The global ovarian cancer diagnostics market size is expected to reach USD 2 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 6.2%. The growth of the market can be attributed to an increase in the prevalence of ovarian cancer and emergence of novel diagnostic products. As of 2018, ovarian cancer had the highest mortality rate of all gynecologic cancers. It accounted for nearly 14,000 deaths in the U.S. in 2018. No specific symptoms render early diagnosis of the disease increasingly difficult. The exact causative factors remain unknown, creating a key unmet need for further research to obtain clarity on the underlying molecular mechanisms.
Women aged 60 years & above have a higher predisposition to it. As it is often diagnosed in advanced stages, treatment options are limited. Moreover, on the basis of race, incidence rates were higher among Caucasian women than African-American women. The International Federation of Gynecology and Obstetrics (FIGO) system is used for staging ovarian cancer. Staging process helps identify ovarian tumors, calculate their size, and detect invasion & metastasis.
Early detection and diagnosis significantly improve patient survival rates. For instance, in case of epithelial tumors, patients with stage 1 ovarian cancer have a survival rate of nearly 90%, whereas patients with stage 4-the most advanced phase-have a mere 15% survival rate. Technological advancements in PET and MRI as well as in diagnosis of BRCA mutations have positively impacted market growth.
The diagnostic landscape is gradually shifting toward genetic testing and counseling. As the disease bears a high risk of inheritance of gene mutation, guidelines pertaining to ovarian cancer diagnostics recommend all patients to undergo genetic counseling and testing. Earlier, BRCA1/2 was the most prominent test; however, advancements in medical science have now made it possible to test more than 20 genes in each patient.
Incidence of ovarian cancer worldwide has been declining over the past decades
Although ultrasound imaging is the fist-line of diagnosis, the technique cannot be used for staging the disease
Computerized Tomography (CT) imaging is preferred for staging the disease
CA125 remained the mainstay in blood test biomarkers in 2018
HER2 and BRCA1/2 tests are expected to witness a rapid growth during the forecast period owing to the rising awareness of early diagnosis and genetic tests
The ovarian cancer diagnostics market in Asia Pacific is expected to grow at a high rate during the forecast period.
The head mounted display market has witnessed substantial growth over the past few years, with a study by Grand View Research stating that increased proliferation of the technology in various critical end-use sectors such as healthcare and manufacturing has heavily aided in the positive development of the industry.
The global head mounted display market size is projected to reach USD 11,793.3 million by the year 2020, as per a study by Grand View Research, Inc. A head mounted display, or HMD, is a display device consisting of a small display optic, either in front of one or both the eyes. The continued adoption of technology and innovation in major industries such as gaming and entertainment, military and defense, simulation, sports, and healthcare, among others, has led to a widespread acceptance and adoption of these devices. Furthermore, there has been a sharp drop in silicon wafer costs globally, which has had a direct impact on micro-display prices, which account for a sizable percentage of the resultant HMD cost. Moreover, the growing demand for wearable, lightweight devices among a sizable global population is expected to be a key driving force for the HMD market.
Defense services are a key contributor to global demand, wherein head-mounted displays aid in security, imaging, and tracking. With the continued heavy investments by governments into their respective national defense infrastructure, there is a huge scope for sustained growth in the manufacturing and demand of innovative equipment, such as HMDs. The residential and consumer sector also has shown high affinity for such products, mainly for gaming and entertainment purposes, which has driven the market growth. Head-mounted displays offer a high degree of mobility and computing power, as well as a highly immersive and enriching experience. The arrival of virtual reality (VR) and augmented reality (AR) in the consumer space has also heightened expectations of innovation from HMD manufacturers. Additionally, the rising demand from the automotive prototyping space is expected to offer a key growth opportunity for industry participants. Training and simulation is another major industry growth driver, as the technology is safe and feasible for trainees for facing scenarios that can be risky in real-life, such as driving and aviation.
The global head mounted display market is broadly segmented on the basis of product, end-use, and application. With regards to product, the market is classified into helmet mounted display and wearable glass; the major end-use segments include defense and consumer, with consumer end-use comprising AR, VR, and gaming. The notable application areas of HMD include imaging, security, tracking, and training and simulation. Some of the notable organizations to have invested and introduced novel products and services in the head mounted display industry include BAE Systems, Google Inc., Imagine Corporation, Seiko, Rockwell Collins, Epson, Vuzix, and Sony Corporation, eMagin Corporation. These companies have indulged in innovative product launches, mergers and acquisitions, as well as collaborations with major industry experts, as their major strategies to expand geographical reach.
