Cancer Diagnostics Market is projected to hit US$ 280.37 Billion by 2030, as per a report. Enabling early detection and precise identity of cancer kinds makes cancer diagnostics paramount in cutting-edge healthcare. Timely prognosis is pivotal for effective remedies, improving patient consequences, and lowering mortality costs. Modern diagnostic technology, like imaging, genetic testing, and liquid biopsies, are essential in tailoring personalized treatment plans. With the growing prevalence of cancers globally, superior diagnostics now contribute to higher analysis and facilitate the improvement of focused treatments, improving the general efficacy and performance of cancer care in the modern healthcare landscape.
Besides, the emergence of new diagnostic biomarkers similarly bolsters the cancer diagnostics market, capitalizing on heightened insights into unique cancer biomarkers. Notably, the Indian Institute of Technology (IIT), Madras, established a Centre of Excellence in 2023 to pioneer biomarkers for early pancreatic cancer detection, leveraging an India-specific cancer genome database for identifying biomarkers and drug goals. This interdisciplinary endeavor includes developing a 3D organoid model for disorder monitoring and drug screening to enhance India's healthcare infrastructure. Technological improvements in biotechnology have enabled the identification and commercialization of potential cancer biomarkers, fostering beneficial growth possibilities in the cancer diagnostics sector. Hence, the global cancer diagnostics market was valued at US$ 171.99 Billion in 2023.
Further, technological development in cancer diagnosis is another prominent element driving the need for diagnostic instruments within the cancer diagnostics market. In 2023, researchers from the University of Technology Sydney developed the Static Droplet Microfluidic device, which can quickly target circulating tumor cells that have been broken away from a primary tumor and entered the bloodstream.
Moreover, government projects are aiding the cancer diagnostics market. India, among few developing nations with a National Cancer Control Programme, focuses on tobacco-related cancer management, early uterine cervical cancer analysis, and expanded healthcare infrastructure for remedy services and palliative care. Targeting teenagers through anti-tobacco campaigns, implementing tobacco laws, and emphasizing nutritional practices are critical preventive measures. District hospitals have a 'Cancer Detection and Prevention Clinic' program that may enhance cancer control via specialized clinics imparting diagnostic offerings and primary remedies.
In June 2022 - Roche launched the BenchMark ULTRA PLUS system, which enables timely and targeted patient care for cancer diagnostics.
2. Colorectal Cancer
3. Cervical Cancer
4. Lung Cancer
5. Prostate Cancer
6. Skin Cancer
7. Blood Cancer
8. Kidney Cancer
9. Liver Cancer
10. Pancreatic Cancer
11. Ovarian Cancer
12. Others
2. Imaging
3. Biopsy
4. Liquid Biopsy
5. Immunohistochemistry
6. In Situ Hybridization
2. Hospitals and Clinics
3. Research Institutes
4. Others
1.1 United States
1.2 Canada
2. Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherlands
2.8 Turkey
3. Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand
4. Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
5. Middle East & Africa
5.1 Saudi Arabia
5.2 UAE
5.3 South Africa
2. Abbott Laboratories
3. Thermo Fisher Scientific, Inc.
4. QIAGEN N.V.
5. Roche Holding AG.
6. Pfizer, Inc.
7. Koninklijke Philips N.V.
8. bioMérieux
From the forecast period of 2024 to 2030, the Cancer Diagnostics Market increase at a compound annual growth rate (CAGR) of 7.23% is expected
The escalating international cancer incidence is a key driver fueling the growth of the cancer diagnostics market. According to the Pan American Health Organization, approximately 20 million new instances of cancers and 10 million cancer-associated deaths befell globally. Regrettably, it's far expected that most cancer instances will boom by 60% over the following many years, adding strain to healthcare structures, people, and groups. By 2040, the global cancer burden is projected to exceed 30 million new instances, with low- and middle-income areas experiencing the maximum massive upward thrust.Besides, the emergence of new diagnostic biomarkers similarly bolsters the cancer diagnostics market, capitalizing on heightened insights into unique cancer biomarkers. Notably, the Indian Institute of Technology (IIT), Madras, established a Centre of Excellence in 2023 to pioneer biomarkers for early pancreatic cancer detection, leveraging an India-specific cancer genome database for identifying biomarkers and drug goals. This interdisciplinary endeavor includes developing a 3D organoid model for disorder monitoring and drug screening to enhance India's healthcare infrastructure. Technological improvements in biotechnology have enabled the identification and commercialization of potential cancer biomarkers, fostering beneficial growth possibilities in the cancer diagnostics sector. Hence, the global cancer diagnostics market was valued at US$ 171.99 Billion in 2023.
Further, technological development in cancer diagnosis is another prominent element driving the need for diagnostic instruments within the cancer diagnostics market. In 2023, researchers from the University of Technology Sydney developed the Static Droplet Microfluidic device, which can quickly target circulating tumor cells that have been broken away from a primary tumor and entered the bloodstream.
