Next Generation Cancer Diagnostics Market Area & Strategy Framework To 2014 - 2025

The next generation cancer diagnostics market is dominated by North America with approximately 40% market share. Favorable government initiatives such as launch of “80% by 2018” program for detection of colon cancer is anticipated to propel progress in the coming years.

In this program, almost 170 groups including medical professional societies, health departments, government health departments, and cancer coalitions are functioning to accomplish the mutual goal of attaining 80% screening for oncology diseases by 2018 and are working forward to eliminate the oncology disorders. Asia Pacific is anticipated to be the fastest developing region. Factors such as economic augmentation, higher investments, and greater untapped market are accountable for the fastest growth of resign in diagnosis sector.

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Competitive Insights

Major entities functioning in the market include Novartis AG, Myriad Genetics Inc., Illumina Inc., Almac Group, Sysmex Corporation, F. Hoffmann-La Roche Ltd, Agilent Technologies, Genomic Health, Almac Group, Koninklijke Philips N.V, and Cepheid.

Market players by offering clinical analysis amenities are implementing geographic expansion strategies. Furthermore, reimbursement coverage plays an important factor to increase the patient convenience to the precision drug. For example, in October 2015, U.S., Medicare started the reimbursement procedure for a prostate tumor type known as Oncotype DX.

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