Next Generation Cancer Diagnostics Market Size - By Product & Service, By Technology, By Cancer Type, By Application, By End Use, 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 experiencing robust growth, driven by a global pivot towards personalized medicine, which customizes treatments based on individual genetic and molecular profiles. Cutting-edge diagnostic technologies, such as next-generation sequencing (NGS) and liquid biopsy, play a pivotal role in accurately pinpointing genetic mutations and biomarkers associated with specific cancer types. This capability not only enhances early detection but also refines the selection of targeted therapies.
 

Moreover, as cancer incidence rates climb globally and research into novel biomarkers intensifies, the demand for these advanced diagnostics surges. Healthcare systems are increasingly prioritizing accurate and timely diagnoses, aiming to bolster patient outcomes and curtail cancer-related mortality.
 

For context, the global cancer burden is on an upward trajectory. Data from the International Agency for Research on Cancer (IARC) highlights that in 2022, there were approximately 20 million new cancer cases reported globally. Projections for 2040 are concerning, with estimates suggesting annual new cancer cases could soar to 29.9 million, and cancer-related fatalities might touch 15.3 million. Such a steep rise accentuates the urgent need for enhanced cancer diagnostics and therapeutic strategies, emphasizing early detection, diligent monitoring, and improved patient outcomes. Given this backdrop, a surge in technology adoption for cancer care is on the horizon.
 

Next-generation cancer diagnostics encompass state-of-the-art technologies and methodologies that facilitate precise, early detection and tailored analysis of cancer. These innovations not only bolster disease monitoring and risk assessment but also refine the selection of targeted therapies. With a focus on precision, these diagnostics illuminate the unique genetic, molecular, and cellular traits of tumors, paving the way for superior clinical outcomes and more potent treatment strategies. As such, this market stands at the forefront of revolutionizing cancer care through the lens of precision medicine.
 

Next Generation Cancer Diagnostics Market Trends

As healthcare increasingly prioritizes personalized medicine, the market is witnessing notable growth. The shift towards tailored treatment plans has led to a heightened demand for advanced diagnostic technologies, such as NGS and liquid biopsies. These cutting-edge technologies facilitate precise genetic profiling, empowering clinicians to pinpoint specific mutations and biomarkers. This capability not only enhances early detection but also bolsters monitoring, fueling the market's expansion. 
 

• For instance, Hikma Pharmaceuticals forged an exclusive partnership with Guardant Health. This collaboration granted Hikma Pharmaceuticals the exclusive rights to commercialize and promote Guardant Health’s liquid and tissue biopsy tests. These tests are pivotal for cancer screening, monitoring recurrences, and profiling tumor mutations across all solid cancers, specifically in the MENA region.
   
• As a result of this partnership, patients in the MENA region gained access to advanced NGS solutions, marking a significant advancement in regional oncology care. The collaboration is poised to bolster the development of targeted therapies, thereby enhancing patient outcomes in the area.
   

Moreover, with cancer rates on the rise and an increasing awareness of the significance of early detection, there's a pronounced demand for next-generation diagnostic solutions. This demand is further amplified by the growing adoption of advanced diagnostic technologies.
 

Next Generation Cancer Diagnostics Market Analysis

Based on product and service, the 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 growing demand for advanced instruments, consumables, and reagents crucial for diagnostic accuracy and efficiency has propelled the demand for products.
   
• Instruments like sequencing platforms, PCR machines, and imaging devices are extensively used in hospitals, labs, and research institutions, driving substantial market revenue.
   
• In addition, kits & consumables such as assay kits and reagents see steady demand due to their one-time use nature, ensuring continuous product turnover.
   
• This dominance is further reinforced by technological advancements that make these tools essential for precise cancer diagnostics and monitoring.
   

Segmented by technology, the 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%.
 

• The NGS segment's leadership stems from its unmatched capability to swiftly and accurately deliver comprehensive genomic insights.
   
• NGS technologies play a crucial role in pinpointing genetic mutations and biomarkers, which are essential for early cancer detection and tailored treatment approaches. Factors such as the rising cancer prevalence, technological advancements in NGS, and declining costs are propelling its adoption.
   
• Moreover, the heightened emphasis on precision medicine and ongoing research initiatives are amplifying the demand for NGS in cancer diagnostics, setting the stage for its continued growth.
   

Segmented by cancer type, the 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 prominence of breast cancer in the market is attributed to its rising incidence and the growing focus on early detection and personalized treatment.
   
