The global cancer diagnostics market size was valued at USD 176.22 billion in 2021. It is expected to reach USD 323.97 billion by 2030, growing at a CAGR of 7.0% during the forecast period (2022–2030). The process of finding biomarkers, proteins, and other indicators that help identify a cancerous tumor is known as cancer diagnostics. Effective diagnostic testing is used to plan and evaluate clinical outcomes, monitor disease severity, and confirm or rule out the presence of infection. Imaging, laboratory tests (including tests for tumor markers), endoscopic examination, tumor biopsy, surgery, or genetic testing are all diagnostic procedures for cancer. Increased government initiatives and other private organizations to raise awareness about early detection and cancer prevention are significant factors driving the growth of the cancer diagnostics market. In addition, expanding diagnostics laboratories in developed nations is anticipated to fuel market expansion.
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Rising Cancer Awareness by Government Programs and Additional Organizations
The government, public, and private sectors have made significant investments in this field due to the lack of effective treatment options for cancer that can be used to treat it permanently. Governments provide funding to support the development of early-stage cancer detection, screening, and diagnosis, which will significantly lower the cost of treatment. The high cost of R&D activities is borne by research organizations working in this field through donations from the public and private sectors. The significance of this factor is anticipated to grow as biological therapies become more widely accepted as viable treatment options.
Another significant factor expected to increase demand for cancer diagnostics is the inclusion of cancer screening tests in National Cancer Screening Programs. For instance, the National Mammography Program is one of the United States national cancer screening programs. Australia's government is leading the way by implementing three cancer screening programs: The National Bowel Cancer Screening Program, Breast Screen Australia, and the National Cervical Screening Program. Similarly, most European nations are gradually incorporating HPV DNA screening into their national cervical cancer initiatives.
Increasing Number of Diagnostics Facilities in Developed Nations
The number of cancer cases is rising, driving demand for diagnostic laboratories, which are evolving into subspecialist centers for cancer diagnosis as they help to ensure the precision of diagnostic procedures. These activities, which depend on quick consultations and the integration of crucial information to treat cancer patients, can be made possible by rapidly sharing digital images. The ease of consultation and peer review of cases, as well as the widespread use of digital images in training and quality assurance activities by pathology labs and the American Society for Clinical Pathology (ASCP), have all contributed to significant improvements in the quality of cancer diagnosis over the past five years.
High Radiation Exposure Risk
A growing concern in the medical community is the radiation from computed tomography (CT) scans' potential to cause cancer. People who undergo scans are exposed to x-rays, and ionizing radiation can harm cells and cause cancer. Additionally, when weighed against the advantages of diagnostic scans for the elderly, CT scanning does not pose a significant risk. The part of the body exposed, the person's age at exposure, and the person's gender affect the likelihood of cancer from radiation exposure. Although the risk of radiation-induced cancer is lower in older people, it is higher in infants and children. Several recent studies have shown that the radiation dose needs to be lowered to enhance patient outcomes, and alternative imaging modalities must be utilized to answer clinical concerns about patients. As a result, this factor is impeding market expansion.
Creation of Diagnostic Methods for Different Cancer Mutations
New diagnostic procedures, such as liquid biopsies, are necessary due to the increase in cancer risk and prevalence to detect the presence of analytes in biological fluids such as blood, urine, and cerebrospinal fluid. For instance, the FDA (Food and Drug Administration) of the United States approved two liquid biopsies for cancer in 2020. The first is a companion diagnostic test that combines liquid biopsy and next-generation sequencing (NGS) as two different technologies. This examination intends to help patients with EGFR gene mutations in a particular type of metastatic non-small cell lung cancer make treatment decisions (NSCLC). The second test is designed to identify patients with prostate cancer and NSCLC who may benefit from targeted therapy by detecting specific gene mutations found in cfDNA (circulating free DNA) isolated from whole blood plasma specimens. Both methods are recommended when a tissue biopsy is not possible.
The global cancer diagnostics market is segmented by product, application, and end-user.
Based on Product, the global market is bifurcated into consumables and instruments.
The consumables segment is the highest contributor to the market and is expected to grow at a CAGR of 6.5% during the forecast period. Antibodies, kits and reagents, probes, and other consumables are used in cancer diagnostics. Malignant cells have more endogenous gamma immunoglobulin than normal cells and cells that haven't changed. The presence of more antibodies in cancerous tissues makes it easier to identify and track cancerous cells as they undergo mutation and diversify in real-time. During the forecast period, increased product quality, safety, and dependability for tumor detection will support market expansion. The demand for consumables has increased as cancer prevalence has increased.
Pathology-based imaging and biopsy instruments are used to diagnose cancer. Different types of instrumentation, including slide staining systems, cell processors, tissue processors, PCR instruments, NGS instruments, and microarrays, are used in pathology-based devices. Imaging modalities are also utilized in the process of a cancer diagnosis. Increased healthcare spending to enjoy a higher quality of life will further fuel the segment's expansion. A rise in instrument product launches will fuel segment growth over the forecast period.
