Increase in Prevalence of Cancer Expected to Drive Europe Cancer Screening Market over the Forecast Period: Ken Research
Certain tests help find precise types of cancer before signs or symptoms appear, called cancer screening. It main goal is to reduce the number of people who develop the disease and reduce the number of people who die from disease & prevent deaths from cancer altogether. It involves urine tests, blood tests and medical imaging tests.
Some of the risk associated with cancer screening are increased testing, false positives test results, over diagnosis & over treatment and false reassurance.
According to study, “Europe Cancer Screening Market (2018-2023)” the key companies operating in the Europe cancer screening market are F. Hoffman-La- Roche Ltd, Johnson & Johnson, Bayer AG, Pfizer Inc., Merck & co., Abbott Laboratories Inc., Becton, Dickinson and Company, Agilent Technologies, GE Healthcare, C. R. Bard, Inc., Koninklijhe Philips N.V., Hologic Inc., Siemens Healthcare GmbH, Illumina, Inc., Thermo Fisher Scientific Inc., Qiagen. Healthcare professionals are focusing on expansion of effective screening solutions to check prevalence level. Early detection rises the success rate of treatment regimens. As a result, healthcare agencies & market players are promoting routine checkups through various awareness programs.
Based on screening procedure, cancer screening market is segmented into laboratory, imaging, biopsy, genetic, and endoscopy tests. All screening procedures includes some tests such as breast self-examination test, clinical breast examination test, Magnetic resonance imaging (MRI), mammography and others. Mammography is a most common & popular screening test employed for breast tumor screening. Based on genders, market is segmented into men and women. Based on application, market is segmented into lung, melanoma, kidney, breast, and colorectal cancer. Kidney segment is projected to witness lucrative growth owing to rise in consumption of tobacco & alcohol during the forecast period. In addition, based on end-use, market is segmented into laboratories, hospitals, and independent physicians & clinics.
The cancer screening market is driven by increase in prevalence of cancer, followed by rise in adoption of a sedentary lifestyle, increase in aging population, growth in focus of key players in the emerging economies, rise in government investments for research & development (R&D), improvement in healthcare infrastructure, and healthcare, huge patient population, growth in technological advancements & product innovations and change in environmental conditions. However, lack of associated funding & transparency in medical procedures and stringent regulations along with regulatory inter & intra state barriers may impact the market. Moreover, rise in artificial intelligence and forthcoming health revolution are key opportunities for market.
Based on geography, cancer screening market is categorized as France, United Kingdom (UK) and Germany. It is estimates that the market will be reached at rapid pace owing to increase in awareness about cancer and rise in government initiatives for funding in the region. Various organizations are undertaking many initiatives to spread awareness regarding benefits of early detection, breast cancer, and available treatment options. It is expected that future of the market will be bright due to rise in availability of funds for research over the forecast period. The market is anticipated to grow at a CAGR of approximately 8.1% resulting in an annual revenue of US $22.43 billion during the forecast period (2018-2023).
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Ankur Gupta, Head Marketing & Communications