Brain Cancer Diagnostics Market
Number of pages: 100 | Report Format: PDF | Published date: May 11, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 1.66 billion |
|
Revenue Forecast in 2031 |
US$ 7.70 billion |
|
CAGR |
18.6% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Diagnostic Type, Tumor Type, End User, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global Brain Cancer Diagnostics market was valued at US$ 1.66 billion in 2022 and is expected to register a revenue CAGR of 18.6% to reach US$ 7.70 billion by 2031.
Brain Cancer Diagnostics Market Fundamentals
Brain cancer is caused by the abnormal development of cells in the brain, which causes tumors. It is a neurological condition in which cancer cells (malignant cells) develop in brain tissue. Cancer cells multiply to form a mass of cancer tissue (tumor), which disrupts brain processes such as muscle control, sensation, memory, and other bodily functions. Cancer cells that emerge from brain tissue are referred to as primary brain tumors, whereas tumors that move from other body regions to the brain are referred to as metastatic or secondary brain tumors. Primary brain tumors can arise from various brain tissues (for example, glial cells, astrocytes, and other types of brain cells). The spread of cancer cells from another organ to the brain causes metastatic brain cancer.
A "primary brain tumor" is a tumor that starts in the brain. Brain and nervous system cancer is the tenth leading cause of death in both men and women. According to the American Society of Clinical Oncology (ASCO), in the United States in 2021, about 24,530 persons (13,840 men and 10,690 women) were diagnosed with primary malignant tumors of the brain and spinal cord. The odds of developing this type of tumor in a person's lifetime are less than 1%. Brain tumors account for 85% to 90% of all primary central nervous system (CNS) cancers. Brain tumors can be deadly, negatively influence the quality of life, and ultimately change the lives of patients and their families.
The global brain cancer diagnostics industry analysis report comprehensively analyzes the market, with the factors that either aid or impede the market growth, such as its drivers, restraints, and opportunities. The research provides insight into the companies that operate in the brain cancer diagnostics market and their efforts to position themselves as key players through expansion strategies and innovations. It also highlights recent developments that contribute to brain cancer diagnostics market growth. The research also analyzes the impact of the COVID-19 pandemic.
This research is valuable for businesses seeking insights into the market, customers, and competition. The research provides special insights into the segmentation, regions, market size & projection, revenue CAGRs, and other important information that may help clients make the right decisions. The report assembles data from market players and professionals across the industrial value chain. The study also incorporates qualitative and quantitative assessments from industry professionals. Secondary research, surveys and interviews, and statistical modeling are all used in our research to estimate market size and projection. Our reports deliver the most reliable market data because of our specialized research methods.
[57554]
Brain Cancer Diagnostics Market Dynamics
According to the National Cancer Institute, there will be 25,050 new brain tumor cases in 2022, representing a 1.3% rise in new cancer cases and an anticipated 18,280 deaths, with a 3.0% increase in brain tumor mortality. Age, general health, the tumor size, the stage at which it is medically identified, the body location where it is diagnosed, and the kind of tumor all influence the diagnosis of brain tumors. However, the rising cost of illness treatment and therapies and the side effects of brain therapeutics are expected to hinder the growth of the brain cancer diagnostics market over the forecast period.
Glioblastoma is the most prevalent malignant brain and other CNS tumor, accounting for 47.7% of all cases, according to the American Association of Neurological Surgeons; the incidence of glioblastoma is 3.21 per 100,000 persons. According to Cancer Australia, there will be around 1,879 new cases of brain cancer reported in Australia year 2020. Tumors that are detected early often have more therapeutic choices. Brain tumors can be located using advanced imaging techniques. Intraoperative MRI can also be utilized during surgery to guide tissue sampling and tumor excision. The chemical properties of tumors are investigated using magnetic resonance spectroscopy (MRS). As a result of the increased occurrence of brain cancer worldwide, brain cancer diagnostic techniques are in great demand.
A significant increase in global brain cancer prevalence is projected to drive market expansion in the near future. One key contributing reason is an increased number of cigarette smokers and other environmental contaminants that cause brain cancer. This year, around 78,000 new main brain tumors are predicted to be diagnosed, with 25,000 of these being primary malignant and 53,000 non-malignant brain tumors.
