Home > Healthcare & Medical Devices > Cancer Diagnostics Market

Cancer Diagnostics Market Size By Application (Tumor Biomarkers Tests, Imaging {Ultrasound and Radiology, Mammography, MRI Scan, PET Scan, CT Scan, SPECT & Others}, Biopsy, Liquid Biopsy, Immunohistochemistry, In Situ Hybridization), By Cancer Type (Bladder Cancer, Breast Cancer, Colon and Rectal Cancer, Endometrial Cancer, Kidney Cancer, Leukemia, Liver-Lung Cancer, Melanoma, Non-Hodgkin Lymphoma, Pancreatic Cancer, Prostate Cancer, Thyroid Cancer), By End-use (Hospitals, Diagnostic Laboratories, Diagnostic Imaging Centers, Cancer Research Institutes), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027

  • Report ID: GMI2406
  • Published Date: Nov 2021
  • Report Format: PDF

Industry Trends

Cancer Diagnostics Market size exceeded USD 116.5 billion in 2020 and is anticipated to grow at a CAGR of over 8.6% between 2021 and 2027. Increasing adoption of sedentary lifestyle involving relatively lesser amount of physical exercise has escalated the incidence of cancer cases globally.
 

Cancer Diagnostics Market Overview

Get more details on this report - Request Free Sample PDF
 

COVID-19 pandemic has negatively impacted the cancer care programs or cancer market in many countries. Moreover, the R&D programs involving product development and clinical trials focusing on cancer diagnostics were also hampered with the onset of COVID-19 pandemic. As medical device manufacturers and other stakeholders in the supply chain laid significant emphasis on the development and production of COVID-19 related goods and ancillaries.
 

Favorable government initiatives to create cancer awareness to spur the market growth

Numerous efforts are undertaken by private organizations and public authorities to create awareness surrounding cancer. For instance, in 2019, the Government of India launched a cancer campaign to remove the stigma surrounding cancer.
 

High cost associated diagnostic imaging system may slow down the market expansion

The increasing demand for cancer diagnostic tests coupled with technological advancements with faster results and accuracy has escalated the price associated with imaging cancer diagnostics. The usage of imaging diagnostics has grown exponentially over the last decade in the industry. However, in several countries it is observed that several cancer diagnostic services are not fully covered by insurance.
 

Imaging technique plays a crucial role in cancer diagnosis

The imaging segment dominated more than 65% of the cancer diagnostics market share in 2020. Detecting cancer with an imaging test helps the healthcare professionals in deciding the course of treatment for the patient. With the increasing cancer prevalence, demand for imaging modalities is rapidly growing in the global market.
 

To meet the growing demand, new technologies and techniques are commercialized by market players, intensifying the existing competition. Furthermore, technological advancements largely contribute to the industry growth by boosting its acceptance rates.
 

Increasing incidence of breast cancer globally

Cancer Diagnostics Market Size

Get more details on this report - Request Free Sample PDF
 

Breast cancer segment was valued at USD 21.7 billion in 2020. The upsurge in breast cancer cases are increasingly due to gene mutation. It is estimated that nearly 5% to 10% of breast cancer cases reported globally are inherited. Additionally, unhealthy lifestyle, obesity and reduced childbearing can be directly linked with breast cancer incidence, as it increases estrogen levels in the female body.
 

Rising number of hospital admissions for cancer diagnosis and treatment will enhance the segment growth

The hospital segment captured 41% of revenue share in 2020. Hospitals represent a high adoption rate for expensive and advanced imaging modalities alongside other diagnostic devices.
 

Relatively better acceptance trends and presence of key companies will fuel the growth of North America region

Global Cancer Diagnostics Market

Get more details on this report - Request Free Sample PDF
 

North America cancer diagnostics market accounted for 42% of revenue share in 2020. Technological advancements in diagnostic tests, increasing healthcare expenditure and higher patient awareness regarding early cancer diagnosis are some of the prime factors contributing to increasing diagnostics uptake in the region.
 

Moreover, rising tobacco and alcohol consumption as well as suboptimal lifestyle standards lead to the incidence of various types of cancer. Furthermore, the strong foothold of key companies in the region coupled with favorable R&D initiatives will favor the industry expansion.
 

Organic growth strategies pave growth opportunities for leaders operating in the market

Prominent players operating in the market include Abbott, Becton, Dickinson and Company, Biocartis, Siemens Healthineers, GE Healthcare, Janssen Diagnostic LLC and Sysmex Corporation. Product launch & approval, geographical expansion, partnership, and collaborations are the most commonly adopted business strategies to sustain market competition and position.
 

The market research report of cancer diagnostics includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027, for the following segments:

Market, By Product

  • Tumor biomarkers tests
  • Imaging
    • Ultrasound and radiology
    • Mammography
    • MRI scan
    • PET scan
    • CT scan
    • SPECT & others
  • Biopsy
  • Liquid biopsy
  • Immunohistochemistry
  • In situ hybridization

Market, By Cancer type

  • Bladder cancer
  • Breast cancer
  • Colon and rectal cancer
  • Endometrial cancer
  • Kidney cancer
  • Leukemia
  • Liver-lung cancer
  • Melanoma
  • Non-Hodgkin lymphoma
  • Pancreatic cancer
  • Prostate cancer
  • Thyroid cancer
  • Others

By End-use

  • Hospitals
  • Diagnostic laboratories
  • Diagnostic imaging centers
  • Cancer research institutes

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE

 

Authors: Sumant Ugalmugle, Rupali Swain

Frequently Asked Questions (FAQ) :

Market size of cancer diagnostics reached USD 116.5 billion in 2020 and could expand at about 8.6% CAGR up to 2027 led by poor lifestyle choices and the rising burden of cancer globally.

Imaging segment held over 65% of revenue share in 2020 as it helps physicians decide the best course of treatment for the patient.

Breast cancer segment was valued at USD 21.7 billion in 2020 owing to the rising breast cancer cases globally caused by gene mutation.

North America held more than 42% of market share in 2020 and will grow substantially led by continuous technological advances and increasing healthcare expenditure.

Buy Now

Access to only 1 person; cannot be shared; cannot be printed
Access for 2 to 5 users only within same department of one company
Access to a company wide audience; includes subsidiary companies or other companies within a group of companies

Premium Report Details

  • Base Year: 2020
  • Companies covered: 19
  • Tables & Figures: 280
  • Countries covered: 18
  • Pages: 254

Get a report that explains COVID-19 impact on this market

 Request Free Sample

Budget constraints? Get in touch with us for special pricing

Request Discount