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The brain tumor diagnostics market share is expected to increase by USD 177.66 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.89%.
This brain tumor diagnostics market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers brain tumor diagnostics market segmentation by type (imaging test, biopsy, molecular testing, and others) and geography (North America, Europe, Asia, and ROW). The brain tumor diagnostics market report also offers information on several market vendors, including Canon Inc., FUJIFILM Holdings Corp., General Electric Co., Hitachi Ltd., Hologic Inc., Koninklijke Philips NV, MDxHealth Group, Neusoft Medical Systems Co. Ltd., Siemens Healthineers AG, and Thermo Fisher Scientific Inc. among others.
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The increasing prevalence of brain cancer is notably driving the brain tumor diagnostics market growth, although factors such as unfavorable reimbursement scenarios may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the brain tumor diagnostics industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Brain Tumor Diagnostics Market Driver
One of the key factors driving the global brain tumor diagnostics market growth is the increasing prevalence of brain cancer. The delay in diagnosis often leads to the tumor becoming malignant. Although brain cancer is not a common type of cancer in adults and accounts for approximately 1.4% of all cancer cases in the US, the prevalence of the indication is still very high. For instance, in 2020, around 0.7 million people in the US were living with a primary brain tumor, and approximately 85,000 people were diagnosed in 2021. The number of new cases of brain tumors is estimated to be approximately 4,400 every year in the UK. Thus, the increasing mortality rate and the huge unmet need caused by the rising prevalence of the disease are expected to increase the use of brain tumor diagnostics for the treatment, which will drive the market growth during the forecast period.
Key Brain Tumor Diagnostics Market Trend
Another key factor driving the global brain tumor diagnostics market growth is the increase in research and development and advances in technology by vendors. The development of nanoparticle-based cancer theranostics using gold nanoparticles is one such novel approach. This approach helps in the effective monitoring of the target tumor and provides a better understanding of the effect of cancer drugs on the tumor. The technological advances led to the development of DNA sequencing, innovative biomarker discovery and drug delivery methods, in situ hybridization, chips and microarrays, mass spectrometry, next-generation sequencing, and capillary electrophoresis, which are very helpful in the treatment processes. Hence, the launch and availability of these therapeutics will lead to increased demand and use of brain tumor diagnostics in the market.
Key Brain Tumor Diagnostics Market Challenge
One of the key challenges to the global gummy vitamin market growth is the unfavorable reimbursement scenario. The focus on reducing healthcare expenditure by governments worldwide has increased the demand for molecular diagnostic tests that have increased the concerns for insurance coverage of these tests. Despite the strong value proposition of diagnostics, the low level of reimbursements provided for molecular diagnostics and the insufficient coverage for associated treatment options discourage patients from undergoing these tests. For instance, Medicare in the US previously used the code stacking method to provide reimbursements for molecular diagnostic tests. According to this method, the total expenditure on separate tests was compiled and paid by people, which was later reimbursed on the submission of authenticated bills. In 2013, Medicare dissolved this policy as many test laboratories were exploiting this payment scheme. Such factors are expected to challenge the market growth during the forecast period.
This brain tumor diagnostics market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global brain tumor diagnostics market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the brain tumor diagnostics market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the brain tumor diagnostics market encompasses successful business strategies deployed by the key vendors. The brain tumor diagnostics market is fragmented and the vendors are deploying growth strategies such as acquisitions and collaborations to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The brain tumor diagnostics market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the brain tumor diagnostics market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global healthcare equipment market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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43% of the market's growth will originate from North America during the forecast period. The US and Jamaica are the key markets for brain tumor diagnostics in North America. Market growth in this region will be faster than the growth of the market in other regions.
The significant increase in funding from government organizations for studies on personalized medicine in countries such as the US will facilitate the brain tumor diagnostics market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 adversely affected all countries in North America, especially the US. It also had a slight negative impact on the brain tumor diagnostics market in the region. Various non-urgent diagnosis tests, treatments, and clinical visits were conducted in either limited capacity or were closed as per the set guidelines in lockdown. However, by the second half of 2020, lockdown-related restrictions in various countries were relaxed to some extent, which allowed the movement of people, which helped in increasing the number of people going to diagnostic centers and hospitals. Thus, the resumption of healthcare equipment manufacturing operations will drive the demand for brain tumor diagnostic devices in North America, and the market is expected to register an accelerating growth momentum during the forecast period.
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The brain tumor diagnostics market share growth by the imaging test segment will be significant during the forecast period. The significant rise in the incidences of cancer and brain tumors will accelerate the demand and adoption of medical imaging, which will drive the market growth through this segment. Moreover, the growing number of product launches and merger and acquisition activities will further fuel the demand for medical imaging globally, during the same period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the brain tumor diagnostics market size and actionable market insights on post COVID-19 impact on each segment.
