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    Asia Pacific Oncology Market Forecast 2028 By Cancer Diagnostics & Treatment (Cancer Diagnostics {Tumor Biomarkers Tests, Imaging, Biopsy, Liquid Biopsy, Immunohistochemistry, In Situ Hybridization}, Cancer Treatment {Chemotherapy, Targeted Therapy, Immunotherapy, Hormonal Therapy}), By Cancer Type (Lung Cancer, Prostate Cancer, Colon & Rectal Cancer, Gastric Cancer, Esophageal Cancer, Liver Cancer, Breast Cancer), By End-use (Hospitals, Diagnostic Laboratories, Diagnostic Imaging Centers, Academia, Specialty Clinics), Research Report, Country Outlook (China, India, Japan, Australia, South Korea, Indonesia, Singapore, Malaysia, Thailand, Philippines, Vietnam), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
    Published Date: April 2022   |   Report ID: GR2102   |   Delivery: PDF  Request Free Sample

    Asia Pacific Oncology Market size valued at USD 52.2 billion in 2021 and is set to observe around 11.7% growth rate from 2022 to 2028.

    Growing initiatives by several government and non-government organizations for the treatment of cancer diseases will optimistically impact the industry growth. Moreover, increasing funding by government for modernization and development of healthcare infrastructures due to increasing disease burden is expected to boost the market size.

    Asia Pacific Oncology Market

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    Further, technological advancements and automation have made tests more accurate and easier to perform. For instance, Liquid based cytology (LBC) tests were developed to overcome difficulties in conventional pap test for cervical cancer screening. This LBC test reduces specimen inadequacy by around 80% thus allowing further application in chlamydia, HPV, and gonorrhea testing.

    Asia Pacific Market, By Cancer Diagnostic & Treatment

    The cancer diagnostic segment held over USD 26,138.8 million revenue in 2021, attributed to the rising prevalence of cancer in the region. Moreover, the adoption and demand for cancer diagnosis has increased in recent years, as few of the tests including biomarker tests are cost effective as compared to other diagnostic methods such as medical imaging. Furthermore, usage and availability of technologically advanced equipment in diagnostics lab and hospitals for disease detection will further drive the industry growth.

    Asia Pacific Market, By Cancer Type

    The breast cancer segment will exceed USD 22,219.5 million revenue by the end of 2028. The major causes of increase in breast cancer incidence and prevalence rate are obesity, hormone imbalance, age-related risks, and replacement therapy.

    Moreover, the incidence of breast cancer in women is rising rapidly. For instance, according to GLOBOCAN estimates, in 2020, nearly 92,024 new cases of women with breast cancer were reported in Japan alone, representing 21.4% of all types of cancer with an incidence of 507 cases per 100 thousand women. Also, in countries of Asia Pacific, malignant breast cancer is the most common type of cancer in women.

    Asia Pacific Market, By End-use

    The hospital end use segment accounted for 63.2% Asia Pacific oncology market share in 2021. High adoption rates for technologically advanced biopsy and other devices utilized in diagnosis of cancer will increase the number of diagnoses carried out in hospitals. Furthermore, the increasing presence of electrosurgical procedures and related minimally invasive surgeries has increased the admissions and adoption of oncology treatment in hospital setting.

    Asia Pacific Market, By Country

    China oncology market exceeded USD 21.7 billion revenue in 2021, due to increased focus and awareness of government regarding early detection and eradication of cancer. Also, presence of large patient pool that are prone to various types of cancer will favor market expansion.

    Competitive Industry Landscape

    Prominent participants operating across the Asia Pacific market include Janssen Diagnostics, LLC (Johnson & Johnson), GE Healthcare, F. Hoffmann-La Roche, Bayer AG, Merck, Pfizer, Abbott, and Thermo Fischer Scientific.

    Companies engage in different organic and inorganic growth strategies to establish and strengthen their market presence in the region. The companies strive to gain competitive advantage in the market while also enhancing their market share. For instance, in October 2021, Specialized Therapeutics Asia Pte Ltd (ST) partnered with Incyte Biosciences International Sarl, the Swiss-based affiliate of Incyte to launch and distribute two new medicines for its haematology and oncology portfolios. The products include tafasitamab and pemigatinib (Pemazyre). Under the terms of the agreement, Incyte will be responsible for the development, manufacture and supply of both products and ST will be responsible for regulatory, distribution and local marketing related activities in Australia, New Zealand, and Singapore. This strategy is expected to complement the revenue of the company and maintain long term business relations.

    Frequently Asked Question(FAQ) :

    How big is the Asia Pacific oncology market?
    The market share for oncology in Asia Pacific was USD 52.2 billion in 2021 and is expected to expand at a growth rate of 11.7% between 2022 and 2028 owing to the rising number of cancer treatment initiatives by numerous government and non-government organizations.
    What factors will drive Asia Pacific oncology industry growth from cancer diagnostics?
    The market value from cancer diagnostics was around USD 26,138.8 million in 2021 and is estimated to grow on account of the rising prevalence of cancer in the region.
    How will the oncology segment fare in China?
    The market value for oncology in China was surpassed USD 21.7 billion in 2021 and is poised to expand at a substantial rate through 2028 driven by the surging government awareness regarding the eradication and early detection of cancer.
    Which are major players in the Asia Pacific oncology landscape?
    Key companies in the Asia Pacific industry comprise F. Hoffmann-La Roche, Merck, Janssen Diagnostics, Abbott, GE Healthcare, Thermo Fischer Scientific, and others.

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