The Asia Pacific Cancer tissue diagnostics market is expected to reach US$ 730.09 Mn in 2027 from US$ 410.78 Mn in 2018
Feb 19, 2020, 14:45 ET
NEW YORK, Feb. 19, 2020 /PRNewswire/ -- The Asia Pacific Cancer tissue diagnostics market is expected to reach US$ 730.09 Mn in 2027 from US$ 410.78 Mn in 2018. The market is estimated to grow with a CAGR of 6.9% from 2019-2027.
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The growth of the cancer tissue diagnostics market during the forecast period is primarily attributed to factors like the rising number of cancer patients in the Asia Pacific and technological advancements and product launches in Asian Countries. On the other hand, the emerging countries in the Asia Pacific region are expected to have opportunities for growth of the Asia Pacific cancer tissue diagnostics market in the coming years.
The Asia Pacific region is a diverse and densely populated region with around 4.5 billion population (as of 2016) and accounts for 60% of the world population. According to the American Cancer Society, Inc., in 2018, approximately 8.2 million new cancer cases were diagnosed, and about 5.2 million cancer deaths were estimated in the Southern, Eastern, and South-Eastern Asia, which is around half of the cancer burden worldwide. The report also mentioned that China accounts for 52% of new cancer cases, which is around 4.3 million new cases, and 55% of cancer deaths that are around 2.9 million cancer deaths in the region. According to the cancer factsheet by the National Institute of Cancer Prevention and Research (NICPR), the Indian Council of Medical Research (ICMR), in 2018, in India, total deaths due to cancer were 7,84,821, of which 4,13,519 were male deaths, and 3,71,302 were female deaths. The report also mentioned that in India, one woman dies every 8 minutes due to cervical cancer.
The Asia Pacific region follows most of the global trends for common cancer types and has some key differences.For instance, in Asia, the most common type of cancer in men is lung cancer, while in the West, it is prostate cancer.
Also, in Asian females, breast cancer is the most common type of cancer. However, cervical and liver cancers occur more frequently in other regions.
Thus the growing prevalence of cancer is likely to demand new diagnostics techniques, which will drive the growth of the cancer tissue diagnostics market during the forecast period.
Asia Pacific cancer tissue diagnostics market is segmented into test type.Based on the test type, the cancer tissue diagnostics market is categorized as immunohistochemical tests and in situ hybridization tests.
The immunohistochemical tests market held the largest share in 2018 and is also expected to witness rapid growth during the forecast period.
Some of the major primary and secondary sources for cancer tissue diagnostics market included in the report are World Health Organization (WHO), United Nations Population Fund, Food and Drug Administration (FDA), National Institute of Cancer Prevention and Research (NICPR), the Indian Council of Medical Research (ICMR), among others.
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