Overview and Scope
Cancer diagnostic devices refer to medical equipment used to detect and diagnose the stage and cause of the condition by identifying the oncogenic proteins, and certain enzymes released by the tumor cells in patients.
Sizing and Forecast
The cancer diagnostics market size has grown rapidly in recent years. It will grow from <b>$21.38 billion in 2023 to $23.84 billion in 2024 at a compound annual growth rate (CAGR) of 11.5%. </b> The growth in the historic period can be attributed to increasing cancer incidence, cancer screening programs, personalized medicine, public awareness.
The cancer diagnostics market size is expected to see rapid growth in the next few years. It will grow to <b>$37.09 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%. </b> The growth in the forecast period can be attributed to emerging markets growth, regulatory support, artificial intelligence (ai) and machine learning, early detection and intervention. Major trends in the forecast period include liquid biopsies, multi-omics approaches, point-of-care testing, screening and early intervention campaigns.
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Segmentation & Regional Insights
The cancer diagnostics market covered in this report is segmented –
1) By Products: Companion Diagnostics, Molecular Diagnostics
2) By Method: Biopsy, Endoscopy, Tumor Biomarker Tests, Imaging
3) By Application: Cervical Cancer, Breast Cancer, Liver Cancer, Blood Cancer, Kidney Cancer, Colorectal Cancer, Pancreatic Cancer, Ovarian Cancer, Melanoma, Other Applications
4) By End-User: Cancer Research Institutes, Diagnostic Laboratories, Hospitals, Other End Users
<b>North America</b> was the largest region in the cancer diagnostics market in 2023. <b>Asia-Pacific</b> was the second-largest region in the global cancer diagnostics market. The regions covered in the cancer diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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Major Driver Impacting Market Growth
A high prevalence rate of various types of cancers is a major driver of the cancer diagnostics market. This is because the increasing incidences of various types of cancers are leading to a greater number of people opting for diagnosis and treatment. In addition, according to the World Health Organization (WHO), cancer was the second-leading cause of death worldwide. The National Cancer Institute (NCI) has estimated the number of new cancer cases per year to reach 23.6 million by 2030.
Key Industry Players
Major companies operating in the cancer diagnostics market include <b> Abbott Laboratories, Becton Dickinson and Company, Hologic, GE Healthcare Ltd., Thermo Fisher Scientific, Siemens Healthcare GmbH, Accuray, Elekta AB, C.R. BardInc., Biogenex Laboratories, Eckert & Ziegler BEBIG, Veracyte, PathAI, Bio-Rad Laboratories, Biochain, DiagnoCure, Illumina, Myriad Genetics, CompanionDx, Epic Sciences, Eli Lilly and Co, Genomic Health, Affymetrix, Agilent Technologies, Adaptive Biotechnologies, Biocartis, Biocept, Cancer Genetics Inc., Caris Life Sciences, Cepheid, Epigenomics AG, Exact Sciences, Foundation Medicine, GenMark Diagnostics, Guardant Health, HalioDX, IBA group, Invitae Corporation, Medtronic plc, NanoString Technologies, Natera, NeoGenomics, Oncura Inc., PerkinElmer, Personal Genome Diagnostics, Qiagen, Roche Diagnostics, Theragenics Corporation, Varian Medical SystemsInc. </b>
The cancer diagnostics market report table of contents includes:
1. Executive Summary
2. Cancer Diagnostics Market Characteristics
3. Cancer Diagnostics Market Trends And Strategies
4. Cancer Diagnostics Market – Macro Economic Scenario
5. Global Cancer Diagnostics Market Size and Growth
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26. South America Cancer Diagnostics Market
27. Brazil Cancer Diagnostics Market
28. Middle East Cancer Diagnostics Market
29. Africa Cancer Diagnostics Market
30. Cancer Diagnostics Market Competitive Landscape And Company Profiles
Top Major Players:
- Abbott Laboratories
- Becton Dickinson and Company
- Hologic
- GE Healthcare Ltd
- Thermo Fisher Scientific
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