Market Potential

Cancer is a complex and potentially fatal disease characterised by uncontrolled growth of abnormal cells that invade and destroy normal body tissue. There are many types of cancer with the most common being lung, breast, colorectal, stomach, liver, prostate, blood and other cancers. Cancer can be caused by external factors such as tobacco, chemicals, alcohol, infectious agents and sun exposure, as well as internal factors such as hormones, inherited gene mutations, immune conditions and spontaneous mutations.

Cancer is a leading cause of morbidity and mortality worldwide with around 14.1 million new cases and 8.2 million deaths in 2012[1]. Rising prevalence and incidence of cancer, aging population, technology advancements, and increasing healthcare expenditure and cancer awareness are driving growth of both the cancer diagnostics and cancer therapeutics markets globally. Survival rates are improving for many types of cancer due to development of new diagnostic and treatment procedures, with early detection and advanced (biological and targeted) therapies improving prognosis and reducing mortality.

Cancer Diagnostics Market

The global cancer diagnostics market was valued at US $100.9 billion in 2013, and is expected to reach US $168.6 billion by 2020, growing at a CAGR of 7.6%[2]. Imaging is the largest segment by method used for detection of most cancer types, whereas tumour biomarker tests are expected to grow at 7.5% CAGR from US $11.0B in 2013 to $18.1B by 2020 where highly sensitive and specific biomarkers help improve diagnosis, monitoring and prognosis of cancer. The largest segment by application was lung cancer with about 26% share, followed by breast, colorectal and other cancers.

Cancer Therapeutics Market

The global cancer therapeutics market was valued at US $78.2 billion in 2015, and is expected to reach US $111.9 billion by 2020, growing at a CAGR of 7.1%[3]. Chemotherapy is the largest segment by modality but suffers from low specificity, low safety, marginal efficacy and chronic side effects, resulting in a shift towards new biological drugs (targeted and immunotherapies) that have improved specificity, safety, and efficacy for treating various cancer types. The largest segment by application is blood followed by breast, then lung, prostate and other cancers.

[1] Ferlay J, et al. GLOBOCAN 2012 v1.0, Cancer Incidence and Mortality Worldwide: IARC CancerBase No. 11 [Internet].
Lyon, France: IARC; 2013. Available: http://globocan.iarc.fr/Pages/fact_sheets_cancer.aspx, accessed on 16/9/2016.
[2] TMR. Cancer Diagnostics Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020. 2014. Available http://www.transparencymarketresearch.com/cancer-diagnostics-market.html
[3] Allied Analytics. Global Oncology/Cancer Drugs Market – Size, Share, Growth, Trends, Company Profiles, demand, Insights, Analysis, Research, report, Opportunities, Segmentation and Forecast, 2013 – 2020. 2015. Available http://www.researchandmarkets.com/reports/3197604/global-oncologycancer-drugs-market-therapeutic#pos-12