Factors are driving the tissue diagnostics market in the national and international market?
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Answer:
Rising incidence of cancer
Over the last few decades, there has been a significant increase in cancer incidence in major regions across the globe. According to GLOBOCAN, ~14.1 million new cancer cases and 8.2 million cancer-related deaths were recorded globally in 2012. These figures are estimated to increase to 17.1 million new cases and 10.0 million cancer-related deaths, globally, by 2020. Based on GLOBOCAN’s statistics, the International Agency for Research on Cancer (ICRA) and the World Health Organization (WHO) have estimated that by 2025, around 19.3 million new cancer cases will be diagnosed every year. This surge in the number of new cancer cases can primarily be attributed to the rising geriatric population.
The population aged 60 years and over is expected to almost double from about 12% of the total global population in 2015 to 22% by 2050; the number of people aged over 60 years will increase from 900 million to 2 billion over the same period (Source: WHO). As the elderly are more susceptible to various diseases, this demographic trend is expected to result in a significant growth in the prevalence of several chronic diseases across the globe. For instance, non-communicable diseases (heart diseases, cancer, and diabetes) account for about 87% of the disease burden in the aged population in low-, middle-, and high-income countries. Moreover, people aged over 65 years account for close to 60% of all new cancer cases and close to 70% of all cancer deaths. The American Cancer Society reported in 2015 that across the globe, there would be 13 million cancer deaths on account of the aging population. The age-adjusted cancer incidence rate is 208/100,000 for people aged below 65 years and 2,151/100,000 for people aged over 65 years, representing a ten-fold increase.