Cancer Diagnostics Market Analysis North America,Europe,APAC,Rest of World (ROW) - US,Canada,China,Germany,France - Size and Forecast 2023-2027

Published: Oct 2023 Pages: 160 SKU: IRTNTR75667

Cancer Diagnostics Market Forecast 2023-2027

The Global Cancer Diagnostics Market size is forecast to increase by USD 12.63 billion at a CAGR of 11.3% between 2022 and 2027. Several factors influence the market's growth, such as the high prevalence of cancer, the increasing demand for personalized medicines, and the necessity for cost-cutting in drug discovery and development. However, certain challenges hinder market growth, including the high cost of developing companion diagnostics and a shortage of skilled personnel for complex cancer diagnosis methods. Nevertheless, trends like increased R&D and technological advancements, along with the adoption of strategies such as licensing agreements and product commercialization, are driving the market's progress. 

What will be the Size of the market During the Forecast Period?

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The market is propelled by the increasing utilization of biomarkers and proteins for the early detection and monitoring of various cancers. Diagnostic testing, including MRD testing, plays a crucial role in identifying cancerous tumors and tracking disease progression. Leading companies like Quest Diagnostics, Haystack Oncology, and Blue Earth Diagnostics are pioneering innovative diagnostic solutions, particularly in areas such as PSMA testing for prostate cancer. With a focus on addressing different types of cancer, including skin, kidney, pancreatic, ovarian, and liver cancer, the market aims to improve patient outcomes through early detection and personalized treatment strategies.

Market Dynamics and Customer Landscape

The market is witnessing substantial growth due to increased research in diagnostic technologies and the rising incidence worldwide. Private diagnostic laboratories and centers play a vital role in conducting diagnostic imaging procedures, including colorectal cancer screening. Advanced technology, such as refurbished diagnostic imaging systems, aids in accurate diagnosis. Biomarkers, including proteins, help in detecting cancerous tumors and monitoring disease progression. Leading companies like Quest Diagnostics, Haystack Oncology, and Blue Earth Diagnostics are driving innovations, particularly in MRD testing and PSMA detection for various cancers like skin, kidney, pancreatic, ovarian, and liver cancer. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

One of the key factors driving the global market growth is the high prevalence of cancer. There have been increasing cases of cancer due to factors such as unhealthy food habits, physical inactivity, and excessive tobacco and alcohol consumption which can cause lung, stomach, kidney, head, neck, and larynx cancer.

Additionally, other several factors such as exposure to ionizing radiations, chemical mutagens, infectious micro-organisms, and environmental pollutants can also lead to cancers. One of the popular methods of identifying cancer includes molecular and companion diagnostics.

Significant Market Trends

A key factor shaping the market growth is the increase in R and D and advances in technology. There has been an increase in investments by several Companies in R and D to develop novel diagnostic devices for cancer diagnosis and treatment. One such approach is the development of nanoparticle-based cancer theranostics using gold nanoparticles.

This approach helps to effectively monitor the target tumor and provides a better understanding of the effect of cancer drugs on the tumor. In addition, several other developments in technology help physicians detect and quantify specific DNA or RNA sequences and proteins for early diagnosis and treatment of diseases, thereby improving clinical outcomes. Hence, such advancements in technology are expected to drive the market growth and trends during the forecast period.

Major Market Challenge

The high cost of developing companion diagnostics is one of the key challenges hindering market growth. Biomarkers are biomolecules in the human body and are one of the key components that help in the identification of various medical conditions that can be measured biologically by increasing their use as diagnostic tools.

But, the initial cost of biomarker development is especially high as the development of novel and useful biomarkers is an expensive, tedious, and time-consuming process. It involves the formation of technology platforms, and then advancing to specific applications. Factors such as the need for advanced technologies and highly skilled specialists for their work is significantly contributing to the high cost. Hence, such factors are expected to hinder the market growth during the forecast period.

Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market research and growth report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.

