Discover trends, market shifts, and competitive outlooks for the cancer diagnostics industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research

How Fast Is The Cancer Diagnostics Market Expected to Grow Between 2025 And 2029?

There has been a swift expansion in the size of the cancer diagnostics market recently. The market, which was worth $23.24 billion in 2024, will expand to $25.73 billion in 2025, indicating a compound annual growth rate (CAGR) of 10.7%. Factors that contributed to the growth in the historic time frame include a rise in cancer occurrences, cancer screening initiatives, personalized medical treatments, and heightened public cognizance.

The market size for cancer diagnostics is anticipated to experience swift expansion in the coming few years. It is projected to reach $40.82 billion in 2029, with a compound annual growth rate (CAGR) of 12.2%. The anticipated growth in the forecast period is due to factors such as the expansion of emerging markets, regulatory backing, artificial intelligence (AI) and machine learning, coupled with early detection and intervention techniques. Dominant trends within the forecast period are expected to encompass liquid biopsies, multi-omics processes, point-of-care testing, along with screening and early intervention drives.

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What Are the Major Market Drivers Behind the Rising Adoption of Cancer Diagnostics Market?

The prominence of different kinds of cancers across the globe serves as a considerable propellant for the cancer diagnostics market. This is primarily due to the escalation in cancer cases, prompting an increasing number of individuals to seek diagnosis and treatment. In line with this, the World Health Organization (WHO) has stated that cancer constitutes the world’s second most lethal disease. The National Cancer Institute (NCI), meanwhile, predicts annual new cancer cases could hit 23.6 million by 2030.

Which Key Market Segments Comprise the Cancer Diagnostics Market and Drive Its Revenue Growth?

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

Subsegments:

1) By Companion Diagnostics: Biomarker-Based Companion Diagnostics, Genetic Testing-Based Companion Diagnostics, Immunohistochemistry-Based Companion Diagnostics, PCR-Based Companion Diagnostics, Other Companion Diagnostics,

2) By Molecular Diagnostics: Polymerase Chain Reaction (PCR) Diagnostics, Next-Generation Sequencing (NGS) Diagnostics, In Situ Hybridization Diagnostics, Microarray-Based Diagnostics, DNA Or RNA Extraction Kits, Other Molecular Diagnostics

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Which Areas Are Leading Regions in the Cancer Diagnostics Market Expansion Across the Globe?

North America was the largest region in the cancer diagnostics market in 2023. Asia-Pacific 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.

What Are the Key Market Trends in the Cancer Diagnostics Market Over the Coming Years?

The use of artificial intelligence (AI) in the identification of cancer is an evolving trend seen in the cancer diagnosis market. AI enhances the precision of image identification in diagnostic procedures like breast and lung cancer checks by identifying these cancers at their early stages. Moreover, AI minimizes the occurrence of false positives during lung cancer tests thus, boosting accuracy in lung cancer detection. For instance, a dependable solution made up of cancer-detecting algorithms for the autonomous evaluation of lymph node biopsies was developed by researchers at the Naval Medical Center San Diego and Google’s AI research division, Google AI. This AI solution enhanced the precision of detecting metastatic breast cancer to 99%.

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How Is the Cancer Diagnostics Market Conceptually Defined?

Cancer diagnostics refers to the processes, tests, and technologies used to identify the presence of cancer in individuals. This field encompasses a range of methodologies designed to detect, stage, and characterize cancer, allowing for timely and effective treatment.

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