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Metastatic Melanoma Cancer Diagnostics Market Segmented By Biopsy, Chest, X-ray, Ultrasound, CT Scan, MRI, PET Scan Test in Hospitals, Pathology Laboratories, Cancer Research Centers
Worldwide revenue from the metastatic melanoma cancer diagnostics market stands at US$ 3.2 Bn in 2022, with the global market estimated to surge ahead at a CAGR of 7.8% to reach a valuation of US$ 7.2 Bn by the end of 2033.
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Metastatic Melanoma Cancer Diagnostics Market Size (2022) |
US$ 3.2 Bn |
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Projected Market Value (2033) |
US$ 7.2 Bn |
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Global Market Growth Rate (2023-2033) |
7.8% CAGR |
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Market Share of Top 5 Countries |
71.1% |
As assessed by Persistence Market Research, PET scan services are expected to hold a market value of US$ 2.3 Bn by 2033. Overall, metastatic melanoma cancer diagnostics market sales account for approximately 2.5% revenue share in the global cancer diagnostics market, which was valued at around US$ 125.0 Bn in 2022.
Emerging economies such as India and China are more concerned with cost-effective therapy and diagnostics. Such areas present an excellent potential for the use of economical diagnostic therapies.
Rising investments in the healthcare sector in developing nations are expected to raise demand for metastatic melanoma diagnostics. Increased government R&D programmes are projected to provide significant opportunities in the growing regions for the metastatic diagnostics market.
According to the Indian Journal of Cancer, just 3% of metastatic melanoma cases are diagnosed, compared to 75% of skin cancer deaths in developing countries. At the same time, the Asia-Pacific area, including Australia, has a high incidence rate of skin cancer.
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The global market for metastatic melanoma cancer diagnostics recorded a historic CAGR of 5.2% in the last 6 years from 2016 to 2022.
Magnetic resonance imaging (MRI), computed tomography (CT), and positron emission tomography (PET) are all becoming more popular around the world. These cutting-edge technologies improve diagnostic sensitivity and specificity by shortening acquisition times and providing precision in correction of attenuated data and fusion imaging.
Better cancer staging is feasible thanks to computed tomography, which may also track a patient's prognosis and response to treatment.
These advantages have increased the use of computed tomography in cancer screening programmes dramatically. A CT scan is essential for early diagnosis, staging, and monitoring therapy response.
Multimodality imaging techniques may further modify the acceptance of diagnostic imaging techniques due to its application in developing a specialized treatment plan for personalised treatment.
Along with the growing demand for minimally invasive or non-invasive surgical techniques, minimally invasive or non-invasive diagnostics have become more common. Diagnostics that require minimal to no physical intervention assist the doctor in better planning therapeutic operations.
Surgery is utilised in the minimally invasive technique for surgical diagnosis, which also shortens the time it takes for wounds to heal, minimises the danger of infection and pain, and reduces the size of incisions required. A growing proportion of the elderly population now choose minimally invasive or non-invasive surgical diagnosis.
The acceptance of minimally invasive diagnosis has shifted dramatically, resulting in an increase in the demand for diagnostic instruments. As a result, businesses are motivated to develop products that are more sophisticated. The market for metastatic melanoma cancer diagnostics is projected to rise because of the increasing demand.
The global market is thus likely to show high growth over the coming years at a CAGR of 7.8% and reach a global market size of US$ 7.2 Bn by 2033.
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The development of effective cancer screening tools will considerably aid in early detection and, as a result, a reduction in mortality. Cancer screening and awareness have increased during the last few decades, leading to earlier cancer diagnosis.
However, the ultimate goal of minimising the incidence of terminal illness and mortality has not been attained. This is primarily due to ineffective screening approaches that commonly produce false-positive and false-negative results.
Innovative diagnostic procedures that address these needs will swiftly gain popularity among both physicians and patients.
Melanoma patients may face significant impairments in their emotional, social, and professional productivity in developing nations such as Europe and the United States, where there are more cancer patients.
Despite socioeconomic concerns and health issues for other conditions taking priority, the development of more effective systemic treatment regimens over the last 20 years has helped boost the population that receives this disease's diagnosis and treatment.
The surge in nail-skin condition diagnoses has enhanced awareness of skin cancer diagnosis. Furthermore, as cancer patients and dermatologists become increasingly aware of the value of early detection, there is a greater need for reliable melanoma diagnosis. The aforementioned aspects are some of the key opportunities for industry development.
“Set-Up and Operational Cost Constraints”
The major barrier impeding market expansion is the extremely high cost of medical imaging equipment. PET-CT scans and computed tomography [CT] scans are quite expensive. In underdeveloped nations, a significant amount is spent on the infrastructure of a diagnostic room in addition to the equipment costs.
In many nations, the majority of patients are unable to obtain healthcare due to the high cost of services and expensive equipment. The capital expenses involved in establishing a diagnostic service are yet another barrier for these economies.
When comparing the price of diagnostics for metastatic melanoma cancer with the incomes in low- and middle-income countries, there is a significant financial burden on the populace, which restrains market growth in these areas.
