Cancer Diagnostics Market Poised to Surge to USD 334.64 Billion by 2030, Marking a Milestone in Precision Oncology

Cancer Diagnostics Market Scope and Overview

The market size of the Cancer Diagnostics industry was estimated to be USD 193.31 billion in 2022. It is projected to witness substantial growth and reach USD 334.64 billion by 2030, with a compound annual growth rate (CAGR) of 7.1% during the forecast period from 2023 to 2030.

This robust growth can be attributed to the increasing prevalence of cancer worldwide, coupled with advancements in diagnostic technologies. As the global population continues to age and environmental factors contribute to the rise in cancer cases, the demand for accurate and efficient diagnostic tools becomes paramount.

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Furthermore, the growing awareness among individuals regarding early cancer detection and the benefits of timely treatment has fueled the adoption of cancer diagnostics. Governments and healthcare organizations are also actively promoting cancer screening programs, further driving the market growth.

In terms of market segmentation, the cancer diagnostics market encompasses various diagnostic methods such as imaging, biopsy, blood tests, and genetic testing. Among these, imaging techniques, including computed tomography (CT), magnetic resonance imaging (MRI), and positron emission tomography (PET), hold a significant market share due to their ability to provide detailed insights into tumor location and size.

Major Players Listed in the Report are as Follows:
Abbott Laboratories, Inc., Arquer Diagnostics Ltd, Exact Sciences Corporation, Biotheranostics, Cancer Diagnostics, Inc., Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., BioMark Diagnostics Inc, Illumina, Inc., Agilent Technologies, Inc., Becton, Dickinson and Company (BD), GE Healthcare, and other players.

Cancer Diagnostics Market Segmentation as Follows:

By Product
• Consumables
• Antibodies
• Probes
• Kits & Reagents
• Other Consumables
• Instruments
• Pathology-based Instruments
• Slide Staining Systems
• Cell Processors
• NGS Instruments
• Tissue Processing Systems
• Microarrays
• PCR Instruments
• Other Pathology-based Instruments
• Imaging Instruments
• CT Systems Ultrasound Systems
• MRI Systems
• Ultrasound Systems
• Mammography Systems
• Nuclear Imaging Systems
• Biopsy Instruments

By Technology
• IVD Testing
• Polymerase Chain Reaction (PCR)
• Microarrays
• In Situ Hybridization (ISH)
• Immunoassays
• Next-generation Sequencing (NGS)
• Flow Cytometry
• Immunohistochemistry (IHC)
• Other IVD Testing Technologies
• Imaging
• Magnetic Resonance Imaging (MRI)
• Positron Emission Tomography (PET)
• Mammography
• Computed Tomography (CT)
• Ultrasound
• Biopsy Technique

By Application
• Breast Cancer
• Melanoma
• Lung Cancer
• Colorectal Cancer
• Other

By End User
• Diagnostic Laboratories
• Hospitals

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Geographically, North America currently dominates the cancer diagnostics market, owing to the presence of well-established healthcare infrastructure and a high prevalence of cancer cases. However, the Asia Pacific region is expected to witness the fastest growth during the forecast period, primarily due to the increasing healthcare expenditure, rising awareness, and improving access to advanced diagnostic technologies.

Key players in the cancer diagnostics market are continuously investing in research and development activities to introduce innovative and accurate diagnostic tools. Collaborations and partnerships with healthcare providers and research institutions are also common strategies adopted by these companies to expand their market presence.

In conclusion, the cancer diagnostics market is poised for significant growth in the coming years, driven by the rising prevalence of cancer, increasing awareness, and technological advancements. With a CAGR of 7.1% over the forecast period, These factors make investing in the cancer diagnostics market a promising opportunity for both established companies and new entrants.

Table of Content
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Cancer Diagnostics Market Dynamics
Chapter 4 Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)
Chapter 5 Value Chain Analysis
Chapter 6 Porter's 5 forces model
Chapter 7 PEST Analysis
Chapter 8 Cancer Diagnostics Market Segmentation, By Product
Chapter 9 Cancer Diagnostics Market Segmentation, By Technology
Chapter 10 Cancer Diagnostics Market Segmentation, By Application
Chapter 11 Cancer Diagnostics Market Segmentation, By End user
Chapter 12 Regional Analysis
Chapter 13 Company profile
Chapter 14 Competitive Landscape
Chapter 15 Use Case and Best Practices
Chapter 16 Conclusion

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This release was published on openPR.