Report Scope & Overview:
Cancer Diagnostics Market Size was valued at USD 193.31 billion in 2022, and expected to reach USD 334.64 billion by 2030, and grow at a CAGR of 7.1% over the forecast period 2023-2030.
Cancer is one of the most common causes of mortality worldwide, and its incidence has been gradually rising. Cancer is the leading cause of mortality worldwide, according to the World Health Organization (WHO), with an estimated 10 million deaths projected by 2021. To established the incidence rate, healthcare practitioners are focusing their actions and efforts on the growth and development of appropriate treatment and diagnostic solutions. Treatment recommendations and practices for early screening have a larger likelihood of success. As a result, cancer detection companies and hospitals are promoting daily exams through various public awareness initiatives.
The rising occurrence of malignancies and tumor’s has necessitated the development of new and innovative cancer detection and diagnostic technology. The worldwide cancer diagnostics market is predicted to grow rapidly over the projected period. New technology is being used to diagnose malignancies like lung cancer, breast cancer, and colon cancer. Furthermore, liquid biopsy has the potential to improve patients' therapy outcomes. Furthermore, the cancer diagnostics market is expected to rise throughout the projected period as scanning and imaging technologies develop for early-stage cancer treatment.
The number of privately owned diagnostic centers is increasing.
Cancer rates are increasing.
Greater Ease in Diagnosing Cancer
High cost of treatment
Underdeveloped countries have insufficient reimbursement policies.
In Emerging Markets, it's only used sporadically.
Suggestions for malignant growth screening
New diagnostic biomarkers are being introduced.
Refurbished diagnostic imaging devices are being used more frequently.
An increase in the usage of reconstructed diagnostic imaging
IMPACT OF COVID-19
With the World Health Organization (WHO) labelling the COVID-19 outbreak a pandemic, a number of existing pharmaceutical and biopharmaceutical companies, as well as tiny startups, have moved up to produce treatments and antibodies to battle the contamination brought about by the novel Covid. The COVID-19 outbreak has had a substantial impact on hospital resources around the world. This has largely been accomplished by drastically lowering inpatient and outpatient services for other diseases, as well as instituting infection prevention and control methods. The quantity of malignant growth screening and demonstrative medicines has dropped decisively, with the pandemic influencing nations everywhere
Consumables and instruments make up the cancer diagnostics industry. During the forecast period, the consumables category is expected to increase the most. The increasing prevalence of ailments, as well as recurring purchases and high consumption, are the main drivers driving this segment's growth.
The cancer diagnostics market is divided into three categories: IVD testing, imaging-based diagnostics, and biopsy techniques. In 2020, the IVD testing portion held the best piece of the pie. The rising event of illness is obligated for a huge piece of this market.
With the largest market share in 2021, the breast cancer sector dominated the worldwide cancer diagnostics market. Breast cancer is on the rise, and it is the main cause of death in women on a wide scale. In 2021, 24 million women worldwide will be diagnosed with breast cancer, with 685,000 deaths.
By End User:
Hospitals and diagnostic laboratories make up the cancer diagnostics market. In 2021, the hospitals sector held the greatest share of the cancer diagnostics market. The expanding number of patients visiting hospitals, the rising number of in-house diagnostic procedures performed in hospitals, and increased awareness about early diagnosis are all driving forces in this industry.
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., Agilent Technologies, Inc., Becton, Dickinson and Company (BD), GE Healthcare, and other players.
Kits & Reagents
Slide Staining Systems
Tissue Processing Systems
Other Pathology-based Instruments
CT Systems Ultrasound Systems
Nuclear Imaging Systems
Polymerase Chain Reaction (PCR)
In Situ Hybridization (ISH)
Next-generation Sequencing (NGS)
Other IVD Testing Technologies
Magnetic Resonance Imaging (MRI)
Positron Emission Tomography (PET)
Computed Tomography (CT)
By End User
The Americas dominated the cancer diagnostics market, thanks to the region's growing older population, increased healthcare spending, and well-established healthcare industry. Cancer has been most usually discovered in geriatric persons (55 years or older), according to research published by the American Cancer Society, and cancer impacts over 80% of the population in the United States. The cancer diagnostics market in Europe was the second-largest in the world. Because of expanding cancer awareness, advanced technologies in the region, and the growing demand for better treatment for cancer and diagnostics, the regional market is expected to grow. Germany had the largest proportion of the European cancer diagnostics market. According to the World Cancer Research Fund International, the greatest cancer rates were seen in Oceania, Europe, and North America in 2018.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2022||US$ 193.31 Billion|
|Market Size by 2030||US$ 291.8 Billion|
|CAGR||CAGR of 7.1% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Product (Consumables, Instruments, Biopsy Instruments)
• By Technology (IVD Testing, Imaging, Biopsy Technique)
• By Application (Breast Cancer, Melanoma, Lung Cancer, Colorectal Cancer, Other Cancers)
• By End User (Diagnostic Laboratories, Hospitals)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, 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., Agilent Technologies, 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.
High cost of treatment, and Underdeveloped countries have insufficient reimbursement policies are the restraint of Cancer Diagnostics market.
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.
Cancer Diagnostics Market Size was valued at USD 180.5 billion in 2021
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
220.127.116.11 United Kingdom
18.104.22.168 South Korea
22.214.171.124 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Cancer Diagnostics Market Segmentation, By Product
8.1.3Kits & Reagents
8.2 Imaging Instruments
8.2.1 Pathology-based Instruments
8.3 Biopsy Instruments
9. Cancer Diagnostics Market Segmentation, By Technology
9.1 IVD Testing
9.3 Biopsy Technique
10. Cancer Diagnostics Market Segmentation, By Application
10.1 Breast Cancer
10.3 Lung Cancer
10.4 Colorectal Cancer
10.5 Other Cancers
11. Cancer Diagnostics Market Segmentation, By End User
11.1 Diagnostic Laboratories
12. Regional Analysis
12.2 North America
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4.2 South Korea
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.3 South Africa
12.6 Latin America
12.6.3 Rest of Latin America
13 Company Profiles
13.1 Abbott Laboratories
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Arquer Diagnostics Ltd
13.3 Exact Sciences Corporation
13.5 Cancer Diagnostics, Inc.
13.6 Thermo Fisher Scientific, Inc.
13.7 Agilent Technologies, Inc.
13.8 BioMark Diagnostics Inc
13.9 Illumina, Inc.
13.10 Agilent Technologies, Inc.
13.11Becton, Dickinson and Company (BD)
13.13 GE Healthcare
14 Competitive Landscape
14.1 Competitive Benchmark
14.2 Market Share analysis
14.3 Recent Developments
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.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
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.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
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.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Smart Mirror Market size was valued at USD 518.4 billion in 2022 and is expected to reach at USD 1025.3 billion in 2030, grow at a CAGR of 8.9% over the forecast period of 2023-2030.
Hi! Click one of our member below to chat on Phone