Next-Generation Cancer Diagnostics Market by Technology (Clustered Regularly Interspaced Short Palindromic Repeats Diagnostics, DNA Microarrays, Lab-on-a-Chip & Reverse Transcriptase-PCR), Cancer Type (Bladder Cancer, Breast Cancer, Cervical Cancer), Appl
Next-Generation Cancer Diagnostics Market by Technology (Clustered Regularly Interspaced Short Palindromic Repeats Diagnostics, DNA Microarrays, Lab-on-a-Chip & Reverse Transcriptase-PCR), Cancer Type (Bladder Cancer, Breast Cancer, Cervical Cancer), Application, Function - Global Forecast 2024-2030
The Next-Generation Cancer Diagnostics Market size was estimated at USD 9.77 billion in 2023 and expected to reach USD 12.02 billion in 2024, at a CAGR 24.12% to reach USD 44.36 billion by 2030.
The next-generation cancer diagnostics market encompasses the latest technological advancements in the tools, techniques, and methodologies utilized to detect and characterize cancers. This market focuses on innovations that offer enhanced accuracy, sensitivity, and specificity compared to traditional diagnostic methods. It includes genomic, proteomic, and epigenomic analysis, imaging techniques, and bioinformatics tools for early detection, prognosis, and cancer treatment monitoring. Several factors drive the expansion of next-generation cancer diagnostics, including the increasing global prevalence of cancer, advancements in genomic sequencing technologies, and the growing emphasis on personalized medicine. Furthermore, government initiatives and funding for cancer research contribute significantly to market growth. Integrating artificial intelligence and machine learning in diagnostics also presents opportunities for enhanced precision in cancer detection and prognosis. Despite the promising development, the next-generation cancer diagnostics market faces several limitations and challenges. High costs associated with advanced diagnostic technologies can limit access to these tools, particularly in low- and middle-income countries. Moreover, the complexity of cancer biology and the variability in tumor types pose challenges in developing universally effective diagnostic solutions. Regulatory hurdles and the need for robust clinical validation also slow down the market's pace of innovation. However, recent developments in liquid biopsy, circulating tumor DNA (ctDNA) analysis, and non-invasive imaging techniques have opened new avenues for early cancer detection and monitoring. These advancements present significant opportunities for market growth. Moreover, the application of next-generation sequencing (NGS) in cancer diagnostics continues to evolve, offering the potential to discover novel biomarkers and therapeutic targets.
Regional Insights
In the Americas, particularly the United States, next-generation cancer diagnostics are experiencing rapid advancements, largely driven by significant investments in research and development. The focus is largely on precision medicine and non-invasive diagnostic techniques, such as liquid biopsies that detect circulating tumor DNA. The EMEA region shows a diverse landscape in adopting and developing next-generation cancer diagnostics. Europe leads within the region, with several countries incorporating genomic sequencing and biomarker analysis into standard cancer care, supported by strong healthcare systems and public healthcare policies. The Middle East, particularly countries such as Israel and the United Arab Emirates, are rapidly emerging as innovative hubs for medical technology, including cancer diagnostics. Africa faces more challenges, including resource limitations, but progress is being made through international partnerships and initiatives to improve cancer care infrastructure and accessibility. The Asia-Pacific region is witnessing significant growth in the next-generation cancer diagnostics market, driven by rising cancer prevalence, growing healthcare expenditure, and a surge in awareness about early cancer detection. Japan, South Korea, China, and Australia are at the forefront, investing heavily in healthcare technology and research. China, in particular, has seen rapid advancements and high adoption rates of technologies such as AI-driven diagnostic tools. Additionally, the region benefits from several fast-growing biotech startups and strategic collaborations between global and local firms aiming to tailor cancer diagnostics to regional specificities.