Customer Landscape

Who are the Major Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Abbott Laboratories: The company offers cancer diagnostics of comprehensive tumor markers and harmonized instrument families to provide laboratories with clinically relevant results for the most debilitating, costly, and commonly occurring cancers.

The market growth analysis report also includes detailed analyses of the competitive landscape of the market and information about 20 market Companies, including:

  • Agilent Technologies Inc.
  • Astellas Pharma Inc.
  • Becton Dickinson and Co.
  • bioMerieux SA
  • Bristol Myers Squibb Co.
  • Eli Lilly and Co.
  • F. Hoffmann La Roche Ltd.
  • General Electric Co.
  • GlaxoSmithKline Plc
  • Hologic Inc.
  • Illumina Inc.
  • Merck KGaA
  • Myriad Genetics Inc.
  • Novartis AG
  • Pfizer Inc.
  • QIAGEN NV
  • Quest Diagnostics Inc.
  • Siemens AG
  • Thermo Fisher Scientific Inc.

Qualitative and quantitative analysis of Companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize Companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize Companies as dominant, leading, strong, tentative, and weak.

Market Segmentation

The end-user segment of the market comprises various entities, including private diagnostic laboratories, centers, and public hospitals. With the rising incidence of cancer worldwide, these facilities play a crucial role in providing diagnostic imaging procedures and laboratory tests to cancer patients. Private diagnostic centers often utilize refurbished diagnostic imaging systems and consumables to conduct screening and diagnostic procedures efficiently. Public hospitals also contribute significantly to cancer diagnosis, offering a range of diagnostic services to patients. Overall, these end-users work together to facilitate early detection and accurate diagnosis of cancer, thereby improving patient outcomes and survival rates.

By End-user

The market share growth by the hospitals and clinics segment will be significant during the forecast period. Some of the key benefits provided by the cancer diagnostic across hospitals and clinics across multiple levels include improved patient care and satisfaction, enhanced operations at POC (Point of care), and facilitating cost savings by strengthening the operational bottom line.

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The hospitals and clinics segment was valued at USD 6.05 billion in 2017 and continued to grow until 2021. Factors such as growing cases of chronic cancer and the presence of skilled professionals have significantly contributed to the revenue of the hospital segment in the year 2021. Additionally, other factors which significantly contributed to the growth of the global market include chronic diseases such as different types of cancer, such as cervical, head, and neck, lung, skin, colorectal cancer, etc., and availability of skilled medical professionals who can accurately diagnose the medical condition using various types of rapid diagnostics devices. Thus, such factors have significantly contributed to the growth of the segment which in turn will contribute to the global market growth during the forecast period.

Regional Analysis

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North America is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. One of the main factors for the growth of the global market in North America is due to factors such as the presence of many established medical facilities like NYU Langone Hospitals, New York, NY, Mayo Clinic, Rochester, and Mayo Clinic Rochester, Memorial Sloan Kettering Cancer Center, NY, etc, have state-of-the-art infrastructure and offer advanced treatment solutions in the region. As the medical facilities in the region emphasize cancer diagnostics to treat various types of cancers it has led to the demand for personalized medicines and the development of associated cancer diagnostics. Hence, such factors are expected to drive the global market growth in the region during the forecast period.

Market Analyst Overview

The market is witnessing significant growth due to the rising incidence of cancer worldwide. Both private diagnostic laboratories and private diagnostic centers play crucial roles in conducting diagnostic imaging procedures and laboratory tests for cancer detection. While public hospitals also contribute to cancer diagnosis, cancer screening, especially for diseases like colorectal cancer, remains vital. The market sees a demand for refurbished diagnostic imaging systems to support diagnostics. Cancer patients benefit from these advanced diagnostics, which often require specific consumables tailored to the screening type and the nature of the cancerous tumor. Overall, the market thrives on advancements in diagnostic testing technologies and methodologies.

