Cancer Immunotherapy Drug Discovery Outsourcing Market Worth $1.7 Billion by 2025

The global cancer immunotherapy drug discovery outsourcing market size is projected to reach USD 1.7Billion by 2025, according to a new report by Grand View Research, Inc., rising at a CAGR of 13.5% during the forecast period. Increasing prevalence of cancer and rising mortality associated with cancer, along with growing development in the field of cancer immunotherapy, are anticipated to stimulate the growth of the market.

Blue and white pill inside immersive interface over blue red background with atomic grid. Concept of hi tech in medicine. 3d rendering toned image

In order to maintain pace with the increasing competition in the cancer therapeutics industry, pharmaceutical companies spend 2.5% more than other high tech industries in the in-house R&D. Hence, they are swiftly shifting toward the outsourcing of drug discovery in order to achieve lower in-house R&D costs.

Additionally, favorable tax credit allows pharmaceutical companies to appropriately plan their global projects with a reputed CRO and therefore, receive benefits and reduce problems associated with taxation authorities or other bodies administering such incentive programs.

Several new molecules for cancer immunotherapy and new immunotherapeutic options, such as tumor-infiltrating lymphocytes, checkpoint inhibitors immunomodulators, and CAR-T cell therapy, have been introduced. Some are in the pipeline and are being tested for their ability to provide better cancer treatment

Click the link below:
https://www.grandviewresearch.com/industry-analysis/cancer-immunotherapy-drug-discovery-outsourcing-market

Further key findings from the report suggest:

Monoclonal antibodies emerged as the largest segment in 2017 because of increasing regulatory approvals and higher efficacy
Target identification and validation accounted for the largest share in the global market owing to higher costs incurred and increased investments in new drug development
North America dominated the market with the largest share in 2017. Rising incidence of cancer and increasing demand for novel technologies are facilitating the dominance of the region during the forecast period
Some of the key players are Covance, Inc.; Explicyte; Aquila BioMedical; Horizon Discovery Group PLC; Crown Bioscience, Inc.; Promega Corporation; HD Biosciences Co., Ltd.; BPS Bioscience, Inc.; Genscript Biotech Corporation; DiscoverX Corporation; Celentyx Ltd.; ImmunXperts SA; Personalis, Inc.; STC Biologics; and Molecular Imaging, Inc. dominated the cancer immunotherapy drug discovery outsourcing market.

Cancer Diagnostics Market Worth $249.6 Billion By 2026

The global cancer diagnostics market size is expected to reach USD 249.6 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a 7.0% during the forecast period. Continual introduction of innovative products, coupled with increasing need for early diagnosis of various diseases, is a prime factor driving the market. In addition, rapid growth of the healthcare and diagnostics sector can be attributed to penetration of technologically advanced laboratory systems that have improved oncological screening in yielding accurate outcomes. Rising incidence of cancer is triggering demand for these screening tests and imaging modalities used for monitoring disease progression.

Collaborative and independent initiatives led by governments and companies are striving to raise cognizance about the benefits of early cancer diagnosis. In addition, cancer research organizations, along with public and private entities, are investing heavily on research projects to launch advanced diagnostic tools in the market, which are capable of diagnosing the disease much before the symptoms appear.

Furthermore, giant players are collaborating with governments and other agencies to enhance patient accessibility to these tests and products. For instance, Illumina, Inc. launched a new venture called GRAIL with investors, Jeff Bezos and Bill Gates, with an investment of more than USD 100 million. GRAIL is mainly focused on blood-based oncological screening for timely diagnosis of the most common tumor types through simple laboratory tests.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/cancer-diagnostics-market

Further key findings from the report suggest:

