The global cancer diagnostics market to reach US$ 136.3 Bn in 2029 growing at compound annual growth rate (CAGR) of 6.1% during the forecast period from 2021 to 2029. The prime factors driving the global cancer diagnostics market is the rising prevalence of cancer worldwide. As per the World Health Organization (WHO), cancer accounted for the second leading cause of mortality, claiming to 8.8 million deaths in 2015 globally. The National Cancer Institute estimated around 1,685,210 new cancer cases in 2019 in the United States. As per the Centers for Disease Control and Prevention (CDC), cancer cases anticipated to increase by 2 million each year by 2020.
The lyme disease diagnostics market plays a pivotal role in the early detection and treatment of Lyme disease, a vector-borne illness caused by the bacterium Borrelia burgdorferi. The lyme disease diagnostics market is expected to grow at a CAGR of 3.6% during the forecast period of 2024 to 2032, driven by the increasing incidence of Lyme disease, advancements in diagnostic technologies, and growing awareness. Despite the limitations in early-stage diagnosis, PCR tests are expected to lead in terms of CAGR.
Laryngoscopes Market Is Projected to Expand At A CAGR Of 5.1% Between 2023 And 2031. Laryngoscopy refers to the medical examination of the larynx for the purpose of visualization of vocal cords, upper tracheal rings etc. Laryngoscopes are used for diagnosis of voice disorders, ENT related pain, abnormalities and airway obstruction.
Yersinia is a gram-positive bacteria causing terminal ileitis, enterocolitis, acute diarrhea, mesenteric lymphadenitis, and sepsis. Species of Yersinia cause gastroenteritis and bubonic plague and are often observed in children, and men more than women. Moreover, the prevalence of bubonic plague and yersiniosis is reportedly high in North America, North Europe, and Scandinavian counties, therefore making these regions the largest markets for Yersinia diagnostics.
The development of capsule endoscopy in 2001 has given gastroenterologists the opportunity to examine the gastrointestinal tract in a non-invasive manner. Capsule endoscopy is a digital healthcare technology that can be utilized to detect gastrointestinal disorders such as gastroparesis, esophageal disease, gastrointestinal bleeding, and colon related diseases, followed by Crohn’s disease and polyposis syndrome. Capsule endoscopy has revolutionized the diagnosis of various parts of the GI system in a very simple manner. Medical professional can gain edge in observing the various parameters of gastrointestinal tract such as temperature, pressure, and pH with the help of capsule endoscopes.
Enteric diseases are caused by microscopic pathogens that enter the body through the mouth or intestinal route, fundamentally because of eating or drinking any contaminated foods or fluids. The immune system of the body and the strength of the pathogen cumulatively decide the fate of the infection whether it will be acute or chronic.
The global market for diagnostic testing is expected to surpass US $350 billion by 2030, expanding at a CAGR of 9% from 2023 to 2030.
Diagnostic tests are medical examinations performed to aid in the recognition or diagnosis of any disease. These tests are crucial for the management, surveillance, and prevention of any disease. These tests increase patient care, customer security, and healthcare expenditures. According to the study Non-communicable Illnesses Important Statistics from the World Health Organization (WHO), chronic diseases will be responsible for approximately 41 million deaths annually by April 2021, or 71 percent of all deaths worldwide. Hence, diagnostic tests have proved beneficial in the prevention, identification, and diagnosis of disease, as well as in the management of chronic sickness situations. By detecting individual risk factors and early warning signs, clinical diagnostics create new opportunities for early prevention and intervention. Thus, it is projected that the industry as a whole would continue to expand as the prevalence of chronic diseases rises.
The industry is expected to be driven by the increasing popularity of decentralized healthcare systems. In addition, it is predicted that the market would expand during the forecast period as a result of leading market players' adoption of new innovations and technical advancements in the sector. As a result of these reasons, the market for point-of-care diagnostics is predicted to expand in the future years. The aging of the world's population increases the likelihood of contracting a variety of diseases, including diabetes, cancer, cardiovascular disease, obesity, and neurological disorders. The United Nations projects that by 2020, 727 million people worldwide would be 65 or older. In addition, it is estimated that by 2050, there will be more than 1.5 billion individuals aged 80 and older, which is twice as many as there are today. The predicted growth in the global elderly population during the forecast period is likely to have a substantial impact on the market.
Acute Market Reports, a market research and consulting company remains the best choice for industry participants in the diagnostics domain. Acute Market Reports' clients gain from our forward-thinking research technique, which aids in the development of well-informed business decisions. With the help of our extensive network of business partners, we are able to offer innovative strategic research solutions to our global clients.