The market continues to advance with innovations aimed at enhancing colorectal cancer screening and detecting diseases at various stages of disease progression. Companies like Haystack Oncology and Blue Earth Diagnostics contribute to the market with cutting-edge technologies such as MRD testing and PSMA imaging for improved diagnosis of cancers like kidney cancer, pancreatic cancer, ovarian cancer, and liver cancer. Colorectal cancer screening methods are evolving, offering more accurate detection and early intervention opportunities. 

The market is driven by a range of instruments and IVD testing methods, including imaging-based techniques and biopsy procedures, aimed at detecting various types of cancer. Companies like GE Healthcare are at the forefront, providing innovative solutions to improve treatment outcomes. From tumor biopsy to endoscopic examination and surgery, diverse diagnostic approaches are utilized, complemented by genetic testing to assess individual risks. Despite increased public awareness and screening procedures, challenges persist, with prevalent factors such as prostate cancer, breast cancer, and lifestyle habits like alcohol and tobacco use contributing to higher mortality rates. Early detection remains crucial, emphasizing the importance of genetic tests, biopsies, and endoscopy in combating cancer effectively.

Segment Overview

The market trends and analysis report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

  • End-user Outlook 
    • Hospitals and clinics
    • Diagnostic laboratories
  • Type Outlook 
    • IVD
    • Imaging
    • LDT
  • Geography Outlook 
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • Asia
      • China
      • India
    • ROW
      • Argentina
      • Australia
      • Rest of the ROW

Market Scope

Report Coverage

Details

Page number

160

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 11.3%

Market growth 2023-2027

USD 12.63 billion

Market structure

Fragmented

YoY growth 2022-2023(%)

11.18

Regional analysis

North America, Europe, APAC, and the Rest of the World (ROW)

Performing market contribution

North America at 43%

Key countries

US, Canada, China, Germany, and France

Competitive landscape

 Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

Abbott Laboratories, Agilent Technologies Inc., Astellas Pharma Inc., Becton Dickinson and Co., bioMerieux SA, Bristol Myers Squibb Co., Eli Lilly and Co., F. Hoffmann La Roche Ltd., General Electric Co., GlaxoSmithKline Plc, Hologic Inc., Illumina Inc., Merck KGaA, Myriad Genetics Inc., Novartis AG, Pfizer Inc., QIAGEN NV, Quest Diagnostics Inc., Siemens 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, and Market condition analysis for the forecast period.

Customization purview

If our market 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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What are the Key Data Covered in this Market Research Report?

  • CAGR of the market during the forecast period.
  • Detailed information on factors that will drive the market growth and forecasting between 2023 and 2027.
  • Precise estimation of the market size and its contribution to the market in focus on the parent market.
  • Accurate predictions about upcoming trends and changes in consumer behavior.
  • Market growth analysis across North America, Europe, APAC, and the Rest of the World (ROW).
  • A thorough market analysis and report of the market's competitive landscape and detailed information about Companies.
  • Market forecasting of factors that will challenge the growth of market Companies.

We can help! Our analysts can customize this market research report to meet your requirements. 

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global cancer diagnostics market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on global cancer diagnostics market 2017 - 2021 ($ million)
    • 4.2 End-user Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – End-user Segment 2017 - 2021 ($ million)
    • 4.3 Type Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ million)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by End-user

    • 6.1 Market segments
      • Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)
    • 6.2 Comparison by End-user
      • Exhibit 32: Chart on Comparison by End-user
      • Exhibit 33: Data Table on Comparison by End-user
    • 6.3 Hospitals and clinics - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Hospitals and clinics - Market size and forecast 2022-2027 ($ million)
      • Exhibit 35: Data Table on Hospitals and clinics - Market size and forecast 2022-2027 ($ million)
      • Exhibit 36: Chart on Hospitals and clinics - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Hospitals and clinics - Year-over-year growth 2022-2027 (%)
    • 6.4 Diagnostic laboratories - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Diagnostic laboratories - Market size and forecast 2022-2027 ($ million)
      • Exhibit 39: Data Table on Diagnostic laboratories - Market size and forecast 2022-2027 ($ million)
      • Exhibit 40: Chart on Diagnostic laboratories - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Diagnostic laboratories - Year-over-year growth 2022-2027 (%)
    • 6.5 Market opportunity by End-user
      • Exhibit 42: Market opportunity by End-user ($ million)
      • Exhibit 43: Data Table on Market opportunity by End-user ($ million)