Rapid adoption of technology and escalating need for early diagnosis is augmenting the growth of imaging systems. Thus, the segment is expected to exhibit the fastest CAGR at 8.0% during the forecast period
The breast cancer segment accounted for the largest share based on application due to high incidence rate of breast cancer triggering the need for its early diagnosis
In 2018, North America dominated the global space with the largest revenue share of 42.0%. Focused research efforts in oncology for development of early tumor detection tools, coupled with grants from government healthcare agencies, are contributing to a strong medical ecosystem to fight cancer in this region
Asia Pacific is expected to emerge as the fastest growing region during the forecast period. Favorable regulatory framework and growing patient pool in India, China, and Japan due to support in diagnostic process at comparatively lower prices are some of the factors boosting the market growth in this region
Major players competing in this market include GE Healthcare; Abbott; Hoffmann-La Roche Ltd.; and Siemens Healthcare GmbH. Other prominent players include but are not limited to Becton Dickinson & Company; Illumina, Inc.; Koninklijke Philips N.V.; and Hologic, Inc.

Cancer Biomarkers Market Worth $33.7 Billion By 2025

The global cancer biomarkers market size is expected to reach a value of USD 33.7 billion by 2025, at a CAGR of 14.3% based on a new report by Grand View Research, Inc. Growing initiatives for development of drugs targeting novel cancer biomarkers coupled with the introduction of technologically advanced companion diagnostic kits is estimated to provide the market with high growth potential. Increasing awareness about personalized medicines amongst patients is further anticipated to boost adoption of cancer biomarkers.

In addition, presence of favorable government initiatives for the development of novel cancer diagnostic techniques is a key factor for market growth. For instance, the National Cancer Institute (NCI) provides funding to more than 8 research areas pertaining to cancer biomarker development. Cancer Research UK, Lung Cancer Research Foundation, and National Institutes of Health are some of the organizations providing funding for biomarker research.

People with high alcohol consumption, tobacco usage, unhealthy food habits, and sedentary lifestyle are reported to be 80% more at risk of developing cancer as compared to other individuals. Infections such as Human papillomavirus (HPV), Epstein-Barr virus, Hepatitis B virus, and Helicobacter pylori are also been studied to be related in cancer development.

Click the link below:
http://www.grandviewresearch.com/industry-analysis/cancer-biomarker-market

Further Key findings from the study suggest:

Breast cancer was the largest segment by revenue share in 2016 owing to high prevalence of this type of cancer
Lung cancer is estimated to be the fastest-growing type due to increasing research activities toward development of novel lung cancer biomarkers
Genetic biomarkers, being the highest used and easily detectable held the majority share of cancer biomarker market by biomolecule in 2016
However, epigenetic biomarkers are anticipated to witness lucrative growth due to increasing focus on finding the role of epigenetic modifications in cancer development
Cancer biomarkers are majorly used for diagnostic purpose owing to their high specificity
The personalized medicine segment is estimated to witness fastest CAGR of 15.0% over the forecast period
North America dominated in terms of revenue share in 2016 due to established R&D infrastructure and high acceptance of biomarker-based cancer testing in this region
Asia Pacific is anticipated to grow at a substantial growth rate till 2025 with CAGR of over 16.7%
Some of the major companies in the cancer biomarkers market are Abbott Laboratories; F.Hoffmann-La Roche Ltd.; QIAGEN; Thermo Fisher Scientific Inc.; Affymetrix Inc.; Illumina, Inc.; Agilent Technologies; Merck & Co. Inc.; Hologic, Inc.; Sino Biological Inc.; and Becton, Dickinson and Company

MRI Market Size Worth $8.18 Billion By 2027

The global magnetic resonance imaging market size is expected to reach USD 8.18 billion by 2027, registering a revenue-based CAGR of 5.9% during the forecast period, according to Grand View Research, Inc. Rising prevalence of chronic diseases coupled with increasing demand for early diagnostic techniques is projected to drive the growth. In addition, growing adoption of less invasive diagnostic procedures is contributing to the magnetic resonance imaging (MRI) market growth. Moreover, increasing number of clinical trials to understand the effectiveness and efficiency of MRI machines in various clinical applications is expected to boost the growth.

