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Oral Cancer Diagnostics Market Growth Projections and Opportunities
Cancer is when cells in the body grow uncontrollably, causing damage to nearby tissues. Oral cancer specifically refers to painful lumps or growths in the mouth that affect the surrounding tissues. This type of cancer includes conditions like lip, tongue, cheek, hard and soft palate, floor of the mouth, pharynx, and sinus cancers. While oral cancer can be treated, it can be life-threatening if not detected early and treated properly. Diagnosing oral cancer is crucial because the treatment depends on the stage of cancer. The earlier the diagnosis, the easier it is to manage the cancerous growth. Various diagnostic tests, such as computed tomography (CT), magnetic resonance imaging (MRI), X-ray, and ultrasonography, are commonly used for the diagnosis of oral cancer. The market for oral cancer diagnostics is growing due to factors like an increase in the population suffering from oral cancer, effective diagnostic tools, ongoing research and development, and a rise in risk factors leading to oral cancers. However, challenges include a shortage of trained professionals and healthcare organizations facing difficulties in purchasing expensive imaging systems, which may limit market growth. The global oral cancer diagnostics market, valued at USD 4,909.60 million in 2018, is estimated to reach USD 7,367.90 million by 2024. In 2018, the Americas held the largest market share at 42.40%, with a value of USD 2,081.67 million, followed by Europe with USD 1,382.05 million. In terms of indication, the oral squamous cell carcinoma segment held the largest market share of 89.02% in 2018, with a value of USD 4,370.55 million. This segment is projected to grow at a CAGR of 21.13% during the forecast period. Regarding diagnosis type, the computed tomography (CT) segment had the largest market share of 30.07% in 2018, with a value of USD 1,476.13 million. It is expected to register a CAGR of 7.16% during the forecast period. On the basis of end user, the hospitals and clinics segment dominated the market, accounting for a share of 45.81% in 2018, with a value of USD 2,249.08 million. This segment is anticipated to register a CAGR of 7.56% during the forecast period. Covered Aspects:| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | 4.8% Base Year 2021 Forecast Period 2023-2032 Historical Data 2020 Forecast Units Value (USD Million Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends Segments Covered Indication, Diagnosis Type, End User Geographies Covered North America, Europe, Asia-Pacific, and Rest of the World (RoW) Key Vendors Thermo Fisher Scientific Inc. (U.S.), Hoffmann-La Roche Ltd (Switzerland), Vigilant Biosciences Inc. (U.S.), Koninklijke Philips NV (Netherlands), Hitachi Ltd (Japan), Philips NV (Netherlands), QIAGEN (Germany), E. Healthcare (U.S.), Recent Developments, Koninklijke Philips NV (Netherlands), PeriRx LLC (U.S.) Key Market Opportunities New product launches and R&D Amongst major key Players Key Market Drivers· Increasing number of cases in the sector of oral cancer· Growing pervasiveness for oral cancer· Increased technological advancements for better facilities· Diagnostic tools |
Oral Cancer Diagnostics Market Highlights:
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