The provision of effective and high-quality cancer care at an affordable price is a challenge for national healthcare authorities in many different countries as a result.
In addition, consumers in low- and middle-income countries are also price conscious and unable to afford relatively expensive equipment.
The main factors that are likely to impede expansion in the number of molecular diagnostic facilities in underdeveloped countries are low funding for operational costs and a shortage of personnel for these facilities. For the majority of educational, scientific, and clinical laboratories in underdeveloped nations, the cost of setting up a diagnostic laboratory is similarly exorbitant.
Therefore, it is anticipated that the high cost of establishing molecular diagnostic platforms will limit their use and impede the growth of the metastatic melanoma cancer diagnostics market.
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Why is the U.S. Market Booming?
“Growing R&D and Presence of Established Medical Device Players”
The U.S. accounted for around 84.5% market share in the North America market in 2022, and a similar trend is expected over the forecast period. Early detection is one of the primary reasons for the decreased cancer patient mortality rate in the United States.
The significant presence of medical device and biotechnology firms, as well as the availability of skilled technicians, are some of the key factors influencing the region's market growth. Other factors that contribute to market growth include extensive research & development and adequate funding.
Will Germany Be a Lucrative Market for Metastatic Melanoma Cancer Diagnostics Service Providers?
“Healthcare Reforms and Rising Disease Incidence”
Germany held around 29.5% market share of the Europe market in 2022. Malignant melanoma has been progressively increasing in Germany during the last few decades. The main reasons of this are increased life expectancy and altering leisure activities due to increased UV exposure. With reforms in healthcare system, as well as reallocation of healthcare expenditures within the country, Germany is emerging as a lucrative market for metastatic melanoma cancer diagnostics.
How is China Emerging as a Prominent Market for Metastatic Melanoma Cancer Diagnostics?
“Large Patient Pool”
China held market share of about 1.6% in the global market in 2022. According to GLOBOCAN 2018 estimates, 2,366,010 males and 1,919,023 females were among the 4,285,033 new cancer cases that were discovered in China in 2018.
All malignancies had crude incidence rates (CIR) of 301.1 and age-standardized incidence rates (ASIR) of 201.7 per 100,000, respectively. In 2018, an estimated 2,865,174 people died from cancer, with 1,791,805 of them being men and 1,073,369 of them being women. The rising cases of cancer within the region are propelling the market growth in China.
Which Test is Driving Growth of the Global Market?
“Device Efficiency and Low Error Rates”
The PET scan segment held around 32.3% share of the global market in 2022. PET scan has demonstrated its utility as an auxiliary imaging method in the advanced stages of metastatic melanoma cancer. Deep soft-tissue metastases, lymph node metastases, and visceral metastases are all found with PET scans. The majority of lesions in the lung, liver, or brain that PET overlooks are typically less than one centimetre in size. Thus, high accuracy of the test propels this segment as a dominant sector within the global market.
Which Service Provider Offers the Metastatic Melanoma Cancer Diagnostics Market a Profitable Outlook?
“Advanced Digital Operations for Screening and Diagnosis”
Pathology laboratories held the largest share of about 50.8% with a market value of around US$ 1.6 Bn in 2022. For cancer screening and detection, the majority of pathology labs have long used computational technologies. The laboratory information management system is used at every stage of the specimen's transit through the lab, from the time it is brought in until the final report is provided.
By combining more digital technology, the preanalytical, analytical, and postanalytical stages of this process can be made safer, better, and more productive. With advancements in technology, pathology laboratories provide informational insights on disease progression, thus facilitating the selection of appropriate treatment modalities.
Corporate collaborations among manufacturers of diagnostic products, hospitals, and research institutes for determining diagnostic test efficacy and post-diagnosis treatment are the primary tactics for expanding sales in the global market.
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Details |
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Forecast Period |
2023-2033 |
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Historical Data Available for |
2016-2022 |
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Market Analysis |
USD Million for Value |
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Key Countries Covered |
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Key Market Segments Covered |
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Report Coverage |
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Customization & Pricing |
Available upon Request |
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The global market is currently valued at around US$ 3.2 Bn in 2022.
Sales of metastatic melanoma cancer diagnostics are set to witness a high growth at a CAGR of 7.8% and be valued at around US$ 7.2 Bn by 2033.
Demand for metastatic melanoma cancer diagnostics increased at a 5.2% CAGR from 2016 to 2022.
The U.S., Canada, U.K., Australia, and Germany account for most demand for metastatic melanoma cancer diagnostics, currently holding around 71.1% market share.
The U.S. accounts for around 84.5% share of the North American market.
Latin America accounts for around 4.4% value share of the global market.
China market held a share of about 1.6% in the global market in 2022.
Germany held around 29.5% market share of the Europe market in 2022.
Brazil market is expected to grow at a 9.0% CAGR during the forecast period.
The metastatic melanoma cancer diagnostics market in India is set to expand at a 3.5% CAGR over the forecast period.
