch™ Platform, a lung biopsy platform that uses robotic technology. In July 2020, Terumo Corporation, a Japanese medical device company, acquired Quirem Medical for $45 million. Through this acquisition, Terumo intends to launch the Holmium platform globally as a part of the ongoing expansion of its interventional oncology (IO) portfolio. It further strengthens the brand and extends manufacturing and clinical development activities. Quirem Medical is a Netherlands-based medical device company that develops and markets Holmium-166-based radioactive microspheres for Selective Internal Radiation Therapy (SIRT). The major players covered in the global interventional oncology devices market are Boston Scientific Corporation, Medtronic plc, Terumo Corporation, Merit Medical Systems, Inc, Philips Volcano, AngioDynamics Inc., GE Healthcare, Siemens Healthineers, Sirtex Medical, Cook Medical Incorporated. The countries covered in the global interventional oncology devices market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The regions covered in the global interventional oncology devices market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global interventional oncology devices market is segmented - 1) By Product: Embolization Devices, Ablation Devices, Support Devices 2) By Procedure: Thermal Tumor Ablation, Non-thermal Tumor Ablation, Transcatheter Arterial Chemoembolization (TACE), Transcatheter Arterial Radioembolization (TARE) or Selective Internal Radiation Therapy (SIRT), Transcatheter Arterial Embolization (TAE) or Bland Embolization 3) By Cancer Type: Liver Cancer, Kidney Cancer, Lung Cancer, Bone Cancer, Others

Robotic Surgery Devices Market Size

The global robotic surgery devices market reached a value of nearly $4,750.6 million in 2020, having increased at a compound annual growth rate (CAGR) of 11.6% since 2015. The market is expected to grow from $4,750.6 million in 2020 to $9,178.1 million in 2025 at a rate of 14.1%. The market is then expected to grow at a CAGR of 15.4% from 2025 and reach $18,792.5 million in 2030. Growth in the historic period resulted from increased healthcare spending, favorable government legislature, growth in elderly population, growth in emerging markets and rise in healthcare expenditure. Factors that negatively affected growth in the historic period are high prices of advanced devices and stringent regulatory process of approval of robotic surgical devices. Going forward, rising demand for minimally invasive surgical procedures, increasing prevalence of chronic diseases and healthcare insurance reforms will drive the growth. Factors that could hinder the growth of the robotic surgery devices market in the future include rising geopolitical tensions and corona virus pandemic.

The medical and diagnostic laboratory services market consists of sales of medical and diagnostic laboratory services and related goods by entities (organizations, sole traders and partnerships) that provide diagnostics tests for various diseases. This industry includes CT scan centers, X-ray centers and other clinics that undertake disease diagnosis. The medical and diagnostic laboratory services market is segmented into medical laboratory services and diagnostic imaging centers. The global medical and diagnostic laboratory services market is expected to grow from $115.89 billion in 2020 to $125.53 billion in 2021 at a compound annual growth rate (CAGR) of 8.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $157.45 billion in 2025 at a CAGR of 6%. North America was the largest region in the global medical and diagnostic laboratory services market, accounting for 49% of the market in 2020. Asia Pacific was the second largest region, accounting for 23% of the global medical and diagnostic laboratory services market. Africa was the smallest region in the global medical and diagnostic laboratory services market. The rise in sedentary jobs, busy lifestyles and changing consumer preferences are affecting the disease profile of the world population, especially non-communicable diseases such as cancer, diabetes and cardiovascular diseases. Long working hours, less physical activity, and unhealthy eating and drinking habits are major causes of chronic diseases such as diabetes. According to the World Health Organization, chronic disease prevalence is expected to rise by 57% globally, by the year 2020. Tests to diagnose these diseases include HbA1c tests for monitoring diabetes, biopsies, tumor marker tests, bone scans, MRI and CT scans for diagnosis of various cancers, electrocardiograms, chest X-rays, cardiac CT scans and stress test for detection of cardiovascular diseases. The increase in the prevalence of lifestyle diseases will increase the demand for tests to diagnose these diseases and thus will drive the medical and diagnostic laboratory services market during the forecast period. The medical and diagnostic laboratory services market is expected to limit by the rising prevalence of self-care diagnostic equipment. These tools can be used by patients without assistance from medical personnel, to diagnose particular disabilities or disorders. Common self-care diagnostic devices include glucose monitoring devices, blood pressure monitoring devices, sleep apnea monitors and temperature monitors. The ease of use of self-care devices has increased demand for them during the last decade and is expected to increase it further during the forecast period. Some virtual applications are also aiding in diagnosis of certain health conditions. For instance, iPhone is working on an IOS accessory called Cue, which can be used as a home diagnostic kit. Self-care diagnostics is expected to have a negative impact on traditional medical and diagnostic laboratory services market during the forecast period by reducing the need for laboratory testing for some basic tests. Medical and diagnostic laboratories are using biomarkers to measure health parameters associated with individual wellness. The health and wellbeing of individuals can be measured by using biomarkers to assess factors behind sleep disorders and symptoms of stress. Biomarkers such as cortisol, testosterone, and secretory IgA can indicate changes in immune system relating to physical and mental conditions. This can be used by physicians to know the causative factors behind such conditions. This is a premium service primarily targeted at wealthy individuals and senior employees of corporations. The major players covered in the global medical and diagnostic laboratory services market are Quest Diagnostics Inc, Sonic Healthcare Limited, Eurofins, OPKO Health Inc, Medical And Diagnostic Laboratory Services. The countries covered in the global medical and diagnostic laboratory services market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The regions covered in the global medical and diagnostic laboratory services market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global medical and diagnostic laboratory services market is segmented - 1) By Type: Diagnostic Imaging Centers, Medical Laboratory Services 2) By Application: Cardiology, Oncology, Neurology, Orthopedics, Gastroenterology, Gynecology, Others 3) By End User Gender: Male, Female 4) By Type of Expenditure: Public, Private Subsegments Covered: Computer Tomography (CT-Scan) Centers, Medical Radiological Laboratories, Dental or Medical X-Ray Laboratories, Ultrasound Imaging Centers, Magnetic Resonance Imaging (MRI) Centers