The ovarian cancer diagnostics market is likely to reach a valuation of US$ 1 billion by the end of 2022, according to a research study by Fact.MR. Growing awareness about early detection of ovarian cancer, combined with government initiatives and funding is likely to provide an impetus to the growth of ovarian cancer diagnostics market. The Fact.MR study remains bullish on the long-term prospects of ovarian cancer diagnostics market, and estimates growth to be over 8% during the assessment period 2017-2022.
The Fact.MR report projects that emergence of multi-purpose diagnosis tests on ovarian cancer is expected to boost the market’s expansion in the future. The report offers comprehensive analysis on the key macroeconomic and microeconomic factors influencing market growth. In a bid to offer readers detailed insights, the report offers segment-wise analysis on the basis of region, test type, and end-users.
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Key Insights on Global Ovarian Cancer Diagnostics Market:
- According to the report, diagnosis of epithelial tumors will procure largest share in the global ovarian cancer diagnostics market. With more than 90% share, this segment is likely to remain prominent in the ovarian cancer diagnostics market.
- Presence of prominent cancer research societies in the US and Canada is anticipated to boost the contribution of North America towards growth of the global ovarian cancer diagnostics market. In 2018, North America remained the dominant region, procuring nearly US$ 250 Mn in revenues. The ovarian cancer diagnostics market in North America is also pegged to exhibit rapid growth by reflecting an estimated CAGR of 8.7%.
- Europe’s ovarian cancer diagnostics market is expected to showcase a relatively faster growth in terms of revenues. Robust healthcare infrastructure in a majority of European countries is observed to boost the adoption of ovarian cancer diagnostics in this region. Towards the end of 2022, Europe will record revenues worth a little over US$ 315 Mn in its ovarian cancer diagnostics market.
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- The report anticipates fastest growth in the Asia-Pacific excluding Japan (APEJ) region. Expanding at an estimated 9.5% CAGR, the ovarian cancer diagnostics market in APEJ region will have procured close to US$ 127 Mn by the end of the forecast period.
- On the basis of test-types, CA 125, HER2 and BRCA are anticipated to be prominent diagnostic tests in the global market. Diagnosis of ovarian cancer through CA125 is expected to account for more than 40% of revenues procured throughout the forecast period. Demand for HER2 testing is also expected to gain traction, reflecting an estimated revenue growth at 9.5% CAGR.
- The report also observes hospital associated labs as the largest end-users of ovarian cancer diagnostics. In 2017, close to US$ 300 Mn worth of revenues will be procured from hospitals associated labs on ovarian cancer diagnostics.
The report has also profiled leading players in the global ovarian cancer diagnostics market. Companies such as Abbott Laboratories, Thermo Fischer Scientific Inc., Roche Holding AG, Siemens AG, Epigenomics AG, Bio-Rad Laboratories, Inc., Illumina, Inc., Myriad Genetics Inc., AstraZeneca plc. and Quest Diagnostics Incorporated are expected to remain active in the growth of global ovarian cancer diagnostics market through 2022.
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