A new report by XploreMR studies the growth drivers, trends, restraints, and highlights of the global ovarian cancer diagnostics market. Presenting exclusive insights into the market from 2017 to 2022, the report projects that the market will witness notable growth during the forecast period. Caused by the uncontrollable growth of cells in ovaries, ovarian cancer poses a threat to life if not detected early. As populations across the world become aware of the symptoms and the need for early diagnosis, demand for ovarian cancer diagnostics has been on a rise over the years. The growth of the market is mainly attributed to the incidence of ovarian cancer among women, growing health awareness, and increased expenditure on improving healthcare infrastructure. Highly prevalent among women aged 63 and above, the increasing geriatric population around the world is also propelling the demand for effective ovarian cancer diagnostics.
High Prevalence of Epithelial Tumours Continues to Surge Demand for Diagnostics
As per the statistics of the American Cancer Society, nearly 21,750 women are expected to be diagnosed with ovarian cancer in 2020, and cancer will attribute to 13,940 mortalities in the same year. Among the diagnosed patients, more than half of them are above 63, thereby putting women in older age groups at higher risk of ovarian cancer. On the back of these numbers, the need for effective ovarian cancer diagnostics has substantially increased in the recent past. The demand is also complemented by increasing awareness among the target population regarding symptoms and the need for early identification. Moreover, the high prevalence of epithelial tumors and the subsequent demand for diagnosis is anticipated to drive the majority of demand for the ovarian cancer diagnostics market. Similarly, the CA 125 test is the most lucrative testing method owing to its accuracy. Although the rate of ovarian cancer has decreased in the last 20 years, the demand for screening and diagnosis will continue to shape the growth of the ovarian cancer diagnostic market.
North America to Maintain Hegemony over Regional Landscape
North America will remain the leading regional market for ovarian cancer diagnostics, owing to high awareness among the population to get regular screening, coupled with high-income levels. Moreover, the presence of a strong healthcare system, coupled with the adoption of the latest technologies is also bolstering the revenue flow in the region. On the other hand, Asia Pacific is anticipated to witness substantial growth in the market value, on the back of increased spending on improving healthcare architecture and increasing health awareness.