Next Generation Cancer Diagnostics Market – By Product & Service, By Technology, By Cancer Type, By Application, By End Use – Global Forecast, 2024 – 2032

Next Generation Cancer Diagnostics Market Size

The global next generation cancer diagnostics market size was valued at USD 15.5 billion in 2023 and is estimated to grow at a CAGR of 10% from 2024 to 2032. The market is expected to grow strongly owing to a growing shift towards personalized medicine, which develops treatment plans according to the patient’s genetic and molecular structure.
 

Liquid biopsy and next-generation sequencing (NGS) are some of the advanced diagnostic methods that are essential in the identification of genetic alterations and cancer type-specific biomarkers. These techniques enable earlier diagnosis, but they also assist in choosing the affected treatment which is suitable and effective.
 

Moreover, the increased research activity along with the rise in cancer incidence all over the world heightens the demand for sophisticated diagnostics. There is a shift in healthcare systems with increasing emphasis on prompt and precise diagnoses that they hope will result in improved patient care and survival rates with less cancer mortality.

For instance, cancer incidence on a worldwide scale continues to rise.
 

New statistics from the International Agency for Research on Cancer (IARC) reported more than 20 million new cancer cases worldwide for the year 2022 that are projected to reach approximately 29.9 million by the year 2040 with 15.3 million deaths caused by the disease. This rising number is surged the focus towards the improvement in cancer diagnostics, development of new cancer therapies emphasizing early detection, diligent monitoring and improved patient outcome. This growing advancement has emphasized higher adoption of technology in cancer treatment fueling the market growth.


Next-generation cancer diagnostics refers to new tools and methods permitting the diagnosis and analysis of cancer in the required degree of precision and speed. Such advances enhance disease tracking and risk assessment in particular and target therapy more efficiently. These diagnostics details the genetic, molecular and cellular structure of each type of tumor which subsequently assists in tailoring more effective treatment and surgical management of the disease. As a result, this sector is leading the transition to improved oncology management in a precision medicine framework.
 

Next Generation Cancer Diagnostics Market Trends

The increasing shift towards personalized medicine has further fueled market growth. The growing adoption of novel treatment techniques further fuels this innovation which has led to the investments in liquid biopsy, NGS, and other advanced diagnostic technologies. These novel techniques enable clinicians to conduct intricate genetic tests on patients to identify and target mutations and biomarkers. This innovation leads to more accurate detection, so the technology provides added value and advances the market.
 

• For instance, Hikma Pharmaceuticals entered into a business collaboration agreement with Guardant Health. Through this agreement, Hikma Pharmaceuticals obtained the exclusive rights to distribute and market Guardant Health’s liquid and tissue biopsy tests. These examinations are very important for cancer diagnosis, surveillance of recurrences, and tumor mutation profiling for all forms of solid cancers, including in the MENA region.
   
• In the MENA region, patients were introduced to advanced oncology NGS solutions thanks to this partnership, resulting in improved care quality in the region. The cooperation is expected to facilitate development of targeted remedies which will improve care in the region.
   

Moreover, the escalated awareness of cancer early diagnosis, coupled with an increase in the cancer occurrence rate has accentuated the need for next-generation diagnostic solutions. This need is further heightened by the increase in the use of advanced diagnostic tools.
 

Next Generation Cancer Diagnostics Market Analysis

Based on product and service, the global next-generation cancer diagnostics market is segmented into products and services. The products segment dominated the market and is expected to grow at a 9.8% CAGR over the forecast period. The products segment is further categorized into instruments and kits & consumables.
 

• The need for products is driven due to the increasing need for advanced instruments, consumables, and reagents crucial for diagnostic accuracy and efficiency in diagnoses.
   
• Substantial revenue generation is achieved in the market from the sequencing platforms, imaging devices, PCR machines, and similar diagnostic equipment as they are in high demand in diagnostic hospitals, laboratories, and research centers.
   
• Since assay kits and reagents are used one-time only, kits & consumables have a predictable demand which guarantees regular product turnover.
   
• Moreover, evidence-based medicine, clinical oncology and surgery, treatment planning, and active monitoring of treatment effectiveness are some of the factors driving the high consumption of cancer diagnostic and monitoring tools.

Segmented by technology, the global next-generation cancer diagnostics market includes next-generation sequencing (NGS), polymerase chain reaction (PCR), DNA microarrays, multiplexing, and other technologies. In 2023, the NGS segment led the market, capturing a dominant share of 32.5%.
 

• This segment of NGS prominence in the market is stemmed due to its ability to provide accurate comprehensive genomic insights.
   
