Brain Cancer Diagnostics Market Share and Forecast by 2028

The brain cancer diagnostics market is projected to reach US$ 7,378.57 Million by 2028 from US$ 1,639.10 Million in 2022; it is estimated to grow at a CAGR of 28.5% from 2022 to 2028.

Brain cancers are caused due to extracellular growth of the cells in the brain that causes tumors. The tumor includes primary brain tumors and secondary brain tumors. Primary brain tumors are formed in the brain and do not spread to other body parts, whereas secondary tumors, also known as metastases, are those cancers that began in another part of the body. Brain tumors are categorized into 40 major types that are further classified into two major groups, including benign, i.e., slow-growing and have less possibility to spread, and malignant, i.e., cancerous, and more likely to spread.

The brain cancer diagnostics market is segmented into diagnostic type, cancer type, end user, tumor size, and geography. The market , by geography, is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South and Central America. The report offers in-depth insights into the market, emphasizing parameters such as market trends, technological advancements, and market dynamics, along with an analysis of the competitive landscape of leading market players.        

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Brain Cancer Diagnostics Market: Strategic Insights

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Market Insights

Rising Incidences of Brain Tumors Contributes Significantly to Market Growth

According to the American Society of Clinical Oncology (ASCO), in 2021, around 24,530 adults (13,840 men and 10,690 women) were diagnosed with primary cancerous tumors of the brain and spinal cord in the US. In a person's lifetime, the chances of having this form of tumor are fewer than 1%. Most primary central nervous system (CNS) malignancies are brain tumors, which account for 85% to 90% of all cases. Brain tumors can be fatal, severely impact the quality of life, and ultimately transform a patient's and their family's lives.

Similarly, Cancer Research UK estimated that around 12,288 new cases of brain, other CNS, and intracranial tumors are diagnosed in the UK each year, which makes it around 34 cases per day (2016–2018). Brain tumors, other central nervous systems, and intracranial tumors are the ninth most common malignancies in the UK, accounting for 3% of all new cancer cases (2016–2018). Also, it is the 7th most common cancer in females in the UK, with around 6,400 new cases during 2016–2018. Similarly, in males, brain, other CNS, and intracranial tumors are the 11th most common cancer, with about 5,800 new cases in the UK during 2016–2018. Incidence rates for brain tumors are highest in people aged 85 to 89 (2016-2018) in the UK.

According to the American Association of Neurological Surgeons, glioblastoma is the most common malignant brain and other CNS tumor, accounting for 47.7% of all cases; the incidence of glioblastoma is 3.21 per 100,000 people. According to Cancer Australia, around 1,879 new cases of brain cancer were diagnosed in Australia in 2020.

Early detection of tumors often provides more treatment options. Advanced imaging technology can pinpoint the location of brain tumors. Intraoperative MRI can also guide tissue biopsy and tumor resection during surgery. Magnetic resonance spectroscopy (MRS) is used to examine the chemical characteristics of tumors. Thus, the increase in the prevalence of brain cancer worldwide highly demands brain cancer diagnostic tools.

Diagnostic Type-Based Insights

Based on diagnostic type, the brain cancer diagnostics market is segmented into imaging test, lumbar puncture, biopsy, molecular testing, platform and services, cerebral arteriogram, neurological and hearing tests/neurocognitive assessments, electroencephalography (EEG), and others. Furthermore, the imaging test segment is sub-segmented into MRI, CT Scan, PET, and others. Similarly, the platform and services segment is sub-segmented into sample slide, autosampler unit, solutions and platform, and services. In 2022, the imaging test segment is likely to account for the largest share of the market. However, the platform and services segment is anticipated to register the highest CAGR in the brain cancer diagnostics market  during the forecast period of 2022 to 2028.

Cancer Type-Based Insights

The global brain cancer diagnostics market , based on cancer type, is segmented into acoustic neuroma, astrocytomas, craniopharyngiomas, ganglioneuromas, glioblastoma multiforme, meningiomas, ependymomas, oligodendroglioma, low-grade tumors, and other brain cancer types. In 2022, the glioblastoma multiforme segment is likely to hold the largest share of the market. Moreover, the same segment is expected to witness growth in its demand at the fastest CAGR from 2022 to 2028, owing to the rise in the incidence of glioblastoma multiforme globally.

Tumor Size-Based Insights

The global brain cancer diagnostics market , based on tumor size, is segmented into 0.2 cm3 to 100 cm3, 101 cm3 to 200 cm3, and above 200 cm3. In 2022, the 0.2 cm3 to 100 cm3 segment is likely to hold the largest share of the market. Moreover, the 0.2 cm3 to 100 cm3 segment is expected to witness growth in its demand at the fastest CAGR from 2022 to 2028, owing to the rise in the detection and diagnosis of various medical conditions globally.

End User-Based Insights

Based on end user, the brain cancer diagnostics market is segmented into hospitals, specialty clinics, ambulatory surgical centers, diagnostic centers & research institutes, and others. In 2022, the hospitals segment is likely to hold the largest share of the market. Moreover, the specialty clinics segment is expected to witness growth in its demand at the fastest CAGR of 29.4% from 2022 to 2028, owing to the adoption of advanced technologies for brain cancer diagnosis by hospitals globally.

Product launches, mergers and acquisitions are highly adopted strategies by the global brain cancer diagnostics market players. A few of the recent key market developments are listed below: 

In September 2021, BioReference Laboratories, Inc., an OPKO Health company, along with its specialty oncology division, GenPath, announced the launch of OnkoSight AdvancedTM, a next-generation sequencing (NGS) assay that enables revolutionary deoxyribonucleic acid (DNA) mutational profiling of tumor samples.

Geography-Based Insights

The global brain cancer diagnostics market , by geography, is broadly segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Spain, Italy, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and the Rest of APAC), the Middle East & Africa (Saudi Arabia, the UAE, South Africa, and the Rest of MEA), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

Brain Cancer Diagnostics Market Regional Insights

The regional trends and factors influencing the Brain Cancer Diagnostics Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Brain Cancer Diagnostics Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Brain Cancer Diagnostics Market Report Scope

Brain Cancer Diagnostics Market Players Density: Understanding Its Impact on Business Dynamics

The Brain Cancer Diagnostics Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Brain Cancer Diagnostics Market are:

1. THERMO FISHER SCIENTIFIC INC
2. Siemens Healthineers AG
3. GE Healthcare
4. MDxHealth
5. NantOmics

Disclaimer: The companies listed above are not ranked in any particular order.

Company -Based Insights

THERMO FISHER SCIENTIFIC INC; Siemens Healthineers AG; GE Healthcare; MDxHealth; NantOmics; Biocept, Inc.; Koninklijke Philips N.V.; Canon Medical Systems; Hitachi, Ltd.; Neusoft Medical Systems; KITZ HEIDELBERG; GENPATH; NVIDIA CORPORATION; ONCORA MEDICAL; BIOMIND; SOPHIA AND ONCODNA; Clinspec Diagnostics; Raindance Technologies, Inc; ROCHE DIAGNOSTICS; and Illumina, Inc are among the leading companies operating in the brain cancer diagnostics market