The global cancer diagnostics market size reached US$ 186.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 266.4 Billion by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028.
Cancer diagnostics represent a range of assessments and procedures executed using sophisticated technologies to identify biomarkers, proteins, tumor type, location, and signs about the stage and presence of various cancerous tumors. They encompass imaging, tumor biopsy, laboratory tests, immunohistochemistry genetic testing, and endoscopic examination as standard assessments. These diagnostics methodologies are performed based on the patient condition and severity of disorders. Apart from this, cancer diagnostics help healthcare practitioners in developing a personalized treatment plan, evaluating specific antigens in a sample tissue by using antibodies, and providing better clinical outcomes through early diagnosis and care. As a result, they are widely adopted in hospitals and laboratories to examine breast, lung, melanoma, and colorectal cancer. Currently, they are mainly available in fluorescent in situ and comparative genomic hybridization technologies.
Cancer Diagnostics Market Trends:
The increasing prevalence of cancer, owing to the rising consumption of alcoholic beverages and tobacco-based products, and the growing need for preventive, diagnostic technologies for better therapeutic effects are majorly driving the market growth. In line with this, significant enhancements in the healthcare sector and the advent of advanced oncological imaging modalities and imaging technologies to detect infections with enhanced accuracy are acting as another growth-inducing factor. Additionally, extensive investments by pharmaceutical companies to engineer cancer vaccines and novel biomarkers for the identification of potential tumor is contributing to the market growth. Moreover, the favorable initiatives being undertaken by non-governmental organizations (NGOs) and healthcare practitioners to sensitize individuals regarding the availability and benefits of early cancer diagnosis, such as instant decision-making and consequent treatment, are propelling the market growth. Other factors, such as the rapid establishment of private diagnostic centers and ongoing research and development (R&D) activities to design effective product variants with reduced treatment, hospitalization, and unavoidable intervention costs, are positively augmenting the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global cancer diagnosticsmarket report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, technology, application and end user.
Breakup by Product:
Kits and Reagents
Breakup by Technology:
Polymerase Chain Reaction (PCR)
In Situ Hybridization (ISH)
Next-generation Sequencing (NGS)
Magnetic Resonance Imaging (MRI)
Computed Tomography (CT)
Positron Emission Tomography (PET)
Breakup by Application:
Breakup by End User:
Hospitals and Clinics
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Abbott Laboratories, Agilent Technologies Inc., Becton Dickinson and Company, Bio-Rad Laboratories Inc., F. Hoffmann-La Roche AG (Roche Holding AG), GE HealthCare (General Electric Company), Hologic Inc., Illumina Inc., Koninklijke Philips N.V., Pfizer Inc., Qiagen N.V, Quest Diagnostics, Siemens Healthineers AG (Siemens AG) and Thermo Fisher Scientific Inc.
Base Year of the Analysis
Product, Technology, Application, End User, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Abbott Laboratories, Agilent Technologies Inc., Becton Dickinson and Company, Bio-Rad Laboratories Inc., F. Hoffmann-La Roche AG (Roche Holding AG), GE HealthCare (General Electric Company), Hologic Inc., Illumina Inc., Koninklijke Philips N.V., Pfizer Inc., Qiagen N.V, Quest Diagnostics, Siemens Healthineers AG (Siemens AG) and Thermo Fisher Scientific Inc.
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Key Questions Answered in This Report
The global cancer diagnostics market was valued at US$ 186.8 Billion in 2022.
We expect the global cancer diagnostics market to exhibit a CAGR of 5.9% during 2023-2028.
The rising adoption of cancer diagnostics by healthcare practitioners to develop a personalized treatment plan, evaluate specific antigens in a sample tissue, provide enhanced clinical outcomes through early care, etc., is primarily driving the global cancer diagnostics market.
The sudden outbreak of the COVID-19 pandemic had led to the postponement of elective cancer diagnostics procedures to reduce the risk of coronavirus infection upon hospital visits or interaction with healthcare professionals and medical equipment.
Based on the technology, the global cancer diagnostics market can be divided into IVD testing, imaging, and biopsy technique. Currently, imaging accounts for the largest market share.
Based on the application, the global cancer diagnostics market has been segregated into breast cancer, lung cancer, colorectal cancer, melanoma, and others. Among these, breast cancer currently exhibits a clear dominance in the market.
Based on the end user, the global cancer diagnostics market can be bifurcated into hospitals and clinics, diagnostic laboratories, and others. Currently, hospitals and clinics hold the majority of the total market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global cancer diagnostics market include Abbott Laboratories, Agilent Technologies Inc., Becton Dickinson and Company, Bio-Rad Laboratories Inc., F. Hoffmann-La Roche AG (Roche Holding AG), GE HealthCare (General Electric Company), Hologic Inc., Illumina Inc., Koninklijke Philips N.V., Pfizer Inc., Qiagen N.V, Quest Diagnostics, Siemens Healthineers AG (Siemens AG), and Thermo Fisher Scientific Inc.
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