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), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026

Published Date: Sep 2020  |  Report ID: GMI2406  |  Authors: Sumant Ugalmugle, Rupali Swain

Report Format: PDF   |   Pages: 244   |   Base Year: 2019

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Cancer Diagnostics Market size valued at over USD 104.8 billion in 2019 and is expected to grow at 8.5% CAGR between 2020 and 2026.

Growing adoption of unhealthy diet including excessive fat and sugar content coupled with reduction in physical exercise has escalated number of people suffering from diabetes and cancer. According to the WHO, cancer is the second leading cause of death worldwide, accounting over 9.6 million deaths in 2018. Such number has led to increase in adoption of cancer diagnostics.


Cancer Diagnostics Market

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The outbreak of COVID-19 pandemic has disrupted the spectrum of cancer care, as screening program and services have been suspended or decreased in many countries. For instance, in U.S., the center for Medicare & Medicaid Services (CMS) have classified screening and cancer care services as a low-priority services. Thus, the unprecedented effect of COVID-19 is expected to have some impact on cancer outcomes. However, market players focusing on R&D investments will lead to innovations in cancer treatment and diagnosis.

Cancer Diagnostics Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 104.9 Billion
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 8.5% 2026 Value Projection: USD 184.7 billion
Pages: 244 Tables, Charts & Figures: 273
Geographies covered (17): U.S., Canada, Germany, UK, France, Italy, Russia, China, Japan, India, Australia, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE
Segments covered: Application, Cancer Type, End-use and Region
Companies covered (19): Abbott, AB Sciex Pte. Ltd, Agilent Technologies Inc, Becton, Dickinson and Company, Biocare Medical LLC, Biocartis, BioMerieux SA, Bio-Rad Laboratories, Cancer Genetics, GE Healthcare, Hologic, Janssen Diagnostics LLC (Johnson & Johnson), Leica Biosystem Nussloch GmbH (Danaher Corporation), Myriad Genetics. Inc, Qiagen N.V., F-Hoffmann-La Roche Ltd, Siemens Healthineers, Sysmex Corporation, Thermo Fischer Scientific
Growth Drivers:
  • Rising incidence of cancer globally
  • Several initiatives undertaken by government and other organizations to spread disease awareness
  • Growing number of diagnostic laboratories in developing countries
  • Technological advancement in developed countries
Pitfalls & Challenges:
  • High capital investment coupled with high cost associated with diagnostic imaging system
  • Risk related with high radiation exposure affecting use of CT scanner

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Favorable government initiatives to reduce cancer disease burden will spur the market growth

Numerous efforts undertaken by government and global health organizations such as the WHO and the CDC to create awareness regarding cancer, and to reduce disease burden will favor the cancer diagnostics market expansion. For instance, the WHO has collaborated with the International Agency for Research on Cancer (IARC) and other UN organizations to control occurrence of non-communicable diseases.

High cost associated diagnostic imaging system may slow down the market

The increasing use of diagnostic tests coupled with advancements enabling accurate and faster results has escalated price associated with diagnostics. Adoption of diagnostic imaging has grown rapidly over the years. However, all diagnostic imaging services are not covered by insurance. According to the ADIA data, patients undergoing MRI of breast, prostate, kidney, liver, pancreas, and pelvis spent additional USD 100 million every year for these services. Cost burden associated with diagnostic imaging is not affordable to majority of the population, thus impeding the market revenue.

Imaging technique plays crucial role in the diagnosis for almost every form of cancer

The imaging segment accounted for a cancer diagnostics market share of 65% in 2019. Detecting cancer merely with physical exams or biomarker tests is an onerous task and imaging test is must for conformation. The demand for imaging modalities is rapidly increasing with the increasing cancer prevalence. To meet the demand, new players are entering in cancer imaging market intensifying the existing competition. Moreover, technological advancements in imaging modalities have contributed to the segment growth.

Mammography segment will observe significant growth rate during the forecast timeframe owing to the increasing number of breast cancer across the globe. According to U.S. Breast Cancer Statistics, around 12.4% women in the U.S. have breast cancer and around 266,210 new cases of cancer were detected in 2018, accelerating the demand for mammography procedures.

Incidence of breast cancer is sharply increasing in developing as well as developed countries

Cancer Diagnostics Market By Cancer Type

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The breast cancer segment size was over USD 19.5 billion in 2019 and is expected to witness substantial gains through 2026. The major causes leading to an upsurge in breast cancer prevalence and incidence rates are hormone replacement therapy, obesity, reduced childbearing and age-related risks. Changing lifestyles and increased alcohol consumption can be directly associated with breast cancer prevalence as well as incidence, as it results in an increase in estrogen levels in the body. Furthermore, it was also found that the incidence of breast cancer in women aged between 50 to 69 years is rising rapidly.

Increasing number of hospital admissions for cancer diagnosis and treatment will fuel the cancer diagnostics market demand

Hospital segment dominated around 41% market share in 2019. Hospitals have high adoption rates for technologically advanced imaging modalities and other devices that are utilized in the detection of cancer. As reported by the National Health Expenditures, out of the total healthcare expenditures, 32% accounts to hospital care and majority of the admissions to hospital are done for cancer treatments.

Availability of low-cost tests and key market players will boost the North America market growth

Cancer Diagnostics Market By Region

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North America cancer diagnostics market held largest revenue share of about 42% in 2019 and is anticipated to grow considerably over the coming years. Advancements in diagnostic tests and greater patient & physician awareness regarding early disease detection are some of the major factors contributing to increasing diagnostics uptake in the region.

Moreover, suboptimal lifestyle standards as well as increasing tobacco and alcohol consumption leading to various types of cancer result in increasing demand of diagnostics in developed economies. Furthermore, strong foothold of key industry players in the region coupled with favorable R&D initiatives by these players will favor the market size expansion.

Adoption of business strategies will pave growth opportunities for companies operating in the market

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

Recent industry developments:

  • In March 2020, Siemens Healthineers received CE mark for AI-Pathway Companion Prostate Cancer. The approval enabled company to market its product in Europe as a medical device, thereby supplementing its business growth as well as market position.
  • In January 2020, Sysmex launched its ipsogen JAK2 DX reagent, a gene testing kit for blood cancer. This product measures the mutation quantitatively used in diagnosis of hematopoietic tumors. This strategy enabled the firm to expand its product offering, thereby supplementing its product portfolio.

The cancer diagnostics market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2015 to 2026, 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 rectal cancer
  • Endometrial cancer
  • Kidney cancer
  • Leukemia
  • Liver-lung cancer
  • Melanoma
  • Non-Hodgkin lymphoma
  • Pancreatic cancer
  • Prostate cancer
  • Thyroid cancer
  • Others

Market, 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
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE

Frequently Asked Questions (FAQ) :

In 2019, global industry size was worth USD 104.8 billion and may grow at 8.5% CAGR through 2026, driven by the reduction in physical activity and rising adoption of unhealthy diets.
The cancer diagnostics industry size from breast cancer segment, in 2019, was over USD 19.5 billion. The segment will perform extremely well through 2026 given rising breast cancer prevalence due to obesity, hormone replacement therapy, etc.
North America accounted for 42% of the industry share in 2019 and will observe commendable growth, driven by rising patient & physician awareness and advancements in diagnostic tests.
Increasing cancer prevalence and subsequent need for imaging modalities as opposed to physical tests will push demand for imaging. Imaging segment held 65% of industry share in 2019.
Hospital segment led the business in 2019, having accounted for around 41% of market share, and will perform well during the forecast period, owing to high adoption rate of technologically developed imaging modalities.

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Premium Report Details

  • Published Date: Sep 2020
  • Pages: 244
  • Tables: 257
  • Charts / Figures: 16
  • Companies covered: 19
  • Countries covered: 17

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