Ovarian Cancer Diagnostic Market Size, Share, Growth Analysis, By Type(Epithelial tumours, germ cell tumours, stromal tumours), By End user(Hospital Laboratories, diagnostic centres, Research Institutes, others), By Region - Industry Forecast 2024-2031

Global Ovarian Cancer Diagnostic Market size was valued at USD 1.57 billion in 2022 and is poised to grow from USD 1.77 billion in 2023 to USD 9.67 billion by 2031, growing at a CAGR of 23.7% in the forecast period (2024-2031).

Global ovarian cancer diagnostics market is highly competitive and fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, acquisitions, co-development deals, product launches & development, collaborations and partnerships are adopted by these players to thrive in the competitive market. The most recent advancements in ovarian cancer diagnostics are desperately needed in the industry to detect cancer in its early stages and treat it without causing significant damage to the affected person's internal organs. Top ovarian cancer diagnosis instrument manufacturers are investing in research and development of devices and instruments that will aid in the diagnosis and treatment of ovarian cancer more effectively and efficiently. 'Abbott Laboratories', 'Roche', 'Quest Diagnostics', 'Siemens Healthineers', 'Thermo Fisher Scientific', 'Becton, Dickinson and Company (BD)', 'bioMérieux SA', 'Hologic, Inc.', 'Illumina, Inc.', 'Myriad Genetics, Inc.', 'F. Hoffmann-La Roche Ltd.', 'Genomic Health, Inc.', 'Agilent Technologies', 'AstraZeneca', 'Bio-Rad Laboratories, Inc.', 'GE Healthcare', 'Merck KGaA', 'NanoString Technologies', 'Oncocyte Corporation', 'PerkinElmer Inc.'

Increase in the number of elderly women is driving the ovarian cancer diagnostics market. The growing elderly female population leads to the increase in the chances of infected ovarian cancer. This increase in population has the potential to drive the ovarian cancer diagnostics market. As a result, governments launch initiatives to expand health care and treatment.

The increased understanding of certain cancer biomarkers is gaining a commercial opportunity for treating cancer patients through developed detection technology and equipment. Technological advances in the field of biotechnology have enabled the identification of potential cancer biomarkers, and some of these biomarkers have been commercialised. As a result, the development of new diagnostic biomarkers is opening up lucrative opportunities for the growth of the ovarian cancer diagnostics market.

North America accounted for more market value growth this is because of strong commercial performances of gynecologic diagnostics in the United States. Other factors contributing to the growth of the market in this region include favourable government initiatives, increase in healthcare expenditure, and presence of key manufacturers.