Moreover, government projects are aiding the cancer diagnostics market. India, among few developing nations with a National Cancer Control Programme, focuses on tobacco-related cancer management, early uterine cervical cancer analysis, and expanded healthcare infrastructure for remedy services and palliative care. Targeting teenagers through anti-tobacco campaigns, implementing tobacco laws, and emphasizing nutritional practices are critical preventive measures. District hospitals have a 'Cancer Detection and Prevention Clinic' program that may enhance cancer control via specialized clinics imparting diagnostic offerings and primary remedies.
Diagnosis of lung cancer is a significant area of focus in the cancer diagnostics market
Among applications, the cancer diagnostics market is fragmented into Breast Cancer, Colorectal Cancer, Cervical Cancer, Lung Cancer, Prostate Cancer, Skin Cancer, Blood Cancer, Kidney Cancer, Liver Cancer, Pancreatic Cancer, Ovarian Cancer, and Others. Lung cancer stands as a prominent focus in the cancer diagnostics market because of its excessive occurrence and mortality rates globally. According to the American Cancer Society, in 2023, an anticipated 238,340 people (117,550 guys and 120,790 women) may be recognized with lung cancer, and 127,070 human beings will die from the sickness. Early detection through advanced diagnostic gear is essential for improving the consequences of the affected person, making lung cancer analysis a substantial area of study and funding within the healthcare industry.Global cancer diagnostics market might experience growth in China
The cancer diagnostics market is segmented based on the country into five regions: North America (United States, Canada), Europe (France, Germany, Italy, Spain, United Kingdom, Belgium, the Netherlands, and Turkey), Asia Pacific (China, Japan, India, Australia, South Korea, Thailand, Malaysia, Indonesia, and New Zealand), Latin America (Brazil, Mexico, and Argentina), and Middle East & Africa (South Africa, Saudi Arabia, and the United Arab Emirates). The potential boom of China is anticipated in the international cancer diagnostics market, fueled by its enormous populace and escalating cancer rates. According to a Science Direct article, China reported 4,824,700 new cancer instances and 2,574,200 deaths in 2022, with lung, colon-rectum, thyroid, liver, and stomach cancers comprising 57.42% of cases. China aims to reinforce its presence by focusing on healthcare infrastructure and superior diagnostics. Initiatives like ""Healthy China 2030"" try to increase cancer survival charges by 15% by 2030 and provide complete chronic ailment management, meeting the high demand for cancer diagnosis and treatment.Key Players
llumina, Abbott Laboratories, Thermo Fisher Scientific, Inc., QIAGEN N.V., Roche Holding AG., Pfizer, Inc., Koninklijke Philips N.V., and bioMérieux are major companies in the global cancer diagnostics market.In June 2022 - Roche launched the BenchMark ULTRA PLUS system, which enables timely and targeted patient care for cancer diagnostics.
Application - Cancer Diagnostics Market breakup in 12 viewpoints:
1. Breast Cancer2. Colorectal Cancer
3. Cervical Cancer
4. Lung Cancer
5. Prostate Cancer
6. Skin Cancer
7. Blood Cancer
8. Kidney Cancer
9. Liver Cancer
10. Pancreatic Cancer
11. Ovarian Cancer
12. Others
Test Type - Cancer Diagnostics Market breakup in 6 viewpoints:
1. Tumor Biomarkers Tests2. Imaging
3. Biopsy
4. Liquid Biopsy
5. Immunohistochemistry
6. In Situ Hybridization
End-User - Cancer Diagnostics Market breakup in 4 viewpoints:
1. Diagnostic Centers2. Hospitals and Clinics
3. Research Institutes
4. Others
Country - Cancer Diagnostics Market of 25 Countries:
1. North America1.1 United States
1.2 Canada
2. Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherlands
2.8 Turkey
3. Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand
4. Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
5. Middle East & Africa
5.1 Saudi Arabia
5.2 UAE
5.3 South Africa
All the Key players have been covered from 3 Viewpoints:
- Overview
- Recent Development
- Revenue Analysis
Company Analysis:
1. llumina2. Abbott Laboratories
3. Thermo Fisher Scientific, Inc.
4. QIAGEN N.V.
5. Roche Holding AG.
6. Pfizer, Inc.
7. Koninklijke Philips N.V.
8. bioMérieux
Table of Contents
1. Introduction2. Research Methodology3. Executive Summary5. Global Cancer Diagnostics Market
4. Market Dynamics
6. Market Share - Global Cancer Diagnostics Analysis
7. Application - Global Cancer Diagnostics Market
8. Test Type - Global Cancer Diagnostics Market
9. End-User - Global Cancer Diagnostics Market
10. Country - Global Cancer Diagnostics Market
11. Porter’s Five Analysis - Global Cancer Diagnostics Market
12. SWOT Analysis - Global Cancer Diagnostics Market
13. Company Analysis - Global Cancer Diagnostics Market
List of Figure
List of Tables
Companies Mentioned
- llumina
- Abbott Laboratories
- Thermo Fisher Scientific, Inc.
- QIAGEN N.V.
- Roche Holding AG.
- Pfizer, Inc.
- Koninklijke Philips N.V.
- bioMérieux
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 240 |
| Published | March 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 171.99 Billion |
| Forecasted Market Value ( USD | $ 280.37 Billion |
| Compound Annual Growth Rate | 7.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
