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What Is The Expected Market Value Outlook For The Cancer In Vitro Diagnostics (IVD) Market Through 2030?
The cancer profiling market has seen significant growth in recent years. This market is projected to expand from $15 billion in 2025 to $16.67 billion in 2026, exhibiting a compound annual growth rate (CAGR) of 11.1%. Factors contributing to this historical growth include a rise in cancer incidence, the proliferation of molecular diagnostics laboratories, the early incorporation of genomic testing in oncology, an increase in research-driven cancer profiling activities, and the growing accessibility of diagnostic platforms.
The cancer profiling market is anticipated to experience significant expansion in the coming years. This market is projected to reach $25.62 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 11.3%. Factors contributing to this growth over the forecast period include a rising demand for precision medicine methods, the broadening scope of companion diagnostics, the expanding application of liquid biopsy technologies, escalating investments in oncology diagnostics, and the increasing incorporation of profiling into standard clinical practices. Key trends during this period encompass the growing acceptance of NGS-based cancer profiling, an increase in the utilization of comprehensive genomic panels, the surging integration of AI in data analysis, the broadening of personalized oncology diagnostics, and a heightened emphasis on early molecular detection.
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What Major Growth Factors Are Impacting The Cancer In Vitro Diagnostics (IVD) Market?
The cancer profiling market is anticipated to expand due to the rising occurrence of cancer. Cancer incidence denotes the count of new cancer cases identified within a specific population during a given timeframe. This increased incidence of cancer is attributed to factors such as urbanization, an expanding aging population, evolving lifestyles, and both environmental and genetic influences. Cancer profiling helps in pinpointing specific molecular or genetic alterations in a tumor, including gene mutations or other modifications in tumor DNA, which is beneficial throughout the cancer treatment process. For example, in July 2024, the Australian Institute of Health and Welfare, an Australia-based government agency, stated that an estimated 165,000 Australians were newly diagnosed with cancer in 2023, translating to over 450 cases each day, with males accounting for approximately 55% of these diagnoses. Consequently, the growing incidence of cancer is a key factor propelling the growth of the cancer profiling market.
What Key Segment Areas Are Included In The Cancer In Vitro Diagnostics (IVD) Market Assessment?
The cancer in vitro diagnostics (ivd) market covered in this report is segmented –
1) By Product Type: Reagents And Kits, Instruments, Software And Services
2) By Technology: Clinical Chemistry, Immunochemistry Or Immunoassays, Hematology, Coagulation And Hemostasis, Cytogenetics Or Liquid Biopsy Technologies, Molecular Diagnostics, Other Technology
3) By Cancer Type: Breast Cancer, Lung Cancer, Prostate Cancer, Colorectal Cancer
4) By End-Users: Hospitals, Laboratories, Academics, Point-Of-Care Testing, Specialty Oncology Diagnostic Centers, Other End Users
Subsegments:
1) By Reagents And Kits: PCR Reagents And Kits, NGS Reagents And Kits, Immunoassay Reagents And Kits, In Situ Hybridization (ISH) Reagents And Kits, Others
2) By Instruments: PCR Instruments, NGS Instruments, Immunoassay Analyzers, ISH Instruments, Others
3) By Software And Services: Data Analysis Software, Laboratory Information Management Systems, Cloud-Based Data Management, Instrument Integration Software, Support And Maintenance Services
Which Trends Are Guiding The Development Of The Cancer In Vitro Diagnostics (IVD) Market?
Leading companies within the cancer profiling market are concentrating on technological advancements such as simultaneous whole-exome sequencing (WES) and whole-transcriptome sequencing (WTS) assays. These innovations aim to provide more comprehensive, tissue-sparing, and clinically actionable molecular diagnostics for precision oncology. These assays integrate DNA (exome) and RNA (transcriptome) analysis within a single workflow, enabling the detection of genomic variants like SNVs, indels, and copy-number alterations, alongside gene expression or fusion events. This approach contrasts with traditional NGS tests, which typically require separate assays or limited gene panels. For example, in November 2024, Caris Life Sciences, a US-based precision medicine company, obtained FDA approval for MI Cancer Seek, an NGS in vitro diagnostic that performs WES and WTS concurrently. This assay utilizes total nucleic acid (TNA) from FFPE tumor tissue to identify single-nucleotide variants, insertions or deletions across 228 genes, microsatellite instability (MSI), tumor mutational burden (TMB), and copy-number amplifications in breast cancer. By consolidating DNA and RNA profiling into one test, it effectively preserves tissue, delivers clinically actionable companion diagnostic (CDx) indications across multiple tumor types, and accelerates therapy selection through a unified genomic blueprint.
Who Are The Prominent Players Across The Cancer In Vitro Diagnostics (IVD) Market?
Major companies operating in the cancer in vitro diagnostics (ivd) market are F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Siemens Healthineers AG, Hologic Inc., Illumina Inc., Sysmex Corporation, Exact Sciences Corporation, Bio-Rad Laboratories Inc., QIAGEN N.V., Autobio Diagnostics Co Ltd., Transasia Bio-Medicals Ltd., NanoString Technologies Inc., Genetron Holdings Limited, Cancer Diagnostics Inc., J. Mitra & Co. Pvt Ltd., Tulip Diagnostics Pvt Ltd., Guardant Health Inc., Agilent Technologies Inc., BGI Genomics
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Which Region Is The Dominant Market In The Cancer In Vitro Diagnostics (IVD) Market?
North America was the largest region in the cancer in vitro diagnostics (IVD) market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cancer in vitro diagnostics (ivd) market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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