The Cancer Diagnostics Market size to grow at a CAGR of 11.3% from 2022 to 2027 | 43% of growth to originate from North America - Technavio

NEW YORK, Aug. 1, 2023 /PRNewswire/ -- The cancer diagnostics market is expected to grow by USD 12,626.21 million from 2022 to 2027, progressing at a CAGR of 11.3% as per the latest Technavio market research report. North America is estimated to contribute 43% to the growth of the global market during the forecast period. This growth is due to factors such as the presence of many established medical facilities such as the Mayo Clinic in Rochester, New York University, Langone Hospital in New York, NY, Mayo Clinic Rochester NY, and Memorial Sloan Kettering Cancer Center. Furthermore, these medical facilities offer state-of-the-art infrastructure and advanced treatment solutions in the region. As regional medical institutions focus on cancer diagnostics to treat different types of cancer, there is a demand for the development of personalized medicine and related cancer diagnostics. Hence, these factors are expected to drive market growth in the region during the forecast period. For more insights on the market share of various regions- Download a sample report in MINUTES

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Cancer Diagnostics Market: Market Dynamics

Key Drivers

The high prevalence of cancer is a key driver shaping the market growth. Cancers that can cause lung, stomach, kidney, head, throat, and larynx cancers are on the rise due to factors such as unhealthy eating habits, lack of exercise, and excessive tobacco and alcohol consumption. One of the most common methods for detecting cancer is molecular and companion diagnostics. Hence, the availability of several treatments is expected to drive market growth during the forecast period.

Major Trends

The increase in R&D and advances in technology is a major trend in the market. Several vendors are investing heavily in research and development to develop new diagnostic equipment for cancer diagnosis and treatment. For instance, the development of nanoparticle-based cancer therapies using gold nanoparticles is one of the approaches. Moreover, this approach will help to effectively monitor target tumors, allowing us to better understand the impact of anticancer drugs on tumors. Hence, the rising R&D investments and technologies are expected to drive market growth during the forecast period.

Significant Challenges

The high cost of developing companion diagnostics is one of the significant challenges restricting market growth. Biomarkers are biomolecules in the human body that are one of the key building blocks that help identify various biologically measurable medical conditions and are increasingly used as diagnostic tools. The development of novel and useful biomarkers is an expensive, lengthy, and time-consuming process. In addition, the initial cost of biomarker development is particularly high which is creating a negative impact in the market. as Hence, these factors are expected to restrict the market growth during the forecast period.

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Some of the key Cancer Diagnostics Market Players:

The cancer diagnostics market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Abbott Laboratories, Agilent Technologies Inc., Astellas Pharma Inc., Becton Dickinson, and Co., bioMerieux SA, Bristol Myers Squibb Co., Eli Lilly and Co., F. Hoffmann La Roche Ltd., General Electric Co., GlaxoSmithKline Plc, Hologic Inc., Illumina Inc., Merck KGaA, Myriad Genetics Inc., Novartis AG, Pfizer Inc., QIAGEN NV, Quest Diagnostics Inc., Siemens AG, and Thermo Fisher Scientific Inc.

Cancer Diagnostics Market: Segmentation Analysis

This market research report segments the cancer diagnostics market by end-user (hospitals and clinics and diagnostic laboratories), type (IVD, imaging, and LDT), and geography (North America, Europe, APAC, and the Rest of the World (ROW)).

• The market share growth by the hospitals and clinics segment will be significant during the forecast period. Improved patient care and satisfaction, improved point-of-care (POC) operations, and increased profitability to drive cost savings are the key benefits that cancer diagnostics bring to hospitals and clinics. In addition, the increasing incidence of chronic cancers and the presence of skilled professionals contribute significantly to the revenues of the hospital sector. Hence, these factors are expected to drive segment growth during the forecast period.

