As scientists in cancer research organizations continue to develop more advanced diagnosis tests for ovarian cancer, medical device manufacturers are expected to face challenges in adapting to such changes. In the long run, the demand for ovarian cancer diagnostics is expected to gain traction, on the account of rising awareness of ovarian cancer symptoms and higher adoption of screening tests as a preventive measure.
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The Fact.MR report on global ovarian cancer diagnostics market projects that by the end of 2017, around US$ 638 Mn worth of revenues will be procured globally through diagnosis of ovarian cancer. Emergence of multi-purpose diagnosis tests on ovarian cancer is expected to boost the market’s expansion in the future. Towards the end of 2024, the global market for ovarian cancer diagnostics is anticipated to expand at 8.7% CAGR, bringing in revenues worth a little over US$ 966 Mn.
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, over US$ 875 Mn revenues are anticipated to be procured by diagnosis of epithelial tumors in the global 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 2017, North America will remain dominant region, procuring nearly US$ 240 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%.
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- 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 2024, Europe will record revenues worth a little over US$ 315 Mn in its ovarian cancer diagnostics market.
- 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.
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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 2024.
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