Metastatic Melanoma Cancer Diagnostic Market

Metastatic Melanoma Cancer Diagnostic Market Study by Biopsy, Chest X-ray, Ultrasound, CT SCAN, MRI, and PET SCAN from 2024 to 2034

Analysis of Metastatic Melanoma Cancer Diagnostic Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Metastatic Melanoma Cancer Diagnostic Market Outlook (2024 to 2034)

The metastatic melanoma cancer diagnostic market is estimated to be valued at US$ 3,632.6 million in 2024. Projections indicate a healthy expansion with a CAGR of 7.70% through 2034. Anticipated growth is set to propel the market to an impressive size of US$ 7,601.0 million by 2034.

Advancements in early detection technologies contribute to increased diagnosis rates, fueling the market growth. In the last few years, there has been a rise in the incidences of metastatic melanoma cancer in the general population. This has significantly pushed the demand for effective treatments and procedures that mitigate the impact of metastatic melanoma.

The metastatic melanoma cancer diagnostic market generated an estimated revenue of US$ 2,670.3 million in 2019. In five years, the market grew at a pace of 6.34% and added a revenue of US$ 962.3 million.

Report Attributes Details
Estimated Market Value (2024E) US$ 3,632.6 million
Forecasted Market Value (2034F) US$ 7,601.0 million
Global Market Growth Rate (2024 to 2034) 7.70% CAGR
Biopsy Segment Growth Rate (2024 to 2034) 27.0%
Pathology Laboratories Segment Growth Rate (2024 to 2034) 51.8%
North America Market Share (2024) 47.60%
East Asia Market Share (2024) 2.20%
Key Companies Profiled
  • Roche Diagnostics
  • Siemens Healthineers
  • Thermo Fisher Scientific
  • Abbott Laboratories
  • Qiagen
  • Bristol Myers Squibb
  • Illumina
  • Bio-Rad Laboratories
  • Myriad Genetics
  • Genomic Health
  • Agilent Technologies
  • Exact Sciences Corporation
  • BioMérieux
  • Hologic, Inc.
  • NanoString Technologies
  • Guardant Health
  • Sysmex Corporation
  • Foundation Medicine
  • GRAIL
  • Menarini Silicon Biosystems

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Which Factors Have Driven the Global Surge in Metastatic Melanoma Cancer Diagnostic Demand?

“Increasing Incidence Rates and Public Awareness and Education to Complement the Demand for Metastatic Melanoma Cancer Diagnostic Treatments”

According to a survey conducted by the National Library of Medicine, melanoma is a common cutaneous malignancy after basal cell carcinoma and squamous cell carcinoma. These rising incidences have driven the global demand for metastatic melanoma cancer diagnostics in the medicare industry.

Post-pandemic, the general population worldwide is also pushing toward preventive care rather than solely focusing on reactive healthcare measures. Individuals are concerned about the dangers of skin cancer and the importance of early detection. This has pushed them to seek regular screenings and consultations, subsequently driving up diagnostic demand.

“Advancements in Diagnostic Technologies, and Government Initiatives to Amplify Market Growth”

In the last few decades, the Medicare sector has undergone a noticeable transition. These ongoing developments in diagnostic technologies, such as molecular profiling, imaging techniques, and biomarker identification, have significantly enhanced the capabilities of the medicare sector, particularly in the domain of cancer diagnostics. It is because of these innovations that patients are increasingly trusting metastatic melanoma cancer diagnostics, thus expanding the market growth.

Governments in countries like India, the United States, China, Japan, etc., are also investing heavily to promote awareness regarding the prevention and early detection of cancer. Government-led diagnostic centers and testing camps also bring a substantial amount of potential consumers to the market.

Which Factors Present Challenges to the Expansion of the Metastatic Melanoma Cancer Diagnostic Market?

“Limited Awareness and Education, Cost of Advanced Diagnostics, and Global Economic Factors to Slow down Market Growth”

Limited awareness and education among the general population about the benefits of metastatic melanoma cancer diagnostic treatments is slowing down the market growth. Despite the active promotion by the government as well as private healthcare facilities, there remains a considerable knowledge gap in the common population regarding this, which is significantly hampering the market growth. This factor keeps a substantial amount of cost-sensitive consumers, especially from underdeveloped and developing parts of the world, away from the market. Besides this, global economic factors, such as recessionary economies and financial uncertainties, also slow down the market growth for metastatic melanoma cancer diagnostic treatments.

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Country-wise Insights

The North American metastatic melanoma cancer diagnostic market is poised for exceptional growth, projecting a healthy CAGR of 8.40% through 2034. The surge is primarily attributed to increasing demand for metastatic melanoma cancer diagnostics in key countries, notably the United States and Mexico. In 2024, the United States dominates the metastatic melanoma cancer diagnostic industry with an estimated 83.10% market share. Meanwhile, the market for metastatic melanoma cancer diagnostic in East Asia is anticipated to exhibit substantial progress, aiming for a 10.20% CAGR in 2024. In this region, China emerges as the key player in the industry, commanding a significant share of 76.20% in 2024.

Why is the United States Leading the Metastatic Melanoma Cancer Diagnostic Market in the North American Region?

“Advanced Healthcare Infrastructure and High Incidence Rates in the Country to Augment Growth”

The North American market stood at US$ 1,728 million in 2024, acquiring a revenue share of 47.6%, and is further projected to expand at a CAGR of 8.40% through 2034. The United States metastatic melanoma cancer diagnostic industry is estimated to be worth US$ 1,436 million in 2024. The demand for metastatic melanoma cancer diagnostic in the United States is projected to rise at a CAGR of 8.7% through 2034.

