Brain Cancer Diagnostics Market in 2024 Detailed Study Analysis

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Brain Cancer Diagnostics Market - (By Diagnostic Technique (Imaging Techniques (Magnetic Resonance Imaging (MRI), Computed Tomography (CT) Scan, PET Scan or PET-CT Scan, Single-photon Emission Computed Tomography (SPECT) Scan), Tissue Sampling/Biopsy, Molecular Diagnostics, Others), By Brain Cancer Type (Gliomas, Meningiomas, Pituitary tumors, Others), By End-Users (Hospitals, Diagnostic technique, Cancer hospitals)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Brain Cancer Diagnostics Market is valued at US$ 1.46 Billion in 2022, and it is expected to reach US$ 2.45 Billion by 2031, with a CAGR of 6.19% during the forecast period of 2023-2031.

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The diagnostic procedures for brain cancer encompass a range of approaches, including imaging investigations such as MRI and CT scans, biopsy (either stereotactic or surgical), lumbar puncture, PET scans, blood tests, genetic testing, neurological evaluations, and sophisticated imaging techniques like fMRI and DTI. These techniques facilitate the identification of the type, location, and features of brain tumours, thereby informing treatment decisions and tailored care plans.

The Brain Cancer Diagnostics market involves the application of diagnostic methods and technologies for identifying and assessing brain tumours. Brain cancer, also known as a brain tumour, refers to the abnormal development of cells in the brain, and timely and accurate diagnostics are crucial for effective treatment planning. Ongoing advancements in diagnostic technologies, especially in imaging and molecular diagnostics, contribute to improved accuracy and early detection. The increasing prevalence of brain cancer globally is a key driver for the growth of the diagnostics market. Factors such as ageing populations, environmental factors, and lifestyle changes contribute to the rising incidence. Continuous research and development activities aimed at identifying novel biomarkers and improving diagnostic techniques enhance the capabilities of brain cancer diagnostics. Growing awareness among healthcare professionals and the overall population about the importance of early detection and diagnosis of brain cancer drives the demand for diagnostic services. The cost associated with advanced diagnostic procedures can be challenging, impacting accessibility for some patients.

List of Prominent Players in the Brain Cancer Diagnostics Market:
• Thermo Fisher Scientific Inc.
• Siemens Healthineers AG
• GE Healthcare
• MDxHealth
• NantOmics
• Biocept, Inc.
• Koninklijke Philips N.V.
• Canon Medical Systems
• Hitachi, Ltd.
• Neusoft Medical Systems
• Abbott Laboratories
• Roche Holding AG
• Bio Rad Laboratories Inc.
• Illumina, Inc.
• Bristol-Myers Squibb
• Toshiba Medical Systems Corporation
• Agilent Technologies Inc.
• Hologic, Inc.
• Others

Market Dynamics:
Drivers-
Several key drivers propel the Brain Cancer Diagnostics market forward. Technological advancements play a pivotal role, with ongoing innovations enhancing diagnostic capabilities. Increased research and development activities contribute to improved diagnostic methods, fostering growth. The presence of prominent industry players, coupled with a rise in strategic collaborations, fuels the market. Furthermore, a surge in government and private sector investments, particularly in the Asia Pacific, supports market expansion. The growing global demand for brain cancer diagnostics, driven by an escalating prevalence of brain cancer, acts as a significant driver. Additionally, lifestyle factors, such as a rising number of smokers, contribute to the expanding market landscape. Overall, these diverse drivers collectively contribute to the dynamic growth of the Brain Cancer Diagnostics market.

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Challenges:
One significant hurdle is the complexity and heterogeneity of brain tumours, posing difficulties in accurate and timely diagnosis. Limited accessibility to advanced diagnostic technologies, especially in certain regions, hampers the overall diagnostic capabilities and timely intervention. Another challenge is the high cost of advanced diagnostic procedures, limiting their widespread adoption and accessibility. Additionally, the regulatory landscape presents challenges in terms of standardization and approval processes for novel diagnostic technologies. The global shortage of skilled healthcare professionals specializing in neuro-oncology further compounds the challenges in providing comprehensive and timely diagnostics. Overcoming these obstacles requires concerted efforts in research, development, and healthcare infrastructure enhancement to ensure effective brain cancer diagnostics on a broader scale.

Regional Trends:
The North America Brain Cancer Diagnostics market is expected to register a major market share. The foremost market for brain cancer diagnostics is the United States, with Canada and Mexico following suit. North America holds a dominant position in the brain cancer diagnostics market, mainly driven by advancements in technology, increased research and development efforts for improved diagnosis, and the presence of major industry players. Within North America, the United States commands a substantial share of the brain cancer diagnostics market. The growth of the market in the country is fueled by a rising incidence of brain cancer, ongoing technological innovations in diagnostics, and an increasing number of smokers.

Besides, Europe had a considerable share of the market. The market assessment extends to other countries in the Asia Pacific region. Factors propelling the market include growing investments from government and private sectors in the respective countries, collaborative efforts between Asian and Western nations for advancing diagnostic services, rising demand for brain cancer diagnostics, and an increasing prevalence of brain cancer in the region.

Recent Developments:
• In Sept 2023, GE HealthCare collaborated with Mayo Clinic to expedite their efforts in the field of imaging and artificial intelligence. The firms partnered to use artificial intelligence in magnetic resonance imaging (MRI) to automate diagnostic and interventional ultrasound procedures.
• In Jan 2023, Agilent Technologies Inc. has just acquired Avida Biomed, a young startup in the field of life sciences. Avida Biomed has created advanced target enrichment procedures with exceptional features, specifically designed for clinical researchers that employ next-generation sequencing (NGS) methods to investigate cancer. The acquisition enhanced Agilent's already dominant SureSelect portfolio and further supported Agilent's plan to enter the rapidly growing clinical research and diagnostics sectors.

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Segmentation of Brain Cancer Diagnostics Market-
By Diagnostic Technique-
• Imaging Techniques
o Magnetic Resonance Imaging (MRI),
o Computed Tomography (CT) Scan
o PET Scan or PET-CT Scan
o Single-photon Emission Computed Tomography (SPECT) Scan
• Tissue Sampling/Biopsy
• Molecular Diagnostics
• Others
By Brain Cancer Type-
• Gliomas
• Meningiomas
• Pituitary tumors
• Others
By End-Users
• Hospitals
• Diagnostic technique
• Cancer hospitals
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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