Asia Pacific Cancer Screening Market to Grow on the Back of Growing Incidences of Cancer in the Region; Market to Grow with a CAGR of 13.37% During 2021-2030
Kenneth Research has released a report titled “Asia Pacific Cancer Screening Market: Demand Analysis & Opportunity Outlook 2030” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.
The incidence of cancer in the Asia Pacific, according to the statistics by the World Health Organization (WHO), is projected to touch 15.1 Million by the end of 2040. Moreover, in the year 2020, the incidence of the disease was recorded to be 9.50 Million.
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The statistics portray the growing incidences of cancer cases in the Asia Pacific, which is raising the need amongst the individuals for the early detection and diagnosis of the disease. With the help of cancer screening devices and processes, different types of cancer disease can be identified at a very early stage, thereby helping the healthcare service providers to prescribe the right medicine to their patients at the right time. Such a factor is anticipated to drive the growth of the Asia Pacific cancer screening market in the coming years.
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 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. The market is segmented by screening type into laboratory tests, genetic tests, imaging, biopsy, endoscopy, and others. The imaging segment, amongst all the other segments, is projected to garner the largest revenue of USD 52365.97 Million by the end of 2030. Additionally, the segment generated a revenue of USD 15039.41 Million in the year 2020.
By country, 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 which, the market in China is anticipated to garner the largest revenue of USD 62861.21 Million by the end of 2030. Additionally, the market in the nation generated a revenue of USD 17376.75 Million in the year 2020.
However, the high costs associated with cancer disease imaging systems, and the lack of skilled technicians for performing screening of the disease are some of the major factors predicted to hinder the market growth in the coming years.
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 comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Asia Pacific Cancer Screening Market: Demand Analysis & Opportunity Outlook 2030”, analyses the overall Asia Pacific cancer screening industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the Asia Pacific cancer screening market in the near future.
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