Ovarian Cancer Diagnostics and Therapeutics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Ovarian Cancer Diagnostics and Therapeutics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Ovarian Cancer Diagnostics and Therapeutics Market is projected to register a CAGR of 9.5% during the forecast period (2022-2027).

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 titled "Impact of the COVID-19 Pandemic on Cancer Care: A Global Collaborative Study" published in September 2020 reported that a total of 356 centers from 54 countries across six continents participated between April 21 and May 8, 2020. These centers serve 716,979 new patients with cancer a 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%). Thus, the COVID-19 pandemic was expected to impact the growth of the market during the forecast period.

The factors such as increasing ovarian cancer cases across the global population are expected to drive the growth of the market owing to the increasing demand for effective diagnosis and therapeutics. For instance, the data published by the American Cancer Society in January 2022 mentioned that ovarian cancer is the seventh most common cancer among women And 4.4% of entire cancer-related mortality among women was 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 article titled "Survival rates for Ovarian Cancer" 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. 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 the growth of growth.

Key Market TrendsCT Scan Segment is Expected to Show Better Growth Over the Forecast Period

Computed Tomography (CT) is an imaging procedure that uses special X-ray equipment to create detailed pictures, or scans, of areas inside the body. It is also called computerized tomography and computerized axial tomography (CAT). This equipment does not show small ovarian tumors well, but helps to see larger tumors and may be able to see if the tumor is growing into nearby structures. It also helps to find enlarged lymph nodes, signs of cancer spreading to the liver or other organs, or signs that an ovarian tumor is affecting the kidneys or bladder. The rising demand for effective diagnosis is expected to drive the growth of the studied segment.

The increased sensitivity offered by these diagnostics is one of the major factors driving the growth of this segment. For instance, in September 2021, the article titled "Preoperative CT or Pet/CT to assess pelvic and Para-aortic Lymph Node Status in epithelial ovarian cancer? A systemic review and Meta-analysis" mentioned that the overall sensitivity of CT scan in detecting the disease was 60.1% whereas specificity was 93.7%. Furthermore, the rising burden of ovarian cancer and technological advancements is expected to fuel the market growth over the forecast period.

Additionally, the approval from regulatory authorities also boosts the growth of the market. For instance, in September 2021, the United States Food and Drug Administration granted clearance for Siemens NAEOTOM Alpha to Siemens Medical Solutions Inc. It is a technologically advanced computed tomography device designed to transform the information from X-ray photons that pass through a patient's body, and are received by a detector, into a detailed 3-dimensional image.

Thus the above-mentioned factors are expected to drive the growth of the studied segment during the forecast period.

North America is Expected to Retain Large Market Share Over the Forecast Period

Among the North American region, the United States holds the highest share in the ovarian cancer diagnostics and therapeutics market and has contributed majorly to the same. According to the American Cancer Society (ACS) report in January 2022, ovarian cancer is the ninth most common cancer and the fifth leading cause of cancer death among women in the United States.

According to American Cancer Society (ACS) estimates, in 2022, the estimated deaths due to ovarian cancer were 12,810 in the United States. Similarly, the American Cancer Society (ACS) estimates ovarian cancer in the United States in 2022 about 19,880 women will receive a new diagnosis of ovarian cancer and a woman's risk of getting ovarian cancer during her lifetime is about 1 in 78. Furthermore, most of the top global ovarian cancer diagnostics players are headquartered in the United States and this tends to be the major advantage for the region, which is expected to drive the market.

Additionally, the increasing approvals for various advanced diagnostics and therapeutics are expected to drive the growth of the market in the forecast period. For instance, in November 2021, the United States Food and Drug Administration (USFDA) approved an imaging drug known as Cytalux(pafolcianine), which is attracted to ovarian cancer tissue and illuminates it when exposed to fluorescent light, allowing surgeons to more easily and more precisely remove cancer.

Thus the above-mentioned factors are expected to drive the growth of the studied segment during the forecast period.

Competitive Landscape

The ovarian cancer diagnostics and therapeutics market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. Key players in the market include AstraZeneca, Boehringer Ingelheim, Bristol Myers Squibb Company, Eli Lilly and Company, F. Hoffman-La Roche Ltd, GlaxoSmithKline Plc, Johnson and Johnson,Amneal Pharmaceuticals, and Siemens Healthineers AG among others.

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