Market Trends of Ovarian Cancer Diagnostics and Therapeutics Industry
This section covers the major market trends shaping the Ovarian Cancer Diagnostics & Therapeutics Market according to our research experts:
CT Scan Segment is Expected to Show Better Growth Over the Forecast Period
Computed Tomography (CT) is an imaging procedure that uses special X-ray equipment to create detailed pictures, or scans, of areas inside the body. It is also called computerized tomography and computerized axial tomography (CAT). This equipment helps to see larger tumors and if the tumor is growing into nearby structures. It also helps to find enlarged lymph nodes, signs of cancer spreading to the liver or other organs, or signs that an ovarian tumor is affecting the kidneys or bladder. With such a high significance of CT scans, there is a growing demand for CT procedures to diagnose ovarian cancer, which is augmenting segment growth.
The increased sensitivity offered by this equipment is one of the major factors driving the growth of this segment. For instance, the data from PubMed published in September 2021 mentioned that the overall sensitivity of CT scan in detecting ovarian cancer is around 60.1%, whereas specificity is 93.7%. Hence, with high specificity and improved technology in CT scans, the segment is expected to witness strong growth in the coming years.
Additionally, the approval from regulatory authorities also boosts the growth of the market. For instance, in September 2021, the United States Food and Drug Administration (USFDA) granted clearance for Siemens NAEOTOM Alpha to Siemens Medical Solutions Inc. It is a technologically advanced computed tomography device designed to transform the information from X-ray photons that pass through a patient's body and are received by a detector into a detailed 3-dimensional image.
Thus, the above-mentioned factors are expected to drive the growth of the studied segment during the forecast period.
North America is Expected to Retain Large Market Share Over the Forecast Period
The North American region is believed to witness a strong share in the market studied. This is majorly attributed to the increasing cases of ovarian cancer in the region and the presence of key players catering to fulfill the growing demand for diagnostics and therapeutics for the same. In the North American region, the United States holds the highest share in the ovarian cancer diagnostics and therapeutics market and has contributed majorly to the same.
According to the American Cancer Society (ACS) report in January 2022, ovarian cancer was the ninth most common cancer and the fifth leading cause of cancer death among women in the United States. Furthermore, the ACS estimated that the number of individuals with ovarian cancer in the United States in 2022 will reach about 19,880, whereas a woman's risk of getting ovarian cancer during her lifetime is about 1 in 78. Additionally, most of the top global ovarian cancer diagnostics players are headquartered in the United States, and this tends to be the major advantage for the country, which is expected to drive the market.
Moreover, the increasing approvals for various advanced diagnostics and therapeutics are expected to drive the growth of the market in the forecast period. For instance, in November 2021, the USFDA approved an imaging drug known as Cytalux (pafolcianine), which is attracted to ovarian cancer tissue and illuminates it when exposed to fluorescent light, allowing surgeons to more easily and more precisely remove cancer.
Thus, the above-mentioned factors are expected to drive the growth of the studied segment during the forecast period.
