Cancer Diagnostics Market

Market Overview:

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 diagnostics market 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:

• Consumables
  • Antibodies
  • Kits and Reagents
  • Probes
  • Others
• Instruments
  • Pathology-based Instruments
  • Imaging Instruments
  • Biopsy Instruments
     

Breakup 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
   

Breakup by Application:

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

Breakup by End User:

• Hospitals and Clinics
• Diagnostic Laboratories
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

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.

Report Coverage: