Brain Cancer Diagnostics Market Growing at 28.5% CAGR to be Worth US$ 7,378.57 Million by 2028

The Brain Cancer Diagnostics Market delivers a comprehensive study of the market, including its dynamics, Key players, growth and demand drivers, etc.

NEW YORK, UNITED STATES, January 31, 2023 /EINPresswire.com/ -- Latest study on “Brain Cancer Diagnostics Market to 2028 – Global Analysis and Forecast – by Diagnostic Type, Cancer Type, and End User,” the market is expected to reach US$ 2,476.14 million by 2028 from US$ 844.63 million in 2021. The market is estimated to grow at a CAGR of 16.6% from 2021 to 2028. The report highlights trends prevailing in the market and drivers and hindrances pertaining to the market growth.

Top Players Analysis- Thermo Fisher Scientific Inc.; Siemens Healthineers AG; GE Healthcare; MDxHealth; NantOmics; Biocept, Inc.; Koninklijke Philips N.V.; Canon Medical Systems; Hitachi, Ltd.; and Neusoft Medical Systems are among the leading companies operating in the brain cancer diagnostics market.

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Factors such as an increase in the prevalence of brain cancer worldwide and technological advancements in brain cancer diagnostics are expected to boost the growth of the global brain cancer diagnostics market. However, the market is likely to get impacted by the high cost involved in brain cancer diagnostics.

Brain cancer is caused due to extracellular growth of the cells in the brain that causes tumors. Tumors can be primary brain tumors and secondary brain tumors. Primary brain tumors are formed in the brain and do not spread to other body parts, whereas secondary tumors, also known as metastases, are those cancers that began in another part of the body. Symptoms of brain cancer include headaches, nausea, fatigue, drowsiness, and many more.

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Cancer of the brain and nervous system is the tenth highest cause of mortality in men and women. According to the American Society of Clinical Oncology (ASCO), in 2021, around 24,530 adults (13,840 men and 10,690 women) are likely to be diagnosed with primary cancerous tumors of the brain and spinal cord in the US. In a person's lifetime, the chances of having this form of tumor are lesser than 1%. Most primary central nervous system (CNS) malignancies are brain tumors, which account for 85% to 90% of all cases. Brain tumors can be fatal, have a severe impact on the quality of life, and ultimately turn a patient's and their family's lives.

Similarly, Cancer Research UK estimated that around 12,100 new cases of brain, other CNS, and intracranial tumors are diagnosed in the UK each year, which makes it around 33 cases per day (2015–2017). Brain tumors and other central nervous systems and intracranial tumors are the ninth most common malignancies in the UK, accounting for 3% of all new cancer cases (2017). Also, it is the eighth most common cancer in females in the UK with around 6,100 new cases in 2017. In males in the UK, brain, other CNS, and intracranial tumors are the eleventh most common cancer, with about 5,800 new cases in 2017. Incidence rates for brain tumors are projected to rise by 6% in the UK between 2014 and 2035, to 22 cases per 100,000 people by 2035.

The COVID-19 pandemic has become the most significant challenge across the world. It has disturbed various trades and businesses across the world. As a result of the COVID-19 pandemic, many diagnostic departments have experienced a rapid decline in imaging case volumes. This has important implications on the short-term and long-term economic stability of neurological procedures across all healthcare practice settings. Due to lockdowns imposed by governments across the world, many neurological procedures were delayed, and supply chain restrictions limited the availability of resources needed to deliver brain cancer diagnostic services.

Diagnostic Type-Based Insights

Based on diagnostic type, the brain cancer diagnostics market is segmented into imaging test, lumbar puncture, biopsy, molecular testing, platform and services, cerebral arteriogram, neurological and hearing tests/neurocognitive assessments, electroencephalography (EEG), and others.

Cancer Type-Based Insights

The global brain cancer diagnostics market , based on cancer type, is segmented into acoustic neuroma, astrocytomas, craniopharyngiomas, ganglioneuromas, glioblastoma multiforme, meningiomas, ependymomas, oligodendroglioma, low-grade tumors, and other brain cancer types. .

Tumor Size-Based Insights

The global brain cancer diagnostics market , based on tumor size, is segmented into 0.2 cm3 to 100 cm3, 101 cm3 to 200 cm3, and above 200 cm3. In 2022, the 0.2 cm3 to 100 cm3 segment is likely to hold the largest share of the market.

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End User-Based Insights

Based on end user, the brain cancer diagnostics market is segmented into hospitals, specialty clinics, ambulatory surgical centers, diagnostic centers & research institutes, and others.

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