Emerging Trends to Drive Cancer Diagnostics Market Growth at 12% CAGR Through 2029

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Cancer Diagnostics Market Size Growth Forecast: What to Expect by 2025?
In the past few years, there has been robust growth in the cancer diagnostics market. The market size is projected to increase from $23.24 billion in 2024 to $25.5 billion in 2025, marking a compound annual growth rate (CAGR) of 9.7%. Driving factors for the growth experienced in the historic period includes the rise in cancer cases, cancer screening initiatives, the advent of personalized medicine, and heightened public awareness.

How Will the Cancer Diagnostics Market Size Evolve and Grow by 2029?
The size of the cancer diagnostics market is poised for a fast-paced expansion in the upcoming years, with an estimated valuation of $40.07 billion in 2029. This reflects a compound annual growth rate (CAGR) of 12.0%. Factors contributing to the growth during the forecast period include the development of emerging markets, regulatory backing, advancements in artificial intelligence and machine learning, along with early detection and intervention strategies. The forecast period will also see trends like liquid biopsies, multi-omics methods, point-on-care tests, as well as screening and early intervention initiatives.

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What Drivers Are Propelling the Growth of Cancer Diagnostics Market Forward?
The rising occurrence of different types of cancers is significantly propelling the growth of the cancer diagnostics market. This is attributed to the escalating number of people choosing diagnosis and potential treatments due to the increase in cancer cases. Moreover, the World Health Organization (WHO) states that cancer is the second most lethal disease globally. The National Cancer Institute (NCI) projects that the annual count of new cancer incidences would escalate to 23.6 million by the year 2030.

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Which Emerging Trends Are Transforming the Cancer Diagnostics Market in 2025?
The AI-enabled cancer diagnosis system is a rising trend in the cancer diagnostics market. AI enhances the precision of image detection in diagnoses such as breast cancer and lung cancer by identifying the diseases at earlier stages. It also mitigates the occurrence of false positives in lung cancer checks, thereby boosting the accuracy of lung cancer detection. For instance, a dependable solution consisting of cancer-detecting algorithms for the autonomous review of lymph node biopsies was created by researchers at both the Naval Medical Center San Diego and Google AI, Google's AI research branch. This AI tool improved the precision of detecting metastatic breast cancer to 99%.

What Are the Key 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

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Who Are the Key Players Shaping the Cancer Diagnostics Market's Competitive Landscape?
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 Geographic Markets Are Powering Growth in the Cancer Diagnostics Market?
North America was the largest region in the cancer diagnostics market in 2024. 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.

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