Brain Tumor Diagnostics Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.89% |
Market growth 2022-2026 |
$ 177.66 million |
Market structure |
Fragmented |
YoY growth (%) |
3.40 |
Regional analysis |
North America, Europe, Asia, and ROW |
Performing market contribution |
North America at 43% |
Key consumer countries |
US, Germany, UK, China, and Jamaica |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Canon Inc., FUJIFILM Holdings Corp., General Electric Co., Hitachi Ltd., Hologic Inc., Koninklijke Philips NV, MDxHealth Group, Neusoft Medical Systems Co. Ltd., Siemens Healthineers AG, and Thermo Fisher Scientific Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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***1. Executive Summary
**1.1 Market Overview
*Exhibit 01: Key Finding 1
*Exhibit 02: Key Finding 2
*Exhibit 03: Key Finding 3
*Exhibit 04: Key Finding 5
*Exhibit 05: Key Finding 6
*Exhibit 06: Key Finding 7
*Exhibit 07: Key Finding 8
***2. Market Landscape
**2.1 Market ecosystem
*Exhibit 08: Parent market
*Exhibit 09: Market Characteristics
**2.2 Value chain analysis
*Exhibit 10: Value chain analysis: Healthcare Equipment
*2.2.1 Research and development
*2.2.2 Inputs
*2.2.3 Operations
*2.2.4 Distribution
*2.2.5 Marketing and sales
*2.2.6 Post-sales and services
*2.2.7 Industry innovations
***3. Market Sizing
**3.1 Market definition
*Exhibit 11: Offerings of vendors included in the market definition
**3.2 Market segment analysis
*Exhibit 12: Market segments
**3.3 Market size 2021
**3.4 Market outlook: Forecast for 2021 - 2026
*Exhibit 13: Global - Market size and forecast 2021 - 2026 ($ million)
*Exhibit 14: Global market: Year-over-year growth 2021 - 2026 (%)
***4. Five Forces Analysis
**4.1 Five Forces Summary
*Exhibit 15: Five forces analysis 2021 & 2026
**4.2 Bargaining power of buyers
*Exhibit 16: Bargaining power of buyers
**4.3 Bargaining power of suppliers
*Exhibit 17: Bargaining power of suppliers
**4.4 Threat of new entrants
*Exhibit 18: Threat of new entrants
**4.5 Threat of substitutes
*Exhibit 19: Threat of substitutes
**4.6 Threat of rivalry
*Exhibit 20: Threat of rivalry
**4.7 Market condition
*Exhibit 21: Market condition - Five forces 2021
***5. Market Segmentation by Type
**5.1 Market segments
*The segments covered in this chapter are:
*Exhibit 22: Type - Market share 2021-2026 (%)
**5.2 Comparison by Type
*Exhibit 23: Comparison by Type
**5.3 Imaging test - Market size and forecast 2021-2026
*Exhibit 24: Imaging test - Market size and forecast 2021-2026 ($ million)
*Exhibit 25: Imaging test - Year-over-year growth 2021-2026 (%)
**5.4 Biopsy - Market size and forecast 2021-2026
*Exhibit 26: Biopsy - Market size and forecast 2021-2026 ($ million)
*Exhibit 27: Biopsy - Year-over-year growth 2021-2026 (%)
**5.5 Molecular testing - Market size and forecast 2021-2026
*Exhibit 28: Molecular testing - Market size and forecast 2021-2026 ($ million)
*Exhibit 29: Molecular testing - Year-over-year growth 2021-2026 (%)
**5.6 Others - Market size and forecast 2021-2026
*Exhibit 30: Others - Market size and forecast 2021-2026 ($ million)
*Exhibit 31: Others - Year-over-year growth 2021-2026 (%)
**5.7 Market opportunity by Type
*Exhibit 32: Market opportunity by Type
***6. Customer landscape
**6.1 Overview
*Exhibit 33: Customer landscape
***7. Geographic Landscape
**7.1 Geographic segmentation
*The regions covered in the report are:
*Exhibit 34: Market share by geography 2021-2026 (%)
**7.2 Geographic comparison
*Exhibit 35: Geographic comparison
**7.3 North America - Market size and forecast 2021-2026
*Exhibit 36: North America - Market size and forecast 2021-2026 ($ million)
*Exhibit 37: North America - Year-over-year growth 2021-2026 (%)
**7.4 Europe - Market size and forecast 2021-2026
*Exhibit 38: Europe - Market size and forecast 2021-2026 ($ million)
*Exhibit 39: Europe - Year-over-year growth 2021-2026 (%)
**7.5 Asia - Market size and forecast 2021-2026
*Exhibit 40: Asia - Market size and forecast 2021-2026 ($ million)
*Exhibit 41: Asia - Year-over-year growth 2021-2026 (%)
**7.6 ROW - Market size and forecast 2021-2026
*Exhibit 42: ROW - Market size and forecast 2021-2026 ($ million)
*Exhibit 43: ROW - Year-over-year growth 2021-2026 (%)
**7.7 Key leading countries
*Exhibit 44: Key leading countries
**7.8 Market opportunity by geography
*Exhibit 45: Market opportunity by geography ($ million)
