Cancer Diagnostics Market Report Scope & Overview:

The Cancer Diagnostics Market Size was valued at USD 114.6 billion in 2023 and is expected to reach USD 185.4 billion by 2031, and grow at a CAGR of 6.2% over the forecast period 2024-2031.

The growing incidence of cancer, technological progress in diagnostics and the increasing initiatives taken by businesses and public bodies are behind this industry's growth. In addition, market growth is expected to be driven by an increased focus on the development of new imaging solutions that can provide greater accuracy and precision diagnosis over the forecast period. For instance, in September 2022, Radiopharm Theranostics entered into collaboration with The University of Texas MD Anderson Cancer Center for the launch of Radiopharm Ventures, LLC involved in the development of novel radiopharmaceutical products.

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  • Greater accuracy in diagnosis of cancer

  • Growth in the number of private diagnostic facilities

The increasing demand for diagnostic imaging procedures and the growing burden on public hospitals due to the limited number of imaging modalities at their disposal, the number of private diagnostic centres is increasing worldwide. In January 2021, FUJIFILM Corporation opened NURA, a medical screening center focusing on cancer screening in Bangalore, India. This medical screening center is operated by FUJIFILM DKH LLP (FUJIFILM DKH) and Dr. Kutty’s Healthcare (DKH). FUJIFILM DKH LLP FUJIFILM DKH LLP is a joint venture between FUJIFILM and Dr. Kuttys Healthcare, which operates hospitals and screening centres in India and the Middle East.


  • There is a lack of reimbursement policies in the underdeveloped countries

  • The costs of diagnostic imaging are enormous

High costs and budgetary constraints make it difficult to invest in diagnostic imaging equipment at a large number of hospitals in underdeveloped and emerging countries. Hospitals in these countries, which do not have the financial means to purchase new or advanced diagnostic imaging equipment, nevertheless prefer refurbished systems because of growing demand for this service. Consequently, market growth is being held back by this factor.


  • There are new diagnostic biomarkers being introduced

  • Recommendations for cancer screening

In an attempt to detect cancer in the early stages and bring down the mortality rate, governments in developed countries and primary care doctors are recommending cancer screening tests for patients. The US Preventive Services Task Force (USPSTF) recommends screening for colorectal cancer starting at 50 years of age to 75 years of age in the US as a means of preventing disease incidence and ensuring early-stage treatment. In addition, Canadian guidelines on biennial screening of colorectal cancer were introduced for people between the ages of 50 and 74.


  • Increasing the use of refurbished diagnostic imaging systems

Due to their high costs, low reimbursement rates and budget constraints, many hospitals in developing countries are unable to invest in diagnostics equipment. Nevertheless, hospitals which are unable to invest in new imaging equipment tend to choose refurbished ones because of the increasing demand for diagnostic imaging services in these countries. Refurbished equipment costs about 40.0 to 60.0% less than new equipment and is approximately the same price as its original cost.

Impact of Russia-Ukraine War

The effects of waron cancer care underscore the fragmentation stemming from humanitarian aid's inability to address all requirements and the overwhelming strain placed on countries receiving refugees. The onset of war did not catch regulatory agencies off guard, even amidst the recent pandemic, enabling them to adapt follow-up procedures more flexibly. Specifically, efforts were made to relocate patients within Europe whenever feasible, with a focus on maintaining high-quality information standards. Numerous refugees are actively pursuing medical treatment abroad, with patient organizations throughout the continent collaborating with Ukrainian patients to facilitate their transfer to cancer centers across Europe for necessary care. Individuals facing intricate cancer cases, such as pediatric cancer, are being relocated from the country. Additionally, considerable ongoing endeavors are directed towards bolstering the operational capacity of Ukrainian cancer centers that remain functional. Given the distinctive challenges posed by cancer in this context, the World Health Organization, European Commission, and other stakeholders have convened task forces to address the multifaceted and intricate aspects of cancer care management.

Impact of Economic Slowdown

The financial repercussions of cancer on individuals and their families or caregivers transcend borders. Despite advancements in cancer diagnosis and treatment, which have led to better survival rates, these innovations come with significant financial implications for healthcare systems and patients, as well as their families or caregivers. Disparities in healthcare systems, such as whether they are publicly or privately funded, and social support programs, including provisions for unemployment compensation during sick leave, can influence the nature and extent of the economic impact. It's widely acknowledged that even within universal healthcare systems, cancer patients and their families or caregivers may still encounter substantial financial burdens.

A recent examination revealed that within publicly funded healthcare systems, cancer patients and their families or caregivers face out-of-pocket (OOP) expenses ranging from $17 to $506 per month, with income losses spanning from 17.6% to 67.3%. Conversely, in the United States, where private healthcare systems prevail, cancer survivors were observed to endure financial strain, including OOP costs, income reduction, and missed workdays. Nearly half of these survivors reported experiencing financial distress. Another recent analysis, focusing on OOP costs, indicated that cancer patients and their caregivers in the USA allocate a larger portion of their income towards OOP expenses compared to individuals in high-development index countries with publicly funded healthcare.

