Global Cancer Diagnostics Market, By Product (Consumables, Instruments), Type (Imaging Testing, Biomarkers Testing, In Vitro Diagnostic Testing, Biopsy, Others), Application (Lung Cancer, Breast Cancer, Colorectal Cancer, Melanoma Cancer, Prostate Cancer, Liver Cancer, Others), End-User (Diagnostic Centres, Hospitals and Clinics, Research Institutes, Others) - Industry Trends and Forecast to 2030.
Cancer Diagnostics Market Analysis and Size
Cancer is one of the top causes of death globally, with a higher incidence in developed and developing markets. Technological advancements in diagnostic tests are anticipated to accelerate industry growth as healthcare professionals focus on developing effective screening and treatment solutions to check prevalence levels. Different healthcare professionals primarily focus on developing effective screening and treatment solutions to evaluate the prevalence levels. Several healthcare agencies and market players are launching different programs promoting different advanced diagnostics, thus accelerating market growth.
Data Bridge Market Research analyses the cancer diagnostics market growth rate in 2023-2030. The expected CAGR of the cancer diagnostics market is around 7.70% in the mentioned forecast period. The market was valued at USD 16.7 billion in 2022 and would grow to USD 30.23 billion by 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Cancer Diagnostics Market Scope and Segmentation
2023 to 2030
2021 (Customizable to 2015 - 2020)
Revenue in USD Million, Volumes in Units, Pricing in USD
Product (Consumables, Instruments), Type (Imaging Testing, Biomarkers Testing, In Vitro Diagnostic Testing, Biopsy, Others), Application (Lung Cancer, Breast Cancer, Colorectal Cancer, Melanoma Cancer, Prostate Cancer, Liver Cancer, Others), End-User (Diagnostic Centres, Hospitals and Clinics, Research Institutes, Others)
U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
Market Players Covered
Abbott. (U.S.), DiagnoCure Inc. (Canada), Thermo Fisher Scientific (U.S.), Illumina, Inc. (U.S.), QIAGEN (Germany), F. Hoffmann-La Roche Ltd (Switzerland), Agilent Technologies, Inc. (U.S.), Quest Diagnostics Incorporated. (U.S.), Merck KGaA, (Germany), Hologic, Inc. (U.S.), BD. (U.S.), GSK plc. (U.K.), Novartis AG (Switzerland), Bristol-Myers Squibb Company (U.S.), Lilly (U.S.), Pfizer, Inc. (U.S.), Genomic Health, Inc. (U.S.), bioMérieux SA (France), Astellas Pharma Inc. (Japan) and Myriad Genetics, Inc. (U.S.)
Cancer diagnostics is the process of identifying numerous proteins, biomarkers, and symptoms that lead to the presence of a cancerous tumor in patients. The detection of particular biomarkers and proteins that are common in cancer disorders causes the diagnosis process. Detecting cancer involves using particular techniques and devices used in its diagnosis. Imaging, laboratory tests, tumor biopsy, surgery, endoscopic examination, and genetic testing are all possible cancer diagnostic techniques.
Cancer Diagnostics Market Dynamics
- Increased Developments of Diagnostic Testing Techniques
Technological advancements in diagnostic testing are expected to boost market growth during the forecast period. For instance, Hologic, Inc. announced the commercial access of the Genius Digital Diagnostics System in Europe in 2021. The next-generation cervical cancer screening system includes deep learning-based AI and innovative volumetric imaging technology to help detect cervical cancer cells and pre-cancerous lesions in women. Thus, this is expected to boost market growth.
- Growing Strategic Collaborations Associated with Cancer Diagnostics
There is a rise in collaborations and acquisitions associated with cancer diagnostics products. For instance, the Precision Cancer Consortium (PCC) collaborated with pharmaceutical companies in 2022 by allowing access to comprehensive testing for all cancer patients worldwide. The PCC runs many initiatives to increase patient access for precision diagnostics via wide-ranging genomic testing, including NGS. Thus, this boosts the market growth
- Increasing Number of Awareness Programs by Major Organizations
An increasing number of programs to increase awareness about malignant tumor screening in numerous organizations is a major factor responsible for the increased demand for diagnostic products globally. Numerous countries have undertaken several measures to increase screening for early screening and help patients. For instance, the Indian government has initiated the Prime Minister's National Relief Fund and Ayushman Bharat for patients needing treatment assistance. Thus, this factor boosts market growth.
- Increasing Diagnostic Testing Kit Launches For Cancer
There has been an increasing number of testing kit launches that are helping in the market growth. For instance, Sysmex Corporation launched the ipsogen JAK2 DX reagent in 2020. It is a gene testing kit that measures the JAK2V617F mutation quantitatively, which is widely used for screening blood cancers. In addition, the product gained health insurance coverage, becoming Japan's first diagnostic product to be insured in 2020. Thus, this factor helps in the growth of the market.
- High Cost of Diagnostic Imaging
Many hospitals in underdeveloped and developing nations cannot invest in diagnostic imaging equipment because of high costs and budgetary constraints. However, because of the increasing demand for diagnostic imaging process in these countries, the hospitals that cannot afford to buy new and advanced imaging systems favour rebuilt ones. Thus, this factor restraints the market growth.
This cancer diagnostics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Cancer diagnostics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
- In 2022, Precipio, Inc. entered into a distribution agreement for HemeScreen with a major distribution partner in the U.S. The company continues its HemeScreen distribution expansion strategy of a multi-pronged method by targeting physician-owned laboratories, national and regional hospital networks, and reference labs.
Global Cancer Diagnostics Market Scope
The cancer diagnostics market is segmented based on product, type, application, and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Imaging Testing
- Biomarkers Testing
- In Vitro Diagnostic Testing
- Lung Cancer
- Breast Cancer
- Colorectal Cancer
- Melanoma Cancer
- Prostate Cancer
- Liver Cancer
- Diagnostic Centres
- Hospitals and Clinics
- Research Institutes
Cancer Diagnostics Market Regional Analysis/Insights
The cancer diagnostics market is analyzed and market size insights and trends are provided by product, type, application, and end-user as referenced above.
The major countries covered in the cancer diagnostics market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the market due to the growing presence of many biotechnology and medical device companies, increasing funding for research and development projects, and the high adoption of advanced technologies in this region.
Asia Pacific is projected to witness huge growth in the market because of the highest number of registered clinical trials associated with the therapies. Additionally, the substantial efforts on government investment and reforms are further estimated to boost the growth of the region's chimeric antigen receptor (CAR)-T cell therapy market in the coming years.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Cancer Diagnostics Market Share Analysis
The cancer diagnostics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related cancer diagnostics market.
Key players operating in the cancer diagnostics market include:
- Abbott. (U.S.)
- DiagnoCure Inc. (Canada)
- Thermo Fisher Scientific (U.S.)
- Illumina, Inc. (U.S.)
- QIAGEN (Germany)
- F. Hoffmann-La Roche Ltd (Switzerland)
- Agilent Technologies, Inc. (U.S.)
- Quest Diagnostics Incorporated. (U.S.)
- Merck KGaA, (Germany)
- Hologic, Inc. (U.S.)
- BD. (U.S.)
- GSK plc. (U.K.)
- Novartis AG (Switzerland)
- Bristol-Myers Squibb Company (U.S.)
- Lilly (U.S.)
- Pfizer, Inc. (U.S.)
- Genomic Health, Inc. (U.S.)
- bioMérieux SA (France)
- Astellas Pharma Inc. (Japan)
- Myriad Genetics, Inc. (U.S.)