Cancer Diagnostics Market by Types (Laboratory Tests, Genetic Tests, Imaging, Endoscopy, Biopsy, Barium Enema, and Others), Applications (Breast Cancer, Colorectal Cancer, Cervical Cancer, Lung Cancer, Prostate Cancer, Skin Cancer, Blood Cancer, Kidney Cancer, Pancreatic Cancer, Ovarian Cancer, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
Cancer Diagnostics Market Outlook 2031
The global cancer diagnostics market size was valued at USD 19.18 Billion in 2022 and is likely reach to USD 51.09 Billion by 2031, expanding at a CAGR of 11.5% during the forecast period, 2023 – 2031. The growth of the market is attributed to the increasing occurrences of oncologic cases, growing need of effective screen testing, and continuous technological developments in the study and development of cancer.
Cancer is defined as a collection of diseases that involve abnormal cell growth, which has the ability to spread at a rapid pace and can also invade towards additional components of the body. Initial symptoms and signs include prolonged cough, a lump, and irregularities in bowel movements, unexplained weight loss, and abnormal bleeding.
The use of tobacco is considered to be the main cause of cancer deaths. Other reasons can be due to obesity, lack of physical activity, sedentary lifestyle, excess drinking habit of alcohol, and poor diet. Experience to ionizing radiation, environmental pollutants, and certain infections can also attribute to cancer formation.
The risk involved in the development of most cancers can be controlled by following a healthy lifestyle, maintaining a good body mass index, quit smoking, limiting alcohol intake, vaccination against infectious diseases, and eating nutritious fruits, whole grains and vegetables. Researchers, doctors, and scientists have discovered different approaches to the treatment of cancer, which varies upon the stages which the patient is undergoing.
Physical examinations are the preliminary methods where the doctors seek to find information for any abnormalities in the patient such as enlargement of certain organs and changing in skin color. Laboratory testing such as blood and urine tests are widely adopted by doctors to identify deformities that can lead to cancer.
Imaging tests allow the doctor to investigate the patient’s internal organs and bones as well as search for signs leading to cancer effectively and accurately. Moreover, doctors can also collect samples of cells for the biopsy testing, which depends on the organ to which the cancer is diagnosed towards.
The COVID-19 pandemic has reduced the growth of the global cancer diagnostics product & services market initially. However, upon further studies, researchers and scientists found out that the coronavirus has the viral gene of accelerating illness of the hosts. Basically, a patient of cancer was more susceptible to the COVID-19 virus than that of a healthy person.
This steered to hospitals, clinics, and healthcare laboratories to focus more on both COVID-19 vaccination and cancer diagnosis simultaneously for the prevention and treatment of diseases and this led to its market growth.
Cancer Diagnostics Market Trends, Drivers, Restraints, and Opportunities
- The major driver for the global cancer diagnostics market is the rising awareness of different cancer diagnostic procedures along with favorable government initiatives for the treatment and diagnosis of this disease.
- The increase in funding and investments from both the government and private investors to the diagnosis to cancer present a major driver for the growth in this market.
- Numerous screening practices such as imaging, endoscopy, and other laboratory tests, which enable the detection of disease at the preliminary stage. This is projected to boost the market growth.
- Several risk factors related to the using of medical imaging acts as a key challenge that can hinder towards the global cancer diagnostics market growth.
- High cost in performing of the cancer diagnosis especially in developing countries is a major restraint in the global cancer diagnostics market.
Scope of Cancer Diagnostics Market Report
The report on the global cancer diagnostics market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Cancer Diagnostics Market Size - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2022 |
Historic Data |
2016–2021 |
Forecast Period |
2023–2031 |
Segmentation |
Types (Laboratory Tests, Genetic Tests, Imaging, Endoscopy, Biopsy, Barium Enema, and Others) and Applications (Breast Cancer, Colorectal Cancer, Cervical Cancer, Lung Cancer, Prostate Cancer, Skin Cancer, Blood Cancer, Kidney Cancer, Pancreatic Cancer, Ovarian Cancer, and Others) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Trends, and Revenue Forecast |
Key Players Covered in the Report |
GE Healthcare; Abbott Laboratories; F.Hoffmann-La Roche Ltd; Siemens Healthcare GmbH; Becton, Dickinson & Company; Illumina Inc.; Koninklijke Philips N.V; and Hologic Inc. |
Cancer Diagnostics Market Segment Insights
Imaging segment to lead the market share
Based on types, the global cancer diagnostics market is segmented into laboratory tests, genetic tests, imaging, endoscopy, biopsy, barium enema, and others. The imaging segment is expected to lead the market in terms of the revenue share in the coming years owing to wide adoption of imagining process for cancer detection.
