Oral Cancer Rapid Test Kit Market Foreseen to Grow Exponentially over 2016 – 2024: Persistence Market Research
The Conventional diagnostic tests available in the market are time-consuming and costly. Currently, very few technologies are available in the market for routine screening of the oral cancers. Hence, companies are trying to develop the Oral Cancer Rapid Testing Kit (OCRTK), which can detect the stage of cancer effectively in less time to perform test at home/clinic.
New York, NY -- (SBWire) -- 05/24/2017 --Oral cancer is one of the largest group of cancers, which comes under category of Head and Neck cancer. It includes lips, tongue, throat, sinuses, and floor of the mouth. About 90% of the oral cancers are squamous cell carcinoma (OSCC). According to oral cancer foundation in 2016, around 48,250 people are diagnosed with oral cancer in the U.S. and has relatively low survival rates. The death rates due to oral cancer are relatively higher due to lack of proper diagnosis test, which can detect oral cancer at the early stage. Hence, early stage diagnosis is an alternative solution that helps prevent the deaths of people infected by oral cancer. The Conventional diagnostic tests available in the market are time-consuming and costly. Currently, very few technologies are available in the market for routine screening of the oral cancers. Hence, companies are trying to develop the Oral Cancer Rapid Testing Kit (OCRTK), which can detect the stage of cancer effectively in less time to perform test at home/clinic. Vigilant biosciences developed 'OncAlert Oral Cancer LAB Test', which is accurate, cost effective, and uses non-invasive technology. This technology also got the CE mark in Europe that enables this product to sell all over Europe. Various companies and universities are trying to develop the rapid detection technology for oral cancer kits to detect oral cancer
The increase in usage of tobacco, which includes smokeless tobacco, HPV-induced cancers, and consumption of alcohol are major factors that drive the growth of the market. Furthermore, increase in awareness and aging population also contribute to the prevalence the oral cancers. According to the cancer research center in U.K, globally over 3, 00,000 persons were diagnosed with oral cancer. Smoking is a major factor that is turning many men and women into victims of Oral cancer. In U.S., black males are having high incidence rate than their whiter counterparts because of cigarette smoking and heavy alcohol consumption. Lack of new diagnostic technologies in the market is a major factors that is limiting the growth of the OCRTK market.
OCRTK will have higher impact in the Oral cancer diagnosis market because currently there very few rapid test kits available in the market to diagnose the Oral cancer. Government organizations are actively funding companies that are operating in OCRTK. This highlights the importance of this domain. Factors like low cost, easy process, and instant results are expected to drive the growth of the market.
On the basis of product segmentation, OncAlert Oral Cancer LAB is expected to hold major market shares of the OCRTK market as it is the only available product in the market with clinical effectiveness. On the basis of principle, sensor-based devices will have a relatively higher share due to its highly sensitive nature and precision results.
On the basis of End User, hospitals, and diagnostic centers hold major market share comparatively than the research centers and consumers as mainly all the operations are carried out in hospitals and diagnostic centers. However, in future the end user is expected to shift their preference towards the consumer as companies are developing techniques to perform tests easily at home.
OCRTK market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. North America is expected to hold relatively high market share due to factors such as growing awareness about the disease and rise in the aging population. However, Asia Pacific region and European regions also might have good market due to increase in incidence of oral cancer.
Some key players in the market are Vigilant Biosciences, Abviris Deutschland GmbH, Insilixa, and University of Sheffield.
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On the basis of development of the OCRTK market, startups and universities are more actively working on this domain as compared to the major market players. Hence, there are possibilities of acquisitions and collaborations to take place within these companies/institutes in the near future.
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