Europe Cancer Tissue Diagnostics Market Outlook
The cancer tissue diagnostics market in Europe was valued at US$ 512.73 million in 2018 and is projected to reach US$ 830.28 million by 2027, growing at a compound annual growth rate (CAGR) of 5.8% during the forecast period.
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Market growth is primarily driven by the rising incidence of cancer and the increasing geriatric population across the region. However, the high cost of cancer diagnostics in certain European countries is expected to hinder market expansion in the coming years.
Cancer remains one of the leading causes of death in Europe, significantly impacting quality of life. If not diagnosed and treated early, cancer poses a severe societal burden. According to the World Health Organization (WHO), approximately 9.6 million global deaths were attributed to cancer in 2018. In Europe, the burden is particularly heavy—data from WHO indicates over 3.7 million new cancer cases and 1.9 million cancer-related deaths annually, making it the second most common cause of morbidity and mortality in the region.
Despite accounting for only one-eighth of the world’s population, Europe contributes to nearly a quarter of global cancer cases. According to Cancer Research UK, approximately 163,444 cancer-related deaths occurred in the UK alone in 2016. These figures underline the region’s high cancer incidence rate. Importantly, about 40% of cancer cases are considered preventable through early diagnosis, effective treatment, and proper medication.
Among European countries, Spain is expected to witness the fastest growth in the cancer tissue diagnostics market over the forecast period. This growth is attributed to a rise in cancer research initiatives, an increasing number of cancer patients, and strategic efforts to reduce the financial burden of cancer care. Additionally, Spain’s expanding medical tourism industry further supports the market’s rapid development.
Europe Cancer Tissue Diagnostics Strategic Insights
Strategic insights for the Europe Cancer Tissue Diagnostics provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
Market leaders and key company profiles
ï‚· F. Hoffmann-La Roche Ltd
ï‚· Thermo Fisher Scientific Inc.
ï‚· Bio Rad Laboratories Inc.
ï‚· Abbott
ï‚· Enzo Life Sciences, Inc.
ï‚· Agilent Technologies, Inc.
ï‚· Cancer Genetics Inc.
ï‚· Merck KGaA (Sigma-Aldrich Co. LLC)
ï‚· Danaher ï‚· Abcam plc.
Regional Insights – Europe Cancer Tissue Diagnostics Market
The regional landscape of the Europe Cancer Tissue Diagnostics market highlights the importance of understanding localized factors that influence market dynamics. These include variations in healthcare infrastructure, economic conditions, regulatory frameworks, and diagnostic preferences across different countries. Tailoring strategies to these regional distinctions enables companies to better address specific market needs, such as preferences for certain diagnostic technologies or reimbursement policies. By identifying underserved regions and adapting offerings accordingly, businesses can enhance their market penetration, optimize resource allocation, and implement more effective, targeted marketing strategies. This localized approach strengthens competitiveness and supports sustainable growth across diverse European markets.
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Akshay
Senior Market Research Expert at Business Market Insights
