Cancer screening aims to distinguish cancer before symptoms appear. It involves blood tests, DNA tests, urine tests, medical imaging tests and other tests. The benefits of screening in terms of cancer inhibition, early detection and subsequent treatment must be considered against any harms.
According to study, “Latin America Cancer Screening Market (2018-2023)” the key companies operating in the Latin America cancer screening market are Abbott diagnostics, GE Healthcare, Roche Diagnostics, Becton, Dickinson and Company, Hologic Inc., Roche Molecular Inc., Celera Group, Auto Genomics Inc., ELI Tech Group, Quest Inc., Applied Biosystems Inc., Trans Genomic Inc., BioRad Laboratores Inc., PerkinELmer Inc. The key players are scheduling for investing the attractive amount of money for advancing the technologies and increasing the awareness related to this while the government of an economy is also taking initiative in this regards and creating the profitable strategies & policies which further proved to be profited for both the consumer and players.
Based on type of cancer, cancer screening market is segmented into breast cancer, bowel cancer, cervical cancer, lung cancer, prostate cancer, colorectal cancer, oral cancer, skin cancer, pancreatic cancer and other cancers. Breast cancer involves clinical breast examination, mammography, Magnetic resonance imaging (MRI), and breast self-examination tests. Cervical cancer involves Pap test and Human papillomavirus (HPV) testing. Lung cancer involves Low-dose helical or spiral computed tomography (CT or CAT) scan. Prostate cancer involves Prostate-specific antigen (PSA) test and Digital rectal examination (DRE). Colorectal cancer involves fecal occult blood test (FOBT), stool DNA tests, colonoscopy test, double contrast barium enema and sigmoidoscopy test. Additionally, skin cancer involves dermoscopy, skin self-examination and complete skin exam test. Based on product type, market is segmented into reagents & kits, services, instruments and data management system. Based on screening type, market is bifurcated into the market is segmented into laboratory tests, imaging tests, biopsy tests, genetic tests and endoscopy tests. Imaging test make pictures or images of areas inside the body while genetic test looks for certain gene mutations or changes that are linked to types of cancer. In addition, based on end-users, market is segmented into independent physicians & clinics, hospitals and laboratories.
The cancer screening market is driven by rise in prevalence of target disorders, followed by increase in aging population, rise in support from government in the form of awareness campaigns & performance-based reimbursements, increase in awareness among people, and presence of favorable government initiatives for early disease diagnosis. However, high screening test costs, imbalance in socio-economic & political scenario and inadequate healthcare access in developing countries may impact the market.
Based on geography, cancer screening market is segmented into Colombia, Brazil, and the rest of Latin America. It is anticipated that market will be reached at fast pace owing to rise in technological advancements and increase in incidence of chronic diseases over the forecast period. It is expected that the market will be reached at US $ 30.06 billion, by 2023, at a CAGR of 7.19%. It is projected that the cancer screening market of will increase across the Latin America region more positively over the coming years.
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Ankur Gupta, Head Marketing & Communications