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Cancer Diagnostics Market

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, 2024-2031

Report ID : 1726 | Published : 2024-06-13 | Pages: 180 | Format:

The global Cancer Diagnostics market Size is valued at 105.0 billion in 2023 and is predicted to reach 170.54 billion by the year 2031 at a 6.29% CAGR during the forecast period for 2024-2031.

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. 

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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. 

Recent Developments:

  • In November 2021, Magnetom Free was introduced by Siemens Healthineers. The Star whole-body MRI scanner was created to dramatically improve access to magnetic resonance imaging on a global scale. 

Competitive Landscape:

of the major key players in the Cancer Diagnostics market are:

 

  • Abbott Laboratories,
  • Agilent Technologies Inc.,
  • AMOY Diagnostics Co Ltd.,
  • Astellas Pharma Inc. (Japan)
  • BD
  • BiocartisNV,
  • bioMérieux SA (France)
  • Bristol-Myers Squibb Company (U.S.)
  • Cancer Diagnostics Inc.,
  • Danaher Corporation,
  • DiagnoCure Inc. (Canada)
  • DiaSorin S.P.A.,
  • Excat Science
  • Hoffmann-La Roche Ltd.
  • FUJIFILM Corporation,
  • GE Healthcare
  • Genomic Health, Inc. (U.S.)
  • GSK plc. (U.K.)
  • Hologic, Inc.
  • Illumina, Inc.
  • Koninklijke Philips N.V. (Philips)
  • Lilly (U.S.)
  • Merck KGaA, (Germany)
  • Myriad Genetics Inc.,
  • Novartis AG (Switzerland)
  • Pfizer, Inc. (U.S.)
  • Qiagen N.V.
  • Quest Diagnostics Incorporated. (U.S.)
  • Quidel Corporation,
  • Roche Diagnostics,
  • Siemens Healthcare GmbH
  • Thermo Fisher Scientific, Inc. 

Market Segmentation:

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.

Based On Product, The Consumables Segment Is A Major Contributor To The Cancer Diagnostics Market

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.

IVD Testing Segment Witnessed Growth At A Rapid Rate

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 North America Cancer Diagnostics Market Holds A Significant Revenue Share In The Region

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.

Cancer Diagnostics Market Report Scope:

Report Attribute

Specifications

Market size value in 2023

USD 105 Bn

Revenue forecast in 2031

USD 170.54 Bn

Growth rate CAGR

CAGR of 6.29% from 2024 to 2031

Quantitative units

Representation of revenue in US$ Billion, and CAGR from 2024 to 2031

Historic Year

2019 to 2023

Forecast Year

2024-2031

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; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; 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

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Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Cancer Diagnostics Market Snapshot

Chapter 4. Global Cancer Diagnostics Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: by Product Estimates & Trend Analysis
5.1. by Product & Market Share, 2023 & 2031
5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Product:

5.2.1. Consumables

5.2.1.1. Antibodies
5.2.1.2. Kits & Reagents
5.2.1.3. Probes
5.2.1.4. Other Consumables

5.2.2. Instruments

5.2.2.1. Pathology-based Instruments

5.2.2.1.1. Slide Staining Systems
5.2.2.1.2. Tissue Processing Systems
5.2.2.1.3. Cell Processors
5.2.2.1.4. PCR Instruments
5.2.2.1.5. NGS Instruments
5.2.2.1.6. Microarrays
5.2.2.1.7. Other Pathology-based Instruments

5.2.2.2. Imaging Instruments

5.2.2.2.1. CT Systems
5.2.2.2.2. Ultrasound Systems
5.2.2.2.3. MRI Systems
5.2.2.2.4. Mammography Systems
5.2.2.2.5. Nuclear Imaging Systems

5.2.3. Biopsy Instruments

Chapter 6. Market Segmentation 2: by Technology Estimates & Trend Analysis
6.1. by Technology & Market Share, 2023 & 2031
6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Technology:

6.2.1. IVD Testing

6.2.1.1. Polymerase Chain Reaction (PCR)
6.2.1.2. In Situ Hybridization (ISH)
6.2.1.3. Immunohistochemistry (IHC)
6.2.1.4. Next-generation Sequencing (NGS)
6.2.1.5. Microarrays
6.2.1.6. Flow Cytometry
6.2.1.7. Immunoassays
6.2.1.8. Other IVD Testing Technologies

6.2.2. Imaging

6.2.2.1. Magnetic Resonance Imaging (MRI)
6.2.2.2. Computed Tomography (CT)
6.2.2.3. Positron Emission Tomography (PET)
6.2.2.4. Mammography
6.2.2.5. Ultrasound

6.2.3. Biopsy Technique

Chapter 7. Market Segmentation 3: by Application Estimates & Trend Analysis
7.1. by Application & Market Share, 2023 & 2031
7.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Application:

7.2.1. Breast Cancer
7.2.2. Lung Cancer
7.2.3. Colorectal Cancer
7.2.4. Melanoma
7.2.5. Other Cancers

Chapter 8. Market Segmentation 4: by End-user Estimates & Trend Analysis
8.1. by End-user & Market Share, 2023 & 2031
8.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by End-user:

