Global Cancer Diagnostics Market to Hit USD 215 Billion by 2035, Growing at 6.35% CAGR | Vantage Market Research

NEW YORK, Sept. 2, 2025 /PRNewswire/ -- According to Vantage Market Research, the cancer diagnostics market is witnessing rapid growth driven by rising global cancer prevalence, advancements in diagnostic technologies, and greater emphasis on early detection. The market was valued at USD 109.61 Billion in 2024 and is expected to nearly double to USD 215 Billion by 2035. This strong growth trajectory underscores the crucial role diagnostics play in improving survival outcomes, guiding treatment decisions, and supporting personalized medicine approaches.

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Key Takeaways:

• North America dominated the global cancer diagnostics market with over 40% share in 2024, driven by advanced healthcare infrastructure and high adoption of precision oncology
• Asia Pacific is anticipated to witness the fastest CAGR due to rising cancer incidence, expanding healthcare access, and government-led screening programs in India and China
• By Test Type, imaging tests held the largest share in 2024, owing to widespread use of CT, MRI, and PET scans in oncology
• By Application, breast cancer diagnostics accounted for the majority share, supported by growing awareness and screening initiatives

Top Key Players in The Global Cancer Diagnostics Market:

• Agilent Technologies Inc.
• Thermo Fisher Scientific Inc.
• Illumina Inc.
• Becton Dickinson and Company
• GE Healthcare
• QIAGEN N.V.
• Abbott Laboratories Inc.
• F. Hoffmann-La Roche Ltd.
• BioGenex
• Siemens Healthcare AG
• Koninklijke Philips N.V.
• bioMérieux SA
• NeoGenomics Laboratories
• Canon Medical Systems Corporation
• BioNTech SE 

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Market Overview & Potential

The global cancer diagnostics market was valued at USD 109.61 Billion in 2024 and is expected to nearly double to USD 215 Billion by 2035, underscoring its pivotal role in reducing cancer mortality rates worldwide. Diagnostics form the backbone of oncology, enabling early detection, monitoring disease progression, and guiding personalized therapies.

The market is experiencing a paradigm shift toward non-invasive and precision-based approaches, including liquid biopsy, genomics-based diagnostics, and AI-integrated imaging solutions. Liquid biopsies alone are expected to grow at more than 10% CAGR, driven by their minimally invasive nature and ability to track tumor mutations in real time. Furthermore, rising healthcare spending, coupled with the adoption of advanced screening programs across developing regions, is reinforcing long-term growth momentum.

What Factors Are Accelerating the Demand and Growth of the Cancer Diagnostics Market?

The growth of the cancer diagnostics market is being driven by a combination of rising disease prevalence, technological innovation, and supportive healthcare initiatives. With over 19 million new cancer cases and 10 million deaths annually, the global cancer burden continues to fuel demand for advanced diagnostic solutions that enable early and accurate detection, significantly improving survival rates and reducing treatment costs. Hospitals, governments, and healthcare providers are investing heavily in screening programs and molecular diagnostic tools, while the expansion of companion diagnostics is ensuring more precise treatment selection in line with the growth of precision medicine. At the same time, the integration of AI, big data, and digital pathology is enhancing diagnostic speed and accuracy, addressing the shortage of specialists and enabling predictive analytics for risk assessment. Furthermore, government-backed screening initiatives, subsidies, and insurance coverage especially in emerging economies are broadening access and affordability, creating a robust foundation for market expansion.

What are Emerging Trends Shaping the Cancer Diagnostics Market?

• Liquid Biopsy Expansion – Non-invasive tests are gaining rapid adoption for detecting minimal residual disease, monitoring cancer recurrence, and tracking therapy response in real time.
• AI and Digital Pathology – Artificial intelligence, machine learning, and digital pathology platforms are improving diagnostic accuracy, speeding up analysis, and enabling remote pathology services.
• Growth of Companion Diagnostics – Rising use of targeted therapies and immunotherapies is driving demand for biomarker-based companion diagnostics that determine patient eligibility for specific treatments.
• Point-of-Care Testing – Increasing demand for fast, affordable, and portable diagnostic solutions is supporting wider use in both advanced and resource-limited healthcare settings.
• Multi-Cancer Early Detection (MCED) Tests – Innovative blood-based tests capable of screening multiple cancers simultaneously are emerging as a breakthrough technology for early intervention and prevention.

