Cancer Diagnostics Market Analysis and Forecast to 2031: By Product (Consumables, Instruments), Technology (IVD Testing, Imaging, Biopsy Technique), Application (Breast Cancer, Lung Cancer, Colorectal Cancer, Melanoma, Others), End User (Hospitals, Diagno

Cancer Diagnostics Market Analysis and Forecast to 2031: By Product (Consumables, Instruments), Technology (IVD Testing, Imaging, Biopsy Technique), Application (Breast Cancer, Lung Cancer, Colorectal Cancer, Melanoma, Others), End User (Hospitals, Diagnostic Laboratories), and Region

The global cancer diagnostics market size was USD 18.2 billion in 2021 and it is estimated to reach USD 43.7 billion by 2031, growing at a rate of 9.2% from 2022-2031.


Cancer diagnostics is a method of identifying different diagnostics, proteins, and some signs that leads to the identification of the presence of a cancerous tumor. Efficient diagnostic testing is used to validate or rule out the existence of illness, monitor the progression of the disease, and schedule & review treatment outcomes. Diagnostic procedures for cancer may comprise imaging, tumor biopsy, laboratory tests (comprises tests for tumor diagnostics), endoscopic examination, surgery, or genetic testing.

Report CoverageMarket Trends and Drivers

The key factor boosting the growth of the market is the growth in the number of private diagnostic centers. The number of private diagnostic centers is increasing across the world as there is a rising demand for diagnostic imaging procedures and a growing burden on public hospitals owing to the limited number of imaging modalities at their disposal.

Market Restraints and Challenges

The primary factor challenging the market growth is the increasing adoption of refurbished diagnostic imaging systems. Many hospitals in developing countries cannot invest in diagnostic imaging equipment due to their higher cost, poor reimbursement rates, and budgetary constraints. However, owing to the high demand for diagnostic imaging procedures in these nations, hospitals that cannot afford to invest in new imaging systems prefer to go for refurbished ones. Refurbished systems are priced lower than new systems and are approximately in the range of 40% to 60% of the original price of the equipment.


Owing to this, many market leaders are now supporting refurbished devices through various programs. For instance, Siemens’ Medical Proven Excellence Program, GE Healthcare’s Gold Seal Program, and Philips’ Diamond Select Program are some noteworthy global refurbishing programs that promote the utilization of refurbished diagnostic imaging systems.

Global Cancer Diagnostics Market Segmentation

The report analyses the cancer diagnostic market based on product, technology, application, end user, and region.

Global Cancer Diagnostics Market by Product

Based on product, it is segmented into consumables and instruments. The consumables segment is likely to dominate the market during the forecast period. The repeated purchase coupled with high consumption, and the high prevalence of diseases are the major factor boosting the growth of this segment.

Global Cancer Diagnostics Market by Technology

By technology, it is segmented into IVD testing, imaging, and biopsy technique. The IVD testing segment is likely to dominate the market in 2021. The key factors such as increasing incidences of cancers are boosting the growth of the market.

Global Cancer Diagnostics Market by Application

Based on application, it is segmented into breast cancer, lung cancer, colorectal cancer, melanoma, and others. The breast cancer segment is likely to continue its dominance during the forecast period. The key factors such as the rising prevalence of breast cancer are boosting the market growth.

Global Cancer Diagnostics Market by End User

Based on the end user, it is segmented into hospitals and diagnostic laboratories. The hospital segment is likely to acquire a major market share during the forecast period. The increasing number of patients visiting hospitals, the rising number of in-house diagnostic procedures performed in hospitals coupled with growing awareness regarding early diagnosis are the major factor boosting the growth of the market.

Geographical Analysis of Global Cancer Diagnostics Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America accounted for the largest share of the cancer diagnostics market in 2021. The large share of North America can be attributed to factors such as the rising incidence of cancer coupled with technological advancements.

Major Players in Global Cancer Diagnostics MarketCOVID-19 Analysis

With the WHO officially declaring the outbreak of COVID-19 a pandemic, a mix of established pharmaceutical and biopharmaceutical companies and small startups has stepped forward to develop treatments and vaccines that target the infection caused by the COVID-19. The COVID-19 outbreak has significantly impacted the availability of hospital resources worldwide. This has been primarily managed by dramatically reducing inpatient and outpatient services for other diseases and implementing infection prevention and control measures. The number of cancer screening and diagnostic procedures declined precipitously, with countries worldwide being affected by the COVID-19 pandemic.

Recent Developments

• November 2020, GE Healthcare entered into a partnership with Genesis Care to improve patient outcomes for the two biggest health burdens across the globe, cancer and heart diseases. GE Healthcare will provide CT, MRI, PET/CT, digital mammography, and ultrasound equipment to Genesis Care’s 440+ cancer and cardiovascular disease treatment centers across Australia, the US, the UK, and Spain.
• January 2020, Roche Diagnostics entered into a partnership with Illumina to provide broad access to clinical oncology next-generation sequencing.

Frequently Asked Questions

Q. How big is the cancer diagnostics market?Ans. The global cancer diagnostics market size was USD 18.2 Billion in 2021 and is anticipated to reach USD 43.7 Billion in 2031, growing at a rate of 9.2% from 2022 to 2031.
Q. What is the cancer diagnostics market growth rate?Ans. The growth rate of the cancer diagnostics market is XX% from 2022 to 2031.
Q. Which Ans. North America holds a major market share of the cancer diagnostics market in 2021.
Q. Which segment accounted for the largest cancer diagnostics market share?Ans. By application, the breast cancer segment accounted for the largest cancer diagnostics market share
Q. Who are the key players in the cancer diagnostics market?Ans. The global cancer diagnostics market report includes players such as GE Healthcare (US), Abbott Laboratories (US), Hologic Inc. (US), Agilent Technologies Inc.(US), Roche Diagnostics (Switzerland), FUJIFILM Corporation (Japan), Danaher Corporation (US), DiaSorin S.P.A. (Italy), Myriad Genetics Inc. (US), Siemens Healthineers AG (Germany), BD (US), bioMérieux SA (France), Bio-Rad Laboratories (US), Cancer Diagnostics Inc. (US), Vela Diagnostics (Singapore), Roche Diagnostics (Switzerland), AMOY Diagnostics CO. LTD. (China), Quidel Corporation (US), Bio SB (US), Biocartis NV (Belgium), Exact Science (US).
Q. What are the factors driving the cancer diagnostics market growth?Ans. The major factors driving the growth of the market are the increasing incidences of cancer.
Q. What are the key growth strategies of cancer diagnostics market players?Ans. The key growth strategies of cancer diagnostics market players are product launch and product approval.
Q. Which Ans. The Asia-Pacific region will provide more business opportunities for the cancer diagnostics market during the forecast period.

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