• NGS technologies serve the vital purpose of identifying genetic alterations and biomarkers necessary for the early diagnosis and treatment of cancer. The increasing incidence of cancer coupled with technological improvements in NGS and lower costs of the business are some of the drivers of its uptake.
   
• Also, demand for NGS technologies in the diagnosis of cancer is expected to grow with higher focus on precision medicine and more projects in research and development.
   

Segmented by cancer type, the global next generation cancer diagnostics market encompasses breast, lung, colorectal, prostate, cervical, liver cancers, and other cancer types. In 2023, the breast cancer segment secured the largest share at 23.8% and is poised to maintain its lead throughout the forecast period.
 

• The breast cancer prominence is asserted to increasing rates of breast cancer and the attention of the markets towards its early diagnosis and targeted treatment.
   
• For instance, according to the World Health Organization (WHO), it is estimated that in 2022, around 2.3 million women around the globe were diagnosed with breast cancer, which greatly affects women's public health. This resulted in approximately 670,000 deaths during the same period. This suggests that there is a demand for better screening, early detection, and treatment processes. Such statistics not only highlight the problem of breast cancer remain highly common, but also emphasize the importance of public health, research, and ready availability of the new technology for diagnosis so as to improve the health of the patients and reduce the death rate globally.
   
• In addition to the above, practitioner’s diagnosis techniques incorporating genetic tests, mammograms and molecular profiling are improving the chances of catching and forecasting breast cancer.
   
• Furthermore, improved awareness campaigns, better screening systems, and growing government support for research and diagnosis makes this segment stronger in its position to address the concern for breast cancer.
   

Segmented by application, the global next generation cancer diagnostics market includes screening and early detection, prognostics and monitoring, therapy selection, recurrence monitoring, and other applications. The screening and early detection segment is projected to lead the market, with revenues expected to hit USD 12.2 billion by 2032.
 

• The need for screening and early detection stems primarily from the fact that diagnosis in the early stages of cancer improves prognosis.
   
• In additon, advancements in technology have set a priority on the enhancement of speed and precision in the diagnosis of cancer in the earliest stages.
   
• In addition, the increase in physicians’ and patient awareness of the importance of early detection as well as government advocacy for screening programs is generating more activity and revenue in this sector.
   

Segmented by end use, the global next generation cancer diagnostics market includes hospitals & clinics, diagnostic labs, academic & research institutions, and other users. The hospitals & clinics segment not only led the market but is also projected to grow at a rate of 9.3% during the analysis period.
 

• The increase in the use of next-generation cancer diagnostic services that facilitate remote consultations, medication management, and even patient counseling has led to the increase in prominence of cancer hospital pharmacies.
   
• These pharmacies also provide their services to rural regions and undeserved regions minimizing patients to travel minimal distances and ensuring consistent care.
   
• Furthermore, in an effort to limit physical contact, the hospitals had ensured that the patients were given the required medications which in turn increased the usage of next-generation cancer diagnostics during the COVID-19 pandemic.
   
• Thus, hospital pharmacies emphasizing spearheading towards cancer diagnostics catalyzed the market growth.

In 2023, the U.S. continues to lead the North American next generation cancer diagnostics market and is projected to maintain this dominance throughout the forecast period, with a CAGR of 9.5%.
 

• The U.S. leadership is driven by its well-developed healthcare system, large expenditures on research, and there is a focus on new technologies. The large number of biotechnology and pharmaceutical companies provides an impetus for the use of new and advanced diagnostic techniques.
   
• Moreover, considerable government funding for cancer research and promotion for early detection which enhances the strength the U.S. has over this market which is growing at a significant rate.
   

China retains the top position in the Asia Pacific next generation cancer diagnostics market in 2023.
 

• China’s edge is due to rapid health care infrastructure development, high level of R&D expenditure, and relatively high cancer prevalence.
   
• For instance, according to the Global Cancer Observatory, cancer is the principal cause of mortality across all age groups in China. Approximately 4.82 million new cases of cancer were diagnosed in the country in 2022. The burden of the disease is immense. Lung cancer has the highest incidence of cancer and leads to the rates of cancer mortality. The growing burden of development is expected to increase the need and use of sophisticated technologies for the diagnosis of these diseases.
   
• In addition, a huge population of cancer patients in China, increased awareness for f early diagnosis of cancers, coupled with a growing biotech industry in the country, place China at the forefront and helps the country retain a massive portion of the market in the region.
   

Germany maintains a significant role in the European next generation cancer diagnostics market.
 

