Cancer Diagnostics Market Size is projected to reach USD

New York, United States, June 07, 2023 (GLOBE NEWSWIRE) -- Cancer diagnostics is the process of identifying biomarkers, proteins, and other indicators that assist in identifying a cancerous tumor. Planning and evaluating clinical outcomes, keeping track of disease severity, and confirming or excluding the presence of infection depend on effective diagnostic testing. Cancer can be diagnosed using imaging, laboratory tests (including tests for tumor markers), endoscopic examination, tumor biopsy, surgery, or genetic testing. The growth of the cancer diagnostics market has been significantly fueled by increased government initiatives and other private organizations, and it is anticipated that this trend will continue in the years to come.

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Rising Diagnostics Facilities in Developed Countries Drives the Global Market

As more people are diagnosed with cancer, there is a greater demand for diagnostic laboratories, which are developing into subspecialist centers for cancer diagnosis as they support the accuracy of diagnostic procedures. Rapidly exchanging digital images can enable these activities, which are dependent on quick consultations and integrating essential data to treat cancer patients. There have been significant improvements in the accuracy of cancer diagnosis due to the ease of consultation and peer review of cases, as well as the widespread use of digital images in training and quality assurance activities by pathology labs and the American Society for Clinical Pathology (ASCP).

Development of Diagnostic Tools for Various Cancer Mutations Creates Tremendous Opportunities

Due to the rise in cancer risk and prevalence, new diagnostic methods, such as liquid biopsies, are needed to identify analytes in bodily fluids like blood, urine, and cerebrospinal fluid. Consider the two liquid biopsies for cancer that the FDA (Food and Drug Administration) of the United States approved in 2020. The first is a companion diagnostic test that combines next-generation sequencing and liquid biopsy, two distinct technologies (NGS). This test aims to assist patients with a specific type of metastatic non-small cell lung cancer with EGFR gene mutations in treatment choices (NSCLC). The second test looks for specific gene mutations in circulating free DNA (cfDNA), isolated from whole blood plasma samples, to identify prostate cancer and NSCLC patients who might benefit from targeted therapy. Both approaches are suggested when a tissue biopsy cannot be performed.

Report Scope

Report Metric	Details
Market Size	USD 323.97 billion by 2030
CAGR	7% (2022-2030)
Historical Data	2019-2020
Base Year	2021
Forecast Period	2022-2030
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Products, Applications, End-User
Geographies Covered	North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors	Abbott Laboratories, Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., Danaher Corporation (Ge Healthcare), Hologic, Inc., Koninklijke Philips N.V. (Philips Healthcare), Qiagen N.V., Roche Holdings Ag (F. Hoffmann-La Roche Ltd.), Siemens Healthcare GMBH, and Thermo Fisher Scientific, Inc.
Key Market Opportunities	Creation of Diagnostic Methods for Different Cancer Mutations
Key Market Drivers	Rising Cancer Awareness by Government Programs and Additional Organizations Increasing Number of Diagnostics Facilities in Developed Nations

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Regional Analysis

North America is the most significant shareholder in the global cancer diagnostics market and is expected to grow at a CAGR of 6.3% during the forecast period. The presence of major key players in the market, such as GE Healthcare, Becton, Dickinson and Company, Abbott Laboratories, and Danaher Corporation, is essential to the growth of the cancer diagnostics market. The rise in demand for cancer diagnostics, an increase in the prevalence of lung cancer, breast cancer, and other cancer, the presence of state-of-the-art healthcare facilities with qualified medical staff, and an increase in the number of R&D centers are additional factors that have a significant impact on the growth of the North American cancer diagnostics market. The market is growing due to the sizable geriatric population, accessibility of cancer diagnostics, favorable reimbursement policies, and public awareness of diagnostics.

Europe is expected to grow at a CAGR of 6.8%, generating USD 84,081.31 million during the forecast period. The market for cancer diagnostics in European nations is anticipated to grow steadily during the forecast period due to the rising demand for advanced cancer diagnostics and the significant presence of major players like Siemens Healthineers AG and BioMérieux SA. Patients are also using cancer diagnostics more frequently in European countries. The rise in cancer prevalence and new product innovations for cancer diagnosis is also Europe's main growth drivers. Two significant growth drivers of the European market are the availability of qualified professionals and the developed infrastructure in the healthcare industry.

