Cancer Diagnostics Market - Growth, Trends, COVID-19 Impact, and Forecast (2021 - 2026)

The Cancer Diagnostics Market is segmented by Diagnostic Type (Diagnostic Imaging Tests, Biopsy and Cytology Tests, Tumor Biomarkers, and Other Diagnostic Types), Application (Breast Cancer, Lung Cancer, Cervical Cancer, Kidney Cancer, Liver Cancer, Pancreatic Cancer, Ovarian Cancer, and Other Applications) and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America).

Market Snapshot

Cancer Diagnostics Market Bar Graph
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 9.7 %

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Market Overview

The cancer diagnostics market is expected to register a CAGR of 9.7% during the forecast period.

Due to the outbreak of the COVID-19, the market observed a significant setback in terms of growth. As the COVID-19 cases rose, the healthcare system shifted its focus in curbing the disease, resulting in the delay of diagnosis and treatment of other chronic conditions like cancer. Thus, a negative impact is expected on the cancer diagnostics market due to the pandemic scenario. However, in the coming years, a significant rise is expected in the diagnostic procedures related to cancer.

An increase in the number of cancer cases and the rise in the geriatric population are the major factors contributing to the growth of the cancer diagnostics market globally. According to the GLOBOCAN, 2020, about 19.3 million new cancer cases were reported worldwide, and this number is expected to reach 30.2 million new cases in the year 2040. Globally, about one out of 6 deaths occurs due to cancer, as per the World Health Organization factsheet. About 70% of deaths from cancer occur in low- and middle-income countries.

As per the World Ageing report 2019, the geriatric population (aged 65 years and above) was reported to be around 702.9 million, and this number is expected to increase to 1,548.9 million by the year 2050. Furthermore, the increase in the emergence of new technologies, like biomarkers and point of care testing, the inclination toward advanced less-painful and way more efficient tests from conventional tests, improved healthcare expenditure, growing awareness, and increased government support are factors boosting the growth of the cancer diagnostics market globally.

However, stringent regulatory framework, lack of universal health coverage, and expensive diagnostic procedures are the few factors restraining the growth of the cancer diagnostics market globally.

Scope of the Report

As per the scope of the report, cancer is a complex disease that impacts every patient differently. Comprehensive and personalized treatment starts with an accurate, thorough diagnosis that includes radiology, pathology, genetics, and advanced genomic testing. The report is segmented by diagnostic type (diagnostic imaging tests, biopsy and cytology tests, tumor biomarkers, and other diagnostic types), application (breast cancer, lung cancer, cervical cancer, kidney cancer, liver cancer pancreatic cancer, ovarian cancer, and other applications) and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the value (in USD million) for the above-mentioned segments.

By Diagnostic Type
Diagnostic Imaging Tests
Biopsy and Cytology Tests
Tumor Biomarkers
Other Diagnostic Types
By Application
Breast Cancer
Lung Cancer
Cervical Cancer
Kidney Cancer
Liver Cancer
Pancreatic Cancer
Ovarian Cancer
Other Applications
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

The Diagnostic Imaging Tests Segment is Expected to Hold a Major Market Share in the Cancer Diagnostics Market

The most commonly used screening test for cancer is diagnostic imaging tests. The different kinds of imaging techniques for cancer detection, like imaging (radiology) tests for cancer, CT scans, MRI, nuclear medicine scans, ultrasound, mammograms, X-rays, and other radiographic tests, are considered the most reliable ones.

However, screening, case identification, and referral in symptomatic cancer diagnosis were affected by the COVID-19 pandemic. Even the management and follow-up of cancer patients were affected by the pandemic. For instance, in 2020, the Netherlands Cancer Registry experienced a 40% decline in weekly cancer incidence. The United Kingdom experienced a 75% decline in referrals for suspected cancer since the onset of COVID-19​.​

Mammograms are the most widely used tests to diagnose cancers. Mammography is the gold standard technique used to screen breast cancer. Governments and other healthcare organizations worldwide are taking initiatives to provide women between 50 and 75 years access to mammography screening. In June 2019, Fujifilm Medical Systems U.S.A. announced a new breast cancer screening awareness campaign focused on early detection of the disease in the United States. The ‘Aspire to Be Fearless’ campaign involves a mobile mammography vehicle traveling throughout the United States to spread Fujifilm’s message. The vehicle includes a waiting room, dressing room, and the latest breast imaging solutions from Fujifilm.

