The global cancer diagnostics market is expected to reach an estimated value of $168.6 billion in 2020, according to a report from Transparency Market Research.
The market was valued at $101 billion in 2013 and is expected to grow at a compound annual growth rate of 7.6 percent from 2014 to 2020.
The market includes the following segments: tumor marker tests, imaging modalities, endoscopies and biopsies. It is expected that the global market for cancer imaging diagnosis will grow at a CAGR of 8.2 percent from 2014 to 2020.
North America is the dominant regional market for cancer diagnostics with a share of approximately 40.7 percent of the overall cancer diagnostics market in terms of revenue in 2013. However, the changing regulatory scenario among the high-growth countries in the Asia Pacific is also attracting leading companies in the cancer diagnostics market, according to the report.
More articles on gastroenterology:
Cantel Medical names Jorgen Hansen president, COO
Hanover Gastroenterology expands
GI physician to know: Dr. David Rubin of University of Chicago Medicine