SAN FRANCISCO, December 1, 2016
SAN FRANCISCO, December 1, 2016 /PRNewswire/ --
The global cancer diagnostics market is expected to reach USD 232.7 billion by 2025, according to a new report by Grand View Research, Inc. Continual introduction of innovative products coupled with increasing need for early diagnosis of the disease is the prime factor driving the market growth.
In addition, rapid growth of the sector is attributed to the penetration of technologically advanced laboratory systems that have improved oncological screening in yielding accurate outcomes. Rising incidence of cancer is triggering the demand for these screening tests and imaging modalities that are used for monitoring disease progression.
Collaborative and independent initiatives led by governments and companies are striving to raise cognizance about the benefits of early diagnosis of the disease. In addition, cancer research organizations along with public and private entities are investing heavily on research projects to launch advanced diagnostic tools in the market, which are capable of diagnosing the disease way before the symptoms appear.
Furthermore, giant players are collaborating with governments and other agencies to enhance patient accessibility of their products. For instance, Illumina, Inc. launched a new venture named GRAIL with investors, Jeff Bezos and Bill Gates, with an investment of more than $100 million. GRAIL is mainly focused on blood-based oncological screening for timely diagnosis of the most common tumor types through simple laboratory tests.
Browse full research report with TOC on " Cancer Diagnostics Market Analysis By Type (Laboratory Tests, Genetic Tests, Imaging, Endoscopy, Biopsy), By Application (Breast, Lung, Liver, Cervical, Colorectal, Skin, Blood, Kidney, Prostate, Ovarian And Pancreatic Cancer) And Segment Forecasts, 2014 - 2025 " at: http://www.grandviewresearch.com/industry-analysis/cancer-diagnostics-market
Further Key Findings from the Study Suggest:
Browse related reports by Grand View Research:
Grand View Research has segmented the cancer diagnostics market by type, application, and region:
Access research insight: http://www.grandviewresearch.com/research-insights/cancer-diagnostics-market-insights-size
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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SOURCE Grand View Research, Inc.PR Newswire
Last updated on: 01/12/2016
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