Asia Pacific Cancer Screening Market to Grow with a CAGR of 13.37% During 2021-2030; Market to Grow on Account of Increasing Development in the Medical Sector in the Region
Kenneth Research published a report titled “Asia Pacific Cancer Screening Market: Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the Asia Pacific cancer screening market in terms of market segmentation by screening type, product, application, end-user, and by country.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The Asia Pacific cancer screening market is anticipated to grow with a CAGR of 13.37% during the forecast period, i.e., 2021-2030. The market is segmented by screening type into laboratory tests, genetic tests, imaging, biopsy, endoscopy, and others, out of which, the imaging segment is projected to garner the largest revenue of USD 52365.97 Million by the end of 2030. Moreover, in the year 2020, the segment generated a revenue of USD 15039.41 Million.
The Asia Pacific cancer screening market is estimated to garner a revenue of USD 142542.43 Million by the end of 2030, up from a revenue of USD 40982.90 Million in the year 2020. Rising health expenditure in the region, followed by the growing medical industry, along with the increasing advancements in the field of healthcare technologies associated with screening of cancer are some of the major factors anticipated to drive the growth of the market in the coming years.
Geographically, the Asia Pacific cancer screening market is segmented into Australia, Japan, Singapore, South Korea, India, China, Taiwan, Vietnam, Thailand, Philippines, and the Rest of Asia Pacific. Out of these, the market in China is anticipated to garner the largest revenue of USD 62861.21 Million by the end of 2030. Moreover, in the year 2020, the market in the nation generated a revenue of USD 17376.75 Million.
Rising Incidences of Cancer to Drive the Market Growth
According to the statistics by the World Health Organization (WHO), the incidence of cancer in the Asia Pacific registered 9.50 Million in the 2020 and is further expected to touch 15.1 Million by 2040.
The surge in cancer cases in the Asia Pacific is driving the need for the early detection and diagnosis of the disease so as to lower the mortality rates caused due to the disease. Cancer screening helps to diagnose the different types of cancer disease and helps healthcare service provider to prescribe the right medicine to the patient at the right time. Moreover, the increasing advancements in the field of cancer screening technologies, such as the development of advanced imaging devices and reagents that are used for the detection of the disease, is also expected to aid the market growth in the coming years.
However, the high costs associated with cancer disease imaging systems, and the lack of skilled technicians for performing screening of the disease are expected to operate as key restraint to the growth of Asia Pacific cancer screening market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the Asia Pacific cancer screening market which includes company profiling of Abbott, General Electric, Hologic, Inc., Siemens Healthcare Private Limited, QIAGEN, F. Hoffmann-La Roche Ltd., Illumina, Inc., Novacyt Group, Koninklijke Philips N.V., MiRXES Pte Ltd., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Asia Pacific cancer screening market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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