The healthcare sector has been steadily witnessing the proliferation of smart glasses and head mounted displays, as they offer clinical usefulness, improve collaborative efforts among institutions, and offer HIPAA compliant technology solutions
Helmet mounted displays accounted for over 60% of the market in 2013, owing to widespread use in the defense segment; however, these products are expected to lose market share due to the growing popularity of wearable glass
The defense segment accounted for over 70% of the HMD market in 2013 and is expected to remain the dominant end-use segment over the forecast period. These devices have proved to be highly efficient during training regimes and in locations with poor visibility.
The increasing popularity of augmented and virtual reality is expected to drive the consumer segment in the near future, as widespread availability of gaming consoles and accessories, coupled with increased disposable income, acting as the major demand drivers
The training and simulation segment is expected to account for a substantial share in the overall market through 2020, on account of the growing use of HMDs in medical as well as military training modules.
North America accounted for more than 35% of the global HMD market in 2013; on the other hand, the Asia Pacific region is expected to exhibit high growth over the coming years
The establishment of manufacturing facilities along with technology advancement due to the presence of Japan, South Korea, and China is expected to fuel regional market growth. Furthermore, the region is steadily emerging as a gaming hub, which is expected to offer numerous growth opportunities to market players
In December 2020, eMagin Corporation announced the signing of a 10-year lease regarding the expansion of their footprint to around 63,000 square feet, as part of their aim to improve their capability for offering high resolution, high brightness OLED microdisplays
In February 2021, Vuzix announced the completion of the first development phase of a customized head mounted waveguide-based display system for assisted medical cancer surgery, in partnership with a US-based medical institute
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.
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.
The global liver disease diagnostics market size is expected to reach USD 48.7 billion by 2027, expanding at a CAGR of 6.5%, according to a new report by Grand View Research, Inc. increasing funding and research initiatives undertaken by market players is one of the major factors expected to propel market growth. For instance, in November 2019, Glycotest, Inc. received the second USD 3.0 million tranche of USD 10.0 million Series A funding from Shanghai Fosun Pharmaceutical Co., Ltd.(Fosun Pharma). Under this investment, Glycotest, Inc. transferred HCC panel technology to Fosun Pharma to commercialize in China and develop tests for liver cancer and liver fibrosis that are currently under pipeline.
Companies are focusing on collaborations and partnership to improve the quality of care,which is anticipated to drive the market. For instance, in October 2019, Perspectum Diagnostics entered into a partnership to offer LiverMultiScan at Precious Medical Center in Singapore. The aim of this partnership was to create awareness among people to consider liver checking as an integral part of their health screening.
Researchers conducting studies to support the development of novel diagnostic methods that can accurately differentiate between benign and malignant lesions are expected to fuel market growth. For instance, researchers from Charité – Universitätsmedizin Berlin used tomoelastography to visualize mechanical properties of tumors and developed a new Magnetic Resonance Imaging (MRI) technique to detect grading of tumor consistency.
Furthermore, companies are conducting clinical trials to develop new tests with high sensitivity and specificity. For instance, Laboratory for Advanced Medicine is conducting a clinical trial on 1,600 patients with liver cirrhosis using invasive biopsy through quantification of cfDNA methylation and comparing it with ultrasound technique. The test is projected to be completed in 2020.
Development and commercialization of accurate diagnostic methods is expected to boost the market. For instance, in March 2020, ENDRA Life Sciences Inc. received CE mark for TAEUS FLIP system. This system measures liver fat to identify and monitor Non-Alcoholic Fatty Liver Disease (NAFLD) and Non-Alcoholic Steatohepatitis (NASH). It is an ultrasound system that accurately and at point of care quantifies fat in the liver.
Imaging segment witnessed the largest market share in 2019 owing to increasing initiatives by key players to develop accurate imaging systems
Based on end-use, the hospitals segments held the largest share in 2019. Factors such as increasing adoption of advanced technologies and favorable reimbursement policies are expected to drive segment growth
North America dominated the market in 2019 due to increasing alcoholic consumption and rising awareness regarding chronic diseases
The market in Asia Pacific is projected to witness the fastest growth over the forecast period owing to the high unmet needs and rising regular check-ups for the diagnosis of diseases.
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