Adrenal Cancer Diagnostics Global Market Report 2024

The adrenal cancer diagnostics market size has grown strongly in recent years. It will grow from $130.84 billion in 2023 to $140.35 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth observed in the historical period can be ascribed to an elevated incidence and awareness of the condition, advancements in genetic and molecular testing, improvements in biopsy techniques, enhanced endocrine testing, and the integration of artificial intelligence (AI).

The adrenal cancer diagnostics market size is expected to see strong growth in the next few years. It will grow to $180.09 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The anticipated growth in the forecast period can be attributed to the adoption of personalized medicine approaches, an increase in minimally invasive procedures, the integration of telemedicine and remote consultations, the development of liquid biopsy techniques, and the expansion of genetic counseling services. Key trends expected in the forecast period include regulatory support for diagnostic innovations, the adoption of digital pathology, advancements in imaging technologies, ongoing progress in liquid biopsy development, and the application of genomic profiling for precision medicine.

The anticipated rise in cigarette smoking is poised to drive the growth of the adrenal cancer diagnostics market. Cigarette smoking involves inhaling and exhaling fumes from burning tobacco containing nicotine, an addictive alkaloid with psychoactive effects. Adrenal cancer, including adenomas and adrenocortical carcinomas, has been linked to increased risks associated with cigarette smoking. The carcinogens in tobacco smoke can lead to DNA damage in adrenal cells, resulting in mutations that may cause cancer. Notably, Statistics Canada reported a 5.8% increase in cigarette production in July 2022 compared to June 2021, with the total number of cigarettes sold reaching 1.4 billion in June 2022. Thus, the growing prevalence of cigarette smoking is a key driver for the adrenal cancer diagnostics market.

Government initiatives supporting cancer are expected to propel the growth of the adrenal cancer diagnostics market. These initiatives involve significant actions taken by governments to address challenges, improve diagnostic services' quality and accessibility, and support research for effective adrenal cancer diagnostics. In April 2023, the Biden-Harris administration, as per the National Institutes of Health (NIH), established an initiative to reduce cancer-related deaths by 50% within 25 years while enhancing support for individuals enduring and surviving cancer. Government initiatives contribute significantly to driving the growth of the adrenal cancer diagnostics market.

A substantial obstacle to the adrenal cancer diagnostics market is the high cost of diagnostic imaging systems. The expense associated with these systems and procedures poses challenges in terms of access to timely and accurate diagnoses, potentially leading to delayed treatment and financial burdens for patients. According to the American College of Physicians, surplus imaging costs the healthcare system between $200-$250 billion annually. Therefore, the considerable cost linked to diagnostic imaging systems represents a significant constraint for the adrenal cancer diagnostics market.

Major companies in the adrenal cancer diagnostics market are enhancing profitability by developing innovative products incorporating advanced technologies such as the High-V MRI platform and DryCool technology. The High-V MRI platform integrates digitalization with a new field strength of 0.55T, ensuring exceptional diagnostic quality for routine and new clinical applications. Meanwhile, DryCool technology is a virtually helium-free scanner utilizing a closed-loop cooling system to cool the magnet. Siemens Healthcare GmbH introduced the Magnetom Free.Star1 MRI scanner in November 2021 for adrenal cancer diagnostics. This cost-effective and user-friendly scanner, based on Siemens Healthineers' High-V MRI platform and DryCool technology, is expected to facilitate earlier and more accurate diagnoses, improving patient outcomes across various medical conditions.

In May 2021, Exact Sciences Corp., a US-based molecular diagnostics company, acquired Thrive Earlier Detection Corp. for $2.15 billion. This strategic move by Exact Sciences aims to expand its presence in the early cancer detection market, strengthen its competitive position, and accelerate the development and commercialization of THX-251. Thrive Earlier Detection Corp., a US-based biotechnology company, specializes in products related to adrenal cancer diagnostics.

Major companies operating in the adrenal cancer diagnostics market report are Johnson And Johnson Pvt Ltd., F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific, GSK plc, AstraZeneca plc, Abbott Laboratories, Siemens Healthcare GmbH, Becton Dickinson and Company, Koninklijke Philips N.V., GE HealthCare Technologies Inc., Agilent Technologies, Hologic Inc., PerkinElmer Inc., Illumina Inc., Roche Diagnostics, BioMerieux SA, Sysmex Corporation, Bio-Rad Laboratories Inc., Bruker Corporation, Exact Sciences Corp., Natera Inc., Invitae Corporation, Qiagen NV, Guardant Health Inc., Foundation Medicine Inc., NanoString Technologies Inc., TRS Technologies Inc., Morgan Advanced Materials, APC International Ltd., Annon Piezo Technology Co. Limited.

North America was the largest region in the adrenal cancer diagnostics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the adrenal cancer diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the adrenal cancer diagnostics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The adrenal cancer diagnostics market consists of revenues earned by entities by providing genetic testing, histopathology, blood tests, and dexamethasone suppression tests. The market value includes the value of related goods sold by the service provider or included within the service offering. The adrenal cancer diagnostics market also includes sales of ultrasound machines, reagents and test kits, microscopes, histology kits, and microtomes. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The primary diagnostic tests for adrenal cancer include magnetic resonance imaging (MRI), computed tomography (CT) scans, X-rays, positron emission tomography (PET) scans, and biopsies. Magnetic resonance imaging (MRI) is a medical imaging technique that utilizes strong magnetic fields and radio waves to generate detailed and high-resolution images of the body's internal structures. Treatment modalities encompass surgery, chemotherapy, radiotherapy, targeted cancer therapies, and others tailored for pheochromocytoma, adrenal cortical carcinoma, and various tumor types. These treatments are administered by diverse end-users such as hospitals, ambulatory surgical centers, cancer centers, and others.

The adrenal cancer diagnostics market research report is one of a series of new reports that provides adrenal cancer diagnostics market statistics, including adrenal cancer diagnostics industry global market size, regional shares, competitors with an adrenal cancer diagnostics market share, detailed adrenal cancer diagnostics market segments, market trends and opportunities, and any further data you may need to thrive in the adrenal cancer diagnostics industry. This adrenal cancer diagnostics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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