Furthermore, the development of new technologically advanced products for cancer diagnosis is expected to support the market growth. In January 2020, Allengers launched the ACUTOM-32 CT scanner in India, collaborating with Canon Medical Systems Corporation (CMSC).​ Thus, the segment is expected to show growth in the near future due to the above-mentioned factors.

Cancer Diagnostics Market Market Share

North America is Anticipated to Observe a Significant Growth in the Global Cancer Diagnostics Market

North America is expected to majorly contribute to the cancer diagnostics market growth. With the emergence of COVID-19, the region also observed a negative impact on the market studied. According to the Union for International Cancer Controls (UICC), there is a significant decrease in cancer diagnostics rates in the United States during the pandemic. According to its survey analysis, newly diagnosed metastatic non-small cell lung cancer patient volumes declined just over 30% from February of 2020 to March 2020. Declines were also observed in colorectal cancer (14% ), acute myeloid leukemia (14%), breast cancer (8.4% ), and ovarian cancer (8.6%). Such instances indicate a decline in the diagnosis rate of cancer during the pandemic era.

The key factors contributing to the market growth are the rising burden of cancer, the development of new products, and the rising awareness of the disease.

Furthermore, as per the data provided by GLOBOCAN, 2020, about 2,281,658 new cancer cases were reported, with a 5-year prevalence of about 8,432,938 in the same year. The National Cancer Institute (NCI) stated that the national spending on cancer care is expected to reach USD 156 billion by 2020.

In January 2020, the American Cancer Society and Pfizer approved grants totaling more than USD 2.5 million in nine communities focused on reducing racial disparities and helping optimize outcomes for women facing a breast cancer diagnosis. Thus, with these factors, the market is expected to flourish in the region.

Cancer Diagnostics Market Growth Rate By Region

Competitive Landscape

The cancer diagnostics market is highly fragmented, with the presence of a large number of local and international players. Key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, mergers, and acquisitions. Some of the key players in the market are Abbott Laboratories, F. Hoffmann-La Roche Ltd, Thermo Fisher Scientifica Inc., and Qiagen.

Recent Developments

  • In September 2020, Illumina acquired GRAIL, a healthcare company specialized in multi-cancer early detection, for about USD 8 billion. The acquisition will also include the company's latest product, Galleri multi-cancer screening test.
  • In June 2020, Roche announced to launch 'uPath PD-L1 (SP263), a CE-IVD marked automated digital pathology algorithm for detecting non-small cell lung cancer. It is an image analyzer that supports diagnosing non-small cell lung cancer.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Ease of Cancer Diagnosis

      2. 4.2.2 Increasing Burden of Cancer Globally

      3. 4.2.3 Emergence of New Technologies such as Biomarkers and Point of Care Testing

    3. 4.3 Market Restraints

      1. 4.3.1 Limited Use in the Emerging Markets

      2. 4.3.2 Expensive Diagnostic Procedures

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Diagnostic Type

      1. 5.1.1 Diagnostic Imaging Tests

      2. 5.1.2 Biopsy and Cytology Tests

      3. 5.1.3 Tumor Biomarkers

      4. 5.1.4 Other Diagnostic Types

    2. 5.2 By Application

      1. 5.2.1 Breast Cancer

      2. 5.2.2 Lung Cancer

      3. 5.2.3 Cervical Cancer

      4. 5.2.4 Kidney Cancer

      5. 5.2.5 Liver Cancer

      6. 5.2.6 Pancreatic Cancer

      7. 5.2.7 Ovarian Cancer

      8. 5.2.8 Other Applications

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle-East and Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle-East and Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Abbott Laboratories Inc.

      2. 6.1.2 F. Hoffmann-La Roche Ltd

      3. 6.1.3 Siemens Healthineers

      4. 6.1.4 Thermo Fisher Scientific Inc.

      5. 6.1.5 GE Healthcare

      6. 6.1.6 Hologic Inc.

      7. 6.1.7 Illumina Inc.

      8. 6.1.8 Bio-Rad Laboratories Inc.

      9. 6.1.9 Agilent Technologies Inc.

      10. 6.1.10 Biomeriuex SA

      11. 6.1.11 Cancer Diagnostic Inc.

      12. 6.1.12 Myriad Genetic Laboratories Inc.

      13. 6.1.13 Qiagen

      14. 6.1.14 MolecularMD Corporation

      15. 6.1.15 Dako North America Inc.

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The Global Cancer Diagnostics Market market is studied from 2018 - 2026.

The Global Cancer Diagnostics Market is growing at a CAGR of 9.7% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc., Abbott Laboratories Inc., Illumina Inc, bioMérieux SA are the major companies operating in Global Cancer Diagnostics Market.

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