Global Tumor Tracking Systems Market 2023-2030

Global Tumor Tracking Systems Market 2023-2030

Global Tumor Tracking Systems Market Size, Share & Trends Analysis Report by Application (Prostate Cancer, Gastric Cancer, Lung Cancer, Breast Cancer, and Others), and by End User (Hospitals, Radiotherapy Centers, Cancer Research Institutes, and Others), Forecast Period (2023-2030)

The global tumor tracking systems market is anticipated to grow at a CAGR of 4.9% during the forecast period (2023–2030). The growth of the market is attributed to the growing development of digital pathology. Modern healthcare is incorporating more digital pathology technologies, such as sophisticated staining platforms such as Benchmark Ultra Plus. They enhance the overall diagnostic process by enabling remote cooperation, data storage, and analysis. For instance, in June 2022, Roche launched the BenchMark Ultra Plus system, its newest innovative tissue staining platform. Pathologists can deliver high-quality, time-sensitive results to doctors and patients owing to features that maximize workflow, test efficiency, and environmental sustainability.

Segmental Outlook

The global tumor tracking systems market is segmented by application and end-user. Based on the application, the market is sub-segmented into prostate cancer, gastric cancer, lung cancer, breast cancer, and others. Furthermore, based on the end-user, the market is sub-segmented into hospitals, radiotherapy centers, cancer research institutes, and others. Among the end-users, the cancer research institutes sub-segment is anticipated to hold a considerable share of the market owing to a rise in cancer awareness and research.

The Breast Cancer Sub-Segment is Anticipated to Hold a Considerable Share of the Global Tumor Tracking Systems Market

Among the applications, the breast cancer sub-segment is expected to hold a considerable share of the global tumor tracking systems market. The segmental growth is attributed to the growing use of advanced treatment technologies aimed at improving patient outcomes and quality of life. Similarly, the increasing prevalence of breast cancer and the focus on personalized and targeted therapies drive the demand for innovative solutions such as the Radixact System's capabilities for breast cancer treatment.

For instance, in August 2023, Accuray Incorporated launched the VitalHold breast package for the Radixact System. The package has already received a grant 510(k) approval by the US Food and Drug Administration (FDA). The Radixact System's fixed beam angle delivery mode (TomoDirect) and a fully integrated and automated surface-guided radiation therapy (SGRT) solution, utilizing the Catalyst+ HD system from C-RAD, and facilitating deep inspiration breath hold (DIBH) treatments with VitalHold. The Radixact System offers a complete toolkit for the treatment of breast cancer with the addition of these new capabilities. Subject to regulatory clearance or authorization, customers in the US, the European Union, and other locations are eligible to have an access of VitalHold technology.

Regional Outlook

The global tumor tracking systems market is further segmented based on geography, including North America (the US and Canada), Europe (the UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and the Rest of Asia), and the Rest of the World (the Middle East and Africa, and Latin America). Among these, Asia-Pacific is anticipated to hold a prominent share of the market across the globe. This market expansion is owing to the rising number of cases of cancer across the region. Additionally, the region lacks the awareness regarding cancer treatment due to low literacy rate and medical facilities compared to other regions.

The North America Region is Expected to Grow at a Significant CAGR in the Global Tumor Tracking Systems Market

Among all regions, the North American region is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to a rise in cancer cases. According to the American Cancer Society report published in January 2023, Prostate cancer is expected to be the most prevalent disease in American men, with an estimated 288,300 new cases of prostate cancer diagnosed in the country. It is also predicted that such a rise in cancer prevalence can boost the need for cancer treatment, ultimately driving the expansion of the industry in the region.

Additionally, in November 2022, Canadian Cancer Society estimated that over 233,900 people were diagnosed with cancer in 2022. In Canada, 21,100 men and 112,800 women were suffering with cancer. The most commonly diagnosed types of cancer in Canada are lung, breast, colorectal, and prostate cancer, which together account for 46% of all new cancer cases. Prostate cancer accounts for 20% of all new cancer cases in men, while lung cancer accounts for 13%. Apart from this, the breast cancer accounts for 25% of all new cancer cases in women, and colorectal cancer accounts for 10%.

Market Players Outlook

The major companies serving the Tumor Tracking Systems market include Cell Biolabs, Inc., HTG Molecular Diagnostics, Inc., Menarini Silicon Biosystems SpA, NanoString Technologies, Inc., NeoGenomics Laboratories, Inc., and others. The market players are considerably contributing to market growth through the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in October 2021, C-RAD AB partnered with Accuray Incorporated to boost the breast cancer treatment efficacy of the Accuray Radixact System. The C-RAD Catalyst+ HD and Radixact Systems can be used collaboratively by businesses to offer consumers a DIBH solution. The segment is anticipated to grow as a result of the activities completed.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global tumor tracking systems market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.