Cancer Diagnostics Market Size By Application (Tumor Biomarkers Tests, Imaging, 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, 2019 – 2025

Published Date: Jul 2019  |  Report ID: GMI2406  |  Authors: Sumant Ugalmugle

Report Format: PDF   |   Pages: 250   |   Base Year: 2018

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Cancer Diagnostics Market size was valued over USD 97.2 billion in 2018 and is expected to witness more than 8% CAGR from 2019 to 2025.

Cancer Diagnostics Market

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Increasing incidence of cancer across the globe will stimulate the global cancer diagnostics market growth over the forthcoming period.  As per the World Health Organization, cancer is the foremost cause of mortality globally, holding account for approximately 9.6 million deaths in the year 2018. Lung cancer, breast cancer and colorectal cancer forms are the most common. Oncology is associated with various comorbidities and its timely diagnosis and therapy is required for better quality of life. Thus, with growing burden of cancer coupled with various risk factors including obesity, unhealthy lifestyle, hormone replacement therapy among others, the demand for cancer tests will significantly boost over the coming years.

Technological advancements in target disease screening tests will positively impact cancer diagnostics industry size. Recent advances including liquid biopsy technique is driving the demand for oncology diagnostics. Liquid biopsy allows detection of cancer through multiple markers present in the blood, saliva, or urine of the cancer patient and is an advanced tool in cancer detection. Additionally, liquid biopsy is non-invasive in nature, that further increase the customer preference for the cancer test. Other emerging technologies such as next-generation sequencing and breath biopsy/volatile organic compound profiling, providing novel approaches in oncology diagnosis will facilitate robust growth of non-invasive cancer diagnostics.

Rising number of diagnostic and research laboratories across developing countries will expand the cancer diagnostics market growth. With growing expenditure in healthcare and infrastructure, the number of healthcare facilities is rapidly growing. For instance, diagnostic laboratories offer cost advantage in India as compared to the other nations. Such increasing facilities offer lucrative growth opportunities for cancer diagnostics business. However, risk associated with exposure to radiation for cancer diagnosis coupled with cost-intensive nature of diagnostic imaging systems may restrict the cancer diagnostics market growth over the upcoming years.

Cancer Diagnostics Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 97.2 Billion (USD)
Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025
Forecast Period 2019 to 2025 CAGR: 8% 2025 Value Projection: 170 Billion (USD)
Pages: 250 Tables, Charts & Figures: 266
Geographies covered (17): U.S., Canada, Germany, UK, France, Italy, Russia, Japan, China, India, Australia, Mexico, Brazil, Argentina, South Africa, UAE, Saudi Arabia
Segments covered: Application, Cancer Type, End-use and Region
Companies covered (19): AB SCIEX, Agilent Technologies Inc., Abbott Laboratories, Becton, Dickinson and Company (BD), Biocartis SA, Biocare Medical, LLC, bioMérieux SA, Bio-Rad Laboratories, Inc., Cancer Genetics, Inc., Danaher Corporation, GE Healthcare, Hologic, Inc., Janssen Diagnostics, LLC, Myriad Genetics, Inc., Qiagen N.V., Roche Diagnostics, Siemens Healthineers, Sysmex Corporation, Thermo Fisher Scientific, Inc.
Growth Drivers:
  • Rising incidences of cancer globally
  • Several initiatives undertaken by government and other organizations to spread disease awareness
  • Growing number of diagnostic laboratories in developing countries
  • Technological advancements in developed countries such as the U.S.
Pitfalls & Challenges:
  • High capital investment coupled with high cost associated with diagnostic imaging system
  • Risk related with high radiation exposure affecting use of CT scanners

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Cancer Diagnostics Market, By Application

Cancer diagnostics imaging market accounted for the largest market share of over 65% in 2018. High segmental share can be attributed to high accuracy linked with diagnosis of cancer through imaging modalities. Besides other alternatives such as physical examination, biomarker test, biopsy and others, diagnostic imaging confirms presence of the disease. Innovations in such imaging tools further escalate the accuracy and diagnostic yield. Growing number of new market entrants in diagnostic imaging space will further contribute to the segmental growth. 

In situ hybridization market is estimated to progress at 10.5% CAGR during the forecast years. In situ hybridisation technique maps the genetic content of the patient’s cells. This technique is used to detect extra HER2 gene copies in the biopsy samples for breast cancer screening. In situ hybridisation test is accurate but is not widely available. However, rapidly rising incidence of breast cancer among other cancer types will provide momentous growth potential for in situ hybridization segment in the future years.

Cancer Diagnostics Market, By Cancer Type

Germany Cancer Diagnostics Market By Type

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Liver-lung cancer diagnosis market held highest revenue size of USD 18.2 billion in 2018. The estimated new cases of liver and intrahepatic bile duct cancer were 42,220 in the U.S., with majority of cases in males. Metastatic liver cancer is a rare condition wherein the cancer originates in the liver and spreads to other organs in the body and may prove to be fatal. Therefore, early diagnosis of cancer is necessary to prevent mortality and hence, with rising prevalence of liver-lung cancer, the demand for cancer diagnostics will escalate over the projection timeframe.