Market Segmentation

By Product

  • Instruments

    • Pathology-based Instruments

      • Slide Staining Systems

      • Tissue Processing Systems

      • Cell Processors

      • PCR Instruments

      • NGS Instruments

      • Microarrays

      • Other Pathology-based Instruments

    • Imaging Instruments

    • Others

  • Consumables

    • Antibodies

    • Kits & reagents

    • Probes

    • Others

  • Services

In 2023, consumables accounted for 60.0% of the market share and are expected to grow at a faster pace in the coming years. Diagnostic medicine would be greatly improved by the development of imaging diagnostic techniques or effective monoclonal antibody-based assays for detecting antigens and small chemicals produced by malignant cells. Although the use of mAb technology has been in its infancy, new techniques for recombinant antigen synthesis and antibody production have increased their diagnostic potential significantly.

By Type

  • IVD

    • By Type

      • Diagnosis

      • Early Detection

      • Therapy Selection

      • Monitoring

    • By Technology

      • Polymerase Chain Reaction (PCR)

      • In Situ Hybridization (ISH)

      • Immunohistochemistry (IHC)

      • Next-generation Sequencing (NGS)

      • Microarrays

      • Flow Cytometry

      • Immunoassays

      • Other IVD Testing Technologies

  • LDT

  • Imaging

    • Magnetic Resonance Imaging (MRI)

    • Computed Tomography (CT)

    • Positron Emission Tomography (PET)

    • Mammography

    • Ultrasound

    • Others

In 2023, the in vitro diagnostics (IVD) segment claimed the majority share comprising 52.8%, primarily driven by the growing uptake of IVD technologies attributed to increased testing during the COVID-19 pandemic. The advancement of automated IVD systems tailored for hospitals and laboratories, providing precise, streamlined, and reliable diagnostic solutions, is anticipated to drive further expansion of the market.

By Test Type

  • Biopsy

  • Fine-needle Aspiration

  • Core Biopsy

  • Surgical Biopsy

  • Skin Biopsy /Punch Biopsy

  • Others

  • Others

By Application

  • Breast Cancer

  • Colorectal Cancer

  • Cervical Cancer

  • Lung Cancer

  • Prostate Cancer

  • Skin Cancer

  • Blood Cancer

  • Kidney Cancer

  • Liver Cancer

  • Pancreatic Cancer

  • Ovarian Cancer

  • Others

By End-Use

  • Hospitals

  • Laboratories

  • Others

In 2023, the laboratories had a largest market share of 51.9%. Increased testing and the availability of resources to carry out tests are expected to lead to significant growth in diagnostic laboratories over the forecast period. Hospitals are increasingly relying on diagnostic laboratories for testing and evaluation, which is leading to increased growth. One of the main factors expected to contribute to segment growth is increased awareness about personalised medicine, technical progress and an increase in demand for low-cost services.

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Regional Analysis:

The market was dominated by North America with a revenue share of 40.5% in 2023. Growing cancer burden in the U.S. and Canada, as well as increasing focus of medical device companies on developing novel diagnostic devices that can detect cancer, are positively impacting market growth. In addition, key factors influencing market growth are the introduction of new products. For example, Nanostics Inc. announced the initiation of a clinical study for Bladder cancer in July 2022, aiming to identify the most effective disease indicators so as to be able to detect it earlier. The objective of this study is to identify a simple, minimally invasive liquid biopsy test for the diagnosis of bladder cancer using Nanostics Clarity DX.

The Asia Pacific market is projected to grow at an accelerated CAGR during the forecast period. Due to a number of factors, such as increased healthcare reforms, A key factor driving market growth is the increasing prevalence of cancer. For instance, China has a higher incidence according to the March 2022 report from PubMed Central. It was predicted that there would be approximately 4.8 million new cases in China by 2022, with lung cancer being the most common. As a result, market growth will be driven by the high incidence of cancer in this country. The regional market in the Asia Pacific region is becoming increasingly dominated by key foreign players, contributing to an overall increase of industry growth. A favourable regulatory and financial support is available from the governments of Taiwan and Singapore.