The primary constraints include escalating diagnostic costs, poor knowledge levels, and limited access to the same. In this sense, diagnostic rates in developed markets are substantially greater than in low-income nations.
Brain Cancer Diagnostics Market Ecosystem
Brain Cancer Diagnostics Market, by Diagnostics Type
Brain Cancer Diagnostics Market, by Tumor Type
Brain Cancer Diagnostics Market, by End User
Brain Cancer Diagnostics Market by Diagnostics Type
[756745]
The imaging test is further segmented into MRI, CT scan, and others. The MRI segment is expected to have the largest market share. The MRI segment retains a dominant share due to its strong use in diagnosing brain tumors. The increased global frequency of brain cancer cases will likely fuel the need for brain cancer diagnostics throughout the predicted period.
The market segmentation sections provide the brain cancer diagnostics market outlook in terms of the demarcation of different consumer groups. Market segmentation is the splitting of an industry into subgroups depending on characteristics such as diagnostic type, tumor type, and end user. Market segmentation data helps organizations understand the preferences and distinctive demands of different customer groups and implement targeted marketing strategies. This data additionally helps in identifying potential brain cancer diagnostics market demand opportunities.
Brain Cancer Diagnostics Market by Region
Throughout the forecast period, North America is likely to continue its dominance in the global brain cancer diagnostics market. This is due to reasons such as the rising frequency of brain cancer and the region's growing senior population, as well as increased awareness. During the month of May, the United States observes Brain Cancer Awareness Month. This awareness month focuses on bringing together the brain tumor community in order to raise patient awareness. Brain cancer is not as frequent as other forms of cancer. However, there is a greater need for novel and inventive strategies to treat brain cancer. According to study studies, 1.4 million individuals worldwide are suffering from malignant brain tumors, and another 2, 56,000 people will be diagnosed by the end of the year.
Based on the regions, the global brain cancer diagnostics market is segmented into:
The industry's regional segmentation provides insights into geographic pockets in terms of brain cancer diagnostics industry trends, market size, share, and growth rate. This information helps organizations assess potential growth opportunities in new regional markets, understand competitive threats, and develop localized sales and expansion strategies. This section also offers deeper insights into the regional and country-level brain cancer diagnostics market overview.
Key Components of the Report
Brain Cancer Diagnostics Market Competitive Landscape
Some of the prominent market players in the global brain cancer diagnostics include,
The market competitive landscape analysis is performed by gathering and evaluating data about the key competitors, industry trends, and market dynamics. It involves collecting and analyzing data on factors such as products, pricing, geographic reach, customer demographics, marketing tactics, and recent developments. Competitive landscape analysis can help organizations identify present or prospective opportunities and risks in the market.
Brain Cancer Diagnostics Market Strategic Developments
Reasons To Buy This Report
Key Strengths of Our Report
Target Audience to Benefit from this Report.
Brain cancer is caused by abnormal development of cells in the brain, which causes tumors. It is a neurological condition in which cancer cells (malignant cells) develop in brain tissue.
The total brain cancer diagnostics market size worldwide in 2022 will be 1,660 million.
North America region will have the largest brain cancer diagnostics market size during the forecast period from 2023 to 2031.
The revenue CAGR is the global brain cancer diagnostics expected to have 18.6% during forecast period.
The resultant market size of the brain cancer diagnostics market in 2031 will be 7,708 million.
The brain cancer diagnostics industry is very competitive, with just a few prominent competitors. A few big firms presently dominate the industry in terms of market share. And other significant firms are aggressively collaborating, acquiring, and introducing new goods with other companies to solidify their market positions globally.
The rising prevalence of brain cancer and a growing number of smokers drive the market.
Some prominent market players in global brain cancer diagnostics include GE Healthcare, Koninklijke Philips N.V., and Siemens Healthcare GmbH.
The MRI imaging test segment has the highest share in the global brain cancer diagnostics market.
*Insights on financial performance are subject to the availability of information in the public domain