Cancer Diagnostics Market By Product Type (Imaging Diagnostics, Molecular Diagnostics, Laboratory-Developed Tests, Liquid Biopsy), By Application (Early Cancer Detection, Cancer Diagnosis, Prognostic Testing, Monitoring Treatment Response), By End-User Industry (Hospitals, Diagnostic Laboratories, Cancer Research Institutes, Biopharmaceutical Companies), By Cancer Type (Lung Cancer, Breast Cancer, Colorectal Cancer, Prostate Cancer, Liver Cancer); Global Insights & Forecast (2024 – 2030)

As per Intent Market Research, the Cancer Diagnostics Market was valued at USD 223.9 billion in 2023 and will surpass USD 439.6 billion by 2030; growing at a CAGR of 10.1% during 2024 - 2030. The cancer diagnostics market plays a critical role in the healthcare sector, enabling early detection, precise diagnosis, and effective monitoring of cancer. As cancer prevalence continues to rise globally, the demand for advanced diagnostic tools has escalated. Key drivers in the market include the increasing focus on early cancer detection, the development of personalized medicine, and the growing need for more accurate diagnostic tests. These tools are not only crucial for detecting cancer at earlier stages, which enhances treatment efficacy and survival rates, but they are also vital in monitoring disease progression and tailoring treatments. With continued innovations in technology, including imaging diagnostics, molecular testing, and liquid biopsies, the cancer diagnostics market is poised for substantial growth in the coming years. Imaging Diagnostics Segment is Largest Owing to Widespread Adoption in Cancer Detection Imaging diagnostics remains the largest subsegment in the cancer diagnostics market due to its established role in the diagnosis and staging of various cancer types. Techniques such as X-rays, CT scans, MRIs, and PET scans have been crucial in detecting tumors, determining their size, and assessing whether they have spread to other areas of the body. The broad adoption of imaging diagnostics is due to its non-invasive nature, the ability to visualize detailed anatomical structures, and its integration into routine cancer care for initial diagnosis and treatment monitoring. These imaging methods are often used alongside other diagnostic techniques to provide a comprehensive view of the patient's condition. The growth of imaging diagnostics is also supported by advancements in imaging technologies, such as 3D imaging, artificial intelligence (AI) integration, and more accurate imaging devices. These innovations are helping clinicians improve diagnostic accuracy and reduce patient discomfort. Additionally, the increasing prevalence of cancer and the need for routine screenings in high-risk populations further fuel the growth of this segment. As imaging diagnostics evolve, they will continue to dominate the market and play a pivotal role in cancer detection and management. Molecular Diagnostics Segment is Fastest Growing Owing to Advancements in Personalized Medicine Molecular diagnostics is the fastest growing segment within the cancer diagnostics market, driven by the increasing focus on personalized medicine. This subsegment involves using genetic testing and biomarkers to analyze cancer at the molecular level, enabling clinicians to make more informed treatment decisions based on a patient's unique genetic makeup. The shift toward personalized medicine, which tailors treatment plans to individual patients, is one of the primary drivers of growth in molecular diagnostics. Techniques such as next-generation sequencing (NGS) and polymerase chain reaction (PCR) are instrumental in detecting genetic mutations and other molecular changes in tumors, which can significantly impact treatment choices, especially in precision oncology. The market for molecular diagnostics is expanding rapidly as advancements in technology make genetic and genomic testing more accessible and affordable. The growing understanding of the genetic underpinnings of cancer and the increasing availability of targeted therapies are also contributing to the segment’s growth. As molecular diagnostics continue to improve, they offer enhanced accuracy in detecting cancer-related mutations, identifying drug resistance, and monitoring treatment responses. The integration of molecular diagnostics with liquid biopsy technologies further enhances its potential, allowing for minimally invasive cancer detection and monitoring, which is expected to increase its adoption. Cancer Type Segment is Largest in Lung Cancer Due to High Incidence and Screening Advancements Lung cancer remains the largest cancer type segment in the cancer diagnostics market, owing to its high incidence and the critical need for early diagnosis. Lung cancer is one of the leading causes of cancer-related deaths worldwide, and early detection is crucial for improving survival rates. Imaging techniques such as low-dose CT scans, combined with molecular diagnostic tests, have proven effective in identifying early-stage lung cancer in high-risk populations, particularly in individuals with a history of smoking or other risk factors. As screening programs and awareness campaigns grow, the demand for lung cancer diagnostics continues to rise. The lung cancer diagnostics market is also benefiting from the development of new diagnostic tools, including liquid biopsy tests, which offer a non-invasive alternative to traditional tissue biopsies for detecting genetic mutations and monitoring treatment responses. As research into lung cancer genetics and biomarkers progresses, new molecular diagnostic methods are expected to further enhance early detection and personalized treatment for lung cancer patients. This growing focus on early diagnosis, combined with ongoing innovations in diagnostic technologies, ensures that lung cancer will remain a dominant area of growth in the cancer diagnostics market. End-User Industry Segment is Largest in Hospitals Due to High Demand for Diagnostic Services Hospitals are the largest end-user industry in the cancer diagnostics market, as they provide a wide range of diagnostic services for cancer