Recent Developments

• Roche (2025) launched an AI-powered digital pathology platform to improve cancer detection speed and accuracy.
• Guardant Health (2025) expanded its liquid biopsy offerings beyond lung cancer to include colorectal and breast cancers.
• Siemens Healthineers (2025) introduced a next-gen PET-CT scanner offering faster scans with lower radiation exposure.
• Illumina (2025) partnered with European oncology centers to advance genomics-based cancer screening solutions. 

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What are Major Challenges Hindering Cancer Diagnostics Market Growth?

The cancer diagnostics market, despite its rapid growth, faces several challenges that hinder its full potential. High costs of advanced diagnostic technologies such as genomic sequencing, liquid biopsies, and imaging systems limit accessibility, especially in low- and middle-income regions. Regulatory hurdles and lengthy approval processes often delay the launch of innovative diagnostic tools, slowing market adoption. Limited reimbursement policies in many countries further restrict patient access, as out-of-pocket costs remain a significant barrier. Additionally, there is a global shortage of skilled pathologists and oncology specialists, which impacts timely and accurate diagnosis. Concerns over false positives and false negatives also persist, leading to patient anxiety, misdiagnosis, and potential delays in appropriate treatment. Together, these challenges highlight the need for cost-effective, scalable, and widely accessible diagnostic solutions.

Regional Insights

What Makes North America the Powerhouse of the Cancer Diagnostics Market?

North America dominates the global cancer diagnostics market with 41.6% market share, with the U.S. leading global adoption of advanced molecular diagnostics, companion diagnostics, and next-generation sequencing (NGS). The region benefits from strong R&D investments, a well-established regulatory framework, and widespread reimbursement coverage, which ensure faster adoption of cutting-edge cancer diagnostic technologies. With cancer being the second leading cause of death in the U.S., extensive government-backed screening programs, coupled with a robust biotech ecosystem, continue to strengthen North America's market leadership.

How Does Asia Pacific Strengthen its Position in the Global Cancer Diagnostics Market?

Asia Pacific remains at the forefront of innovation, driven by its large patient pool, rising cancer incidence, and expanding healthcare infrastructure. China and India account for a significant portion of the global cancer burden, with millions of new cases reported annually. Governments across the region are investing heavily in population-wide screening programs, subsidized diagnostics, and awareness initiatives. Rapid adoption of advanced technologies such as liquid biopsy, digital pathology, and AI-powered imaging, combined with the presence of fast-growing medical tourism hubs, is making Asia Pacific the fastest-growing regional market.

Why is Europe Emerging as a Leader in Personalized and Sustainable Cancer Diagnostics?

Europe plays a pivotal role in advancing personalized cancer diagnostics, supported by strict regulatory standards, cross-border collaborations, and growing investments in precision medicine. Countries like Germany, France, and the U.K. are spearheading the use of digital pathology and AI-based platforms, while the European Union's cancer control plan emphasizes early detection and equitable access. With a strong pharmaceutical sector and well-developed healthcare infrastructure, Europe is steadily advancing in the adoption of biomarker-driven companion diagnostics and multi-cancer early detection technologies.

How is Latin America Unlocking New Growth Opportunities in the Cancer Diagnostics Market?

Latin America is experiencing rising demand for cancer diagnostics, fueled by an increasing cancer burden and expanding healthcare reforms. Brazil and Mexico are leading the adoption of imaging technologies and government-backed screening programs, while Argentina and Chile are gradually expanding access to molecular diagnostics. Though limited by budget constraints, public-private partnerships and medical tourism are unlocking new growth opportunities, making the region a key emerging market for cancer diagnostics.

What Role Does the Middle East & Africa Play in the Cancer Diagnostics Market Expansion?

The Middle East & Africa (MEA) market is gradually expanding, supported by investments in advanced healthcare infrastructure, rising awareness campaigns, and partnerships with global diagnostic companies. Countries like Saudi Arabia and the UAE are investing in modern oncology centers as part of national healthcare transformation programs, while Africa's growing cancer burden is driving demand for cost-effective diagnostics and screening programs. Despite challenges such as affordability and limited skilled workforce, MEA is expected to play an increasingly important role in the adoption of innovative diagnostic solutions.

