Brain Cancer Diagnostics Market to Hold a High Potential for Growth by 2027
VALLEY COTTAGE, N.Y. – Brain cancers are the extracellular growth in the brain that includes primary brain tumors, and secondary brain tumors. Primary brain tumors start in the brain and do not spread to other parts of the body while the secondary tumors or metastases are those, which are caused by cancers that began in another part of the body. Brain tumors may be categorized into 40 major types, which are grouped into two major groups such as benign and slow growing with less possibility to spread and the other type is the malignant and cancerous that is more likely to spread. There are some causes, which results in brain cancer and are more common in people with certain gene factor or hereditary conditions. Brain cancer can also be caused due to the exposure of very high doses of radiation to head. Brain cancer is most commonly diagnosed through MRI. Other prevalent methods include angiograms, CT scans, diffusion tensor imaging, fMRI, etc. Technological evolution coupled with accelerated demand for faster diagnosis are factors pushing R&D in the brain cancer diagnostics market.
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Brain Cancer Diagnostics Market: Drivers & Restraints
Revenue growth in the brain cancer diagnostics market is expected to be fuelled by factors such as technological advancements from conventional techniques. This has helped improve speed as well as the accuracy of the diagnostic machines, yielding better results, which could finally make way for earlier adoption of treatments. Significant increase in brain cancer prevalence globally is expected to underpin market growth in near future. One of the major contribution factors is the rise in a number of cigarette smokers and other various environmental toxins, which causes brain cancer. Around 78,000 new cases of primary brain tumors are expected to be diagnosed this year; 25,000 of them are primary malignant and 53,000 non-malignant brain cancers.
Primaryrestraints include rising cost of diagnosis, low awareness levels and reduced accessibility to the same. In this regard, the rates of diagnosis are much higher in developed markets than in low-income countries.
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Brain Cancer Diagnostics Market: Segmentation
Brain cancer diagnostics market is classified on the basis of test type, brain cancer type, and end-user.
Based on test type, the brain cancer diagnostics market is segmented into the following:
- Magnetic Resonance Spectroscopy
- PET Scan
- Single Photon Emission CT Scan (SPECT)
- Spinal Tap
- Magnetic Resonance Imaging (MRI)
Based on Brain Cancer Type, the Brain cancer diagnostics Market is segmented into the following:
- Acoustic neuroma
- Choroid plexus papilloma
- Glioblastoma multiforme
- Others (mixed, optic nerve and brainstem gliomas, oligodendroglioma, pineal tumors, pituitary adenomas, primitive neuroectodermal tumors, schwannomas, vascular tumors)
Based on End-User, the brain cancer diagnostics market is segmented into the following:
- Cancer Diagnostic Center
- Cancer Research Institutes
Based on geography, the Brain cancer diagnostics Market is segmented into following:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, U.K, Spain, France,Rest of Western Europe)
- Eastern Europe (Russia)
- Asia-Pacific(China, India, ASEAN, Australia & New Zealand)
- Middle Eastand Africa (GCC, S. Africa)
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Brain cancer diagnostics Market: Overview
Brain cancer diagnostics market is expected to expand at healthy growth rates across regions.In the U.S. alone the American Brain Tumor Association has predicted that nearly 78,000 new cases of primary brain tumors are expected to be diagnosed this year. Malignant brain tumors are the most common cause of cancer-related mortality in patients aged 15-39 years. It is also one of the most common cancers affecting 15-19-year-olds. The markets in European region too are expected to witness rising number of diagnosed cases given a cross-sectional aging in population levels. The diagnosis of meningioma followed by glioma and glioblastoma are expected to witness acceleration in the U.S. and EU5 countries.
Brain Cancer Diagnostics Market: Region-wise Outlook
Depending on the geographic region, Brain cancer diagnostics market is segmented into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific excluding Japan, Japan, and Middle East & Africa.
North America is expected to account for the largest market by revenue generation from diagnosis of brain cancers due to etiological trends and lifestyle oriented problems apart from genetic issues. Eastern and Western Europe are expected to reflect accelerated diagnosis rates owing to the availability of reimbursement facilities. With the rise in standards of health care services in Asia Pacific countries is expected to favor the market for brain cancer diagnostics. The increase in healthcare expenditure stemming from government budgets could raise diagnostic infrastructure standards in Asia Pacific countries. Amongst the Asian countries, China, India, Australia and New Zealand and South Korea is expected to be more promising because of rising per capita spending on healthcare as well as large developments in healthcare infrastructure.
Brain Cancer Diagnostics Market: Key Players
GE Healthcare, Hologic, Inc., NantOmics, Siemens Healthcare Diagnostics, Thermo Fisher Scientific, Inc., are some of the participating global players in brain cancer diagnostics market.
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