End-users, such as research institutes and universities are frequently studying the efficiency of MRI devices with high field strength such as 7T, 10T, and 10.5T. Growing number of research studies will help unlock the potential usage and advantages of high field MRI machines for various preclinical as well as clinical applications. Currently, 7T MRI machines are only effective in brain and knee imaging, largely due to the absence of advance coil required for these high field machines. Therefore, the development of advance coils to expand the application of 7T MRI machines is expected to propel the growth during the forecast period.

Key market players are adopting various strategies, such as mergers and acquisitions, collaborations, and partnerships to gain competitive edge. For instance, Aurora Imaging Technology entered into a distribution agreement with Sumec Group Corporation. Under this distribution agreement, the latter will distribute MRI portfolio of Aurora Imaging Technology in China. This in turn is helping both the companies in geographical expansion.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/magnetic-resonance-imaging-market

Further key findings from the report suggest:

Open system is anticipated to be the fastest growing segment during the forecast period due to its efficiency to accommodate patients of all sizes without them feeling claustrophobic
Magnetic resonance imaging (MRI) market for neurological and brain disorders held the dominant market share in 2019, largely due to high prevalence of neurological conditions and demand for less invasive diagnostic procedure
The high field MRI segment is expected to experience fastest growth over the forecast period, largely due to efficiency of the field strength to provide detailed diagnostic images
Ambulatory Surgical Centers (ASC) are expected to exhibit the fastest CAGR during the forecast period. Government initiatives to improve primary care is one of the major factor impacting the growth
In 2019, North America dominated the global MRI market in terms of revenue, owing to continuous research activities and high adoption of advanced techniques
Asia Pacific is anticipated to expand at the fastest CAGR during the forecast period, largely due to a rise in clinical studies for high field MRI machines

Plastic Surgery Instruments Market Size Worth $1.9 Billion By 2026

The global plastic surgery instruments market size is expected to reach USD 1.9 billion by 2026, according to a new report by Grand View Research, Inc, exhibiting a CAGR of 8.8%. Increasing number of surgical procedures coupled with technological advancements is anticipated to drive the market. Moreover, increasing awareness about plastic or reconstructive surgeries and improving affordability of related healthcare services are expected to aid growth over the forecast period.

Several key players are investing on R&D to launch innovative products. Moreover, rise in disposable income, improvement of standard of living, high social media influence, and increase in awareness among people are some of the factors boosting the number of surgical procedures. Plastic and reconstructive surgeries are performed mainly to restore tissue function and improve the body’s appearance caused by trauma, burns, birth disorders, or any other disease.

According to WHO, 10 million people are injured or disabled due to road accidents every year, leading to extensive wound surgeries. This is expected to increase the number of plastic surgeries. The number of breast augmentation procedures has also increased by 4.3%, from 313,735 procedures in 2018 to 300,378 procedures in 2017. In addition, women with implants are also required to undergo additional surgeries due to complications such as leakage, scars, or shift of implants. High cost of implants coupled with rising demand is propelling demand for surgical instruments for breast procedures, thereby driving the overall market. Moreover, with rising healthcare expenditure in emerging economies, the number of plastic and cosmetic surgeries has increased to enhance aesthetic appeal, thus driving growth.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/plastic-surgery-instruments-market

Further key findings from the study suggest:

North America accounted for largest share owing to favorable reimbursement policies, presence of key local market players, and government initiatives
Asian countries are estimated to show the highest growth rate of over 12%, due to rising technological advancements, increasing investments, improving reimbursement scenario, and growing medical tourism
Handheld surgical instruments dominated the products segment with over 70% share in 2018 driven by easy availability and high use of these instruments in invasive and minimally invasive surgeries
Some of the key companies of plastic surgery instruments market are Sklar Surgical Instruments; Zimmer Biomet holdings, Inc.; B. Braun Melsungen AG; Blink Medical Ltd.; Bolton Surgical Ltd.; Integra Life Sciences; Karlz Storz; and Anthony Product, Inc.