USD 160.5 billion
Global Cancer Diagnostics Market Size, Share, Growth Analysis, By Test(Instrument-Based Tests, Laboratory Tests), By Technology(Platform-Based, Instrument-Based), By Application(Lung Cancer, Breast Cancer), By End User(Hospitals, Diagnostic Laboratories), By Product(Consumables and Instruments) - Industry Forecast 2023-2030
Report ID: SQMIG35J2078 | Region: Global | Published Date: November, 2022 | Pages: 157 | Tables: 149 | Figures: 78
Global Cancer Diagnostics Market Insights
Cancer Diagnostics Market size was valued at USD 160.5 billion in 2021 and is poised to grow from USD 171.5 billion in 2022 to USD 276.8 billion by 2030, growing at a CAGR of 6.89% in the forecast period (2023-2030).
Globally, more than 10 million people die of various types of cancers. Cancer is a major cause of death worldwide, and it's becoming more common. According to the World Health Organization, cancer will kill more people in 2030 than any other disease. However, 50% disease burden can be reduced by 2050 if early cancer diagnosis is performed. There are many different types of cancer, and each one has its own risks and symptoms. Some cancers are more common in some groups of people than others, and some are more deadly.
Cancer is a complex disease, and there isn't always a single cause. However, the rise in prevalence of cancers in the recent years is majorly attributed to lifestyle choices, environmental exposures, and genetics. Cancer can also be caused by abnormalities in the genes that control the growth and development of cells. There is no one cure for cancer, but early diagnosis and timely treatments can help manage the disease and extend people's lives.
US Cancer Diagnostics Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2023-2030
Global Market Size
Largest Segment
Hospitals
Fastest Growth
Diagnostic Laboratories
Growth Rate
6.89% CAGR
Global Cancer Diagnostics Market, 2021-2028($ Bn)
Country Share for North America Region- 2021 (%)
Global Cancer Diagnostics Market Size By End User, 2021-2028 ($ Bn)
Global Cancer Diagnostics Market Size By End User, 2021-2028(%)
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Global Cancer Diagnostics Market Segmental Analysis
Global cancer diagnostics market is segmented by test, technology, application, end user and region. Based on the test, the Cancer Diagnostics Market is segmented into instrument-based tests, laboratory tests, and liquid biopsies. Based on the application, the Cancer Diagnostics Market is segmented into lung cancer, breast cancer, colorectal cancer, prostate cancer, stomach, liver, esophagus, thyroid, pancreatic cancer, leukemia, and others. Based on the technology, the Cancer Diagnostics Market is bifurcated into platform-based and instrument-based. By test, the market is segmented into Hospitals, Diagnostic Laboratories, Others. Based on product, the Cancer Diagnostics Market is segmented into Consumables and InstrumentsBased on Region, Cancer Diagnostics Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Cancer Diagnostics Market Analysis by Test
Based on test, the market has been segmented into instrument-based tests, laboratory tests, and liquid biopsies. Instrument-based test is expected to hold major share of the cancer diagnostics market in the years to come. In 2021, it held over 55% market share due to high preference for the non-invasive cancer diagnostic process by patients and physicians.
Cancer Diagnostics Market Analysis by Application
Based on application, the market is segmented into lung cancer, breast cancer, colorectal cancer, prostate cancer, stomach, liver, esophagus, thyroid, pancreatic cancer, leukemia, and others. However, lung and breast cancers collectively expected to lead the global cancer diagnostics market during the assessment period. Furthermore, their prevalence is projected to grow at the fastest rate during the forecast period. According to the American Cancer Society, the chance of developing lung cancer in non-smoker men is about 1 in 15 and 1 in 17 in non-smoker women. For smokers, this risk is much higher than for non-smokers. Thus, the high-risk rate of cancer is expected to increase the demand for the lung cancer diagnostic market during the forecast period.
Cancer Diagnostics Market Analysis by End User
Based on end-user, the market is segmented into hospitals, diagnostic laboratories, and other end users. Hospitals are estimated to continue holding the largest market share of the global cancer diagnostic market.
Hospitals are widely preferred for cancer diagnostics because they have the latest technology and the best staff. Cancer diagnosis is a highly specialized field, and hospitals have the expertise to perform the most accurate tests. The majority of cancer treatments take place in hospitals, and it is often the first place that patients go for treatment. Hospitals have the resources to handle any type of cancer and can provide comprehensive care for patients. Apart from this, increasing cancer-associated expenditures in developed nations such as U.S. and U.K. is adding more value to the market growth.
Global Cancer Diagnostics Market By End User , 2021(%), 2021 (%)
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Global Cancer Diagnostics Market Regional Insights
In 2021, the North America generated more than 37% revenue of the global cancer diagnostics market and is projected to continue leading the market. This is attributed to the growing incidences of cancers in the U.S., and Canada due to aging population, unhealthy lifestyles, and increased rate of obesity, among others. Furthermore, favorable government regulations, high insurance penetration, well-established healthcare infrastructure, and high spending on healthcare in the region are expected to support the market.