North America

  • US

  • Canada

  • Mexico


  • Eastern Europe

    • Poland

    • Romania

    • Hungary

    • Turkey

    • Rest of Eastern Europe

  • Western Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Netherlands

    • Switzerland

    • Austria

    • Rest of Western Europe

Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Vietnam

  • Singapore

  • Australia

  • Rest of Asia Pacific

Middle East & Africa

  • Middle East

    • UAE

    • Egypt

    • Saudi Arabia

    • Qatar

    • Rest of the Middle East

  • Africa

    • Nigeria

    • South Africa

    • Rest of Africa

Latin America

  • Brazil

  • Argentina

  • Colombia

  • Rest of Latin America


Some of the major key players are as follows Abbott Laboratories, Inc., Arquer Diagnostics Ltd, Exact Sciences Corporation, Biotheranostics, Cancer Diagnostics, Inc., Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., BioMark Diagnostics Inc, Illumina, Inc., Becton, Dickinson and Company (BD), GE Healthcare, and other players.

Biotheranostics-Company Financial Analysis

Company Landscape Analysis

Recent Developments:

  • In February 2023, F. Hoffmann La Roche announced that by focusing on companion diagnostics, it will expand its collaboration with Janssen in order to improve personalised healthcare.

  • In April 2023, to increase patients' outcomes through early detection of MRD after treatment, Quest Diagnostics entered into an all-cash agreement with Haystack Oncology for the expansion of testing services related to MRD originally focused on colon, breast, and lung cancers.

  • In June 2023, The FDA has granted approval to Blue Earth Diagnostics for POSLUMA, a high-affinity radio hybrid (rh) Prostate-Specific Membrane Antigen (PSMA)-targeted PET imaging agent, designed for detecting and localizing prostate cancer. Leveraging innovative radio hybrid technology, POSLUMA offers precise imaging capabilities along with promising prospects for therapeutic use in prostate cancer management.

Cancer Diagnostics Market Report Scope:
Report Attributes Details
Market Size in 2023 US$ 114.6 Billion
Market Size by 2031 US$ 185.4 Billion
CAGR CAGR of 6.2% From 2024 to 2031
Base Year 2023
Forecast Period 2024-2031
Historical Data 2020-2022
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Product (Instruments, Consumables, Services)
• By Type (IVD, LDT, Imaging)
• By Test Type (Biopsy, Others)
• By Application (Breast Cancer, Colorectal Cancer, Cervical Cancer, Lung Cancer, Prostate Cancer, Skin Cancer, Blood Cancer, Kidney Cancer, Liver Cancer, Pancreatic Cancer, Ovarian Cancer, Others)
• By End-use (Hospitals, Laboratories, Others)
Regional Analysis/Coverage North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America)
Company Profiles Abbott Laboratories, Inc., Arquer Diagnostics Ltd, Exact Sciences Corporation, Biotheranostics, Cancer Diagnostics, Inc., Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., BioMark Diagnostics Inc, Illumina, Inc., Becton, Dickinson and Company (BD), GE Healthcare, and other players.
DRIVERS • The number of privately owned diagnostic centers is increasing.
• Cancer rates are increasing.
• Greater Ease in Diagnosing Cancer
OPPORTUNITIES • High cost of treatment
• Underdeveloped countries have insufficient reimbursement policies.
• In Emerging Markets, it's only used sporadically.

Frequently Asked Questions

Ans: The cancer diagnostics market was valued at USD 114.6 billion in 2023.

Cancer rates are increasing, and Greater Ease in Diagnosing Cancer are the drivers of Cancer Diagnostics market.

The Americas dominated the cancer diagnostics market, thanks to the region's growing older population, increased healthcare spending, and well-established healthcare industry.

Consumables and instruments make up the cancer diagnostics industry. During the forecast period, the consumables category is expected to increase the most.

Ans: The Cancer Diagnostics Market is to grow at a CAGR of 6.2% over the forecast period 2024-2031


1. Introduction
1.1 Market Definition 
1.2 Scope
1.3 Research Assumptions

2. Industry Flowchart

3. Research Methodology

4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges

5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India

6. Value Chain Analysis 

7. Porter’s 5 Forces Model

8.  Pest Analysis

9. Cancer Diagnostics Market, By Product
9.1 Introduction
9.2 Trend Analysis
9.3 Instruments
9.3.1 Pathology-based Instruments Slide Staining Systems Tissue Processing Systems Cell Processors PCR Instruments NGS Instruments Microarrays Other Pathology-based Instruments
9.3.2 Imaging Instruments
9.3.3 Others
9.4 Consumables
9.4.1 Antibodies
9.4.2 Kits & reagents
9.4.3 Probes
9.4.4 Others
9.5 Services

10. Cancer Diagnostics Market, by Type Introduction
10.1 Introduction
10.2 Trend Analysis
10.3 IVD
10.3.1 By Type Diagnosis Early Detection Therapy Selection Monitoring
10.4.1 By Technology Polymerase Chain Reaction (PCR) In Situ Hybridization (ISH) Immunohistochemistry (IHC) Next-generation Sequencing (NGS) Microarrays Flow Cytometry Immunoassays Other IVD Testing Technologies
10.5 LDT
10.6 Imaging
10.6.1 Magnetic Resonance Imaging (MRI)
10.6.2 Computed Tomography (CT)
10.6.3 Positron Emission Tomography (PET)
10.6.4 Mammography
10.6.5 Ultrasound
10.6.6 Others