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Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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Table of Contents

1 Executive Summary

• 1.1 Market Overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global cancer diagnostics market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on global cancer diagnostics market 2017 - 2021 ($ million)

• 4.2 End-user Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – End-user Segment 2017 - 2021 ($ million)

• 4.3 Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by End-user

• 6.1 Market segments
• Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)

• 6.2 Comparison by End-user 
• Exhibit 32: Chart on Comparison by End-user
• Exhibit 33: Data Table on Comparison by End-user

• 6.3 Hospitals and clinics - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Hospitals and clinics - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Hospitals and clinics - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Hospitals and clinics - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Hospitals and clinics - Year-over-year growth 2022-2027 (%)

• 6.4 Diagnostic laboratories - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Diagnostic laboratories - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Diagnostic laboratories - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Diagnostic laboratories - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Diagnostic laboratories - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by End-user 
• Exhibit 42: Market opportunity by End-user ($ million)
• Exhibit 43: Data Table on Market opportunity by End-user ($ million)

7 Market Segmentation by Type

• 7.1 Market segments
• Exhibit 44: Chart on Type - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type
• Exhibit 46: Chart on Comparison by Type
• Exhibit 47: Data Table on Comparison by Type

• 7.3 IVD - Market size and forecast 2022-2027 
• Exhibit 48: Chart on IVD - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on IVD - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on IVD - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on IVD - Year-over-year growth 2022-2027 (%)

• 7.4 Imaging - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Imaging - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Imaging - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Imaging - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Imaging - Year-over-year growth 2022-2027 (%)

• 7.5 LDT - Market size and forecast 2022-2027 
• Exhibit 56: Chart on LDT - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on LDT - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on LDT - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on LDT - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Type 
• Exhibit 60: Market opportunity by Type ($ million)
• Exhibit 61: Data Table on Market opportunity by Type ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 63: Chart on Market share by geography 2022-2027 (%)
• Exhibit 64: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 65: Chart on Geographic comparison
• Exhibit 66: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027 
• Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027 
• Exhibit 75: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 Rest of World (ROW) - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)

• 9.7 US - Market size and forecast 2022-2027 
• Exhibit 83: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.8 Germany - Market size and forecast 2022-2027 
• Exhibit 87: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.9 Canada - Market size and forecast 2022-2027 
• Exhibit 91: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.10 China - Market size and forecast 2022-2027 
• Exhibit 95: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.11 France - Market size and forecast 2022-2027 
• Exhibit 99: Chart on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.12 Market opportunity by geography 
• Exhibit 103: Market opportunity by geography ($ million)
• Exhibit 104: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 105: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 107: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 108: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 109: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 110: Matrix on vendor position and classification

• 12.3 Abbott Laboratories
• Exhibit 111: Abbott Laboratories - Overview
• Exhibit 112: Abbott Laboratories - Business segments
• Exhibit 113: Abbott Laboratories - Key news
• Exhibit 114: Abbott Laboratories - Key offerings
• Exhibit 115: Abbott Laboratories - Segment focus

• 12.4 Agilent Technologies Inc. 
• Exhibit 116: Agilent Technologies Inc. - Overview
• Exhibit 117: Agilent Technologies Inc. - Business segments
• Exhibit 118: Agilent Technologies Inc. - Key offerings
• Exhibit 119: Agilent Technologies Inc. - Segment focus

• 12.5 Becton Dickinson and Co. 
• Exhibit 120: Becton Dickinson and Co. - Overview
• Exhibit 121: Becton Dickinson and Co. - Business segments
• Exhibit 122: Becton Dickinson and Co. - Key news
• Exhibit 123: Becton Dickinson and Co. - Key offerings
• Exhibit 124: Becton Dickinson and Co. - Segment focus

• 12.6 Bristol Myers Squibb Co. 
• Exhibit 125: Bristol Myers Squibb Co. - Overview
• Exhibit 126: Bristol Myers Squibb Co. - Product / Service
• Exhibit 127: Bristol Myers Squibb Co. - Key news
• Exhibit 128: Bristol Myers Squibb Co. - Key offerings