On the other hand, Europe accounted for over 30% of the global cancer diagnostics market revenue as the governments across several European countries are taking active steps to prevent and improve the survival rates.
Asia Pacific is projected to witness high growth due to lifestyle associate choices and largest population base. For instance, more than 50% of men in Indonesia, China, Malaysia, and Korea are smokers, which leads to a high risk of lung and other forms of cancer. Furthermore, the market growth is also supported by various programs from private entities.
Global Cancer Diagnostics Market By Geography, 2021 - 2028, 2023-2030
- Largest
- Fastest
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Global Cancer Diagnostics Market Dynamics
Cancer Diagnostics Market Driver
- Increasing government initiatives to spread awareness about the benefits of early diagnosis will boost cancer diagnostics market growth in the coming future. The awareness and availability of cancer diagnostic products are lower in developing and underdeveloped regions. To improve this, private as well as government organizations are conducting awareness campaigns to educate people regarding the importance of early diagnosis.
- Rising prevalence of cancer across the globe: This is largely attributed to the factors such as unhealthy eating habits and changing lifestyles.
Cancer Diagnostics Market Restraint
- People are more likely to seek treatment once they start to experience symptoms, which can make it difficult to identify the cancer early. Cancer typically does not show any signs until it has advanced far enough to cause serious health problems. This means that many people are diagnosed with cancer too late, when it is already too late to cure them.
- Most of the people in developing nations find the cancer diagnostic method expensive and try to avoid early diagnosis to save some money. The average spend on the diagnosis can go as high as $25,000 per year.
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Global Cancer Diagnostics Market Competitive Landscape
The global cancer diagnostics market has become highly competitive due to the increasing awareness about cancer and the advancements in technology. This has made it easier for patients to find the right cancer treatment. There are a number of companies that are currently competing in this market. Some of the most popular companies are Cancer Care Alliance, Quest Diagnostics, and Laboratory Corporation of America. These companies offer a range of services such as laboratory testing, treatment planning, and support.
In order to sustain in the highly competitive environment, companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their reach globally. The leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses to increase market share and improve profitability.
Cancer Diagnostics Market Top Player's Company Profiles
- Abbott Laboratories
- Agilent Technologies
- Becton, Dickinson and Company (BD)
- bioMérieux SA
- Danaher Corporation
- F. Hoffmann-La Roche Ltd.
- GE Healthcare
- Hologic, Inc.
- Illumina, Inc.
- Koninklijke Philips N.V.
- Merck KGaA
- Myriad Genetics, Inc.
- QIAGEN N.V.
- Quest Diagnostics
- Siemens Healthineers AG
- Sysmex Corporation
- Thermo Fisher Scientific Inc.
- Toshiba Corporation
- Varian Medical Systems, Inc.
- Zimmer Biomet Holdings, Inc.
Cancer Diagnostics Market Recent Developments
- In June 2022, Karkinos Healthcare, one of the key players in the global cancer diagnostics market, introduced "introduced Advanced Center for Cancer Diagnostics and Research." The center would act as a central lab for the company's global oncology network, analyzing specimens at the molecular and genomic level to aid in personalized targeted therapy, predicting possible treatment response, and evaluating response via liquid biopsy.
- In May 2022, Illumina unveiled a new pan-cancer companion diagnostic to match patients with rare genetic mutations for targeted therapy. This single test kit, which was recently launched across Europe, evaluates multiple tumor genes and biomarkers to reveal a patient's cancer's specific molecular profile.
- In May 2022, Qlucore announced a new precision diagnostics collaboration to develop solutions for improved clinical diagnostics of bladder cancer. Qlucore's third classifier model collaboration in the area of solid tumors is for bladder cancer.
Global Cancer Diagnostics Key Market Trends
- Early detection of cancers by a simple blood test, often called a liquid biopsy, is another side of diagnostics that has been gaining traction in the global cancer diagnostics market. Some recent studies have shown that a blood test that assesses multiple potential markers, including both genes and proteins, may be sensitive enough to potentially diagnose cancer.
Global Cancer Diagnostics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates, and analyses the data collected utilizing primary exploratory research backed by the robust secondary desk research.
According to our global cancer diagnostics market analysis, in 2021, the North America region led the global market by accounting for more than 37% of global revenue. Europe held more than 30% share of global cancer diagnostics market, in terms of revenue. Developed countries in Europe are taking active steps to prevent and match the survival rates that are best in the world. Hospitals are estimated to be the largest shareholder of the cancer diagnostic market. Increasing government initiatives to spread awareness about the benefits of early diagnosis is projected to flourish the global cancer diagnostics market in the years to come.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 160.5 billion |
| Market size value in 2030 | USD 276.8 billion |
| Growth Rate | 6.89% |
| Base year | 2021 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Cancer Diagnostics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Cancer Diagnostics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Cancer Diagnostics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Cancer Diagnostics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Cancer Diagnostics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Cancer Diagnostics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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