Cancer Diagnostics Market

Cancer Diagnostics Market: Industry Trends and Global Forecasts to 2035 - Distribution by Type of Product (Consumables, Instruments and Others), by Test Type (Needle Biopsy, Endoscopic Biopsy, Bone Marrow Biopsy, Imaging Tests, In Vitro Diagnostic Testing and Other Tests), by Applications (Breast Cancer, Colorectal Cancer, Cervical Cancer, Lung Cancer, Prostate Cancer, Skin Cancer, Blood Cancer, Kidney Cancer, Liver Cancer, Pancreatic Cancer, Ovarian Cancer and Other Applications), by End Users (Hospitals, Diagnostic Laboratories and Other End Users) and Key Geographical Regions (North America, Europe, Asia-Pacific, Middle East and North Africa and Latin America):

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Cancer Diagnostics Market Overview 2023-2035

Cancer diagnostics market is a rapidly evolving field with numerous opportunities for growth and innovation. The market is driven by factors such as the increasing incidence of cancer, advancements in technology, and the rising demand for better management and treatment options. Major companies are actively involved in new product development and technical innovation, contributing to the market's immense pace of evolution.

Cancer diagnostics is a crucial aspect of cancer treatment, as it involves the identification, determination, and staging of cancer in a patient. Early diagnosis is essential for successful treatment, as it allows for timely intervention and reduces the risk of complications or recurrence. There are several approaches and tests used in cancer diagnostics, which can be broadly categorized into physical exams, laboratory tests, imaging tests, and biopsies. Doctors may perform a physical exam to feel for lumps or abnormalities that may indicate the presence of cancer, and they may also look for changes in skin color or enlargement of an organ that could signal cancer. Laboratory tests, such as urine and blood tests, can help identify abnormalities that can be caused by cancer. Imaging tests, such as CT scans, bone scans, MRI, PET scans, ultrasound, and X-ray, allow doctors to examine bones and internal organs noninvasively. A biopsy is a procedure in which a doctor collects a sample of abnormal tissue for further examination in a laboratory, where a pathologist looks at the tissue under a microscope and runs other tests on the cells in the sample to determine if the patient has cancer. Early detection and diagnosis of cancer are essential for improving treatment outcomes and increasing the chances of a cure. Therefore, it is crucial for patients to consult with their healthcare providers regularly and follow any recommended screening guidelines. In this cancer diagnostics market analysis we look at the cancer diagnostic guidelines, recommendations, competitor analysis, product analysis, market opportunity and forecast across various market segments over the forecast period.

Cancer Diagnostics Market Size, 2023 - 2035 Cancer Diagnostics Market Report by Segmentation Cancer Diagnostics Market Trends by Region, 2023 - 2035


Market Drivers: Aging Population and Rising Incidence of Cancer

The global cancer diagnostics market is being driven by several key factors. Firstly, the increasing incidence of cancer worldwide has created a significant demand for accurate and efficient treatment options. According to the worldwide cancer data published by World Cancer Research Fund International, there were more than 18 million new cases of cancer in 2020. Although there are cancer diagnostics available, the diseases still accounted for 10 million deaths in 2020.  This has led to a growing emphasis on the development of advanced diagnostic tools and techniques, resulting in improved imaging of cancer cells and increased accuracy of results. Additionally, there is a growing awareness of the importance of early detection, supported by government initiatives, public health campaigns, and advancements in screening technologies. The expansion of private diagnostic laboratories has also contributed to the cancer diagnostics market growth.

Market Restraints: High Cost of Instruments and Affordability of Diagnostics Tests

Market restraints in the cancer diagnostics market include factors that hinder the growth and development of the industry. These may encompass challenges such as regulatory hurdles, high costs associated with diagnostic procedures, and limited access to advanced diagnostic technologies. Additionally, the market may face constraints related to reimbursement policies, which can impact the adoption of new diagnostic methods. Furthermore, the economic environment and budgetary constraints in healthcare systems can also influence the market dynamics. These restraints need to be carefully navigated by industry players to ensure sustainable growth and innovation in cancer diagnostics.

Market Opportunities: Liquid Biopsy and Integration of Artificial Intelligence for Early Cancer Diagnosis

Key market opportunities in the cancer diagnostics domain include improving patient experience, data exchange and remote monitoring, personalized medicine, early detection and intervention, and reducing disparities in cancer care. These opportunities are driven by advancements in technology, an aging population, and the increasing burden of cancer in healthcare systems worldwide. Overall, the cancer diagnostics market offers significant potential for growth and innovation, with the potential to improve patient outcomes and promote equity in diagnosis and treatment.

Furthermore, new product launches and mergers and acquisitions by key players in the industry are playing a crucial role in driving the cancer diagnostics market growth. For instance, the breast cancer segment has seen significant growth owing to increasing research for the development of advanced screening tools, while the lung cancer segment is expected to expand rapidly in the coming years, driven by the availability of technologically advanced products for diagnosis, new product launches, and mergers and acquisitions. These factors collectively are creating opportunities in the cancer diagnostics market. The technological developments including the integration of artificial intelligence is moving the cancer diagnosis towards early diagnosis. Recently. MIT researchers announced they are working on the development of deep learning model for screening of low dose CT scans to predict lung cancer up to six years in advance. Additionally a number of companies are working on the development of liquid biopsy tests, which are blood tests that are helping with early detection of cancer.

