South & Central America Gastric Cancer Diagnostic Procedure Market
Published On: Jun 2023
Published On: Jun 2023
According to the Business Market Insights’ research, the South & Central America gastric cancer diagnostic procedure Market was valued at US$ 53.04 million in 2022 and is expected to reach US$ 78.73 million by 2028, registering a CAGR of 6.8 % from 2022 to 2028. Rise in Prevalence of Gastrointestinal Diseases and Surging Cases of Helicobacter Pylori Infection attributed to the South & Central America gastric cancer diagnostic procedure Market expansion.
Many market players and research institutes operating in the gastric cancer diagnostics market are developing advanced products to expand their product portfolios and increase their market shares. They invest significant amounts in R&D to develop advanced products. A few of the recent developments related to gastric cancer diagnostic platforms are mentioned below:
In February 2022, Mayo Clinic researchers used AI and informatics to discover a 32-gene signature that is a prognostic and predictive biomarker for patients suffering from gastric cancer. The study was published in the edition of Nature Communications.
Thus, such developments of AI-based gastric cancer diagnostics are likely to introduce new trends in the gastric cancer diagnostic procedure market during the forecast period.
On the contrary, Shortage of Medical Laboratory Professionals hurdles the growth of South & Central America gastric cancer diagnostic procedure market progress.
Based on healthcare providers, the market is segmented into diagnostic laboratories, hospitals, cancer research institutes, oncology specialty clinics, and others. The hospitals segment held 41.8% market share in 2022, amassing US$ 22.16 million. It is projected to garner US$ 32.19 million by 2028 to expand at 6.4 % CAGR during 2022–2028.
Based on symptoms type, the South & Central America gastric cancer diagnostic procedure market is segmented into symptomatic and asymptomatic. The Asymptomatic segment held 78.6% market share in 2022, amassing US$ 41.69 million. It is projected to garner US$ 61.31 million by 2028 to expand at 6.6 % CAGR during 2022–2028.
Based on body fluid, the South & Central America gastric cancer diagnostic procedure market is segmented into body fluid blood, urine, saliva, stomach wash/gastric juice, tissue and others. Blood segment held 55.6 % market share in 2022, amassing US$ 29.50 million. It is projected to garner US$ 44.73 million by 2028 to expand at 7.2 % CAGR during 2022–2028.
Based on diagnostic procedure, the South & Central America gastric cancer diagnostic procedure market is categorized into endoscopic procedure, biopsy and tissue tests, lab test, in-vitro diagnostic tests, imaging test, molecular diagnostics, multiplexing molecular diagnostics, immunoassay, and others. The imaging segment held 41.1% market share in 2022. It was assessed at US$ 21.81 million in 2022 and is likely to hit US$ 31.94 million by 2028, exhibiting a CAGR of 6.6% during the forecast period.
Based on offering, the South & Central America gastric cancer diagnostic procedure market is segmented into instruments, reagents & consumables and services. Reagents & Consumables segment held 46.8 % market share in 2022, amassing US$ 24.82 million. It is projected to garner US$ 35.95 million by 2028 to expand at 6.4 % CAGR during 2022–2028.
Based on disease condition, the South & Central America gastric cancer diagnostic procedure market is segmented into early gastric cancer and gastric cancer advanced types. The Gastric cancer advanced type segment held 80.9 % market share in 2022, amassing US$ 42.91 million. It is projected to garner US$ 64.11 million by 2028 to expand at 6.9% CAGR during 2022–2028.
Based on country, The South & Central America gastric cancer diagnostic procedure market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that the Rest of South & Central America captured 38.03 % market share in 2022. It was assessed at US$ 20.17 million in 2022 and is likely to hit US$ 29.28 million by 2028, exhibiting a CAGR of 6.5% during the forecast period
Key players dominating the Europe gastric cancer diagnostic procedure market are Bio-Rad Laboratories Inc; F. Hoffmann-La Roche Ltd; bioMerieux SA; Thermo Fisher Scientific Inc; Illumina Inc; and Vela Diagnostics Holding Pte Ltd among others.
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