Gastric Cancer Diagnostic Market Set to Surge to $3.8 Billion by 2032 at a 5.3% CAGR

As of 2022, the global gastric cancer diagnostic market was valued at $2.3 billion & is projected to reach $3.8 billion by 2032, reflecting a CAGR of 5.3%

WILMINGTON, DE, UNITED STATES, February 20, 2025 /EINPresswire.com/ -- As of 2022, the global gastric cancer diagnostic market was valued at approximately $2.3 billion. Projections indicate that this market is poised to reach $3.8 billion by 2032, reflecting a CAGR of 5.3% from 2023 to 2032. This growth trajectory underscores the escalating demand for effective diagnostic solutions in response to the rising prevalence of gastric cancer. For instance, in 2020, there were more than 1 million new cases of stomach cancer worldwide, highlighting the pressing need for advanced diagnostic tools.

Gastric cancer, commonly referred to as stomach cancer, remains a significant global health concern, ranking as the fifth most common malignancy worldwide. Early and accurate diagnosis is crucial for improving patient outcomes and survival rates. The gastric cancer diagnostic market has been experiencing substantial growth, driven by increasing incidence rates, technological advancements, and heightened awareness of early detection's importance.

Get Sample PDF Copy: https://www.alliedmarketresearch.com/request-sample/A210376

Gastric Cancer Diagnostic Market Growth Factors
Several key factors are propelling the expansion of the gastric cancer diagnostic market:
1. Rising Incidence of Gastric Cancer: The global increase in gastric cancer cases necessitates the development and adoption of advanced diagnostic methods to enable early detection and improve survival rates. According to the World Cancer Research Fund International, stomach cancer is the fifth most common cancer worldwide, with over 1 million new cases in 2020.

2. Technological Advancements: Innovations in diagnostic technologies, such as high-definition endoscopy, molecular testing, and imaging techniques, have enhanced the accuracy and efficiency of gastric cancer detection. These advancements allow for more precise identification of cancerous tissues and better assessment of disease progression.

3. Awareness and Screening Programs: Growing awareness about the benefits of early cancer detection has led to the implementation of screening programs, particularly in high-risk regions. These initiatives drive the demand for reliable and efficient diagnostic tools.

4. Aging Population: The global increase in the elderly population contributes to a higher incidence of gastric cancer, as the risk of developing this disease escalates with age. This demographic shift underscores the need for accessible and effective diagnostic services.

5. Research and Development Investments: Substantial investments in research and development by key industry players have resulted in the introduction of novel diagnostic solutions, further stimulating market growth.

Gastric Cancer Diagnostic Market Segmentation
The gastric cancer diagnostic market can be segmented based on product type, disease type, end user, and region.
1. By Product Type:
◦ Reagents and Consumables: In 2022, this segment dominated the market, attributed to the recurrent need for these products in diagnostic procedures. The continuous requirement for consumables in various diagnostic techniques ensures a sustained demand.
◦ Instruments: This segment is expected to register the highest CAGR during the forecast period, driven by technological innovations and the adoption of advanced diagnostic equipment. The integration of artificial intelligence (AI) and automation in diagnostic instruments streamlines the diagnostic process, reducing turnaround times and increasing overall efficiency.

2. By Disease Type:
◦ Adenocarcinoma: This subtype held the largest market share in 2022 and is anticipated to be the fastest-growing segment. Adenocarcinoma is the most common type of gastric cancer, accounting for the majority of cases. Its high prevalence necessitates specialized diagnostic approaches.
◦ Gastric Lymphoma: Representing a smaller percentage of gastric cancers, lymphomas require distinct diagnostic techniques, contributing to this segment's growth.
◦ Others: This category includes less common types of gastric cancers, such as gastrointestinal stromal tumors (GISTs) and carcinoid tumors, which also require accurate diagnostic methods.