Endometrial cancer diagnostics market will progress at 8.8% CAGR over the estimation period. Endometrial cancer is commonly detected cancer form among women and accounted for more than 60,000 new cases in 2018 in the U.S. Growing pervasiveness of risk factors including high obesity prevalence, hypertension and diabetes due to changing lifestyle habits account for primary factors for cancer development. Furthermore, availability of advanced diagnostic tools for detection of endometrial cancer will impel the segmental growth in the forthcoming years.

Cancer Diagnostics Market, By End-use

Hospital segment accounted for over 40.0% market share in 2018. Significant revenue size can be attributed to availability of latest technologies in hospitals along with skilled healthcare professionals. Hospitals have broad portfolio of diagnostic tests. Presence of numerous reimbursement policies and healthcare coverage provided in the U.S. hospitals for cancer prevention and early diagnosis will drive business growth.

Cancer research institutes segment will witness robust growth at 9.4% CAGR over the forecast timeframe. Research institutes focus on novel techniques to detect specific disease in real-time. Therefore, numerous industry players are collaborating with cancer research institutes to strengthen its R&D, assisting in new product development. Furthermore, growing investment in healthcare R&D by the government in emerging economies will spur the segmental growth over the future years.

Cancer Diagnostics Market, By Region

Asia Pacific Cancer Diagnostics Market by Country

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U.S. cancer diagnostics market held USD 36.4 billion revenue size in 2018. High disease burden forms the major factor impacting the market in the country. As per the American Cancer Society, an estimated 606,880 deaths will occur due to cancer in 2019, across the U.S. With rising pervasiveness of cancer, the demand for early diagnosis and treatment will significantly grow in the coming years. Presence of accurate and sensitive cancer screening and diagnostics in the nation will support the market growth. Also, numerous state federations are funding for the Cervical Cancer Early Detection Program, further aiding the cancer diagnostics market growth. Moreover, availability of personalized and state-of-art cancer screening facilities will offer robust potential to the U.S. cancer diagnostics industry growth over the future years.

Indian market will foresee momentous growth at a pace of 9.0% over the projection timeframe. Rising adoption of sedentary lifestyle, high consumption of sugar-rich food, hormone replacement therapies and lesser child-bearing are few risk factors primarily contributing to cancer development. Breast cancer is the most common form of cancer in India among women. With increasing cancer incidence, there is rising awareness and initiatives for breast cancer screening in rural and urban areas of India. For instance, #LosingIsNotAnOption, an initiative taken by a collaboration between Tata Trusts, Swasth India Foundation and Prashanti Cancer Care Mission is focused at providing breast cancer screening to women through mobile vans for early cancer diagnosis at inexpensive costs. Additionally, growing number of diagnostic laboratories and cancer research institutes further augment the business growth.

Competitive Market Share

Few of the key industry players of global cancer diagnostics market are Abbott Laboratories, Becton, Dickinson and Company (BD), GE Healthcare, Janssen Diagnostics, Roche Diagnostics, Siemens Healthineers, and others. Industry players are undertaking strategic initiatives such as new technology development, acquisitions and mergers to expand their product base. Additionally, numerous companies are collaborating with diagnostics and research laboratories to gain better customer base and earn profitability.

Recent industry developments:

  • In March 2019, Guardant Health announced its acquisition strategy for Bellwether Bio, a recent company engaged in the development of next-generation oncology diagnosis using cell-free DNA (liquid biopsy). The acquisition assisted the company to fortify its cancer diagnostics product base through novel technologies.
  • In July 2018, Biodesix, Inc., a company involved in molecular diagnostics acquired Integrated Diagnostics, Inc. (Indi). The acquisition involved Inid’s  XL2 test, that is its leading non-invasive oncology test for screening lung cancer, thereby offering Biodesix a competitive advantage and expanding its product portfolio.

Cancer Diagnostics Industry Background  

The foremost cancer diagnosis can be dated back to the 1920s, that was developed by George Papanicolaou. The first cancer test that was commonly deployed in detection of cervical cancer was the Pap test. The test potential in cancer screening was presented in 1923 by its developer. Later, in 1960s, the American Cancer Society promoted the test, thereby lead to a sharp decline in mortality rate due to cervical cancer. Gradually, other oncology screening methods were developed with official recommendation of mammography technology in the 1976.

Numerous cancer diagnostic tools were launched subsequently. Currently, scientists are focusing on advancing cancer diagnostics via non-invasive techniques such as liquid biopsy and Immunohistochemistry to overcome the ill effects due to radiation from imaging diagnostics for cancer. Thus, expanding diagnostics facilities, increasing expenditure on R&D and development of precise and sensitive diagnostics will offer attractive opportunities for cancer diagnostics industry growth, especially in emerging economies during the foreseeable future.

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Premium Report Details

  • Published Date: Jul 2019
  • Pages: 250
  • Tables: 257
  • Charts / Figures: 9
  • Companies covered: 19
  • Countries covered: 17

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