Segmental Insights

By Test Type

Why Did Imaging Dominate the Cancer Diagnostics Market in 2024?

Imaging dominated the cancer diagnostics market in 2024 as it remains the most widely used and trusted test type for initial detection, staging, and treatment planning across multiple cancer types. Technologies such as CT, MRI, ultrasound, mammography, and nuclear imaging continue to be the gold standard due to their ability to provide non-invasive, detailed visualization of tumors. The growing global cancer burden, coupled with rising demand for early detection, has accelerated the adoption of advanced imaging systems. Furthermore, continuous technological advancements—such as AI-assisted image analysis, higher resolution scanners, and hybrid modalities—have enhanced diagnostic accuracy, reduced turnaround times, and expanded applications in oncology. These innovations, combined with large-scale government-supported screening programs and increasing awareness of breast, lung, and colorectal cancers, positioned imaging as the leading segment in cancer diagnostics in 2024.

By Application

Which Application Segment Leads the Cancer Diagnostics Market?

Breast cancer diagnostics represent the largest application segment, fueled by high global prevalence and continuous awareness campaigns that promote early screening and detection. Mammography remains a cornerstone, but advancements such as 3D digital breast tomosynthesis, molecular imaging, and ultrasound are strengthening detection rates. Additionally, genetic testing for BRCA mutations and the integration of liquid biopsy for monitoring recurrence are reshaping the diagnostic landscape. Supportive government initiatives, combined with strong advocacy from NGOs and global health organizations, continue to drive breast cancer diagnostics as the leading application area. 

Browse market data Tables and Figures spread through 235 Pages and in-depth TOC on Cancer Diagnostics Market Forecast Report (2025-2035).

Segments Covered in The Report

By Product

• Consumables
  • Antibodies
  • Kits & reagents
  • Probes
  • Others
• Instruments
• Pathology-based Instruments
• Slide Staining Systems
• Tissue Processing Systems
• Cell Processors
• PCR Instruments
• NGS Instruments
• Microarrays
• Other Pathology-based Instruments
• Imaging Instruments
• CT Systems
• Ultrasound Systems
• MRI Systems
• Mammography Systems
• Nuclear Imaging Systems
• Others
• Services

By Technology

• IVD Testing
  • By Type
    • Diagnosis
    • Early Detection
    • Therapy Selection
    • Monitoring
  • By Technology
    • Polymerase Chain Reaction (PCR)
    • In Situ Hybridization (ISH)
    • Immunohistochemistry (IHC)
    • Next-generation Sequencing (NGS)
    • Microarrays
    • Flow Cytometry
    • Immunoassays
    • Other IVD Testing Technologies
• Imaging
  • Magnetic Resonance Imaging (MRI)
  • Computed Tomography (CT)
  • Positron Emission Tomography (PET)
  • Mammography
  • Ultrasound
  • Others
• LDT

By Application

• Breast Cancer
• Lung Cancer
• Colorectal Cancer
• Cervical Cancer
• Prostate Cancer
• Skin Cancer
• Blood Cancer
• Kidney Cancer
• Liver Cancer
• Pancreatic Cancer
• Ovarian Cancer
• Others

By Test Type

• Biopsy
  • Fine-needle Aspiration
  • Core Biopsy
  • Surgical Biopsy
  • Skin Biopsy /Punch Biopsy
  • Others
• Others

By Coverage

• Public Insurance
• Private Insurance

By End User

• Hospitals and Clinics
• Diagnostic Laboratories
• Diagnostic Imaging Centers
• Research Institutes

Region

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• France
• U.K.
• Italy
• Spain
• Nordic Countries
• Benelux Union
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• South-East Asia
• Rest of Asia Pacific
• Latin America
• Brazil
• Argentina
• Rest of Latin America
• Middle East & Africa (MEA)
• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of MEA

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Key Questions Answered in The Report:

• Which region will show the fastest and highest growth in the near future?
• Which are the top five players and their weakness and strength of the Market?
• What will be the future innovation in the upcoming six years?
• Which application and product will lead the largest share of the Market?
• What are the growth drivers, restraints and challenges of the industry?
• What will be the CAGR and size of the Cancer Diagnostics Market for the base year and forecast period?

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