• 12.7 Eli Lilly and Co.
• Exhibit 129: Eli Lilly and Co. - Overview
• Exhibit 130: Eli Lilly and Co. - Product / Service
• Exhibit 131: Eli Lilly and Co. - Key news
• Exhibit 132: Eli Lilly and Co. - Key offerings

• 12.8 F. Hoffmann La Roche Ltd. 
• Exhibit 133: F. Hoffmann La Roche Ltd. - Overview
• Exhibit 134: F. Hoffmann La Roche Ltd. - Business segments
• Exhibit 135: F. Hoffmann La Roche Ltd. - Key news
• Exhibit 136: F. Hoffmann La Roche Ltd. - Key offerings
• Exhibit 137: F. Hoffmann La Roche Ltd. - Segment focus

• 12.9 General Electric Co.
• Exhibit 138: General Electric Co. - Overview
• Exhibit 139: General Electric Co. - Business segments
• Exhibit 140: General Electric Co. - Key news
• Exhibit 141: General Electric Co. - Key offerings
• Exhibit 142: General Electric Co. - Segment focus

• 12.10 GlaxoSmithKline Plc
• Exhibit 143: GlaxoSmithKline Plc - Overview
• Exhibit 144: GlaxoSmithKline Plc - Business segments
• Exhibit 145: GlaxoSmithKline Plc - Key news
• Exhibit 146: GlaxoSmithKline Plc - Key offerings
• Exhibit 147: GlaxoSmithKline Plc - Segment focus

• 12.11 Hologic Inc.
• Exhibit 148: Hologic Inc. - Overview
• Exhibit 149: Hologic Inc. - Business segments
• Exhibit 150: Hologic Inc. - Key news
• Exhibit 151: Hologic Inc. - Key offerings
• Exhibit 152: Hologic Inc. - Segment focus

• 12.12 Illumina Inc.
• Exhibit 153: Illumina Inc. - Overview
• Exhibit 154: Illumina Inc. - Business segments
• Exhibit 155: Illumina Inc. - Key news
• Exhibit 156: Illumina Inc. - Key offerings
• Exhibit 157: Illumina Inc. - Segment focus

• 12.13 Merck KGaA
• Exhibit 158: Merck KGaA - Overview
• Exhibit 159: Merck KGaA - Business segments
• Exhibit 160: Merck KGaA - Key news
• Exhibit 161: Merck KGaA - Key offerings
• Exhibit 162: Merck KGaA - Segment focus

• 12.14 Novartis AG
• Exhibit 163: Novartis AG - Overview
• Exhibit 164: Novartis AG - Business segments
• Exhibit 165: Novartis AG - Key offerings
• Exhibit 166: Novartis AG - Segment focus

• 12.15 QIAGEN NV
• Exhibit 167: QIAGEN NV - Overview
• Exhibit 168: QIAGEN NV - Product / Service
• Exhibit 169: QIAGEN NV - Key news
• Exhibit 170: QIAGEN NV - Key offerings

• 12.16 Quest Diagnostics Inc. 
• Exhibit 171: Quest Diagnostics Inc. - Overview
• Exhibit 172: Quest Diagnostics Inc. - Business segments
• Exhibit 173: Quest Diagnostics Inc. - Key offerings
• Exhibit 174: Quest Diagnostics Inc. - Segment focus

• 12.17 Thermo Fisher Scientific Inc. 
• Exhibit 175: Thermo Fisher Scientific Inc. - Overview
• Exhibit 176: Thermo Fisher Scientific Inc. - Business segments
• Exhibit 177: Thermo Fisher Scientific Inc. - Key news
• Exhibit 178: Thermo Fisher Scientific Inc. - Key offerings
• Exhibit 179: Thermo Fisher Scientific Inc. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 180: Inclusions checklist
• Exhibit 181: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 182: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 183: Research methodology
• Exhibit 184: Validation techniques employed for market sizing
• Exhibit 185: Information sources

• 13.5 List of abbreviations
• Exhibit 186: List of abbreviations

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