Based on Application, the global market is bifurcated into breast cancer, colorectal cancer, cervical cancer, lung cancer, prostate cancer, skin cancer, blood cancer, kidney cancer, liver cancer, pancreatic cancer, and ovarian cancer.
The breast cancer segment owns the highest market share and is expected to grow at a CAGR of 8.4% during the forecast period. Breast cells can become cancerous and develop into breast cancer. Men and women can both develop breast cancer, but women are more likely to do so. Menopause and other age-related changes in women's bodies, as well as hereditary gene abnormalities like BRCA1 and BRCA2, chest radiation exposure as a child or young adult, obesity, and other risk factors that might result in breast cancer growth, are the leading causes of cancer in women.
Blood cancer affects bone marrow, the spongy tissue found inside the bones where blood cells are created, and blood cells. Leukemia, lymphoma, and myeloma are the three types of blood cancers. Such cancers can be brought on by advancing age, an increase in weight, or even a history of plasma cell disease. Pain in the bones, particularly in the back, ribs, and skull, as well as weakness, exhaustion, a sense of thirst, frequent infections and fevers, changes in urination pattern, and restlessness, are among the symptoms.
Based on The End-User, the global market is bifurcated into hospitals and clinics, diagnostic laboratories, diagnostic imaging centers, and research institutes.
The hospitals and clinics segment is the highest contributor to the market and is expected to grow at a CAGR of 7.3% during the forecast period. Hospitals and clinics are places that provide medical care, including diagnosis, treatment, and follow-up care, to those who are ill or injured. It is the most sought-after subset since it can simultaneously accommodate both in and out-patients.
Diagnostic imaging centers are locations with all the tools necessary for making a diagnosis and tracking a disease's development. These are preferred now that more sophisticated imaging systems have been added, providing images of the desired area of higher quality. The specialists working here are only qualified to analyze photos of cancerous cells, determine the type of cancer, and aid medical professionals in making a cancer diagnosis. It comprises skilled experts who are sufficiently knowledgeable about the level of radiation exposure and contrast agent needed to undergo the diagnostic procedure.
The global cancer diagnostics market is bifurcated into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.
North America Dominates the Global Market
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North America is the most significant shareholder in the global cancer diagnostics market and is expected to grow at a CAGR of 6.3% during the forecast period. The report considers the United States, Canada, and Mexico as the three major North American nations. In 2020, the U.S. contributed the most to revenue in North America and was a mature market. A critical factor in expanding the cancer diagnostics market is the presence of significant vital players in the area, including G.E. Healthcare, Becton, Dickinson and Company, Abbott Laboratories, and Danaher Corporation. The rise in demand for cancer diagnostics, increase in lung cancer, breast cancer, ovarian cancer, and other cancers, the existence of cutting-edge healthcare facilities with qualified medical staff, and expansion in R&D centers all impact market growth. The sizeable geriatric population, accessibility of cancer diagnostics, favorable reimbursement policies, and increased public awareness of diagnostics all contribute to the market's expansion.
Europe is expected to grow at a CAGR of 6.8%, generating USD 84,081.31 million during the forecast period. The markets for cancer diagnostics in Germany, France, the U.K., Italy, Spain, and the rest of Europe have all been studied. In 2020, Europe held a 26.43% market share for cancer diagnostics worldwide. The market for cancer diagnostics in European nations is predicted to grow steadily during the forecast period due to the increased demand for advanced cancer diagnostics and the considerable presence of prominent companies like Siemens Healthineers AG and BioMérieux SA. Additionally, patients in European nations are increasingly using cancer diagnostics. Moreover, the main growth drivers in Europe are the rise in cancer prevalence and new product innovations in cancer diagnosis. The availability of qualified professionals and developed infrastructure in the healthcare sector are two additional major growth drivers of the European market.
The Asia-Pacific cancer diagnostics market analysis includes South Korea, Australia, Japan, China, India, and the rest of the region. During the forecast period, this region is anticipated to grow fastest. Due to its large cancer patient population, improved cancer diagnostics efficacy and favorable reimbursement policies, and growing healthcare infrastructure, Asia-Pacific is anticipated to experience the fastest market growth during the forecast period. Rising healthcare costs and increased public awareness of early cancer diagnosis are the main drivers of the market's significant growth.
Brazil, Saudi Arabia, South Africa, and the rest of LAMEA's cancer diagnostics market are all investigated. Due to an absence of hospitals offering cutting-edge medical procedures and a shortage of qualified medical personnel, the cancer diagnostics market in LAMEA is still in its infancy. A significant factor anticipated to fuel market expansion in LAMEA is the rise in patient awareness of early cancer detection and diagnosis.
List of key global cancer diagnostics market’ suppliers profiled