• As per the World Health Organization (WHO), 2022 saw around 2.3 million global diagnoses of breast cancer in women, emphasizing its profound impact on women's health. This led to approximately 670,000 fatalities, highlighting the urgent need for effective screening, timely detection, and enhanced treatment methods. Such figures not only underscore the persistent challenge of breast cancer but also stress the significance of public health efforts, research progress, and access to cutting-edge diagnostic tools to improve patient outcomes and curtail global mortality rates.
   
• Moreover, advancements in diagnostic methods like genetic testing, mammography, and molecular profiling are bolstering the accuracy of breast cancer detection and prognosis.
   
• Heightened awareness campaigns, refined screening protocols, and governmental backing for research and diagnostics further solidify the segment's leading position, showcasing a robust commitment to effectively combat 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 demand for screening and early detection is largely driven by the significant impact early diagnosis has on enhancing cancer survival rates.
   
• Technological advancements are focused on improving the speed and accuracy of initial-stage cancer detection.
   
• Moreover, heightened awareness among patients and healthcare professionals regarding the significance of early detection, alongside governmental pushes for screening initiatives, are fueling growth and revenue in this segment.
   

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 stronghold of hospital pharmacies is attributed to their growing adoption of next-generation cancer diagnostic services, which streamline remote consultations, medication management, and patient counseling.
   
• These pharmacies extend their services to rural and underserved regions, minimizing patient travel and ensuring consistent care post-discharge.
   
• During the COVID-19 pandemic, the demand for next-generation cancer diagnostics surged as hospitals aimed to reduce in-person interactions while ensuring patients had access to medications.
   
• This highlighted the pivotal role of hospital pharmacies in spearheading the adoption and growth of the market.
  
   

U.S. next-generation cancer diagnostics market is poised to expand at a CAGR of 9.5% through 2032.
 

• The U.S. leads the market, driven by its advanced healthcare infrastructure, significant investments in research and development, and a strong emphasis on innovation. The presence of leading biotechnology and pharmaceutical companies accelerates the adoption of cutting-edge diagnostic technologies.
   
• Moreover, robust government support for cancer research and heightened public awareness of early detection bolster the U.S.'s leadership in this rapidly evolving market.
   

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

• China’s leadership is fueled by swift advancements in healthcare infrastructure, substantial R&D investments, and a pronounced incidence of cancer.
   
• As per the Global Cancer Observatory, cancer stands as the primary cause of death in China. In 2022, the nation reported around 4.82 million new cancer cases, underscoring the disease's significant burden. Lung cancer, being the most prevalent, also leads in cancer-related deaths. This escalating cancer burden is set to amplify the demand for advanced diagnostic technologies in the country.
   
• Furthermore, China's vast patient population, growing awareness of early cancer detection, and a burgeoning biotech industry solidify its dominant stance and substantial market share in the region.
   

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

• Germany's stature is bolstered by its robust healthcare system, substantial R&D investments, and a pronounced focus on technological innovation. The nation’s advanced infrastructure paves the way for adopting precision diagnostic tools, crucial for early cancer detection and personalized treatments.
   
• Moreover, Germany’s dedication to cancer research, buoyed by government initiatives and collaborations between industry and research institutions, propels the demand for next-generation diagnostics, cementing its status as a pivotal player in Europe's market growth.
   

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

• Brazil's standing is attributed to its advanced healthcare infrastructure, notable investments in medical technology, and elevated cancer incidence rates.
   
• Moreover, government initiatives, coupled with collaborations between public and private healthcare sectors, are broadening access to advanced diagnostic technologies.
   
• Additionally, Brazil's focus on enhancing early cancer detection and personalized treatment resonates with the rising demand for precision diagnostics, establishing it as a key player in Latin America's market growth.
   

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

• Saudi Arabia is poised for significant growth due to rising healthcare investments, expanding infrastructure, and a focus on advanced diagnostic capabilities.
   
• The Saudi government’s initiatives, like Vision 2030, emphasize healthcare modernization and prioritize cancer care advancements, increasing the adoption of precision diagnostics.
   
• Additionally, the country is seeing increased awareness of early cancer detection, leading to higher demand for next-generation diagnostics which offer better detection and personalized treatment options, further accelerating market growth.
   

Next Generation Cancer Diagnostics Market Share

The next generation cancer diagnostics industry is highly competitive, with key players focusing on technological advancements and strategic collaborations to enhance market presence. Leading companies dominate the market with their innovative platforms for early cancer detection, precision diagnostics, and genetic analysis. Other prominent players are striving to expand their diagnostic offerings through R&D investments and partnerships. Startups are also contributing significantly by developing niche diagnostic solutions, further intensifying competition and driving technological progress across the market.
 

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
   

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