Market Insights
Market Dynamics
The market dynamics represent an ever-changing landscape of the Next-Generation Cancer Diagnostics Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
Market Drivers
Increasing Burden of Cancer Cases Globally and Need for Efficient Diagnostics
Growing Utilization of Microfluidic Chips in Cancer Management
Government Initiatives Towards Cancer Screening
Market Restraints
High Investment and Insufficient Standardization of Diagnostics
Market Opportunities
Proliferation of Personalized and Advanced Genome Medicine
Technological Advancements in Next-Generation Cancer Diagnostics
Market Challenges
Limitations and Risks Associated with NGC Diagnostics
Market Segmentation Analysis
Technology: Increasing demand across molecular diagnostics to identify mutations associated with cancer
Application: Deployment of diagnostic tools across therapeutic monitoring to track the effectiveness of cancer treatments
Market Disruption Analysis
Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis
FPNV Positioning Matrix
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Next-Generation Cancer Diagnostics Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Next-Generation Cancer Diagnostics Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments
Genialis to Develop Biomarker-Based Cancer Diagnostic Models
Genialis, an AI-driven life sciences company, is working to develop the next generation of cancer diagnostics based on biomarkers. Through a targeted approach to cancer detection, these models can accurately identify and track cancer at the cellular level in order to make more individualized diagnoses. In addition to improving accuracy, these biomarker models are expected to reduce diagnostic costs and improve patient outcomes. As the field of personalized, precision oncology continues to grow, Genialis' work in developing biomarker-based diagnostic models has the potential to revolutionize how healthcare providers detect and treat cancer.
Thermo Fisher Scientific and Arsenal Biosciences Collaborate to Support Clinical Manufacturing of Autologous T-Cell Therapies
Thermo Fisher Scientific Inc. strategic collaboration to support clinical manufacturing of T-cell therapies. This union aims to unlock the power of next-generation cancer diagnostics, further therapy development, and increase access to curative drugs. Through this collaboration, both industry-leading companies will bring their expertise in process optimization, CMC development, and cell engineering to maximize production efficiency through automation and high-quality processes. This collective vision for better health outcomes indicates the ambition to develop more personalized treatments for cancer patients.
Pfizer shifts focus to oncology with USD 43 billion Seagen acquisition
Pfizer acquired cancer-focused biotechnology firm Seagen for a notable sum of USD 43 billion, positioning itself as a formidable player in the oncology field. Emphasizing the significance of innovation in cancer treatment, the acquisition notably enhances Pfizer's oncology portfolio by incorporating Seagen's advanced antibody-drug conjugate (ADC) technology. ADCs represent a rapidly expanding segment within cancer therapeutics, renowned for their precision in targeting and eradicating cancer cells while minimizing damage to surrounding healthy tissues.
Strategy Analysis & Recommendation
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Next-Generation Cancer Diagnostics Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Next-Generation Cancer Diagnostics Market, highlighting leading vendors and their innovative profiles. These include Abbott Laboratories, Adaptive Biotechnologies Corporation, Agena Bioscience, Inc. by Mesa Laboratories, Inc., Agilent Technologies, Inc., Akadeum Life Sciences, Almac Group, Becton, Dickinson & Company, Bio-Techne Corporation, Biological Dynamics Inc., bioMérieux SA, BioNTech SE, Castle Biosciences Inc., Danaher Corporation, Exact Sciences Corporation, F. Hoffmann-La Roche Ltd., GE HealthCare, Hologic Inc., Illumina, Inc., Johnson & Johnson Services, Inc., Konica Minolta, Inc., Koninklijke Philips N.V., NeoGenomics Laboratories, Novartis AG, OPKO Health, Inc., Oxford Nanopore Technologies Limited, Perkin Elmer, Inc., Qiagen N.V., Siemens Healthineers AG, Sysmex Corporation, Telerad Tech, and Thermo Fisher Scientific, Inc..
