Published Date: 2022-04-28
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APAC Oncology Market size is expected to cross USD 110.6 billion by 2028, according to a latest forecast report by Graphical Research.
Cancer is identified as one of the most prominent diseases in Asia Pacific region. It is also ranked among the top three causes of death in the region. Given such high prevalence rates, the various domestic government as well as global health-related organizations operating in the region, take several measures to spread awareness regarding cancer. Further, strategic efforts from the World Health Organization are also noted to curb the occurrence of cancer in the country, thereby fueling the market growth. However, Side effects associated with the cancer treatment may potentially restrain the market growth.
The Asia Pacific oncology market from treatment segment will reach USD 66 billion revenue by 2028. With a high prevalence of cancer across the region, different treatment options are available. Moreover, availability of various advance oncology treatment such as targeted therapy and hormonal therapy among others will further foster the market demand. Furthermore, increase R&D investment to develop anti-cancer drugs will also augment the market growth
The lung cancer segment will witness 12.2% CAGR between 2022 to 2028, due to increasing prevalence of lung cancer due to consumption of tobacco coupled with the nature of its recurrence has led to massive burden on health care system. For instance, according to the World Health Organization (WHO) report, every year more than 1 million deaths occur from cancer due to use of tobacco products. This has led to an increase in the number of cancer patients, thereby supplementing the industry growth.
Browse detailed statistical insights from the report, “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” along with the table of contents (ToC) @
https://www.graphicalresearch.com/industry-insights/2102/asia-pacific-oncology-market
The diagnostic imaging centers segment accounted for USD 4.1 billion revenue in 2021 owing to availability of technologically advanced diagnostic equipment. Moreover, imaging technique plays a crucial role in the diagnosis of almost every form of cancer thus, the usage of such devices in diagnostic imaging centers will augment the market revenue. Additionally, the presence of trained professionals in diagnostic imaging centers to perform test will further boost the market size. Furthermore, factors such as rising aging population in the region and increasing demand for early diagnosis of cancer disease are expected to further upsurge the industry growth.
Japan oncology market will exhibit a CAGR of 16.7% during the forecast period, due to ongoing regulatory and government initiatives that reward innovative product development. The measures include accelerated review systems such as Sakigake and Conditional Early Approval. Other driving factors are related to shifts in population demographics leading to over 1 million cancer incidence in Japan each year. Similarly, with recent advances in genomic analysis technology such as next generation sequencing (NGS) progress is being made in establishing genomic cancer medicine, whereby effective therapies are selected based on the results of genomic analysis of each individual patient. Thus, increasing burden of cancer along with advancements in cancer medicine will attract customers to opt for diagnosis and treatment.
The APAC oncology market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2017 to 2028, for the following segments:
Asia Pacific Market, By Diagnostic & Treatment
Asia Pacific Market, By Cancer Type
Asia Pacific Market, By End-use
The above information has been provided for the following countries:
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