8.2.1. Hospitals
8.2.2. Diagnostic Laboratories

Chapter 9. Cancer Diagnostics Market Segmentation 5: Regional Estimates & Trend Analysis

9.1. North America

9.1.1. North America Cancer Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by Product, 2023-2031
9.1.2. North America Cancer Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2023-2031
9.1.3. North America Cancer Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
9.1.4. North America Cancer Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by End-user, 2023-2031
9.1.5. North America Cancer Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

9.2. Europe

9.2.1. Europe Cancer Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by Product, 2023-2031
9.2.2. Europe Cancer Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2023-2031
9.2.3. Europe Cancer Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
9.2.4. Europe Cancer Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by End-user, 2023-2031
9.2.5. Europe Cancer Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

9.3. Asia Pacific

9.3.1. Asia Pacific Cancer Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by Product, 2023-2031
9.3.2. Asia Pacific Cancer Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2023-2031
9.3.3. Asia-Pacific Cancer Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
9.3.4. Asia-Pacific Cancer Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by End-user, 2023-2031
9.3.5. Asia Pacific Cancer Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

9.4. Latin America

9.4.1. Latin America Cancer Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by Product, 2023-2031
9.4.2. Latin America Cancer Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2023-2031
9.4.3. Latin America Cancer Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
9.4.4. Latin America Cancer Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by End-user, 2023-2031
9.4.5. Latin America Cancer Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

9.5. Middle East & Africa

9.5.1. Middle East & Africa Cancer Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by Product, 2023-2031
9.5.2. Middle East & Africa Cancer Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by Technology, 2023-2031
9.5.3. Middle East & Africa Cancer Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
9.5.4. Middle East & Africa Cancer Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by End-user, 2023-2031
9.5.5. Middle East & Africa Cancer Diagnostics Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

Chapter 10. Competitive Landscape

10.1. Major Mergers and Acquisitions/Strategic Alliances

10.2. Company Profiles


10.2.1. Abbott Laboratories,
10.2.2. Agilent Technologies Inc.,
10.2.3. AMOY Diagnostics Co Ltd.,
10.2.4. Astellas Pharma Inc. (Japan)
10.2.5. BD
10.2.6. BiocartisNV,
10.2.7. bioMérieux SA (France)
10.2.8. Bristol-Myers Squibb Company (U.S.)
10.2.9. Cancer Diagnostics Inc.,
10.2.10. Danaher Corporation,
10.2.11. DiagnoCure Inc. (Canada)
10.2.12. DiaSorin S.P.A.,
10.2.13. Excat Science
10.2.14. F. Hoffmann-La Roche Ltd.
10.2.15. FUJIFILM Corporation,
10.2.16. GE Healthcare
10.2.17. Genomic Health, Inc. (U.S.)
10.2.18. GSK plc. (U.K.)
10.2.19. Hologic, Inc.
10.2.20. Illumina, Inc.
10.2.21. Koninklijke Philips N.V. (Philips)
10.2.22. Lilly (U.S.)
10.2.23. Merck KGaA, (Germany)
10.2.24. Myriad Genetics Inc.,
10.2.25. Novartis AG (Switzerland)
10.2.26. Pfizer, Inc. (U.S.)
10.2.27. Qiagen N.V.
10.2.28. Quest Diagnostics Incorporated. (U.S.)
10.2.29. Quidel Corporation,
10.2.30. Roche Diagnostics,
10.2.31. Siemens Healthcare GmbH
10.2.32. Thermo Fisher Scientific, Inc.
10.2.33. Other Prominent Players

Segmentation of Cancer Diagnostics Market -

Cancer Diagnostics Market By Product-

  • Consumables
  • Antibodies
  • Kits & Reagents
  • Probes
  • Others
  • Instruments
  • Pathology based Instrument
    • Slide Staining Systems
    • Tissue Processing Systems
    • Cell Processors
    • PCR Instruments
    • NGS Instruments
    • Microarrays
    • Other Pathology-based Instruments
  • Imaging Instruments
    • CT Systems
    • Ultrasound Systems
    • MRI Systems
    • Mammography Systems
    • Nuclear Imaging Systems
  • Biopsy Instruments 

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Cancer Diagnostics Market By Technology-

  • IVD Testing
  • Polymerase Chain Reaction (PCR)
  • In Situ Hybridization (ISH)
  • Immunohistochemistry (IHC)
  • Next-generation Sequencing (NGS)
  • Microarrays
  • Flow Cytometry
  • Immunoassays
  • Others
  • Imaging
  • Magnetic Resonance Imaging (MRI)
  • Computed Tomography (CT)
  • Positron Emission Tomography (PET)
  • Mammography
  • Ultrasound
  • Biopsy Technique

Cancer Diagnostics Market By Application-

  • Breast Cancer
  • Lung Cancer
  • Colorectal Cancer
  • Melanoma
  • Others

Cancer Diagnostics Market By End User-

  • Hospitals
  • Diagnostics Laboratories

Cancer Diagnostics Market By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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Frequently Asked Questions

How big is the Cancer Diagnostics Market?

Cancer Diagnostics Market expected to grow at a 6.29% CAGR during the forecast period for 2024-2031

GE Healthcare, Abbott Laboratories, Hologic Inc., Agilent Technologies Inc., Roche Diagnostics, FUJIFILM Corporation, Danaher Corporation, DiaSorin S.

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