Market Segmentation & Coverage
This research report categorizes the Next-Generation Cancer Diagnostics Market to forecast the revenues and analyze trends in each of the following sub-markets:
Technology
Clustered Regularly Interspaced Short Palindromic Repeats Diagnostics
DNA Microarrays
Lab-on-a-Chip & Reverse Transcriptase-PCR
Molecular Diagnostics
Next Generation Sequencing
Protein Microarrays
qPCR & Multiplexing
Cancer Type
Bladder Cancer
Breast Cancer
Cervical Cancer
Colorectal Cancer
Kidney Cancer
Lung Cancer
Pancreatic Cancer
Prostate Cancer
Thyroid Cancer
Uterine Cancer
Application
Cancer Screening
Companion Diagnostics
Prognostics
Risk Analysis
Therapeutic Monitoring
Function
Biomarker Development
CTC Analysis
Epigenetic Analysis
Genetic Analysis
Proteomic Analysis
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom
Please Note: PDF & Excel + Online Access - 1 Year
1. Preface
1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders
2. Research Methodology
2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update
3. Executive Summary
4. Market Overview
5. Market Insights
5.1. Market Dynamics
5.1.1. Drivers
5.1.1.1. Increasing Burden of Cancer Cases Globally and Need for Efficient Diagnostics
5.1.1.2. Growing Utilization of Microfluidic Chips in Cancer Management
5.1.1.3. Government Initiatives Towards Cancer Screening
5.1.2. Restraints
5.1.2.1. High Investment and Insufficient Standardization of Diagnostics
5.1.3. Opportunities
5.1.3.1. Proliferation of Personalized and Advanced Genome Medicine
5.1.3.2. Technological Advancements in Next-Generation Cancer Diagnostics
5.1.4. Challenges
5.1.4.1. Limitations and Risks Associated with NGC Diagnostics
5.2. Market Segmentation Analysis
5.2.1. Technology: Increasing demand across molecular diagnostics to identify mutations associated with cancer
5.2.2. Application: Deployment of diagnostic tools across therapeutic monitoring to track the effectiveness of cancer treatments
5.3. Market Trend Analysis
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter’s Five Forces Analysis
5.6.1. Threat of New Entrants
5.6.2. Threat of Substitutes
5.6.3. Bargaining Power of Customers
5.6.4. Bargaining Power of Suppliers
5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework Analysis
5.9. Client Customization
6. Next-Generation Cancer Diagnostics Market, by Technology
6.1. Introduction
6.2. Clustered Regularly Interspaced Short Palindromic Repeats Diagnostics
6.3. DNA Microarrays
6.4. Lab-on-a-Chip & Reverse Transcriptase-PCR
6.5. Molecular Diagnostics
6.6. Next Generation Sequencing
6.7. Protein Microarrays
6.8. qPCR & Multiplexing
7. Next-Generation Cancer Diagnostics Market, by Cancer Type
7.1. Introduction
7.2. Bladder Cancer
7.3. Breast Cancer
7.4. Cervical Cancer
7.5. Colorectal Cancer
7.6. Kidney Cancer
7.7. Lung Cancer
7.8. Pancreatic Cancer
7.9. Prostate Cancer
7.10. Thyroid Cancer
7.11. Uterine Cancer
8. Next-Generation Cancer Diagnostics Market, by Application
8.1. Introduction
8.2. Cancer Screening
8.3. Companion Diagnostics
8.4. Prognostics
8.5. Risk Analysis
8.6. Therapeutic Monitoring
9. Next-Generation Cancer Diagnostics Market, by Function
9.1. Introduction
9.2. Biomarker Development
9.3. CTC Analysis
9.4. Epigenetic Analysis
9.5. Genetic Analysis
9.6. Proteomic Analysis
10. Americas Next-Generation Cancer Diagnostics Market
10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States
11. Asia-Pacific Next-Generation Cancer Diagnostics Market
11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam
12. Europe, Middle East & Africa Next-Generation Cancer Diagnostics Market
12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom
13. Competitive Landscape
13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
13.3.1. Genialis to Develop Biomarker-Based Cancer Diagnostic Models
13.3.2. Thermo Fisher Scientific and Arsenal Biosciences Collaborate to Support Clinical Manufacturing of Autologous T-Cell Therapies
13.3.3. Pfizer shifts focus to oncology with USD 43 billion Seagen acquisition
13.3.4. Ibex and Alverno Laboratories Sign Multi-Year, Multi-Tissue Expansion Agreement of AI for Cancer Diagnosis
13.3.5. Swansea biotech startup raises £1.5m for AI bowel cancer blood test
13.3.6. Precision for Medicine Accelerating Precision Oncology with Next Generation Screening to Support New Cancer Diagnostics