Latest imaging sensory systems such as the magnetic resonance imaging and the computer tomography scanning are pain-free diagnostic, precise, accurate, non-invasive, and quick solutions.
These imaging modalities can also be used for supportive testing as well as other genetic and laboratory tests to understand the severity and location of the cancer condition that is dwelled in the patient’s body. These factors are also the main reason to boost the imaging segment during the forecast period.
On the other hand, the laboratory and genetic tests segments in combined is projected to register a significant CAGR during the forecast period. During the process of cancer diagnosis of a patient, the genetic and laboratory tests are done on the preliminary basis and then the imaging test procedure is conducted for conclusive diagnosis of the cancer.
Breast Cancer to constitute a large market share
On the basis of applications, the market is divided into breast cancer, colorectal cancer, cervical cancer, lung cancer, prostate cancer, skin cancer, blood cancer, kidney cancer, pancreatic cancer, ovarian cancer, and others. The breast cancer segment is anticipated to constitute a large market share in the coming years owing to the rise of wide application of mammography. It is considered to be one of the most popular and common screening tests for breast tumor and cancer screening
Cancer Diagnostics Market Regional Outlook
North America to hold a major revenue market share
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America held a dominant market share representing more than 40% of the global market share in 2016 and is expected to continue this trend during the forecast period, 2023-2031.
The presence of major key players in the region and existing favorable healthcare insurance to its citizens. Along the greater funding available for research and development activities, the adoption of advanced technology in cancer diagnostics devices and kits is a key factor propelling the regional market growth.
Meanwhile, the market in Asia Pacific is anticipated to register a substantial CAGR during the forecast period owing to rising number of cancer patients and growing awareness of cancer diagnostic process. Several government policies to improve the existing healthcare facilities and expansion of various medical infrastructure in the region play another key factor for the market growth in Asia Pacific.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Cancer Diagnostics Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Cancer Diagnostics Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Cancer Diagnostics Market - Supply Chain
4.5. Global Cancer Diagnostics Market Forecast
4.5.1. Cancer Diagnostics Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Cancer Diagnostics Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Cancer Diagnostics Market Absolute $ Opportunity
5. Global Cancer Diagnostics Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Cancer Diagnostics Market Size and Volume Forecast by Types
5.3.1. Laboratory Tests
5.3.2. Genetic Tests
5.3.3. Imaging
5.3.4. Endoscopy
5.3.5. Biopsy
5.3.6. Barium Enema
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Cancer Diagnostics Market Analysis and Forecast by Applications
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Applications
6.2.2. Y-o-Y Growth Projections by Applications
6.3. Cancer Diagnostics Market Size and Volume Forecast by Applications
6.3.1. Breast Cancer
6.3.2. Colorectal Cancer
6.3.3. Cervical Cancer
6.3.4. Lung Cancer
6.3.5. Prostate Cancer
6.3.6. Skin Cancer
6.4. Absolute $ Opportunity Assessment by Applications
6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Cancer Diagnostics Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Cancer Diagnostics Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Cancer Diagnostics Demand Share Forecast, 2019-2026
8. North America Cancer Diagnostics Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Cancer Diagnostics Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Cancer Diagnostics Market Size and Volume Forecast by Types
