Increasing Incidences of Skin Cancer Driving Demand for Melanoma Cancer Diagnostics

Rockville, MD -- (SBWire) -- 05/06/2019 --The report on the melanoma cancer diagnostics market provides key insights, forecast, and in-depth analysis on the market. The melanoma cancer diagnostics market report also includes macro-economic and micro-economic factors playing an important role in the growth of the market. Market dynamics such as drivers, trends, opportunity, and challenges are also offered in the study. The melanoma cancer diagnostics market has also been analyzed on the basis of key regions and countries. Qualitative and quantitative analysis of the melanoma cancer diagnostics market is also included in the research study. The report provides insights, and forecast on the market along with an analysis of the melanoma cancer diagnostics market. The study on the melanoma cancer diagnostics market also includes all the micro-economic and macro-economic factors contributing to the the growth of the melanoma cancer diagnostics market. The report also provides market dynamics including key trends, drivers, restraints and opportunities in the melanoma cancer diagnostics market.

According to a latest market research by fast-growing market research and consulting firm, the global melanoma cancer diagnostics market is poised to grow at over 7% CAGR and surpass US$ 853.5 million in revenues by 2022. Fact.MR's report forecasts that North America and Europe will remain the most lucrative markets for melanoma cancer diagnostics market globally.

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Increasing Incidences of Skin Cancer Driving Demand for Melanoma Cancer Diagnostics

According to the World Health Organization (WHO), around 132,000 melanoma skin cancers occur worldwide every year. It is also estimated that about 10% decrease in ozone levels is likely to result in 4,500 melanoma skin cancer cases. There were nearly 300,000 new melanoma of skin cases in 2018, as per the American Institute of Cancer Research.

With the number of skin cancer cases going up in the past few years, focus on providing early detection and diagnosis is increasing. Melanoma cancer is on a rise owing to the changing environmental conditions and increasing exposure to UV rays. This is driving the demand for rapid diagnostics for early detection of melanoma cancer.

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 Segment-wise analysis of the melanoma cancer diagnostics is highlighted in the report to identify and provide details on the existing market opportunities. The melanoma cancer diagnostics market is segmented on the basis of test type and end user. These segments are further divided into sub-segments to offer better understanding of melanoma cancer diagnostics market.

Absence of Accurate Diagnostic Methods to Remain Key Challenge

With rise in cases of melanoma skin cancer across various regions, researchers and scientists are focusing on developing more precise methods of diagnosis along with cost-effectiveness. According to the Agency of Healthcare Research and Quality, cancer is one of the most expensive conditions to treat in the US. Moreover, insurance providers with cost sharing measures are also shifting a huge portion of the medical cost to patients. This has resulted in more out-of-pocket cost for diagnosis and treatment of skin and other types of cancer.

Diagnostic accuracy for melanoma varies significantly with potential financial implications. With advanced diagnostics technologies, the cost of diagnostic procedures, screening, treatment, and medical follow-up is also increasing. According to the study published in the American Journal of Preventive Medicine, in 2007-2011, the average annual cost for skin cancer increased by 126%. Economic burden of skin cancer treatment is significantly increasing with a substantial increase in cost in diagnostics and treatment for melanoma.

Based on the test type, the melanoma cancer diagnostics market is segmented into Fluorescent in Situ Hybridization (FISH) Tests, Immunohistochemical (IHC) Tests, and Comparative Genomic Hybridization (CGH) Tests. On the basis of end-user, the melanoma cancer diagnostics market is segmented into Pathology Laboratories, Hospitals, and Cancer Research Centres.

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