The rise in cancer cases in Europe has caused immense pressure on the healthcare system. Furthermore, supporting initiatives for early cancer diagnosis, investments and funding for cancer research, and advancements in cancer diagnostics technology drive the demand for cancer diagnostics. This article explores the rising demand for cancer diagnostics in clinical and research settings and focuses on its crucial role in identifying the best cancer diagnosis and treatment pathways.
Supporting Initiatives for Early Cancer Diagnosis
Due to the high burden of cancer and high mortality rates, the authorities in the European region have launched programs and initiatives for cancer diagnosis and treatment. For instance, in March 2023, the University of Latvia initiated a project Towards Gastric Cancer Screening Implementation in the European Union (TOGAS). This project involves three pilot studies designed to address specific aspects of gastric cancer screening and early detection. This project is co-funded by the European Union, and the project duration is from March 2023 to March 2026. Additionally, according to the European Commission, as of 2020, 25 EU Member States had introduced population-based screening programs in their National Cancer Control Plans for breast cancer, 22 for cervical cancer, and 20 for colorectal cancer.
Furthermore, the European Commission launched the Beating Cancer Plan in 2021, which includes the innovative approach to cancer detection proposed in September 2022. The Commission will support Member States in ensuring that 90% of the EU population who qualify for breast, cervical, and colorectal cancer screenings are offered such screening by 2025. The proposal also expands population-based organized cancer screening to include lung, prostate, and, under certain circumstances, gastric cancers.
Such initiatives to improve diagnosis, treatment, and cancer patient care will lead to the adoption of cancer testing in Europe, driving market growth.
Rising Cancer Prevalence Coupled with Technological Advancements
The burden of cancer is growing in Europe. According to GLOBOCAN, cancer incidence is expected to increase from 4.4 million in 2022 to 5.1 million in 2035. Early detection is extremely important in reducing mortality, improving patients’ chances of survival, and saving on treatment costs. Various methods are used to detect cancer. The demand for cancer testing in Europe is expected to grow significantly in the coming years. Traditional cancer therapies involve treatment approaches that are non-partial toward cancer cells and can result in many serious side effects.
New targeted cancer treatments (precision oncology) use genomic data to provide patient-specific therapies. Precision oncology is developing rapidly and has become mainstream among clinical practices. It involves molecular profiling of cancer cells to identify targetable alterations, also known as biomarkers. Quick and reliable sequencing of multiple genes simultaneously is possible using advanced profiling technologies such as next-generation sequencing (NGS). The use of advanced profiling technologies, such as NGS and PCR, is gaining traction in the treatment of cancer due to their high accuracy and declining testing costs. Furthermore, NGS has helped develop precision medicine, which involves tailoring treatments based on disease-causing molecular changes in a person's body. While NGS is used in various scenarios, oncologists use it to sequence their patients' biopsy samples to determine the right medicines that can target the genetic abnormalities driving tumor growth. Thus, the growing adoption of NGS and sequencing technologies for cancer diagnosis is further expected to drive market growth.
Europe Cancer Diagnostics Market Analysis
Recent insights from Meticulous Research® provide valuable perspectives on the future trajectory of the Europe cancer diagnostics Market. Projections suggest a potential worth of $ 12.21 billion by 2031, driven by a remarkable Compound Annual Growth Rate (CAGR) of 5.6% from 2024 to 2031.
As the regional landscape takes shape, Germany is expected to hold a substantial market share in 2024. Notably, influential industry players, including Thermo Fisher Scientific Inc. (U.S.), Siemens Healthineers AG (Germany), and GE HealthCare Technologies Inc. (U.S.), have established a broad presence across various regions, leading to the widespread adoption of their cancer diagnostics products for several diagnostics and research purposes. In essence, this comprehensive overview from Meticulous Research serves as a gateway into the Europe Cancer Diagnostics market.
Conclusion
The rise in cancer cases in Europe has propelled the demand for the Europe cancer diagnostics market. Additionally, cancer diagnostics, facilitated by advanced technologies such as NGS and PCR, is reshaping the approach of researchers and oncologists toward cancer diagnosis and treatment, making it more effective and precise.
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