CANCER TREATMENT AND DIAGNOSTICS MARKET TO CROSS $25 BILLION
IN 2003
Cancer is a
disease that is likely to affect most Americans in their lifetime. In the
U.S. men have a 1 in 2 chance and women a 1 in 3 chance of developing
cancer (or dying from it) in their lifetime. Furthermore, cancer is a
disease of ageing and the over 50 population in the U.S. is growing
tremendously. With this in mind, it is easy to see why cancer diagnostic
and treatment products and technologies represent billion dollar
industries. A number of important technological advances, such as the
heightened impact of molecular biology, have affected these industries.
According to a soon-to-be-released BUSINESS
COMMUNICATIONS CO., INC. study RC- 047U Cancer Treatment
and Diagnostic Products, the value of cancer diagnostic and
treatment products is estimated at $14.62 billion, $15.97 billion and
$17.49 billion in 1996, 1997 and 1998 respectively. BCC forecasts that by
2003 the value will increase to $25.04 billion, representing an AAGR of
7.4%, over the period 1998-2003.
The total value for cancer treatment was around
$9.32 billion in 1998. This segment is forecasted to reach $15.35 billion
in 2003, representing an AAGR of 10.5%. The cancer treatment segment
consists of surgical and radiation therapy products as well as
pharmaceuticals.
BCC predicts that the fastest growing segments of
this market will be brachytherapy radioisotopes; radiopharmaceuticals;
biological drugs (especially monoclonal antibody-based products); and
hormone, anti-hormone and anti-tubule chemical drugs.
The value for cancer diagnostics stood at $8.16
billion in 1998 and is expected to be $9.69 billion in 2003, representing
an AAGR of 3.5%. The cancer diagnostics sector consists of imaging
devices, imaging and detection reagents and laboratory tests (including
biopsies and in- vitro tests).
BCC predicts that the fastest growing sectors of
this market will be contrast media for ultrasound and MRI, and in-vitro
diagnostic tests.
CANCER TREATMENT AND DIAGNOSTICS INDUSTRY
MARKET
($ Millions)
| |
1998 |
2003 |
AAGR %
1998- 2003 |
| Treatment |
9,323 |
15,353 |
10.5 |
| Diagnosis |
8,163 |
9,689 |
3.5 |
| Total |
17,486 |
25,042 |
7.4 |
*Note: All calculations in the table are based on product sales except for
the value of laboratory tests in the Diagnosis section. The Laboratory
Test subsection includes both in-vitro tests as well as the total cost
(including labor and reagents) to perform tissue biopsies, since they are
surgical procedures.
Source: Business Communications Company,
Inc.
RC-047U Cancer Treatment and
Diagnostic Products
PUBLISHED: February 1999
Data and analysis provided courtesy of
BUSINESS COMMUNICATIONS COMPANY, INC., 25 Van Zant Street, Norwalk, CT
06855, Telephone: (203) 853-4266; ext. 309, Email: publisher@bccresearch.com |
