The Business Research Company’s report on the Skin Cancer Diagnostics Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How are market drivers shaping the future growth trajectory of the skin cancer diagnostics industry?
The increase in the incidence of melanoma is expected to propel the growth of the skin cancer diagnostics market going forward. Melanoma is a type of skin cancer that develops in the cells that produce melanin, the pigment responsible for skin color, hair, and eyes. Skin cancer diagnostics are crucial in identifying and characterizing skin lesions, aiding in early detection, accurate diagnosis, and effective treatment planning for skin cancer. For instance, in 2023, according to the report published by the American Cancer Society Inc., a US-based nationwide voluntary health organization dedicated to eliminating cancer, the number of male individuals suffering from melanoma in the United States increased from 57,180 in 2022 to 58,120 in 2023. Furthermore, in March 2023, according to the American Society of Clinical Oncology, a US-based professional organization representing all oncology physicians, melanoma accounts for around 1% of all skin cancers diagnosed in the United States. Yet, it is responsible for most skin cancer mortality. Melanoma is expected to kill 7,990 people in the United States in 2023 (5,420 males and 2,570 women). Therefore, an increase in incidences of melanoma is driving the growth of the skin cancer diagnostics market.
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What is the estimated market size of the skin cancer diagnostics sector by 2029, based on current forecasts?
The skin cancer diagnostics market size has grown strongly in recent years. It will grow from $3.13 billion in 2024 to $3.39 billion in 2025 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to increased incidence of skin cancer, growing aging population, awareness and education programs, government initiatives for early detection
The skin cancer diagnostics market size is expected to see strong growth in the next few years. It will grow to $4.69 billion in 2029 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to rising sun exposure awareness, personalized medicine approaches, telemedicine and remote monitoring, global expansion of healthcare infrastructure. Major trends in the forecast period include integration of digital health platforms, innovative skin cancer drugs, multi-disciplinary approaches, dermatopathology innovations, patient education and awareness.
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Who are the top players in the skin cancer diagnostics market?
Major companies operating in the skin cancer diagnostics market include Pfizer Inc., F. Hoffmann-La Roche Limited, Merck & Co., Bayer AG, Novartis AG, Bristol-Myers Squibb Company, Sanofi, Eli Lilly and Company, Canon Medical Systems Corporation, Amgen Inc., GE Healthcare, Daiichi Sankyo Company Limited., National Cancer Institute, Agilent Technologies Inc., bioMerieux SA, Teva Pharmaceutical Industries, Bruker Corp, Almirall, Genentech, Castle Biosciences, Sun Pharmaceutical Industries Limited., American Academy of Dermatology, Biolitec Ag, Alma Lasers, DermTech Inc., SkylineDx BV, DermLite LLC, AMLo Biosciences Limited
What are the major trends in the skin cancer diagnostics market?
Major companies involved in the skin cancer diagnostics market are focused on innovating new products, such as the PRAME protein, to enhance detection and treatment strategies for melanoma and other skin cancers. PRAME (Preferentially Expressed Antigen in Melanoma) is a cancer/testis antigen that has shown potential as a biomarker in melanoma diagnostics. For Instance, In October 2022, Roche, a Switzerland-based global healthcare company, launched PRAME (EPR20330) Antibody. PRAME (EPR20330) Antibody is a melanoma-associated antigen specializing in detection of PRAME protein expression in tissue samples from patients suspected of having melanoma The antibody assists in distinguishing between benign and malignant lesions. Detection of PRAME expression suggests malignancy, which is critical for accurate diagnosis and treatment planning.
Which geography holds the highest skin cancer diagnostics market share?
North America was the largest region in the skin cancer diagnostics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the skin cancer diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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How do different segments contribute to the overall expansion of the skin cancer diagnostics market?
The skin cancer diagnostics market covered in this report is segmented –
1) By Cancer Type: Basal Cell Carcinoma, Squamous Cell Carcinoma, Malignant Melanoma, Other Cancer Types
2) By Type: Diagnosis, Therapeutics
3) By Application: Hospital, Clinic, Laboratory, Other Applications
Subsegments:
1) By Basal Cell Carcinoma: Diagnostic imaging Techniques, Biopsy Procedures, Molecular Diagnostic Tests
2) By Squamous Cell Carcinoma: Diagnostic imaging Techniques, Biopsy Procedures, Molecular Diagnostic Tests
3) By Malignant Melanoma: Diagnostic Imaging Techniques, Biopsy Procedures, Molecular Diagnostic Tests
4) By Other Cancer Types: Non-Melanoma Skin Cancers, Dermatofibrosarcoma Protuberans, Merkel Cell Carcinoma
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How is the skin cancer diagnostics market defined?
Skin cancer diagnostics refers to the processes and methods healthcare professionals use to identify and determine the presence of skin cancer in individuals. These diagnostics typically involve a combination of clinical examination, imaging techniques, and laboratory tests to evaluate suspicious skin lesions and assess the extent and characteristics of the cancer.
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