The Asia-Pacific ovarian cancer diagnostics and therapeutics market is projected to register a CAGR of 12.4% during the forecast period, 2018 to 2023. China is expected to dominate the market for ovarian cancer diagnostics and therapeutics due to the increasing incidence of ovarian cancer.
Increasing Incidence of Ovarian Cancer
According to the World Health Organization (WHO), more than 6 million new cancer cases are diagnosed in Asia every year. Cancer is the leading cause of death and the incidence rates are increasing annually. Due to this, the demand for quality cancer treatments has risen dramatically, which is contributing to the growth of the market. According to Hong Kong Department of Health, ovarian cancer is the sixth most common cancer among women in Hong Kong and in 2014, 563 new cases were diagnosed, and this incidence is expected to rise in the coming years. Thus, the rise in ovarian cancer is driving the growth of the Asia-Pacific ovarian cancer diagnostics and therapeutics market.
Additionally, greater use of combination therapies for the treatment of ovarian cancer, increasing population of aged women, and increase in healthcare expenditure in developing countries are fuelling the growth of the Asia-Pacific ovarian cancer diagnostics and therapeutics market.
Lack of Accurate Diagnosis of Ovarian Cancer
Accurate diagnosis of ovarian cancer is critical, as in most cases, the cancer already begins to spread to the lymph nodes and outside the pelvis at the time of diagnosis. Ovariancancerawareness.org reports that the five-year survival rate for ovarian cancer with early stage 1 detection is 93% and that most new cases of ovarian cancer are diagnosed at stage 3 or later, leaving little time as well as room for an accurate diagnosis. Lack of early detection and accurate diagnosis is often due to the fact that ovarian cancer symptoms are frequently overlooked, and easily confused with other conditions. This is hindering the growth of the Asia-Pacific ovarian cancer diagnostics and therapeutics market. Additionally, patent expiry of key drugs is also restraining the growth of the Asia-Pacific market.
China to Dominate the Market
China is dominating the market due to increasing incidence of ovarian cancer. It was estimated that 4.29 million new incident cases and 2.81 million death cases of cancer would occur in 2015 in China. The estimated incidence of ovarian cancer is increasing among Chinese women: it has increased by 30% in the last 10 years and the mortality rate has increased by 18%, with 15,000 deaths each year.
Key Developments in the Market
- May 2017 - A new drug developed for ovarian cancer ONX-0801 is in Phase1.
The major players include - Bristol Myers Squibb Company, Eli Lilly and Company, Glaxosmithkline Plc, Janssen Pharmaceuticals, Inc., Genentech Inc., Astra Zeneca Boehringer Ingelheim and F. Hoffman-La Roche Ltd, among others.
Reasons to Purchase the Report
- Market analysis for the Asia-Pacific ovarian cancer diagnostics and therapeutics market, with region-specific assessments and competition analysis on a global and regional scale
- Analyzing various perspectives of the industry with the help of Porter’s five forces analysis
- The treatment type that is expected to dominate the market
- Regions that are expected to witness fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3 month analyst support, along with the Market Estimate sheet (in Excel)
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