Ovarian Cancer Diagnostics Market is expected to reach USD 11,647.12 million by 2030

The comprehensive Ovarian Cancer Diagnostics Market research report makes available an actionable market insight to the clients with which they can create sustainable and profitable business strategies. The market report presents painstaking description, competitive scenario, wide product portfolio of key vendors and business strategy adopted by competitors along with their SWOT analysis and porter’s five force analysis. According to this market report, new highs will take place in the Ovarian Cancer Diagnostics Market. The market research report is an utter outline of the global HEALTHCARE industry which is penned down so that an unskilled individual as well as professional can easily extrapolate the entire Ovarian Cancer Diagnostics Market within a few seconds.

Ovarian cancer is the type of cancer that forms in tissues of the ovary (one of a pair of female reproductive glands in which the ova, or eggs, are formed). Most ovarian cancers are either ovarian epithelial cancers (cancer that begins in the cells on the surface of the ovary) or malignant germ cell tumors (cancer that begins in egg cells). The tests and procedures used to diagnose ovarian cancer includes the pelvic exam, imaging tests, blood tests, surgery and among others. During a pelvic exam, the doctor inserts gloved fingers into the vagina and simultaneously presses a hand on the abdomen in order to feel (palpate) the pelvic organs.

The global ovarian cancer diagnostics market is expected to grow in the forecast period of 2023 to 2030. Data Bridge Market Research analyses that the market is growing with a CAGR of 7.0% in the forecast period of 2023 to 2030 and is expected to reach USD 11,647.12 million by 2030.

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Ovarian cancer is most common in women between the ages of 50 and 79. It is becoming more prevalent as the world’s geriatric population grows and there is a greater emphasis on early detection and treatment, which is expected to accelerate ovarian cancer diagnostic market development. Increasing government investment in raising awareness about early cancer detection as well as increasing health-care spending would also propel business growth. Obesity appears to play a significant role in the development of ovarian cancer. Other lifestyle choices that can raise the risk include smoking, drinking, and not having children. Since ovarian cancer is not easily detectable, women who are at risk of developing the disease must undergo routine testing to identify the disease early, allowing the market to expand.

The global ovarian cancer diagnostic market is growing in the forecast year due to the rise in market players and the availability of advanced services. Along with this, manufacturers are engaged in R&D activity for launching novel services in the market. The increasing research in ovarian cancer diagnostics and development is further boosting the market growth. However, difficulties in ovarian cancer screening techniques might hamper the growth of the global ovarian cancer diagnostic market in the forecast period.

Drivers

• Growing Ovarian Cancer Awareness

Growing ovarian cancer awareness has led to an increased demand for timely cancer detection, leading to market growth.

Ovarian cancer is one of the major causes of rising mortality rates among female populations worldwide, which is fuelling market growth over the next five years. Cancer in the ovaries and cysts is becoming more common due to various factors such as environmental factors and genetic mutations.

Ovarian cancer is a type of cancer that affects women’s egg-producing organs, the ovaries. Ovarian cancer is difficult to diagnose because the symptoms are vague and are often detected only after cancer has spread through the stomach and pelvis, making it difficult to cure.

As a result, improved diagnostic processes and techniques are required to determine the cancer stage to treat. Furthermore, the rising mortality rate from ovarian cancer is concerning, emphasizing the importance of early detection so that treatment can be provided.

Due to an increase in awareness about ovarian cancer, it is expected to act as a driving factor for market growth.

• Improved Diagnostic Processes and Techniques

Screening tests and exams are used to detect a disease, such as cancer, in people who do not have any symptoms. There has been a lot of research to develop a screening test for ovarian cancer, but there has not been much success so far. The two tests used most often (in addition to a complete pelvic exam) to screen for ovarian cancer are Transvaginal Ultrasound (TVUS) and the CA-125 blood test.

TVUS is a test that uses sound waves to look at the uterus, fallopian tubes, and ovaries by putting an ultrasound wand into the vagina. It can help find a mass (tumor) in the ovary, but it cannot actually tell if a mass is cancer or benign. When it is used for screening, most of the masses found are not cancer.

The CA-125 blood test measures the amount of a protein called CA-125 in the blood. Many women with ovarian cancer have high levels of CA-125. This test can be useful as a tumor marker to help guide treatment in women known to have ovarian cancer because a high level often goes down if treatment is working. But checking CA-125 levels is not as useful as a screening test for ovarian cancer.

