Adoption of convolutional neural network and deep learning has increased the precision and accuracy in diagnostic imaging techniques, widening the growth opportunities for market players
Adoption of convolutional neural network (CNN) and deep learning has increased the precision and accuracy in diagnostic imaging techniques, widening the growth opportunities for market players
Artificial Intelligence and machine learning incorporation in optical imaging techniques has fuelled the demand for melanoma cancer diagnostics exponentially, evaluates Fact.MR’s latest study on global melanoma cancer diagnostics. According to the study, non-invasive skin cancer diagnostic is widely preferred among patients over biopsy.
Complications such as skin infection, scarring and bleeding have curbed sole reliance on biopsy, increasing the potential for tests such as fluorescent in situ hybridization (FISH) and comparative genomic hybridization (CGH). Hence, accelerating the melanoma cancer diagnostics growth.
High accuracy and precision with lesser side-effects are some of the advantages bolstering the demand for FISH test. As per the report, FISH test segment is expected to witness steady growth through 2021 with the expansion of over US$ 300 Mn.
Researchers and healthcare professionals’ preference for FISH over CGH as they are used to detect genetic changes identification and early signs of melanoma cancer among patients, thereby boosting melanoma cancer diagnostics demand.
“Rising cases of skin cancer detected every year fuelling the demand for early detection and diagnosis among patients, which is further enabling growth of melanoma cancer diagnostics market,” says the Fact.MR analyst.
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Key Takeaways
- Fluorescent in situ hybridization (FISH) test preferred over comparative genomic hybridization (CGH) test through 2021
- US expected to be dominate the market attributed to the advanced digital techniques used in biopsy
- Melanoma cancer diagnostics sales to rise in UK due to a sudden rise in melanoma skin cancer cases through 2028
- New-Zealand expected to emerge as a lucrative market
- Increase in public campaigns for the awareness of skin cancer to accelerate the melanoma cancer diagnostic sales in Australia
- France and Germany to be one of the most lucrative market owing to the adoption of convolutional neural network in research centers
Prominent Drivers
- Adoption of Artificial Intelligence and deep learning in diagnostic devices to boost the market demand
- Increasing cases of skin cancer to drive the demand for melanoma cancer diagnostics market
Key Restraints
- High cost due to the advanced diagnostic technologies to pose a challenge for melanoma cancer diagnostic market
- Lack of precision and accuracy with potential financial implication is likely to hinder the growth
Discover more about the Melanoma Cancer Diagnostics market with 159 figures, 32 data tables and the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/57/melanoma-cancer-diagnostics-market
Competitive Landscape
Some of the prominent players identified in global melanoma cancer diagnostics by Fact.MR includes Wipro, Abbott, Foundation Medical Incorporation, Roche, Dermtech, Aruplabs, Myriad Genetic Laboratories Inc. and others.
In 2019, Myriad Genetics, a leader in molecular diagnostics and personalized medicine, announced the launch of myRisk® Hereditary Cancer test with the approval of FDA and American Society of Clinical Oncology.
Also in June 2019, The Skin Cancer Foundation, the leading nonprofit organization focused on public and professional education, launched a campaign called The Big See®. The multiyear public service campaign, which was seen nationwide, to empower people to take a proactive approach to skin cancer detection was pro-bono.
More Insights on the Melanoma Cancer Diagnostics Market
Fact.MR sheds an in-depth analysis on global Melanoma Cancer Diagnostics market. The report offers a detailed segmentation on Melanoma Cancer Diagnostics market on the basis of test (Fluorescent In Situ Hybridization Test (FISH), comparative genomic hybridization (CGH) test and immunohistochemical (ICH) test), end-user (hospitals, pathology laboratories, and cancer research centers) across seven regions.
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Source: Fact.MR