8.4.1. Laboratory Tests
8.4.2. Genetic Tests
8.4.3. Imaging
8.4.4. Endoscopy
8.4.5. Biopsy
8.4.6. Barium Enema
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America Cancer Diagnostics Market Size and Volume Forecast by Applications
8.7.1. Breast Cancer
8.7.2. Colorectal Cancer
8.7.3. Cervical Cancer
8.7.4. Lung Cancer
8.7.5. Prostate Cancer
8.7.6. Skin Cancer
8.8. Basis Point Share (BPS) Analysis by Applications
8.9. Y-o-Y Growth Projections by Applications
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Cancer Diagnostics Demand Share Forecast, 2019-2026
9. Latin America Cancer Diagnostics Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Cancer Diagnostics Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Cancer Diagnostics Market Size and Volume Forecast by Types
9.4.1. Laboratory Tests
9.4.2. Genetic Tests
9.4.3. Imaging
9.4.4. Endoscopy
9.4.5. Biopsy
9.4.6. Barium Enema
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America Cancer Diagnostics Market Size and Volume Forecast by Applications
9.7.1. Breast Cancer
9.7.2. Colorectal Cancer
9.7.3. Cervical Cancer
9.7.4. Lung Cancer
9.7.5. Prostate Cancer
9.7.6. Skin Cancer
9.8. Basis Point Share (BPS) Analysis by Applications
9.9. Y-o-Y Growth Projections by Applications
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Cancer Diagnostics Demand Share Forecast, 2019-2026
10. Europe Cancer Diagnostics Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Cancer Diagnostics Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Cancer Diagnostics Market Size and Volume Forecast by Types
10.4.1. Laboratory Tests
10.4.2. Genetic Tests
10.4.3. Imaging
10.4.4. Endoscopy
10.4.5. Biopsy
10.4.6. Barium Enema
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe Cancer Diagnostics Market Size and Volume Forecast by Applications
10.7.1. Breast Cancer
10.7.2. Colorectal Cancer
10.7.3. Cervical Cancer
10.7.4. Lung Cancer
10.7.5. Prostate Cancer
10.7.6. Skin Cancer
10.8. Basis Point Share (BPS) Analysis by Applications
10.9. Y-o-Y Growth Projections by Applications
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Cancer Diagnostics Demand Share Forecast, 2019-2026
11. Asia Pacific Cancer Diagnostics Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Cancer Diagnostics Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Cancer Diagnostics Market Size and Volume Forecast by Types
11.4.1. Laboratory Tests
11.4.2. Genetic Tests
11.4.3. Imaging
11.4.4. Endoscopy
11.4.5. Biopsy
11.4.6. Barium Enema
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific Cancer Diagnostics Market Size and Volume Forecast by Applications
11.7.1. Breast Cancer
11.7.2. Colorectal Cancer
11.7.3. Cervical Cancer
11.7.4. Lung Cancer
11.7.5. Prostate Cancer
11.7.6. Skin Cancer
11.8. Basis Point Share (BPS) Analysis by Applications
11.9. Y-o-Y Growth Projections by Applications
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Cancer Diagnostics Demand Share Forecast, 2019-2026
12. Middle East & Africa Cancer Diagnostics Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Cancer Diagnostics Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Cancer Diagnostics Market Size and Volume Forecast by Types
12.4.1. Laboratory Tests
12.4.2. Genetic Tests
12.4.3. Imaging
12.4.4. Endoscopy
12.4.5. Biopsy
12.4.6. Barium Enema
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa Cancer Diagnostics Market Size and Volume Forecast by Applications
12.7.1. Breast Cancer
12.7.2. Colorectal Cancer
12.7.3. Cervical Cancer
12.7.4. Lung Cancer
12.7.5. Prostate Cancer
12.7.6. Skin Cancer
12.8. Basis Point Share (BPS) Analysis by Applications
12.9. Y-o-Y Growth Projections by Applications
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Cancer Diagnostics Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Cancer Diagnostics Market: Market Share Analysis
13.2. Cancer Diagnostics Distributors and Customers
13.3. Cancer Diagnostics Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. GE Healthcare
13.4.2. Abbott Laboratories
13.4.3. F.Hoffmann-La Roche Ltd
13.4.4. Siemens Healthcare GmbH
13.4.5. Becton, Dickinson & Company
13.4.6. Illumina Inc.