Asia-Pacific is expected to experience the most rapid market growth during the forecast period because of its large population of cancer patients, enhanced cancer diagnostic efficacy, favorable reimbursement policies, and expanding healthcare infrastructure. The primary factors influencing the market's rapid expansion are rising healthcare costs and growing public awareness of early cancer detection.

Key Highlights

The global cancer diagnostics market size was valued at USD 176,220.76 million in 2021. It is expected to reach USD 323,974.67 million by 2030, growing at a CAGR of 7.0% during the forecast period (2022–2030).
Based on product, the global cancer diagnostics market is bifurcated into consumables and instruments. The consumables segment is the highest contributor to the market and is expected to grow at a CAGR of 6.5% during the forecast period.
Based on application, the global cancer diagnostics market is bifurcated into breast cancer, colorectal cancer, cervical cancer, lung cancer, prostate cancer, skin cancer, blood cancer, kidney cancer, liver cancer, pancreatic cancer, and ovarian cancer. The breast cancer segment owns the highest market share and is expected to grow at a CAGR of 8.4% during the forecast period.
Based on the end-user, the global cancer diagnostics market is bifurcated into hospitals and clinics, diagnostic laboratories, diagnostic imaging centers, and research institutes. The hospitals and clinics segment is the highest contributor to the market and is expected to grow at a CAGR of 7.3% during the forecast period.
North America is the most significant shareholder in the global cancer diagnostics market and is expected to grow at a CAGR of 6.3% during the forecast period.

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Competitors in Cancer Diagnostics Market

Abbott Laboratories
Becton
Dickinson and Company
Bio-Rad Laboratories Inc.
Danaher Corporation (Ge Healthcare)
Hologic Inc.
Koninklijke Philips N.V. (Philips Healthcare)
Qiagen N.V.
Roche Holdings Ag (F. Hoffmann-La Roche Ltd.)
Siemens Healthcare GMBH
Thermo Fisher Scientific Inc

Segmentation of Cancer Diagnostics Market

By Products

Consumables
Instruments

By Applications

Breast Cancer
Colorectal Cancer
Cervical Cancer
Lung Cancer
Prostate Cancer
Skin Cancer
Blood Cancer
Kidney Cancer
Liver Cancer
Pancreatic Cancer
Ovarian Cancer
Others

By End-User

Hospitals and Clinics
Diagnostic Laboratories
Diagnostic Imaging Centers
Research Institute

