The global cancer diagnostics market size was US$ 171.1 billion in 2021. The global cancer diagnostics market is forecast to grow to US$ 301.1 billion by 2030 by growing at a compound annual growth rate (CAGR) of 6.82% during the forecast period from 2022 to 2030.

Factors Influencing the Market

The rate of oncologic cases is surging across the globe. As a result, the demand for effective screening tests is also growing. In addition, constant innovations in diagnostics technology will fuel the growth of the cancer diagnostics market during the forecast period.

Growing awareness about the early diagnosis of cancer, combined with supportive government initiatives, will fuel the growth of the cancer diagnostics market. Furthermore, the fact that cancer is among the leading causes of death worldwide will drive the growth of the cancer diagnostics market during the study period.

According to the data published by the WHO, the number of new cancer cases is anticipated to increase by around 70% in the next decades. The organization also claimed that cancer is the second most common cause of death in the U.S. and accounts for nearly one in every four deaths in the country. The increasing prevalence of cancer will the demand for cancer diagnostics during the forecast period.

COVID-19 Impact Analysis

The COVID-19 pandemic forced the diagnostic centers to shut their doors for the short time. Technological advancements and R&D activities were also halted for a short time. As a result, it affected the global cancer diagnostics market. However, the market may witness ample growth opportunities as the governments are lifting regulations and increasing investments in the healthcare sector. Furthermore, growing funding from private organizations will also contribute to the growth of the cancer diagnostics market in the coming years.

Regional Analysis

Based on the regions, the Asia-Pacific cancer diagnostics market is forecast to emerge as the largest market. It is owing to the growing economic development in growing countries like India and China. Furthermore, the presence of highly populous countries like India and China will also contribute to the growth of the cancer diagnostics market. Due to these benefits, international companies are also investing highly in these countries. Thus, growing collaborative partnerships and strategic alliances will drive the cancer diagnostics market forward. High awareness in the region about the early diagnosis of cancer is expected to benefit the cancer diagnostics market in the region during the study period.

Competitors in the Market

Abbott Laboratories
Becton, Dickinson, and Company
Bio-Rad Laboratories, Inc.
Roche Holdings AG
Danaher Corporation
Hologic, Inc.
Koninklijke Philips N.V.
Qiagen N.V.
Siemens Healthcare GmbH
Thermo Fisher Scientific Inc.
Other Prominent Players
Market Segmentation

The global cancer diagnostics market segmentation focuses on Screening, Application, End-Use, and Region.

By Screening Type Outlook

Laboratory Tests
Genetic Tests
Imaging
Endoscopy
Biopsy
Other (Barium Enema)
By Application Outlook

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 Outlook

Hospitals and Clinics
Diagnostic Laboratories
Diagnostic Imaging Centers
Research Institutes
By Regional Outlook

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America