patients. Hospitals play a central role in the cancer care continuum, from initial screening and diagnosis to treatment and ongoing monitoring. The high volume of cancer patients in hospitals, coupled with the advanced diagnostic tools available, contributes significantly to the demand for cancer diagnostic services. Hospitals also benefit from having integrated systems for diagnosis, treatment, and patient management, which streamlines the cancer care process and improves outcomes. The increasing adoption of cutting-edge diagnostic technologies in hospitals, including molecular diagnostics and imaging platforms, is helping drive growth in this sector. Hospitals are also investing in cancer centers and specialized diagnostic laboratories to meet the rising demand for accurate and efficient cancer detection. As hospitals continue to lead in the adoption of innovative cancer diagnostic technologies, they will remain a dominant force in the market, providing essential services to cancer patients and contributing to the overall growth of the cancer diagnostics industry. Fastest Growing Region is Asia Pacific Due to Rising Cancer Incidence and Healthcare Advancements The Asia Pacific (APAC) region is the fastest-growing region in the global cancer diagnostics market. This growth can be attributed to the rising incidence of cancer, particularly in countries like China and India, where the aging population and lifestyle changes contribute to higher cancer rates. Additionally, the region is experiencing rapid improvements in healthcare infrastructure, which is making advanced diagnostic technologies more accessible. The growing awareness of cancer and the increasing demand for early detection and personalized treatments are further driving market expansion in APAC. As healthcare systems in the region continue to modernize, more countries are implementing cancer screening programs, which is fueling the demand for cancer diagnostics. The availability of government support for cancer care, coupled with an expanding biopharmaceutical industry, is also contributing to the region's growth. With a large and diverse population, and continued advancements in diagnostic technologies, the APAC region is expected to continue leading the global cancer diagnostics market for the foreseeable future. Leading Companies and Competitive Landscape The cancer diagnostics market is highly competitive, with numerous global companies leading the way in developing and commercializing diagnostic technologies. Key players in the market include Roche Diagnostics, Abbott Laboratories, Thermo Fisher Scientific, Illumina, Siemens Healthineers, GE Healthcare, and Guardant Health. These companies are continuously innovating to offer cutting-edge diagnostic solutions, ranging from imaging technologies and molecular diagnostics to liquid biopsies and next-generation sequencing. The competitive landscape is shaped by ongoing research and development, as companies aim to bring more accurate, efficient, and minimally invasive diagnostic tools to market. Strategic partnerships, acquisitions, and collaborations with healthcare providers and research institutions are common strategies employed by leading players to expand their market presence. As the market continues to grow, companies are focusing on enhancing their product portfolios, improving diagnostic accuracy, and offering personalized cancer diagnostic solutions to meet the evolving needs of patients and healthcare professionals. Recent Developments: • Roche Diagnostics received FDA approval for its new liquid biopsy test, designed to detect mutations in lung cancer patients, enabling more personalized treatment options. • Thermo Fisher Scientific launched a new next-generation sequencing platform that enables faster and more accurate cancer detection, enhancing molecular diagnostics in oncology. • Illumina partnered with Foundation Medicine to expand the availability of genomic profiling for cancer patients, allowing for more precise treatment plans based on genetic analysis. • Guardant Health announced a collaboration with a leading pharmaceutical company to integrate its liquid biopsy platform into clinical trials for assessing the effectiveness of new cancer drugs. • Bio-Rad Laboratories acquired a molecular diagnostics company specializing in cancer biomarkers, expanding its portfolio and enhancing its offerings in personalized cancer diagnostics. List of Leading Companies: • Roche Diagnostics • Abbott Laboratories • Thermo Fisher Scientific • Illumina • Siemens Healthineers • GE Healthcare • Bio-Rad Laboratories • Qiagen • Philips Healthcare • Guardant Health • Exact Sciences Corporation • Foundation Medicine • Beckman Coulter • LabCorp • Neogenomics Report Scope: Report Features Description Market Size (2023) USD 223.9 Billion Forecasted Value (2030) USD 439.6 Billion CAGR (2024 – 2030) 10.1% Base Year for Estimation 2023 Historic Year 2022 Forecast Period 2024 – 2030 Report Coverage Market Forecast, Market Dynamics, Competitive Landscape, Recent Developments Segments Covered Cancer Diagnostics Market By Product Type (Imaging Diagnostics, Molecular Diagnostics, Laboratory-Developed Tests, Liquid Biopsy), By Application (Early Cancer Detection, Cancer Diagnosis, Prognostic Testing, Monitoring Treatment Response), By End-User Industry (Hospitals, Diagnostic Laboratories, Cancer Research Institutes, Biopharmaceutical Companies), By Cancer Type (Lung Cancer, Breast Cancer, Colorectal Cancer, Prostate Cancer, Liver Cancer) Regional Analysis North America (US, Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Australia, India, and Rest of Asia-Pacific), Latin America (Brazil, Argentina, and Rest of Latin America), Middle East & Africa (Saudi Arabia, UAE, Rest of Middle East & Africa) Major Companies Roche Diagnostics, Abbott Laboratories, Thermo Fisher Scientific, Illumina, Siemens Healthineers, GE Healthcare, Bio-Rad Laboratories, Qiagen, Philips Healthcare, Guardant Health, Exact Sciences Corporation, Foundation Medicine, Beckman Coulter, LabCorp, Neogenomics Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements