Rapid Cancer Tests Kits Market: Introduction
- The rapid cancer test market is driven by an indispensable need for low-cost point-of-care diagnostic technology for cancer detection
- Non-invasive diagnostic tools play a crucial role in advancing the care for cancer patients, given the fact that tests in lab settings usually are time-consuming, expensive, and invasive
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- The market is expanding due to the growing array of biomarkers that have been integrated into test kits. The great value that point-of-care diagnostics play in general well-being of patients offers significant opportunity for the cancer rapid test kit market.
- Advances in biosensor technology have helped stakeholders witness opportunities in the market. A case in point being lab-on-a-chip.
- Advances in biosensors have helped manufactures improve the functionality. On the other hand, the development of suitable biomarkers for rapid cancer test is replete with the challenges of designing kits that meet the requirements of specificity and sensitivity. These include metabolites, lipids, RNA, DNA, and exosomes. Advent of new immunoassay-based technologies has further boosted the test cancer kits market.
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Key Drivers, Restraints, and Opportunities of Rapid Cancer Tests Kits Market
- Increase in usage of tobacco, which includes smokeless tobacco, HPV-induced cancers, and consumption of alcohol are major factors that drive the cancer rapid test kit market. Furthermore, increase in awareness and aging population also contribute to the prevalence the cancers.
- According to the cancer research center in U.K, globally over 3, 00,000 persons were diagnosed with oral cancer. Smoking is a major factor that is turning many men and women into victims of oral cancer. In the U.S., black males exhibit a high incidence rate as compared to their white counterparts because of cigarette smoking and heavy alcohol consumption.
- Lack of new diagnostic technologies in the market is a major factor restraining the rapid cancer testing kits market
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North America to dominate global rapid cancer tests kits market
- North America is expected to hold a relatively high market share due to growing awareness about the disease and rise in geriatric population in the region. However, Asia Pacific and European regions are also notable markets due to increase in incidence of cancer in these regions.
- Currently, very few technologies are available in the market for routine screening of oral cancers. Hence, companies are trying to develop the rapid cancer testing kit, which can detect the stage of cancer effectively in less time to perform test at home/clinic.
- Vigilant biosciences developed ‘OncAlert Oral Cancer LAB Test’, which is accurate, cost-effective, and uses non-invasive technology. This technology also received CE mark in Europe, which enables this product to sell all over Europe. Various companies and universities are trying to develop rapid detection technology for cancer kits in order to detect cancer.
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Key Companies of Rapid Cancer Tests Kits Market
- Xiamen Biotime Biotechnology
- Exact Sciences,
- Hubei Jinjian Biology
- Nanjing Liming Bio-products Co., Ltd.
- Abingdon Health
- Ameritek, Inc.
- Alfa Scientific Designs
- Diagnosis S.A.
- Boson Biotech Co., Ltd
- Teco Diagnostics
- Ulti Med Products
- Firstep Bioresearch
- IDL Biotech
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