According to the business intelligence report titled ‘Global Cancer Diagnostics Market 2022-2028’ available with MarketStudyReport, global cancer diagnostics market to surge at a CAGR of 6.2% through 2028 and amass revenues worth USD 75 billion by the end of the analysis period.

The growth of global cancer diagnostics market is backed by increasing recommendations by government organizations and scientific societies for cancer management, a gradual shift towards personalized medicine, and a significant drop in the cost of diagnostic technology.

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Further, improvements in equipment to facilitate better imaging of cancerous cells, escalating cognizance regarding early diagnosis and prevention of cancer, and enhanced dependability of the equipment with respect to result clarification are likely to boost the growth trajectory of the industry in the forthcoming years.

Despite the positive outlook, challenges associated with development of different diagnostic approaches for a variety of cancer mutations may impede scope of remuneration for the industry during the analysis timeframe.

Apart from growth drivers and challenges, the research literature highlights pivotal parameters with respect to historical and current trends, and upcoming opportunities for stakeholders to have a keen understanding of the market scenario, which will further enable them to widen their profit margins.

Moving on to segmentation, worldwide cancer diagnostics market landscape is segregated in terms of type (biopsy, imaging, lab tests, endoscopy, genetic tests, others), disease indication (lung cancer, skin cancer, prostate cancer, liver cancer, ovarian cancer, cervical cancer, pancreatic cancer, kidney cancer, colorectal cancer, others), end user scope (diagnostic imaging centers, hospitals & clinics, diagnostic laboratories, others), and regional expanse (Europe, Asia Pacific, North America).

Each sub-market is critically analyzed in terms of size, scope for expansion, and consumption patterns to enhance the understanding of industry dynamics amongst readers.

The competitive terrain of global cancer diagnostics industry sphere is majorly influenced by prominent players such as Thermo Fisher Scientific Inc., Koninklijke Philips N.V., Becton, Dickinson and Company, F. Hoffmann-La Roche AG, Merck & Co. Inc., GE Healthcare, Abbott Laboratories, Bio-Rad Laboratories Inc., Hologic Inc., and Siemens Healthineers AG.