***8. Drivers, Challenges, and Trends
**8.1 Market drivers
*8.1.1 Increasing prevalence of brain cancer
*8.1.2 High morbidity of brain tumors
*8.1.3 Growing importance of tele-imaging
**8.2 Market challenges
*8.2.1 Unfavorable reimbursement scenario
*8.2.2 Stringent regulatory framework
*8.2.3 High cost of developing companion diagnostic
*Exhibit 46: Impact of drivers and challenges
**8.3 Market trends
*8.3.1 Increase in research and development, and advances in technology
*8.3.2 Integration of artificial intelligence (AI) with diagnostic imaging
*8.3.3 Focus on emerging countries
***9. Vendor Landscape
**9.1 Overview
*Exhibit 47: Vendor landscape
**9.2 Landscape disruption
*Exhibit 48: Landscape disruption
*Exhibit 49: Industry risks
**9.3 Competitive scenario
***10. Vendor Analysis
**10.1 Vendors covered
*Exhibit 50: Vendors covered
**10.2 Market positioning of vendors
*Exhibit 51: Market positioning of vendors
**10.3 Canon Inc.
*Exhibit 52: Canon Inc. - Overview
*Exhibit 53: Canon Inc. - Business segments
*Exhibit 54: Canon Inc. - Key offerings
*Exhibit 54: Canon Inc. - Key offerings
*Exhibit 55: Canon Inc. - Segment focus
**10.4 FUJIFILM Holdings Corp.
*Exhibit 56: FUJIFILM Holdings Corp. - Overview
*Exhibit 57: FUJIFILM Holdings Corp. - Business segments
*Exhibit 58: FUJIFILM Holdings Corp. - Key offerings
*Exhibit 59: FUJIFILM Holdings Corp. - Segment focus
**10.5 General Electric Co.
*Exhibit 60: General Electric Co. - Overview
*Exhibit 61: General Electric Co. - Business segments
*Exhibit 62: General Electric Co. - Key offerings
*Exhibit 63: General Electric Co. - Segment focus
**10.6 Hitachi Ltd.
*Exhibit 64: Hitachi Ltd. - Overview
*Exhibit 65: Hitachi Ltd. - Business segments
*Exhibit 66: Hitachi Ltd. - Key offerings
*Exhibit 67: Hitachi Ltd. - Segment focus
**10.7 Hologic Inc.
*Exhibit 68: Hologic Inc. - Overview
*Exhibit 69: Hologic Inc. - Business segments
*Exhibit 70: Hologic Inc. - Key offerings
*Exhibit 71: Hologic Inc. - Segment focus
**10.8 Koninklijke Philips NV
*Exhibit 72: Koninklijke Philips NV - Overview
*Exhibit 73: Koninklijke Philips NV - Business segments
*Exhibit 74: Koninklijke Philips NV - Key offerings
*Exhibit 75: Koninklijke Philips NV - Segment focus
**10.9 MDxHealth Group
*Exhibit 76: MDxHealth Group - Overview
*Exhibit 77: MDxHealth Group - Business segments
*Exhibit 78: MDxHealth Group - Key offerings
*Exhibit 79: MDxHealth Group - Segment focus
**10.10 Neusoft Medical Systems Co. Ltd.
*Exhibit 80: Neusoft Medical Systems Co. Ltd. - Overview
*Exhibit 81: Neusoft Medical Systems Co. Ltd. - Product and service
*Exhibit 82: Neusoft Medical Systems Co. Ltd. - Key offerings
**10.11 Siemens Healthineers AG
*Exhibit 84: Siemens Healthineers AG - Business segments
*Exhibit 85: Siemens Healthineers AG - Key news
*Exhibit 86: Siemens Healthineers AG - Key offerings
*Exhibit 87: Siemens Healthineers AG - Segment focus
**10.12 Thermo Fisher Scientific Inc.
*Exhibit 88: Thermo Fisher Scientific Inc. - Overview
*Exhibit 89: Thermo Fisher Scientific Inc. - Business segments
*Exhibit 90: Thermo Fisher Scientific Inc. - Key offerings
*Exhibit 91: Thermo Fisher Scientific Inc. - Segment focus
***11. Appendix
**11.1 Scope of the report
*11.1.1 ????Market definition
*11.1.2 Objective
*11.1.3 Notes and caveats
**11.2 Currency conversion rates for US$
*Exhibit 92: Currency conversion rates for US$
**11.3 Research Methodology
*Exhibit 93: Research Methodology
*Exhibit 94: Validation techniques employed for market sizing
*Exhibit 95: Information sources
**11.4 List of abbreviations
*Exhibit 96: List of abbreviations
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