Market Size of Ovarian Cancer Diagnostics and Therapeutics Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 9.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Ovarian Cancer Diagnostics & Therapeutics Market Analysis
The ovarian cancer diagnostics and therapeutics market is projected to register a CAGR of 9.5% during the forecast period.
The COVID-19 pandemic affected healthcare systems globally and resulted in the interruption of usual care in many healthcare facilities, exposing vulnerable patients with cancer to significant risks. A study from ESMO Journal published in May 2021 conducted a survey in which a total of 356 centers from 54 countries across six continents participated. These centers serve 716,979 new patients with cancer every year. Most of them (88.2%) reported facing challenges in delivering care during the pandemic. Although 55.34% reduced services as part of a preemptive strategy, other common reasons included an overwhelmed system (19.94%), lack of personal protective equipment (19.10%), staff shortage (17.98%), and restricted access to medications (9.83%). Hence, the data suggest that the pandemic impacted cancer care across the world severely. However, currently, the market has reached its pre-pandemic nature in terms of demand for diagnostics and therapeutics, and it is expected to witness strong growth in the coming years.
Factors such as increasing ovarian cancer cases across the world and the use of combination therapies for the treatment of ovarian cancer are expected to drive the growth of the market.
The data published by the American Cancer Society in January 2022 mentioned that ovarian cancer was the seventh most common cancer among women globally, and 4.4% of entire cancer-related mortality among women is attributed to ovarian cancer. Thus, the increasing number of cases of ovarian cancer among the population is driving the growth of the ovarian cancer diagnostics and therapeutics market.
Similarly, in March 2022, the American Cancer Society reported that the five-year survival rate for ovarian cancer with early-stage 1 detection is around 93% and that most new cases of ovarian cancer are diagnosed at stage 3 or later, leaving little time and scope for proper treatment. However, with the increasing burden of cancer globally, people in developed countries are becoming more concerned about the disease, which is increasing the diagnosis volume and contributing to market growth. Additionally, the innovative launches by the market players are expected to drive the growth of the market. For instance, in May 2022, Inex Innovate launched the Ovarian Cancer detection test, OvaCis Rapid test, in the Southeast Asian markets.
Thus, the above-mentioned factors are expected to drive the growth of the market during the forecast period. However, the lack of awareness in emerging and low-income countries is expected to limit growth.
