APAC Ovarian Cancer Diagnostics & Therapeutics Market Size Market Size

APAC Ovarian Cancer Diagnostics & Therapeutics Market Analysis

The Asia-Pacific ovarian cancer diagnostics and therapeutics market is expected to register a CAGR of 15.1% during the forecast period.

• The COVID-19 pandemic significantly impacted the market studied. A cancer diagnosis had been delayed as screening programs and diagnostic services were reduced or halted in Asia-Pacific countries due to the fear of acquiring COVID-19 infection. In February 2021, a research study published in the Journal of Ovarian Research stated that the COVID-19 pandemic imposed excessive burdens on the healthcare system, leading to treatment cancellations and delayed surgeries. In light of the pandemic condition, the management strategy for ovarian cancer patients was modified and created by the pathological type, tumor stage, and the present stage of treatment. Hence, this led to a slight decline in the market during the early phases of the pandemic. Therefore, the market was impacted negatively during the pandemic. Still, it is expected to see a surge post-pandemic. It is anticipated to reach the pre-pandemic levels by the end of 2023 due to the increased adoption of surgeries that were postponed during the pandemic phase.
• Factors such as the increasing incidence of ovarian cancer, the increasing population of aged women, and the increase in healthcare expenditure in developing countries are expected to increase market growth. For instance, According to the Government of Australia 2022, it is estimated that 1,815 new cases of ovarian cancer (including serious carcinomas of the fallopian tube) have been diagnosed in Australia in 2022. Furthermore, according to the news in February 2021, Ovarian cancer incidence in India is between 5.4 and 8 per 100,000 people. Such a huge incidence of ovarian cancers in Asian countries is expected to drive market growth due to increased adoption of diagnosis and treatment.
• The rising initiatives from the cancer institutes, such as partnerships, are anticipated to drive market growth. For Instance, In July 2021, the Cancer Institute and the Indian Institute of Technology-Madras entered into a partnership to develop a kit for the early diagnosis of ovarian cancer. The aim is to develop a cost-effective, point-of-care device that will use only a blood sample and can be deployed for outpatient diagnosis.
• With funds from the Department of Science and Technology, the institute studied 138 ovarian cancer patients, 20 patients with benign ovarian cancers, and 238 healthy patients as the control group. The study used high-end proteomics to identify proteins that were expressed differentially in the epithelial ovarian cancers that account for over 90% of all ovarian cancers. Hence, such collaborations will increase market growth in the upcoming future.
• Initiatives by the government are another factor in market growth. For instance, in August 2021, the non-profit organization Cancer Research Malaysia (CRM) showed the feasibility of mainstreaming or implementing genetic testing and genetic counseling for improved diagnosis and treatment of ovarian cancer. This makes Malaysia one of the first countries in Asia to have access to genetic testing for faulty breast cancer susceptibility (BRCA) genes responsible for the devastating disease. Hence, the abovementioned factors are expected to increase the market share.
• Therefore, factors such as the rising incidence of ovarian cancers, rising initiatives from the key market players, and increased initiatives from the government are expected to drive the market growth. However, the lack of skilled professionals in the region is likely to hinder market growth.