A recent market study conducted by a rapidly expanding market research and consulting business predicts that by 2022, the global melanoma cancer diagnostics market will have grown at a CAGR of over 7% and generated sales of over US$ 853.5 million. Fact. According to MR’s analysis, the most attractive markets for melanoma cancer diagnostics worldwide will continue to be North America and Europe.
With global revenue exceeding US$ 800 million in 2018, the melanoma cancer diagnostics market is being pushed by an increasing emphasis on early detection and prevention.
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Important conclusions from Fact.report MR’s include:
- The U.S. melanoma cancer diagnostics market will grow at over 7% CAGR and reach US$ 409.2 Mn by 2022. By test type, BRAF mutation segment will continue to be the leading segment.
- Germany is one of the largest markets for melanoma cancer diagnostics in Europe. Fact.MR projects the Germany melanoma cancer diagnostics market to grow at 7.4% CAGR through 2022. Hospital associated labs are the largest end-users of melanoma cancer diagnostics in Germany. The market in United Kingdom will grow at a higher rate than Germany, but it will be continue to be smaller in market size.
- The market will be positive influenced by increasing R&D on cancer diagnosis and management. Increasing prevalence of melanoma and effective immunotherapies are expected to drive growth of the market globally.
- Although the outlook on the global melanoma cancer diagnostics market is positive, limited funds in emerging countries, combined with challenges surrounding regulatory issues can stymie growth during the forecast period.
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- By test type, BRAF mutation segment will account for a significant share of global revenues. This test type will continue to be used widely in major markets of North America and Europe. The CTC segment, on the other hand, is projected to grow at a higher CAGR than BRAF segment. Immunohistochemistry, another test type, is projected to grow at over 6% CAGR in the global melanoma cancer diagnostics market.
- The key end-use segments of the global melanoma cancer diagnostics market have been identified as hospital associated labs, cancer research institutes, and independent diagnostic laboratories. Among these, the hospital associated labs end-use segment is the most prominent globally. According to Fact.MR’s research, hospital associated labs will remain the largest end-users for melanoma cancer diagnostics market during the forecast period.
- Demand is also expected to remain steady from independent diagnostic laboratories segment. In North America, demand from this segment is expected to surpass US$ 100 million by 2022. The trend will also remain strong in Europe, with this segment growing at nearly 8% CAGR during the forecast period.
- Leading companies profiled in the report include Cancer Genetics, Inc., Myriad Genetics Inc. Abbott Laboratories, Foundation Medicine, Inc., and Pathway Genomics Corporation
Diagnostics for melanoma cancer: market segmentation
- Fluorescent In Situ Hybridization (FISH) Tests are a type of test.
- Immunohistochemical (IHC) tests and Comparative Genomic Hybridization (CGH) tests
- Finished Hospitals laboratories for pathology
- Centers for Cancer Research
- The Americas
- South America
- Russia & the CIS
- Asia-Pacific \sJapan
- Europe, Asia, and Africa
Adoption is fueled by government programmes for skin cancer early detection and treatment.
With a rise in melanoma related deaths across various countries, melanoma diagnostics and therapeutics is significantly increasing.
Government initiatives, along with the advancement in technology is also driving the growth of melanoma cancer diagnostics. Notable initiatives include,
- European Skin Care Foundation (ESCF) is strongly focusing on establishing skin cancer centers across Europe. ESCF is also supporting research activities with an emphasis on innovative modalities for diagnosis and treatment.
- To effectively manage melanoma in New Zealand and Australia, initiatives have been taken by governments in both the countries for early detection and holistic treatment. The Ministry of Health in New Zealand has established National Cancer Program to provide high quality and timely treatment for cancer.
- The Ministry of Health in New Zealand, in partnership with various institutions, is likely to hold cancer control conference in 2019 to discuss major challenges and identify possible solutions.
- The Department of Health in Australia review of evidence on effectiveness of public awareness campaigns to increase awareness for need of skin checks among people, with strategies to target high risk groups.
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