    7 Market Segmentation by Type

    • 7.1 Market segments
      • Exhibit 44: Chart on Type - Market share 2022-2027 (%)
      • Exhibit 45: Data Table on Type - Market share 2022-2027 (%)
    • 7.2 Comparison by Type
      • Exhibit 46: Chart on Comparison by Type
      • Exhibit 47: Data Table on Comparison by Type
    • 7.3 IVD - Market size and forecast 2022-2027
      • Exhibit 48: Chart on IVD - Market size and forecast 2022-2027 ($ million)
      • Exhibit 49: Data Table on IVD - Market size and forecast 2022-2027 ($ million)
      • Exhibit 50: Chart on IVD - Year-over-year growth 2022-2027 (%)
      • Exhibit 51: Data Table on IVD - Year-over-year growth 2022-2027 (%)
    • 7.4 Imaging - Market size and forecast 2022-2027
      • Exhibit 52: Chart on Imaging - Market size and forecast 2022-2027 ($ million)
      • Exhibit 53: Data Table on Imaging - Market size and forecast 2022-2027 ($ million)
      • Exhibit 54: Chart on Imaging - Year-over-year growth 2022-2027 (%)
      • Exhibit 55: Data Table on Imaging - Year-over-year growth 2022-2027 (%)
    • 7.5 LDT - Market size and forecast 2022-2027
      • Exhibit 56: Chart on LDT - Market size and forecast 2022-2027 ($ million)
      • Exhibit 57: Data Table on LDT - Market size and forecast 2022-2027 ($ million)
      • Exhibit 58: Chart on LDT - Year-over-year growth 2022-2027 (%)
      • Exhibit 59: Data Table on LDT - Year-over-year growth 2022-2027 (%)
    • 7.6 Market opportunity by Type
      • Exhibit 60: Market opportunity by Type ($ million)
      • Exhibit 61: Data Table on Market opportunity by Type ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 63: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 64: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 65: Chart on Geographic comparison
      • Exhibit 66: Data Table on Geographic comparison
    • 9.3 North America - Market size and forecast 2022-2027
      • Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.4 Europe - Market size and forecast 2022-2027
      • Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.5 APAC - Market size and forecast 2022-2027
      • Exhibit 75: Chart on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 76: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 77: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 78: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.6 Rest of World (ROW) - Market size and forecast 2022-2027
      • Exhibit 79: Chart on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
      • Exhibit 80: Data Table on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
      • Exhibit 81: Chart on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
      • Exhibit 82: Data Table on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
    • 9.7 US - Market size and forecast 2022-2027
      • Exhibit 83: Chart on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 84: Data Table on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 85: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 86: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.8 Germany - Market size and forecast 2022-2027
      • Exhibit 87: Chart on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 88: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 89: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 90: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.9 Canada - Market size and forecast 2022-2027
      • Exhibit 91: Chart on Canada - Market size and forecast 2022-2027 ($ million)
      • Exhibit 92: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
      • Exhibit 93: Chart on Canada - Year-over-year growth 2022-2027 (%)
      • Exhibit 94: Data Table on Canada - Year-over-year growth 2022-2027 (%)
    • 9.10 China - Market size and forecast 2022-2027
      • Exhibit 95: Chart on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 96: Data Table on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 97: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 98: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.11 France - Market size and forecast 2022-2027
      • Exhibit 99: Chart on France - Market size and forecast 2022-2027 ($ million)
      • Exhibit 100: Data Table on France - Market size and forecast 2022-2027 ($ million)
      • Exhibit 101: Chart on France - Year-over-year growth 2022-2027 (%)
      • Exhibit 102: Data Table on France - Year-over-year growth 2022-2027 (%)
    • 9.12 Market opportunity by geography
      • Exhibit 103: Market opportunity by geography ($ million)
