Published Date: 2022-04-28
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North American Oncology Market size is predicted to surpass USD 246.5 billion by 2028, according to a latest forecast report by Graphical Research.
The market growth is owing to rising technological advancements and growing geriatric population. For instance, companies are developing advanced tools for high efficiency and accuracy that will enable to detect minute changes in cell using hi-tech computer system necessary for identifying presence of cancer in the body. Further, digital pathology has enabled precision in disease detection as well as faster delivery of test results. Thus, technological advancements and automation have made tests more accurate and easier to perform.
The cancer treatment segment held over USD 69.3 billion revenue in 2021. The increasing technological advancements and increasing R&D activities by key companies to develop anti-cancer drugs are expected to boost the market growth. Furthermore, availability of various advance cancer treatment such as hormonal therapy, immunotherapy and targeted therapy among others will further propel the industry growth.
The lung cancer segment accounted for 10.2% market share in 2021. Lung cancer is one of the most commonly diagnosed cancer in North America. Thus, increasing prevalence of lung cancer coupled with the nature of its recurrence is driving the demand for cancer diagnosis and treatment.
Browse detailed statistical insights from the report, “North America Oncology Market Forecast 2028 By Cancer Type (Lung Cancer, Prostate Cancer, Colon & Rectal Cancer, Gastric Cancer, Esophageal Cancer, Liver Cancer, Breast Cancer), By Cancer Diagnostics & Treatment (Cancer Diagnostics {Tumor Biomarker Test, Imaging, Biopsy, Liquid Biopsy, Immunohistochemistry, In Situ Hybridization}, Cancer Treatment {Chemotherapy, Targeted Therapy, Immunotherapy, Hormonal Therapy}), By End-use (Hospitals, Diagnostic Laboratories, Diagnostic Imaging Centers, Academia, Specialty Clinics), Research Report, Country Outlook (U.S., Canada), 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/2106/north-america-oncology-market
The diagnostic laboratories segment will witness 8.6% CAGR over the analysis period, owing to the increasing number of diagnostic and pathology laboratories. According to the American Clinical Laboratory Association (ACLA), around 7 billion diagnostic tests are performed every year in the U.S. including cancer detection. This has been a major factor for increase in the number of diagnostic laboratories. Moreover, increasing cases of cancers across the region will increase the demand for diagnostic laboratories that will in turn boost the industry outlook.
Canada oncology market accounted for USD 8,383 million revenue in 2021. Advancements in diagnostic tests and procedures, greater patient and physician awareness regarding early disease detection and availability of low-cost tests across broader settings are some of the major factors contributing to increasing uptake in the country. Also, growing number of participants in clinical trials will be another influencing factor for country level growth. For instance, Health Canada authorizes approximately 900 clinical trials in patients every year including for oncology, while patients can access the database to determine if a clinical trial has met the regulatory requirements. The database may also assist patients in finding clinical trials that might be relevant to their medical condition. Thus, availability of regulatory authority for conducting clinical trials along with information database on their respective medical condition are factors that are significantly boost the market growth.
The oncology in North American 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:
North America Market, By Cancer Diagnostics & Treatment
North America Market, By Cancer Type
North America Market, By End-use
The above information has been provided for the following countries:
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