11. Cancer Diagnostics Market, by Test Type
11.1 Introduction
11.2 Trend Analysis
11.3 Biopsy
11.3.1 Fine-needle Aspiration
11.3.2 Core Biopsy
11.3.3 Surgical Biopsy
11.3.4 Skin Biopsy /Punch Biopsy
11.3.5 Others
11.4 Others

12. Cancer Diagnostics Market, by Application
12.1 Introduction
12.2 Trend Analysis
12.3 Breast Cancer
12.4 Colorectal Cancer
12.5 Cervical Cancer
12.6 Lung Cancer
12.7 Prostate Cancer
12.8 Skin Cancer
12.9 Blood Cancer
12.10 Kidney Cancer
12.11 Liver Cancer
12.12 Pancreatic Cancer
12.13 Ovarian Cancer
12.14 Others

13. Cancer Diagnostics Market, by End-use
13.1 Introduction
13.2 Trend Analysis
13.3 Hospitals
13.4 Laboratories
13.5 Others

14. Regional Analysis
14.1 Introduction
14.2 North America
14.2.1 USA
14.2.2 Canada
14.2.3 Mexico
14.3 Europe
14.3.1 Eastern Europe Poland Romania Hungary Turkey Rest of Eastern Europe
14.3.2 Western Europe Germany France UK Italy Spain Netherlands Switzerland Austria Rest of Western Europe
14.4 Asia-Pacific
14.4.1 China
14.4.2 India
14.4.3 Japan
14.4.4 South Korea
14.4.5 Vietnam
14.4.6 Singapore
14.4.7 Australia
14.4.8 Rest of Asia Pacific
14.5 The Middle East & Africa
14.5.1 Middle East UAE Egypt Saudi Arabia Qatar Rest of the Middle East
14.5.2 Africa Nigeria South Africa Rest of Africa
14.6 Latin America
14.6.1 Brazil
14.6.2 Argentina
14.6.3 Colombia
14.6.4 Rest of Latin America

15. Company Profiles
15.1 Abbott Laboratories, Inc.
15.1.1 Company Overview
15.1.2 Financial
15.1.3 Products/ Services Offered
15.1.4 SWOT Analysis
15.1.5 The SNS View
15.2 Arquer Diagnostics Ltd
15.2.1 Company Overview
15.2.2 Financial
15.2.3 Products/ Services Offered
15.2.4 SWOT Analysis
15.2.5 The SNS View
15.3 Exact Sciences Corporation
15.3.1 Company Overview
15.3.2 Financial
15.3.3 Products/ Services Offered
15.3.4 SWOT Analysis
15.3.5 The SNS View
15.4 Biotheranostics
15.4.1 Company Overview
15.4.2 Financial
15.4.3 Products/ Services Offered
15.4.4 SWOT Analysis
15.4.5 The SNS View
15.5 Cancer Diagnostics, Inc.
15.5.1 Company Overview
15.5.2 Financial
15.5.3 Products/ Services Offered
15.5.4 SWOT Analysis
15.5.5 The SNS View
15.6 Thermo Fisher Scientific, Inc.
15.6.1 Company Overview
15.6.2 Financial
15.6.3 Products/ Services Offered
15.6.4 SWOT Analysis
15.6.5 The SNS View
15.7 Agilent Technologies, Inc.
15.7.1 Company Overview
15.7.2 Financial
15.7.3 Products/ Services Offered
15.7.4 SWOT Analysis
15.7.5 The SNS View
15.8 BioMark Diagnostics Inc
15.8.1 Company Overview
15.8.2 Financial
15.8.3 Products/ Services Offered
15.8.4 SWOT Analysis
15.8.5 The SNS View
15.9 Illumina, Inc.
15.9.1 Company Overview
15.9.2 Financial
15.9.3 Products/ Services Offered
15.9.4 SWOT Analysis
15.9.5 The SNS View
15.10 Becton, Dickinson and Company (BD)
15.10.1 Company Overview
15.10.2 Financial
15.10.3 Products/ Services Offered
15.10.4 SWOT Analysis
15.10.5 The SNS View
15.11 GE Healthcare
15.11.1 Company Overview
15.11.2 Financial
15.11.3 Products/ Services Offered
15.11.4 SWOT Analysis
15.11.5 The SNS View

16. Competitive Landscape
16.1 Competitive Benchmarking
16.2 Market Share Analysis
16.3 Recent Developments 
16.3.1 Industry News
16.3.2 Company News
16.3.3 Mergers & Acquisitions

17. Use Case and Best Practices

18. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

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This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

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Data Bank Validation

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