• The country’s status is strengthened by its strong healthcare system, investment in R&D, and emphasis on technological advancement. In addition, the country’s advanced infrastructure facilitates the introduction of precision diagnostic capabilities that are fundamental in dependable cancer screening and treatment processes.
   
• Furthermore, the increasing government support, and focus from the industry alongside research institutions enhances Germany’s commitment towards cancer treatment, increasing the consumption of new age diagnostics, while firmly establishing her position as one of the strongest contributors to the growth of the market in Europe.
   

Brazil leads in revenue within the Latin American next generation cancer diagnostics market.
 

• The country’s growth is driven by its developed healthcare infrastructure and investment in medicine technology, in addition to elevated rates of cancer incidences.
   
• Also, government actions in conjunction with public and private partnership across the nation are increasing access to modern diagnosis technology.
   
• Furthermore, the concern of Brazil regarding improvement of early cancer detection, treatment and other factors is in alignment with the ever-growing market for precision targeted diagnostics which positions him as an important player in the growth of Latin America’s Markets.
   

Saudi Arabia is on the brink of significant growth in the Middle East and Africa's next-generation cancer diagnostics market.
 

• Increasing investments in healthcare and expansion of infrastructure, Saudi Arabia can achieve significant growth because of these advanced diagnostic capabilities.
   
• The government of Saudi Arabia has initiated modernization of healthcare through initiatives like Vision 2030, which puts cancer care on top of the priority list, along with using more precise diagnostics.
   
• In addition, there is growing awareness in the country towards early-stage cancers and the need for next generation diagnostics which offer better detection and personalized treatment, which is propelling the market growth further.
   

Next Generation Cancer Diagnostics Market Share

The industry for next generation cancer diagnostics is highly competitive and includes important participants concentrating on the improvement of technology and the formation of strategic business alliances as a means of gaining market share. Leading companies are continuously focusing on developing and producing advanced cancer detection systems, precision diagnostic tools, and genetic analysis. Other players are striving to expand their diagnostic offerings through R&D expenditure and collaborations. The emergence of various niche market startups has further accelerated the competition through the development of specific diagnostic tools, as well as increased the overall market’s technological innovation.
 

Next Generation Cancer Diagnostics Market Companies

Few of the prominent players operating in the next generation cancer diagnostics industry include:

• Agilent
• Almac
• Bio-Rad Laboratories
• Exact Sciences
• F. Hoffmann-La Roche
• GenScript
• Guardant Health
• Illumina
• Karkinos Healthcare
• Qiagen
• Koninklijke Philips
• Thermo Fisher Scientific
   

USPs of the company

• R&D focus on tissue and blood-based diagnostic technologies
   
• Strategic collaborations to enhance genomic profiling capabilities
   
• Strengthening partnerships with healthcare providers for widespread adoption of CGP
   

Next Generation Cancer Diagnostics Industry News

• In June 2024, Massive Bio and Mika Health partnered to enhance patient access to psycho-oncology services, NGS biomarker testing, and clinical trials. This collaboration enables free access to Mika’s digital therapeutics for treating cancer-related fatigue, anxiety, and depression, while accelerating timely, personalized treatment and testing through Massive Bio’s platform. The partnership aimed to improve comprehensive cancer care and patient outcomes.
   
• In March 2024, Hartwig Medical Foundation and Ultima Genomics collaboratively implemented Ultima’s UG 100 sequencing system and proprietary ppmSeq technology to enhance precision oncology testing and research. This partnership aimed to seek lower test costs, making comprehensive genome-based cancer diagnostics more accessible for patients, supporting better-informed treatment decisions.
   

The next generation cancer diagnostics market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments:

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Market, By Product & Service

• Products
  • Instruments
  • Kits & consumables 
• Services

Market, By Technology

• Next-generation sequencing (NGS)
• Polymerase chain reaction (PCR)
• DNA microarrays
• Multiplexing
• Other technologies

Market, By Cancer Type

• Breast cancer
• Lung cancer
• Colorectal cancer
• Prostate cancer
• Cervical cancer
• Liver cancer
• Other cancer types

Market, By Application

• Screening and early detection
• Prognostics and monitoring
• Therapy selection
• Recurrence monitoring
• Other applications

Market, By End Use

• Hospitals & clinics
• Diagnostic laboratories
• Academic & research institutions
• Other end users

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea 
• Latin America
  • Brazil
  • Mexico
  • Argentina 
• MEA
  • Saudi Arabia
  • South Africa
  • UAE