      • Exhibit 104: Data Tables on Market opportunity by geography ($ million)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 105: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 106: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 107: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 108: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 109: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 110: Matrix on vendor position and classification
            • 12.3 Abbott Laboratories
              • Exhibit 111: Abbott Laboratories - Overview
              • Exhibit 112: Abbott Laboratories - Business segments
              • Exhibit 113: Abbott Laboratories - Key news
              • Exhibit 114: Abbott Laboratories - Key offerings
              • Exhibit 115: Abbott Laboratories - Segment focus
            • 12.4 Agilent Technologies Inc.
              • Exhibit 116: Agilent Technologies Inc. - Overview
              • Exhibit 117: Agilent Technologies Inc. - Business segments
              • Exhibit 118: Agilent Technologies Inc. - Key offerings
              • Exhibit 119: Agilent Technologies Inc. - Segment focus
            • 12.5 Becton Dickinson and Co.
              • Exhibit 120: Becton Dickinson and Co. - Overview
              • Exhibit 121: Becton Dickinson and Co. - Business segments
              • Exhibit 122: Becton Dickinson and Co. - Key news
              • Exhibit 123: Becton Dickinson and Co. - Key offerings
              • Exhibit 124: Becton Dickinson and Co. - Segment focus
            • 12.6 Bristol Myers Squibb Co.
              • Exhibit 125: Bristol Myers Squibb Co. - Overview
              • Exhibit 126: Bristol Myers Squibb Co. - Product / Service
              • Exhibit 127: Bristol Myers Squibb Co. - Key news
              • Exhibit 128: Bristol Myers Squibb Co. - Key offerings
            • 12.7 Eli Lilly and Co.
              • Exhibit 129: Eli Lilly and Co. - Overview
              • Exhibit 130: Eli Lilly and Co. - Product / Service
              • Exhibit 131: Eli Lilly and Co. - Key news
              • Exhibit 132: Eli Lilly and Co. - Key offerings
            • 12.8 F. Hoffmann La Roche Ltd.
              • Exhibit 133: F. Hoffmann La Roche Ltd. - Overview
              • Exhibit 134: F. Hoffmann La Roche Ltd. - Business segments
              • Exhibit 135: F. Hoffmann La Roche Ltd. - Key news
              • Exhibit 136: F. Hoffmann La Roche Ltd. - Key offerings
              • Exhibit 137: F. Hoffmann La Roche Ltd. - Segment focus
            • 12.9 General Electric Co.
              • Exhibit 138: General Electric Co. - Overview
              • Exhibit 139: General Electric Co. - Business segments
              • Exhibit 140: General Electric Co. - Key news
              • Exhibit 141: General Electric Co. - Key offerings
              • Exhibit 142: General Electric Co. - Segment focus
            • 12.10 GlaxoSmithKline Plc
              • Exhibit 143: GlaxoSmithKline Plc - Overview
              • Exhibit 144: GlaxoSmithKline Plc - Business segments
              • Exhibit 145: GlaxoSmithKline Plc - Key news
              • Exhibit 146: GlaxoSmithKline Plc - Key offerings
              • Exhibit 147: GlaxoSmithKline Plc - Segment focus
            • 12.11 Hologic Inc.
              • Exhibit 148: Hologic Inc. - Overview
              • Exhibit 149: Hologic Inc. - Business segments
              • Exhibit 150: Hologic Inc. - Key news
              • Exhibit 151: Hologic Inc. - Key offerings
              • Exhibit 152: Hologic Inc. - Segment focus
            • 12.12 Illumina Inc.
              • Exhibit 153: Illumina Inc. - Overview
              • Exhibit 154: Illumina Inc. - Business segments
              • Exhibit 155: Illumina Inc. - Key news
              • Exhibit 156: Illumina Inc. - Key offerings
              • Exhibit 157: Illumina Inc. - Segment focus
            • 12.13 Merck KGaA
              • Exhibit 158: Merck KGaA - Overview
              • Exhibit 159: Merck KGaA - Business segments
              • Exhibit 160: Merck KGaA - Key news
              • Exhibit 161: Merck KGaA - Key offerings
              • Exhibit 162: Merck KGaA - Segment focus
            • 12.14 Novartis AG
              • Exhibit 163: Novartis AG - Overview
              • Exhibit 164: Novartis AG - Business segments
              • Exhibit 165: Novartis AG - Key offerings
              • Exhibit 166: Novartis AG - Segment focus
            • 12.15 QIAGEN NV