Cancer Diagnostics Market Segments Overview

The cancer diagnostics market forecast on the basis of type of product (consumables and instruments). On the basis of test type (needle biopsy, endoscopic biopsy, bone marrow biopsy, imaging testing, in vitro diagnostic testing and other tests). On the basis of applications (breast cancer, colorectal cancer, cervical cancer, lung cancer, prostate cancer, skin cancer, blood cancer, kidney cancer, liver cancer, pancreatic cancer, ovarian cancer and other applications). On the basis of end users (hospitals, laboratories and other end users). By geographical regions, the cancer diagnostics market size is analyzed across North America, Europe, Asia-Pacific, Middle East and North Africa and Latin America.

Application Analysis Section: Breast Cancer Diagnostics Market Segment Holds the Largest Market Share

Based on applications, the cancer diagnostics market is analyzed across breast cancer, colorectal cancer, cervical cancer, lung cancer, prostate cancer, skin cancer, blood cancer, kidney cancer, liver cancer, pancreatic cancer, ovarian cancer and other applications. The breast cancer segment has led the application segment, with its strong market share attributed to the increasing research for the development of advanced screening tools. In the coming years, the lung cancer segment is expected to expand at the fastest CAGR, driven by an increase in the availability of various technologically advanced products for diagnosis, new product launches, and mergers and acquisitions. According to the worldwide cancer data published by World Cancer Research Fund International, breast cancer and lung cancer are the most common cancer equating to nearly 25% of all the new cases in 2020.  As such, there were more than 2.26 million new cases of breast cancer and 2.2 million new cases of lung cancer in 2020. As the incidence of these indications has increased, so have the availability of biomarkers for their early detection. In October 2023, DELFI Diagnostics launched FirstLook Lung, a machine learning based liquid biopsy blood test for lung cancer detection.

Regional Analysis Section: North America Will Continue to Dominate the Market Owing to Focus on Personalized Medicine

Based on region, the cancer diagnostics market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America is expected to dominate the cancer diagnostics market owing to the rising incidence of cancer. According to the American Cancer Society, US alone accounted for 1.8 million new cases of cancer in 2020, which is expected to cross 2 million new cases in 2024.  Aging population is one of the biggest factors contributing to this rise. 58% of the new cancer cases were diagnosed in people aged 65 and older during the period 2019-2020. The CDC in the US supports cancer screening for breast cancer, colorectal cancer, cervical cancer and lung cancer to allow early diagnosis / diagnosis in pre-cancerous stages. Most of the cancer screening tests in the US are covered under health insurance. The US Preventive Services Task Force recommended screening for prostate, breast, cervical, lung and colorectal cancer cases helped diagnose nearly 40% of these cancers with the current recommended screening methods.

On the other hand, the Asia-Pacific market is anticipated to grow at a lucrative rate owing to various factors, including increasing healthcare reforms. The rise in the investment in healthcare sector and the increase in prevalence of cancer across the region are major factors driving the growth of the market in Asia-Pacific. The expansion of various established cancer diagnostic companies into the Asia Pacific is also expected to positively impact the growth of the cancer diagnostics market.

Top Companies Engaged in Cancer Diagnostics Market

Key market players that are engaged in cancer diagnostics market are (in alphabetical order) Abbott, Becton Dickinson, GE Healthcare, Hologic, Illumina, Philips, Qiagen, Roche, Siemens Healthcare and Thermo Fisher Scientific. This cancer diagnostics market report includes an easily searchable excel database of all the cancer diagnostics companies worldwide.

Cancer Diagnostics Market Report Highlights

Aspects Details
by Product Type
  • Consumables
  • Instruments
by Test Type
  • Needle Biopsy
  • Endoscopic Biopsy
  • Bone Marrow Biopsy
  • Imaging Tests
  • In Vitro Diagnostic Tests
  • Other Tests
by Applications
  • Breast Cancer
  • Colorectal Cancer
  • Cervical Cancer
  • Lung Cancer
  • Prostate Cancer
  • Skin Cancer
  • Blood Cancer
  • Kidney Cancer
  • Liver Cancer
  • Pancreatic Cancer
  • Ovarian Cancer
  • Other Applications
by End Users
  • Hospitals
  • Laboratories 
  • Other End Users
Key Geographical Regions 
  • North America (U.S., Canada, Mexico)
  • Europe (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
  • Asia-Pacific (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
  • LAMEA (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
Key Market Players
  • Abbott
  • Becton Dickinson
  • GE Healthcare
  • Hologic
  • Illumina
  • Philips
  • Qiagen
  • Roche
  • Siemens Healthcare
  • Thermo Fisher Scientific


Recent Developments in Cancer Diagnostics Market

There has been recent activity in the cancer diagnostics industry and some of the key developments have been mentioned below:

  • In October 2023, QIAGEN and Myriad Genetics entered into a product development agreement to develop companion diagnostic tests for cancer treatment.
  • In June 2023, Exact Sciences announced collaborations with two renowned healthcare organizations, the Broad Institute of MIT and Harvard, to improve patient care by increasing access to genomic information. These collaborations aim to combine cutting-edge technologies with expertise from thought leaders in cancer research, providing smarter answers before diagnosis and throughout cancer treatment.

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