Primary Catalyst Driving Cancer Diagnostics Market Evolution in 2025: Rising Cancer Prevalence Rate In Cancer Diagnostics Market Driver

What Is the Future Outlook for the Cancer Diagnostics Market's Size and Growth Rate?
In the past few years, there has been a rapid expansion in the market size of cancer diagnostics. It's expected to swell from $23.24 billion in 2024 to a substantial $25.73 billion in 2025, showcasing a compound annual growth rate (CAGR) of 10.7%. The surge during the historical period can be ascribed to the rising cases of cancer, the implementation of cancer screening programs, the advent of personalized medicine, as well as an increase in public awareness.

In the coming years, a swift expansion is anticipated in the cancer diagnostics market size. It is projected to escalate to $40.82 billion in 2029 with a compound annual growth rate (CAGR) of 12.2%. The predicted growth during this forecast period can be credited to the expansion in emerging markets, regulatory backing, progress in artificial intelligence and machine learning, and emphasis on early detection and intervention. Notable trends for the period include the emergence of liquid biopsies, multi-omics methods, point-of-care testing, and campaigns focusing on screening and early intervention.

What Is Stimulating Growth in the Cancer Diagnostics Market?
The cancer diagnostics market is significantly driven by the high occurrence rates of assorted forms of cancers. This surge emerges as escalating instances of various cancers globally have led to an increased number of individuals opting for diagnostic procedures and treatment. The World Health Organization (WHO) actually ranked cancer as the second most common cause of mortality globally. As per the estimations of The National Cancer Institute (NCI), there's an expectation for annual new cancer diagnoses to climb to 23.6 million by the year 2030.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=2570&type=smp

Which Key Market Leaders Are Driving Cancer Diagnostics Industry Growth?
Major companies operating in the cancer diagnostics market include Abbott Laboratories, Becton dic*kinson and Company, Hologic, GE Healthcare Ltd., Thermo Fisher Scientific, Siemens Healthcare GmbH, Accuray, Elekta AB, C.R. BardInc., Biogenex Laboratories, Eckert & Ziegler BEBIG, Veracyte, PathAI, Bio-Rad Laboratories, Biochain, DiagnoCure, Illumina, Myriad Genetics, CompanionDx, Epic Sciences, Eli Lilly and Co, Genomic Health, Affymetrix, Agilent Technologies, Adaptive Biotechnologies, Biocartis, Biocept, Cancer Genetics Inc., Caris Life Sciences, Cepheid, Epigenomics AG, Exact Sciences, Foundation Medicine, GenMark Diagnostics, Guardant Health, HalioDX, IBA group, Invitae Corporation, Medtronic plc, NanoString Technologies, Natera, NeoGenomics, Oncura Inc., PerkinElmer, Personal Genome Diagnostics, Qiagen, Roche Diagnostics, Theragenics Corporation, Varian Medical SystemsInc.

What Are the Emerging Trends in the Cancer Diagnostics Industry?
The expansion of AI-powered systems for detecting cancer is a new development currently shaping the cancer diagnostics market. These systems play a pivotal role in enhancing the precision of image detection associated with diagnostic procedures such as lung and breast cancer, by identifying cancer in its early stages. Additionally, AI assists in diminishing the cases of false positives during lung cancer screening, thus elevating the precision of lung cancer detection. For example, the Naval Medical Center San Diego and Google AI, a division of Google's Artificial Intelligence research, have designed a dependable solution. This solution consists of algorithms that detect cancer and are utilized for independent examination of lymph node biopsies. As a result, the accuracy of detecting metastatic breast cancer was boosted to 99%.

What Are the Main Segments in the Cancer Diagnostics Market?
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

Pre-Book Your Report Now For A Swift Delivery:
https://www.thebusinessresearchcompany.com/report/cancer-diagnostics-global-market-report

Which Geographic Area Leads the Cancer Diagnostics Market?
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 Is Covered In The Cancer Diagnostics Global Market Report?

- Market Size Analysis: Analyze the Cancer Diagnostics Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Cancer Diagnostics Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Cancer Diagnostics Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Cancer Diagnostics Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=2570

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.