              • Exhibit 167: QIAGEN NV - Overview
              • Exhibit 168: QIAGEN NV - Product / Service
              • Exhibit 169: QIAGEN NV - Key news
              • Exhibit 170: QIAGEN NV - Key offerings
            • 12.16 Quest Diagnostics Inc.
              • Exhibit 171: Quest Diagnostics Inc. - Overview
              • Exhibit 172: Quest Diagnostics Inc. - Business segments
              • Exhibit 173: Quest Diagnostics Inc. - Key offerings
              • Exhibit 174: Quest Diagnostics Inc. - Segment focus
            • 12.17 Thermo Fisher Scientific Inc.
              • Exhibit 175: Thermo Fisher Scientific Inc. - Overview
              • Exhibit 176: Thermo Fisher Scientific Inc. - Business segments
              • Exhibit 177: Thermo Fisher Scientific Inc. - Key news
              • Exhibit 178: Thermo Fisher Scientific Inc. - Key offerings
              • Exhibit 179: Thermo Fisher Scientific Inc. - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 180: Inclusions checklist
                • Exhibit 181: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 182: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 183: Research methodology
                • Exhibit 184: Validation techniques employed for market sizing
                • Exhibit 185: Information sources
              • 13.5 List of abbreviations
                • Exhibit 186: List of abbreviations
              • growth due to the increasing number of tests for infectious and chronic diseases: The incidence of infectious and chronic diseases has increased over the past decade. The outbreak of the COVID-19 pandemic in 2020 has increased the demand for laboratory testing for COVID-19 across the world. An increase in demand for laboratory testing for infectious diseases, such as COVID-19 and chronic diseases, will be a driver for the life sciences tools and services industry in the future. The growth of the tools and services industry will continue to be strong in emerging markets such as China and India. Developed economies such as Japan and the EU will exhibit moderate growth rates.
                • product development to decrease prices: As the pricing pressure increases, life sciences tools manufacturers will have to rethink product development processes. A value first product design philosophy can help control costs and deliver what customers value the most.

                  Research Framework

                  Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                  INFORMATION SOURCES

                  Primary sources

                  • Manufacturers and suppliers
                  • Channel partners
                  • Industry experts
                  • Strategic decision makers

                  Secondary sources

                  • Industry journals and periodicals
                  • Government data
                  • Financial reports of key industry players
                  • Historical data
                  • Press releases

                  DATA ANALYSIS

                  Data Synthesis

                  • Collation of data
                  • Estimation of key figures
                  • Analysis of derived insights

                  Data Validation

                  • Triangulation with data models
                  • Reference against proprietary databases
                  • Corroboration with industry experts

                  REPORT WRITING

                  Qualitative

                  • Market drivers
                  • Market challenges
                  • Market trends
                  • Five forces analysis

                  Quantitative

                  • Market size and forecast
                  • Market segmentation
                  • Geographical insights
                  • Competitive landscape

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                  Key Questions Answered

                  • What are the key global market and the regional market share?
                  • What are the revenue-generating key market segments?
                  • What are the key factors driving and challenging this market’s growth?
                  • Who are the key market vendors and their growth strategies?
                  • What are the latest trends influencing the growth of this market?
                  • What are the variables influencing the market growth in the primary regions?
                  • What are the factors influencing the growth of the parent market?

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