By Regions

North America
Europe
Asia-Pacific
LAMEA

TABLE OF CONTENT

Executive Summary
Research Scope & Segmentation
1. Research Objectives
2. Market Definition
3. Limitations & Assumptions
4. Market Scope & Segmentation
5. Currency & Pricing Considered
Market Opportunity Assessment
1. Emerging Regions / Countries
2. Emerging Companies
3. Emerging Applications / End Use
4. Investment Landscape
5. New Business Models / Revenue Streams
6. TAM
Market Trends
1. Drivers
2. Market Warning Factors
3. Latest Macro Economic Indicators
4. Geopolitical Impact
5. Human Factors
6. Technology Factors
Market Assessment
1. Porters Five Forces Analysis
2. Value Chain Analysis
3. Sales And Distribution Channel Analysis
4. Trade Analysis
5. Average Pricing Analysis
6. Patent Analysis
7. M & A Agreements & Collabration Analysis
8. Cost Structure Analysis
ESG TRENDS
Global Cancer Diagnostics Market Size Analysis
1. Global Cancer Diagnostics Market Introduction
2. By Products
  1. Introduction
    1. Products By Value
  2. Consumables
    1. By Value
  3. Instruments
    1. By Value
3. By Applications
  1. Introduction
    1. Applications By Value
  2. Breast Cancer
    1. By Value
  3. Colorectal Cancer
    1. By Value
  4. Cervical Cancer
    1. By Value
  5. Lung Cancer
    1. By Value
  6. Prostate Cancer
    1. By Value
  7. Skin Cancer
    1. By Value
  8. Blood Cancer
    1. By Value
  9. Kidney Cancer
    1. By Value
  10. Liver Cancer
    1. By Value
  11. Pancreatic Cancer
    1. By Value
  12. Ovarian Cancer
    1. By Value
  13. Others
    1. By Value
4. By End-User
  1. Introduction
    1. End-User By Value
  2. Hospitals And Clinics
    1. By Value
  3. Diagnostic Laboratories
    1. By Value
  4. Diagnostic Imaging Centers
    1. By Value
  5. Research Institute
    1. By Value
North America Market Analysis
1. Introduction
2. By Products
  1. Introduction
    1. Products By Value
  2. Consumables
    1. By Value
  3. Instruments
    1. By Value
3. By Applications
  1. Introduction
    1. Applications By Value
  2. Breast Cancer
    1. By Value
  3. Colorectal Cancer
    1. By Value
  4. Cervical Cancer
    1. By Value
  5. Lung Cancer
    1. By Value
  6. Prostate Cancer
    1. By Value
  7. Skin Cancer
    1. By Value
  8. Blood Cancer
    1. By Value
  9. Kidney Cancer
    1. By Value
  10. Liver Cancer
    1. By Value
  11. Pancreatic Cancer
    1. By Value
  12. Ovarian Cancer
    1. By Value
  13. Others
    1. By Value
4. By End-User
  1. Introduction
    1. End-User By Value
  2. Hospitals And Clinics
    1. By Value
  3. Diagnostic Laboratories
    1. By Value
  4. Diagnostic Imaging Centers
    1. By Value
  5. Research Institute
    1. By Value
5. U.S.
6. Canada
Europe Market Analysis
1. Introduction
2. By Products
  1. Introduction
    1. Products By Value
  2. Consumables
    1. By Value
  3. Instruments
    1. By Value
3. By Applications
  1. Introduction
    1. Applications By Value
  2. Breast Cancer
    1. By Value
  3. Colorectal Cancer
    1. By Value
  4. Cervical Cancer
    1. By Value
  5. Lung Cancer
    1. By Value
  6. Prostate Cancer
    1. By Value
  7. Skin Cancer
    1. By Value
  8. Blood Cancer
    1. By Value
  9. Kidney Cancer
    1. By Value
  10. Liver Cancer
    1. By Value
  11. Pancreatic Cancer
    1. By Value
  12. Ovarian Cancer
    1. By Value
  13. Others
    1. By Value
4. By End-User
  1. Introduction
    1. End-User By Value
  2. Hospitals And Clinics
    1. By Value
  3. Diagnostic Laboratories
    1. By Value
  4. Diagnostic Imaging Centers
    1. By Value
  5. Research Institute
    1. By Value
5. U.K.
6. Germany
7. France
8. Spain
9. Italy
10. Russia
11. Nordic
12. Benelux
13. Rest Of Europe
APAC Market Analysis
1. Introduction
2. By Products
  1. Introduction
    1. Products By Value
  2. Consumables
    1. By Value
  3. Instruments
    1. By Value
3. By Applications
  1. Introduction
    1. Applications By Value
  2. Breast Cancer
    1. By Value
  3. Colorectal Cancer
    1. By Value
  4. Cervical Cancer
    1. By Value
  5. Lung Cancer
    1. By Value
  6. Prostate Cancer
    1. By Value
  7. Skin Cancer
    1. By Value
  8. Blood Cancer
    1. By Value
  9. Kidney Cancer
    1. By Value
  10. Liver Cancer
    1. By Value
  11. Pancreatic Cancer
    1. By Value
  12. Ovarian Cancer
    1. By Value
  13. Others
    1. By Value
4. By End-User
  1. Introduction
    1. End-User By Value
  2. Hospitals And Clinics
    1. By Value
  3. Diagnostic Laboratories
    1. By Value
  4. Diagnostic Imaging Centers
    1. By Value
  5. Research Institute
    1. By Value
5. China
6. Korea
