Cancer Diagnostics Market Outlook, End Users Analysis and Share by Type to 2026

Posted on 2022-06-22 by researchinsights in Healthcare // 0 Comments

San Francisco, California , USA, June 22, 2022 — /EPR Network/ —

Cancer Diagnostics Industry Overview

The global cancer diagnostics market size is expected to reach USD 249.6 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a 7.0% during the forecast period. Continual introduction of innovative products, coupled with increasing need for early diagnosis of various diseases, is a prime factor driving the market. In addition, rapid growth of the healthcare and diagnostics sector can be attributed to penetration of technologically advanced laboratory systems that have improved oncological screening in yielding accurate outcomes. Rising incidence of cancer is triggering demand for these screening tests and imaging modalities used for monitoring disease progression.

Collaborative and independent initiatives led by governments and companies are striving to raise cognizance about the benefits of early cancer diagnosis. In addition, cancer research organizations, along with public and private entities, are investing heavily on research projects to launch advanced diagnostic tools in the market, which are capable of diagnosing the disease much before the symptoms appear.

Furthermore, giant players are collaborating with governments and other agencies to enhance patient accessibility to these tests and products. For instance, Illumina, Inc. launched a new venture called GRAIL with investors, Jeff Bezos and Bill Gates, with an investment of more than USD 100 million. GRAIL is mainly focused on blood-based oncological screening for timely diagnosis of the most common tumor types through simple laboratory tests.

Cancer Diagnostics Market Segmentation

Grand View Research has segmented the global cancer diagnostics market on the basis of type, application, and region:

Based on the Type Insights, the market is segmented into Laboratory Tests, Genetic Tests, Imaging, Endoscopy, Biopsy and Others (barium enema).

The imaging segment led the market with the largest share in 2018 and is expected to maintain its prominence throughout the forecast period. Imaging modalities such as Computed Tomography (CT) scan and Magnetic Resonance Imaging (MRI) are quick, non-invasive, and pain-free diagnostic solutions. These factors are likely to drive the imaging segment at a CAGR of 8.0% over the forecast period.
In 2018, in terms of revenue share, the laboratory and genetic test segments were at par as both tests are performed in tandem to confirm the presence or absence of tumor cells and genetic mutations, respectively.

Based on the Application Insights, the market is segmented into Breast Cancer, Colorectal Cancer, Cervical Cancer, Lung Cancer, Prostate Cancer, Skin Cancer, Blood Cancer, Kidney Cancer, Liver Cancer, Pancreatic Cancer, Ovarian Cancer and Others.

The breast cancer segment captured the largest share of 14.0% in 2018 in the cancer diagnostics market. Mammography is the most common and popular screening test employed for breast tumor screening.
The continuous feeding flow type segment is expected to witness the highest CAGR over the forecast period. The lower feeding rate of continuous feeding flow as compared to intermittent feeding is one of the major factors responsible for the lucrative growth of the segment.

Cancer Diagnostics Regional Outlook

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Key Companies Profile

The companies hold a strong position in the global market mainly due to adoption of innovative products and their high R&D efforts to introduce advances in the same.

Some prominent players in the global Cancer Diagnostics market include

Abbott
Qiagen N.V.
Hoffmann-La Roche Ltd.
Siemens Healthineers
Thermo Fisher Scientific, Inc.
GE Healthcare
Hologic, Inc.
Becton Dickinson & Company
Koninklijke Philips N.V. (Philips)
Illumina, Inc.

Order a free sample PDF of the Cancer Diagnostics Market Intelligence Study, published by Grand View Research.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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