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Cancer Diagnostics Market Size

Report ID: GMI2406
Published Date: Nov 2024
Report Format: PDF

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Cancer Diagnostics Market Size

The global cancer diagnostics market size was valued at around USD 158.7 billion in 2024 and is estimated to grow at 9% CAGR from 2025 to 2034. Cancer diagnostics refers to the range of tests, procedures, and technologies used to detect and diagnose cancer at an early stage. The primary goal of cancer diagnostics is to identify the presence, type, location, and stage of cancer to guide appropriate treatment and improve patient outcomes.

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The global cancer diagnostics market is significantly influenced by the alarming and persistent rise in cancer prevalence worldwide. According to the World Health Organization (WHO), approximately 20 million new cancer cases and 9.7 million cancer-related deaths were reported in 2022. Further, projections indicate that by 2050, the number of new cancer cases is expected to surpass 35 million, reflecting a staggering 77% increase from the 20 million cases recorded in 2022. This rising prevalence underscores the urgent need for early and accurate diagnostic methods, driving the demand for advanced cancer diagnostic technologies such as imaging, molecular diagnostics, among others, ultimately propelling market growth.

Cancer Diagnostics Market Report Attributes
Report Attribute	Details
Base Year:	2024
Cancer Diagnostics Market Size in 2024:	USD 158.7 Billion
Forecast Period:	2025 - 2034
Forecast Period 2025 - 2034 CAGR:	9%
2034 Value Projection:	USD 372.5 Billion
Historical Data for:	2021 - 2024
No. of Pages:	135
Tables, Charts & Figures:	130
Segments covered:	Application, Cancer Type, End Use, and Region
Growth Drivers:	Rising prevalence of cancer globally Several initiatives undertaken by government and other organizations to spread disease awareness Growing number of diagnostic laboratories in developing countries Technology advancements in developed countries
Pitfalls & Challenges:	High capital investment coupled with high costs associated with diagnostic imaging systems Risk related with high radiation exposure affecting use of CT scanner

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Furthermore, technological advancements in developing countries are significantly boosting the market. Increased investments in healthcare infrastructure and innovative technologies have led to the wider availability of advanced diagnostic tools. Techniques such as molecular diagnostics, imaging technologies, and telemedicine are facilitating earlier detection and more accurate diagnoses.

Authors: Mariam Faizullabhoy , Gauri Wani

Frequently Asked Questions (FAQ) :

The global cancer diagnostics industry was valued at approximately USD 158.7 billion in 2024 and is estimated to grow at a 9% CAGR from 2025 to 2034, driven by advancements in diagnostic technologies and increasing cancer prevalence.

The liver and lung cancer segment accounted for an 18.4% market share in 2024 and is projected to reach USD 65.5 billion by 2034, fueled by rising incidences of these cancers and advancements in diagnostic methods.

The U.S. cancer diagnostics market is projected to grow significantly, reaching USD 135 billion by 2034, driven by an aging population, lifestyle choices, and environmental exposures.

Key players in the industry include Abbott Laboratories, AB Sciex Pte, Agilent Technologies, Becton, Dickinson and Company, Biocare Medical, Biocartis, Biomerieux, Bio-Rad Laboratories, Danaher Corporation, F-Hoffmann-La Roche, and GE Healthcare.