The United States of America is blessed with several drivers, making it the leading country in the metastatic melanoma cancer diagnostic market. The country has one of the advanced and sophisticated healthcare ecosystem, with progressive medical facilities, laboratories, and diagnostic centers. This infrastructure enables rapid adoption and implementation of advanced diagnostic tools for metastatic melanoma. Besides this, the United States is one of the leading countries in metastatic melanoma cancer incidences. All these factors have positioned the United States as one of the top countries in this market.

Why is China Commanding the East Asian Metastatic Melanoma Cancer Diagnostic Market?

“Healthcare Facilities and Expertise, and Rising Medical Tourism to Help Market Expansion”

The China metastatic melanoma cancer diagnostic industry is estimated to be worth US$ 60 million in 2024, garnering a share of 76.2% in the East Asian region. The sales of metastatic melanoma cancer diagnostic are likely to record a CAGR of 10.4% through 2034.

China's investment in developing world-class healthcare facilities, coupled with advancements in medical research and technology, has enhanced its capabilities in cancer diagnostics. This has made the adoption of advanced diagnostic technologies more prevalent in the country. Besides this, the presence of skilled healthcare professionals has appreciably contributed to the country's leadership in the metastatic melanoma cancer diagnostic market. The country is also an international hub for medical tourism. Every year, millions of patients from across the world flock to the country for its world-class healthcare facilities.

Category-wise Insights

Based on the test type, the biopsy segment is estimated to hold a 27.0% market share in 2024. Simultaneously, the PET scan segment is anticipated to secure a 32.0% share, contributing significantly to the market's resource diversity and stability. Based on end users, the pathology laboratories segment marks its dominance in the metastatic melanoma cancer diagnostic industry, with a share of 51.80% in 2024.

Why are Pathology Laboratories Relying on Metastatic Melanoma Cancer Diagnostic Solutions Skin Cancers?

“Precision and Accuracy and Early Detection and Staging Makes Metastatic Melanoma Cancer Diagnostic a Perfect Choice”

Metastatic melanoma cancer diagnostic treatments are gaining a lot of impetus in the healthcare industry, primarily due to their precision and accuracy in identifying the nature and characteristics of melanoma cells. Pathologists rely on these solutions to ensure accurate diagnosis and staging, guiding appropriate treatment strategies.

The demand for metastatic melanoma cancer diagnostic treatments in pathology laboratories is also skyrocketing due to its ability to help detect the cancer in its early stages. This reduces the complexities and improves the success rates for treatment interventions. Pathology laboratories also prefer these methodologies as they offer a more comprehensive assessment of metastatic melanoma. These benefits collectively contribute to advancements in patient care, further contributing to the widespread market adoption.

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Competitive Landscape

The global market for metastatic melanoma cancer diagnosis consists of a multitude of companies, such as Roche Diagnostics, Siemens Healthineers, Thermo Fisher Scientific, Abbott Laboratories, Qiagen, etc. These industry giants have a strong foothold in the global market for metastatic melanoma cancer diagnostic treatments due to their prolonged presence and experience. They also invest in the research and development of advanced diagnostic technologies. Small companies have to rely on these companies to implement technological additions to their equipment.

Recent Development

  • In February 2023, Avero Diagnostics successfully launched AMBLor, a groundbreaking laboratory test for early-stage melanoma identification at low risk of progression. The technology was licensed from AMLo Biosciences in September 2022.
  • In June 2023, DeepX Diagnostics received FDA 510(k) clearance for its digital dermatoscope, DermoSight. Having conducted over 180,000 assessments in Europe, it is set to enter the U.S. market.
  • In February 2023, Dermalyser exhibited promise, demonstrating a 95% sensitivity and 86% specificity in primary care settings, offering a potential AI-driven solution to identify malignant melanomas and alleviate dermatologists' workloads.

Metastatic Melanoma Cancer Diagnostic Market - Segmentation

  • By Test:

    • Biopsy
      • Local excision/excisional biopsy
      • Punch biopsy
      • Shave biopsy
      • Fine needle aspiration (FNA) biopsy
      • Sentinel lymph node biopsy
    • Chest X-ray
    • Ultrasound
    • CT Scan
    • MRI
    • PET SCAN
  • By Service Provider:

    • Hospitals
    • Pathology Laboratories
    • Cancer Research Centres
  • By Region:

    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • The Middle East & Africa (MEA)

- FAQs -

What was the Value of the Metastatic Melanoma Cancer Diagnostic Market in 2019?

The global metastatic melanoma cancer diagnostic market was worth US$ 2,670.3 million in 2019.

What is the Sales Outlook for Metastatic Melanoma Cancer Diagnostic in 2024?

The sales outlook for metastatic melanoma cancer diagnostic is likely to be valued at US$ 3,632.6 million in 2024.

What is the Demand Forecast for Metastatic Melanoma Cancer Diagnostics for the decade?

Demand for metastatic melanoma cancer diagnostic is expected to reach a market value of US$ 7,601.0 million by the end of 2034.

What is the Adoption Growth Projection for Metastatic Melanoma Cancer Diagnostic Solutions?

The adoption of metastatic melanoma cancer diagnosis is projected to rise at a CAGR of 7.70% through 2034.

At What Rate Is the Market in North America Predicted to Grow?

The North American market for metastatic melanoma cancer diagnosis is forecast to expand at a CAGR of 8.40% through 2034.

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Metastatic Melanoma Cancer Diagnostic Market

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