Global Cancer Diagnostics market Size is valued at 1USD 10.25 billion in 2024 and is predicted to reach USD 204.49 billion by the year 2031 at a 6.5% CAGR during the forecast period for 2025 to 2034.
Cancer Diagnostics Market Size, Share & Trends Analysis Report By Product (Consumables (Antibodies, Probes), Instruments (Pathology Instruments, Imaging Instruments, Biopsy), Technology (IVD Testing, imaging, and biopsy technology), Application (Breast Cancer, Lung Cancer), End User (Hospitals), By Region, And Segment Forecasts, 2025 to 2034
One of the essential factors of the Cancer Diagnostics market growth throughout the anticipated period is the rise in cancer cases worldwide. Diagnostic test technological developments are also anticipated to support industry expansion. Additionally, it is projected that supportive government measures and growing awareness will contribute to growth during the forecast period. For instance, the Biden-Harris administration has established a goal to improve the understanding of people living with and surviving cancers and reduce the cancer mortality rate by 50% over the next 25 years.
The prevalence of cancer has been rising at an alarming pace, making it one of the major causes of death worldwide. Healthcare professionals are concentrating on creating efficient screening and treatment solutions to monitor prevalence levels. The success of treatment plans is increased by early screening. As a result, healthcare organizations and industry participants are pushing regular checkups and screenings through various awareness campaigns. For instance, the HHS announced financing of USD 5 million in March 2022 to enhance equity in cancer screening at health centers.
The Cancer Diagnostics market is segmented by product, technology, application, and end-user. Based on product, the market is segregated into consumables, instruments, imaging instruments, and biopsy instruments. By the technology, the market is segmented into IVD Testing, imaging, and biopsy technology. By application, the market is segmented as breast cancer, lung cancer, colorectal cancer, melanoma, and others. By end user, the market is further segmented into hospitals and diagnostics laboratories.
The consumables section held the largest share, and it is projected that it will remain in this position for the duration of the forecast. The segment is developing as a result of rising consumable usage, rising R&D costs, an increase in the number of elderly people, and the introduction of technologically sophisticated diagnostic kits and reagents.
Due to reasons like the growing use of in-vitro diagnostics, IVD testing held the greatest proportion. The market is extending as a result of an increasing number of in vitro diagnostics products being introduced by key industry participants. For instance, Invitae introduced LiquidPlex Dx and FusionPlex Dx in Europe in February 2022. In Europe, patients will have easier access to cancer diagnostics thanks to the product launch. In addition, the completely automated Idylla GeneFusion Panel for non-small cell lung cancer was introduced by Biocartis Group NV in June 2022. Unlike more current testing procedures, which typically require days or even weeks to get findings, the panel is intended for use in clinical laboratories and delivers comprehensive test results in 180 minutes.
The largest portion was held by North America. The market in this area is being driven by significant companies engaging in more strategic actions. For instance, Resolution Bioscience Inc. was purchased by Agilent in March 2021. The company's capabilities in NGS-based cancer diagnostics are expanded and complemented by the acquisition, which also equips the business with cutting-edge technology to meet the demands of the expanding precision medicine market.
| Report Attribute | Specifications |
| Market size value in 2024 | USD 110.25 Bn |
| Revenue forecast in 2034 | USD 204.49 Bn |
| Growth rate CAGR | CAGR of 6.5% from 2025 to 2034 |
| Quantitative units | Representation of revenue in US$ Billion, and CAGR from 2025 to 2034 |
| Historic Year | 2021 to 2024 |
| Forecast Year | 2025-2034 |
| Report coverage | The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
| Segments covered | Product, Technology, Application, And End-User |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S.; Canada; U.K.; Germany; China; Japan; Brazil; Mexico; France; Italy; Spain; China; India; South Korea; Southeast Asia |
| Competitive Landscape | GE Healthcare, Abbott Laboratories, Hologic Inc., Agilent Technologies Inc., Roche Diagnostics, FUJIFILM Corporation, Danaher Corporation, DiaSorin S.P.A., Myriad Genetics Inc., Siemens AG, BD, Cancer Diagnostics Inc., AMOY Diagnostics Co Ltd., Quidel Corporation, BiocartisNV, Excat Science. |
| Customization scope | Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
| Pricing and available payment methods | Explore pricing alternatives that are customized to your particular study requirements. |
Cancer Diagnostics Market By Product-
Cancer Diagnostics Market By Technology-
Cancer Diagnostics Market By Application-
Cancer Diagnostics Market By End User-
Cancer Diagnostics Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
This study employed a multi-step, mixed-method research approach that integrates:
This approach ensures a balanced and validated understanding of both macro- and micro-level market factors influencing the market.
Secondary research for this study involved the collection, review, and analysis of publicly available and paid data sources to build the initial fact base, understand historical market behaviour, identify data gaps, and refine the hypotheses for primary research.
Secondary data for the market study was gathered from multiple credible sources, including:
These sources were used to compile historical data, market volumes/prices, industry trends, technological developments, and competitive insights.
Primary research was conducted to validate secondary data, understand real-time market dynamics, capture price points and adoption trends, and verify the assumptions used in the market modelling.
Primary interviews for this study involved:
Interviews were conducted via:
Primary insights were incorporated into demand modelling, pricing analysis, technology evaluation, and market share estimation.
All collected data were processed and normalized to ensure consistency and comparability across regions and time frames.
The data validation process included:
This ensured that the dataset used for modelling was clean, robust, and reliable.
The bottom-up approach involved aggregating segment-level data, such as:
This method was primarily used when detailed micro-level market data were available.
The top-down approach used macro-level indicators:
This approach was used for segments where granular data were limited or inconsistent.
To ensure accuracy, a triangulated hybrid model was used. This included:
This multi-angle validation yielded the final market size.
Market forecasts were developed using a combination of time-series modelling, adoption curve analysis, and driver-based forecasting tools.
Given inherent uncertainties, three scenarios were constructed:
Sensitivity testing was conducted on key variables, including pricing, demand elasticity, and regional adoption.