7. Japan
8. India
9. Australia
10. Taiwan
11. South East Asia
12. Rest Of Asia-Pacific
Middle East And Africa Market Analysis
1. Introduction
2. By Products
  1. Introduction
    1. Products By Value
  2. Consumables
    1. By Value
  3. Instruments
    1. By Value
3. By Applications
  1. Introduction
    1. Applications By Value
  2. Breast Cancer
    1. By Value
  3. Colorectal Cancer
    1. By Value
  4. Cervical Cancer
    1. By Value
  5. Lung Cancer
    1. By Value
  6. Prostate Cancer
    1. By Value
  7. Skin Cancer
    1. By Value
  8. Blood Cancer
    1. By Value
  9. Kidney Cancer
    1. By Value
  10. Liver Cancer
    1. By Value
  11. Pancreatic Cancer
    1. By Value
  12. Ovarian Cancer
    1. By Value
  13. Others
    1. By Value
4. By End-User
  1. Introduction
    1. End-User By Value
  2. Hospitals And Clinics
    1. By Value
  3. Diagnostic Laboratories
    1. By Value
  4. Diagnostic Imaging Centers
    1. By Value
  5. Research Institute
    1. By Value
5. UAE
6. Turkey
7. Saudi Arabia
8. South Africa
9. Egypt
10. Nigeria
11. Rest Of MEA
LATAM Market Analysis
1. Introduction
2. By Products
  1. Introduction
    1. Products By Value
  2. Consumables
    1. By Value
  3. Instruments
    1. By Value
3. By Applications
  1. Introduction
    1. Applications By Value
  2. Breast Cancer
    1. By Value
  3. Colorectal Cancer
    1. By Value
  4. Cervical Cancer
    1. By Value
  5. Lung Cancer
    1. By Value
  6. Prostate Cancer
    1. By Value
  7. Skin Cancer
    1. By Value
  8. Blood Cancer
    1. By Value
  9. Kidney Cancer
    1. By Value
  10. Liver Cancer
    1. By Value
  11. Pancreatic Cancer
    1. By Value
  12. Ovarian Cancer
    1. By Value
  13. Others
    1. By Value
4. By End-User
  1. Introduction
    1. End-User By Value
  2. Hospitals And Clinics
    1. By Value
  3. Diagnostic Laboratories
    1. By Value
  4. Diagnostic Imaging Centers
    1. By Value
  5. Research Institute
    1. By Value
5. Brazil
6. Mexico
7. Argentina
8. Chile
9. Colombia
10. Rest Of LATAM
Competitive Assessment
1. Adoption Matrix
2. Cancer Diagnostics Market Share By Manufacturers
3. Cancer Diagnostics Market Ranking By Revenue For Manufacturers
4. Average Price By Manufacturers
5. Vendor Footprint Analysis
Market Players Assessment
1. Abbott Laboratories
  1. Overview
  2. Business Information
  3. Revenue
  4. ASP
  5. Gross Margin
  6. Swot Analysis
  7. Recent Developmments
2. Becton
3. Dickinson And Company
4. Bio-Rad Laboratories, Inc
5. Danaher Corporation (Ge Healthcare)
6. Hologic Inc
7. Koninklijke Philips N.V. (Philips Healthcare)
8. Qiagen N.V
9. Roche Holdings Ag (F. Hoffmann-La Roche Ltd.)
10. Siemens Healthcare GMBH
11. Thermo Fisher Scientific Inc
Research Methodology
1. Research Data
  1. Secondary Data
    1. Major Secondary Sources
    2. Key Data From Secondary Sources
  2. Primary Data
    1. Key Data From Primary Sources
    2. Breakdown Of Primaries
  3. Secondary And Primary Research
    1. Key Industry Insights
2. Market Size Estimation
  1. Bottom-Up Approach
  2. Top-Down Approach
  3. Market Projection
3. Research Assumptions
  1. Assumptions
4. Limitations
5. Risk Assessment
APPENDIX
1. Discussion Guide
2. Customization Options
3. Related Reports
DISCLAIMER

Table of Content and Figure @ https://straitsresearch.com/report/cancer-diagnostics-market/toc

Recent Development

In July 2022, Abbott released grow right 2.0, highlighting the appropriate means to help parents support holistic growth in children. Adversity’ right 2.0. Provides expert-backed advice, Charter can assist parents in addressing concerns and promoting healthy habits in children.
In September 2022, BD (Becton, Dickinson and Company), an industry leader in medical technology, unveiled a next-generation glass prefillable syringe (PFS) that raises the bar for vaccine PFS performance with new, more stringent requirements for processability, cosmetics, contamination, and integrity.

News Media

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Cervical Cancer Treatment Market: Information by Type (Squamous Cell Carcinomas, Adenocarcinomas), Treatment (Surgery, Radiation Therapy), and Region- Forecast till 2031

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Cancer Diagnostics Market Size is projected to reach USD 323.97 billion by 2030, growing at a CAGR of 7%: Straits Research

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Cancer Diagnostics Market Size is projected to reach USD 323.97 billion by 2030, growing at a CAGR of 7%: Straits Research

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