3. By End User:
◦ Hospitals: These settings are integral to the diagnostic process, often serving as the first point of care and facilitating various diagnostic procedures. Hospitals offer a comprehensive range of services from initial screenings to advanced diagnostic procedures and subsequent treatment.
◦ Diagnostic Laboratories: In 2022, diagnostic laboratories dominated the market in terms of revenue, reflecting their central role in conducting comprehensive gastric cancer diagnostic tests. Equipped with advanced equipment and skilled professionals, these laboratories ensure precise results and timely diagnosis.
◦ Diagnostic Imaging Centers: Specialized centers focusing on imaging diagnostics contribute to the market by providing detailed visualization of gastric tumors, aiding in accurate diagnosis and staging.

4. By Region:
◦ North America: This region led the market in revenue in 2022, driven by a well-established healthcare infrastructure, high awareness levels, and significant investment in research and development. The presence of major industry players and ongoing technological advancements further bolster the market.
◦ Asia-Pacific: Anticipated to experience the highest CAGR during the forecast period, attributed to increasing healthcare investments, rising awareness, and a higher burden of gastric cancer in countries like Japan, China, and South Korea. Government initiatives for diagnostic services and the development of the medical technology industry are expected to drive market growth in this region.
◦ Europe: With a robust healthcare system and growing emphasis on early cancer detection, Europe represents a significant market for gastric cancer diagnostics. Collaborative efforts in research and development and the adoption of advanced diagnostic technologies contribute to market expansion.
◦ Latin America and Middle East & Africa: These regions are gradually adopting advanced diagnostic technologies, with market growth supported by improving healthcare infrastructures and increasing cancer awareness. Efforts to enhance healthcare access and affordability are expected to further stimulate market growth.

Have Any Query? Ask Our Experts: https://www.alliedmarketresearch.com/purchase-enquiry/A210376

Key Players in the Gastric Cancer Diagnostic Market
Several major companies are actively contributing to the development and distribution of gastric cancer diagnostic solutions. Notable key players in the market include:
• Abbott Laboratories
• F. Hoffmann-La Roche Ltd.
• Bio-Rad Laboratories, Inc.
• Agilent Technologies, Inc.
• Exact Sciences Corporation
• MiRXES Pte Ltd
• Hipro Biotechnology Co., Ltd.
• Fulgent Genetics
• Endofotonics Pte Ltd

These companies are at the forefront of innovation, continually enhancing diagnostic accuracy and efficiency through research and development.

Recent Developments
The gastric cancer diagnostic market has witnessed several notable developments:
• Product Approvals: In August 2023, QIAGEN received U.S. FDA approval for its therascreen PDGFRA RGQ PCR kit, enhancing molecular diagnostic capabilities. Similarly, in October 2021, Agilent Technologies obtained CE-IVD mark approval for the PD-L1 IHC 28-8 pharmDx, aiding in treatment decisions for gastric cancer patients.
• Strategic Partnerships: In January 2023, Agilent Technologies partnered with Akoya Biosciences to develop multiplex-immunohistochemistry diagnostic solutions, integrating advanced imaging and staining technologies to improve tissue analysis.

These advancements reflect the dynamic nature of the gastric cancer diagnostic market, with key players actively engaging in collaborations and innovations to address the growing demand for effective diagnostic solutions.
In conclusion, the gastric cancer diagnostic market is poised for continued growth, driven by rising incidence rates, technological innovations, and strategic initiatives by key industry players. These factors collectively contribute to improved early detection and patient outcomes in gastric cancer care.

Procure Complete Report: https://www.alliedmarketresearch.com/gastric-cancer-diagnostic-market/purchase-options

Thanks for reading this article; you can also get an individual chapter-wise sections or region-wise report versions like North America, LATAM, Europe, or Southeast Asia.

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

David Correa
Allied Market Research
+ 1 800-792-5285
email us here
Visit us on social media:
Facebook
X
LinkedIn
YouTube