Key Players:

Some of the major players operating in the global ovarian cancer diagnostics market are F. Hoffmann-La Roche Ltd, Tosoh India Pvt. Ltd., Luminex Corporation, Quest Diagnostics Incorporated, Thermo Fisher Scientific Inc., Ngenebio, Abbott, Siemens healthcare private limited, Myriad genetics Inc., Bio-rad laboratories, Inc., R&d systems, Inc., Foundation medicine, Inc., Biosupply ltd, Lcm genect srl, Inex innovate private limited, Abcam plc., Monobind Inc., Fujirebio, Mp biomedicals, Biovision Inc., Boster biological technology, Biogenix Inc. Pvt. Ltd., Genway biotech and Lifespan biosciences, Inc among others.

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CHALLENGES

Strict Regulations and Standards for the Approval and Commercialization of Cancer Diagnostic Products

The stringent regulations for commercialization of any product in the market are proving to be a big challenge for manufacturers of cancer diagnostic products in the U.S. and European region. Every country has its own regulations and has a different body for regulatory procedures.

In the U.S., manufacturers require marketing authorization approval for IVD products for human use. The product must be labeled in accordance with labeling regulations. Establishments involved in the production and distribution of medical devices intended for commercial distribution in the U.S. are required to register with the FDA. Registration provides the FDA with the location of medical device manufacturing facilities and importers. Registration of an establishment is not an approval of the establishment or its devices by the FDA, that is, it does not provide FDA authorization to market the device. Unless exempted, premarketing authorization is required before a device can be placed into commercial distribution in the U.S.

The regulatory requirement for approvals of marketing as well as the declaration of conformity and the time required for regulatory review may vary for different products. The company which fails to get regulatory approval harms the business because without getting approval on the products, manufacturers are not able to launch their product in the market and for this reason, strict regulations and standards for the approval and commercialization of cancer diagnostic products act as a restraining factor for market growth.

Recent Developments

• In November 2022, Myriad genetics Inc. announced that it has acquired Gateway Genomics, LLC, The acquisition strengthens Myriad Genetics’ portfolio of Women’s Health products, expanding access to personalized genetic tests during the reproductive stage of a women’s life and beyond. With SneakPeek, Myriad now serves women earlier in their pregnancy, providing data-driven genetic insights through their lifetime with the Prequel non-invasive prenatal screen, Foresight carrier screen, and MyRisk Hereditary Cancer Test with Risk Score for all ancestries, this will help the company to increase their revenue.
• In October 2022, Quest Diagnostics announced the new phase of collaboration with Decode health, in the starting phase of collaboration, the two parties developed RNA (transcriptome) sequencing capabilities based on both parties’ next-generation sequencing, analytics and clinical expertise. The collaboration is significant as biomarker-based data can help reduce the time and cost of developing novel diagnostic tests and identifying new drug targets for different types of cancers (breast, prostate and ovarian cancer). This collaboration helps the company to find innovative paths in the field of R&D and increases the global presence of the company.  

Ovarian Cancer Diagnostics Market Scope

Product Type

• Instruments
• Kits and Reagents

On the basis of product type, the global ovarian cancer diagnostics market is segmented into instruments and kits and reagents.

Procedure Type

• Blood Markers Testing
• Medical Imaging Test
• Biopsy Tests
• Genetic Testing

On the basis of procedure type, the global ovarian Cancer Diagnostics market is segmented into blood markers testing, medical imaging test, biopsy tests and genetic testing

Cancer Type

• Epithelial Tumor
• Germ Cell
• Stromal Cell Tumor

On the basis of cancer type, the global ovarian cancer diagnostics market is segmented into epithelial tumor, germ cell and stromal cell tumor

End User

• Cancer Diagnostic Centers
• Hospital Laboratories
• Research Institutes
• Others

The report provides insights on the following pointers:

• Market Penetration: Comprehensive information on the product portfolios of the top players in the this market
• Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market
• Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market
• Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies

Critical Insights Related to This Market Included in the Report:

• Exclusive graphics and Illustrative SWOT analysis of some of the leading companies in this market
• Value chain analysis of prominent players in the market
• Current trends influencing the dynamics of this market across various geographies
• Recent mergers, acquisitions, collaborations, and partnerships
• Revenue growth of this industry over the forecast period
• Marketing strategy study and growth trends
• Growth driven factor analysis
• Emerging recess segments and region-wise market
• An empirical evaluation of the curve of this market
• Ancient, Present, and Probable scope of the market from both prospect value and volume

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