Cancer Diagnostics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Cancer Diagnostics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global cancer diagnostics market size reached US$ 186.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 266.4 Billion by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028.

Cancer diagnostics represent a range of assessments and procedures executed using sophisticated technologies to identify biomarkers, proteins, tumor type, location, and signs about the stage and presence of various cancerous tumors. They encompass imaging, tumor biopsy, laboratory tests, immunohistochemistry genetic testing, and endoscopic examination as standard assessments. These diagnostics methodologies are performed based on the patient condition and severity of disorders. Apart from this, cancer diagnostics help healthcare practitioners in developing a personalized treatment plan, evaluating specific antigens in a sample tissue by using antibodies, and providing better clinical outcomes through early diagnosis and care. As a result, they are widely adopted in hospitals and laboratories to examine breast, lung, melanoma, and colorectal cancer. Currently, they are mainly available in fluorescent in situ and comparative genomic hybridization technologies.

Cancer Diagnostics Market Trends:

The increasing prevalence of cancer, owing to the rising consumption of alcoholic beverages and tobacco-based products, and the growing need for preventive, diagnostic technologies for better therapeutic effects are majorly driving the market growth. In line with this, significant enhancements in the healthcare sector and the advent of advanced oncological imaging modalities and imaging technologies to detect infections with enhanced accuracy are acting as another growth-inducing factor. Additionally, extensive investments by pharmaceutical companies to engineer cancer vaccines and novel biomarkers for the identification of potential tumor is contributing to the market growth. Moreover, the favorable initiatives being undertaken by non-governmental organizations (NGOs) and healthcare practitioners to sensitize individuals regarding the availability and benefits of early cancer diagnosis, such as instant decision-making and consequent treatment, are propelling the market growth. Other factors, such as the rapid establishment of private diagnostic centers and ongoing research and development (R&D) activities to design effective product variants with reduced treatment, hospitalization, and unavoidable intervention costs, are positively augmenting the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global cancer diagnostics market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, technology, application and end user.

Breakup by Product:

Consumables
Antibodies
Kits and Reagents
Probes
Others
Instru
Pathology-based Instruments
Imaging Instruments
Biopsy Instruments

Breakup by Technology:

IVD Testing
Polymerase Chain Reaction (PCR)
In Situ Hybridization (ISH)
Immunohistochemistry (IHC)
Next-generation Sequencing (NGS)
Microarrays
Flow Cytometry
Immunoassays
Others
Imaging
Magnetic Resonance Imaging (MRI)
Computed Tomography (CT)
Positron Emission Tomography (PET)
Mammography
Ultrasound
Biopsy Technique

Breakup by Application:

Breast Cancer
Lung Cancer
Colorectal Cancer
Melanoma
Others

Breakup by End User:

Hospitals and Clinics
Diagnostic Laboratories
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Abbott Laboratories, Agilent Technologies Inc., Becton Dickinson and Company, Bio-Rad Laboratories Inc., F. Hoffmann-La Roche AG (Roche Holding AG), GE HealthCare (General Electric Company), Hologic Inc., Illumina Inc., Koninklijke Philips N.V., Pfizer Inc., Qiagen N.V, Quest Diagnostics, Siemens Healthineers AG (Siemens AG) and Thermo Fisher Scientific Inc.

Key Questions Answered in This Report:

How has the global cancer diagnostics market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global cancer diagnostics market?
What are the key regional markets?
What is the breakup of the market based on the product?
What is the breakup of the market based on the technology?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global cancer diagnostics market and who are the key players?
What is the degree of competition in the industry?