Dublin, July 23, 2025 (GLOBE NEWSWIRE) -- The "Cancer Diagnostics Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2025-2034)" report has been added to ResearchAndMarkets.com's offering.
The global cancer diagnostics market was valued at USD 23.84 Billion in 2024, driven by the rising prevalence of cancer and increasing awareness and early detection initiatives across the globe. The market is anticipated to grow at a CAGR of 11.50% during the forecast period of 2025-2034, with the values likely to reach USD 70.80 Billion by 2034 . 
Cancer diagnostics involves identifying cancer early to improve treatment outcomes. It typically starts with a clinical evaluation, including physical exams and medical history reviews. Diagnostic tests like imaging (X-rays, CT scans, MRIs, PET scans) detect abnormalities, while blood tests identify cancer markers. Biopsies, where tissue samples are examined under a microscope, confirm malignancy and provide detailed information about the tumour.
Advanced methods, such as molecular testing, identify genetic mutations to guide personalised treatments. Screening programmes, like mammograms and colonoscopies, help detect cancer in its early stages. Accurate diagnostics are essential for effective treatment planning and monitoring of disease progression.
Cancer Diagnostics Market Growth Drivers
Rising Merger and Acquisition Activities to Accelerate Market Growth
Increasing demand for specialised cancer diagnostics and expanding healthcare access in emerging regions are major drivers of growth in the market. For instance, in December 2024, Metropolis Healthcare Limited announced its acquisition of Core Diagnostics, based in Delhi NCR, for USD 29.62 million. This acquisition aims to strengthen Metropolis' cancer testing services and enhance its footprint across Northern and Eastern India.
With Core Diagnostics' extensive oncology portfolio and its established network of 200 cities, this move will drive market expansion and enhance diagnostic capabilities. The deal is set to propel Metropolis into a leading position, stimulating market growth in the forecast period by offering advanced cancer diagnostics to a wider demographic.
Increasing Fundings and Investments to Meet Rising Cancer Diagnostics Market Demand
Growing investments in innovative cancer therapies and advancements in radiotherapy are key drivers for the expanding market. For instance, in November 2024, ARC Innovation, part of Sheba Medical Center, secured USD 5.1 million in funding for Starget Pharma, a startup developing targeted radioligand therapies for precise cancer diagnosis and treatment.
With funding from the Cancer Focus fund, supported by MD Anderson Cancer Center, Starget Pharma plans to conduct clinical trials on cancers such as sarcomas and melanoma. This breakthrough in cancer diagnostics and treatment will likely enhance the efficacy of therapies and offer new diagnostic tools, positioning this technology to significantly impact the global market in the forecast period.
Cancer Diagnostics Market Trends
Advanced Liquid Biopsy Technologies and Early Detection Methods Fuelling Market Growth
The market is experiencing the rapid adoption of liquid biopsy technologies, which enable the detection of genetic mutations and biomarkers through blood samples. These non-invasive diagnostic tools are revolutionizing cancer detection by offering early diagnosis and real-time monitoring of treatment response. Liquid biopsy's increased accuracy and reduced patient discomfort are contributing to its growing popularity, particularly in precision oncology. As healthcare systems focus on improving early cancer detection, this technology's market demand is expected to rise significantly. Furthermore, advancements in molecular biology and bioinformatics will further boost its integration into clinical practice, expanding its market value.
Integration of Advanced Technologies to Impact the Cancer Diagnostics Market Value Positively
Artificial intelligence (AI) and machine learning (ML) are playing a pivotal role in transforming the global cancer diagnostics market. AI-powered diagnostic tools enhance the accuracy of medical imaging, enabling early-stage cancer identification through pattern recognition and predictive analytics.
These technologies not only improve diagnostic precision but also streamline workflow efficiencies, reduce human errors, and enhance treatment outcomes. With substantial investments being poured into AI in healthcare, the demand for AI-driven diagnostic solutions is growing. As the technology continues to evolve, its integration into cancer diagnostics will significantly increase market growth, driving future market value and development in the healthcare sector.
Strategic Partnerships Poised to Drive Cancer Diagnostics Market Growth
The growing demand for precise and personalised cancer diagnostics is driving strategic collaborations in the field. For instance, in August 2024, Hitachi High-Tech Corporation and Gencurix, Inc. formed a partnership to develop cancer molecular diagnostics. By combining Hitachi's expertise in in vitro diagnostics and digital technologies with Gencurix's proficiency in biomarker discovery, the two companies aim to create advanced testing services.
After a successful feasibility study, both companies are now set to commercialise these services in Japan. This collaboration will likely enhance the availability of molecular testing for cancer diagnosis, accelerating the growth of the global cancer diagnostics market by offering cutting-edge, more accurate diagnostic solutions.
Adoption of Next-Generation Sequencing Technology to Increase Cancer Diagnostics Market Size
Next-generation sequencing (NGS) is a breakthrough technology that is rapidly transforming the global cancer diagnostics market. NGS offers high-throughput genomic analysis, enabling comprehensive testing of cancerous tissues to identify genetic mutations and potential therapeutic targets. This technology facilitates early detection of cancer, personalized treatment planning, and monitoring of therapeutic efficacy, contributing to better patient outcomes. The increasing availability of cost-effective NGS platforms and advancements in bioinformatics are driving its integration into clinical oncology practices. As a result, the NGS segment within the cancer diagnostics market is expected to experience substantial growth, adding significant value to the overall market.
Key Questions Answered in the Cancer Diagnostics Market
- What was the global cancer diagnostics market value in 2024?
- What is the cancer diagnostics market forecast outlook for 2025-2034?
- What is market segmentation based on technology?
- How is the market segmented based on application?
- How is the market segmented based on clinical positioning?
- What are the major factors aiding the global cancer diagnostics market demand?
- How has the market performed so far and how is it anticipated to perform in the coming years?
- What are the market's major drivers, opportunities, and restraints?
- What are the major cancer diagnostics market trends?
- Which technology will lead the market segment?
- Which application will lead the market segment?
- Which clinical positioning will lead the market segment?
- Who are the key players involved in the cancer diagnostics market?
- What is the patent landscape of the market?
- What are the current unmet needs and challenges in the market?
- How are partnerships, collaborations, mergers, and acquisitions among the key market players shaping the market dynamics?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 400 |
| Forecast Period | 2025 - 2034 |
| Estimated Market Value (USD) in 2025 | $23.84 Billion |
| Forecasted Market Value (USD) by 2034 | $70.8 Billion |
| Compound Annual Growth Rate | 11.5% |
| Regions Covered | Global |
Supplier Landscape
- Agilent Technologies, Inc.
- F. Hoffmann-La Roche AG
- Thermo Fisher Scientific, Inc.
- Becton, Dickinson and Company
- Danaher Corporation
- GE Healthcare
- Abbott
- Siemens Healthineers
- Bio-Rad Laboratories, Inc.
- Illumina, Inc.
- PerkinElmer Inc.
- QIAGEN
- Hologic, Inc.
- Myriad Genetics, Inc.
- Sysmex Corporation
- NeoGenomics Laboratories, Inc.
- Foundation Medicine
- Grail
- Guardant
- Tempus
- Delfi Diagnotics
- Exact Sciences Corporation
Cancer Diagnostics Market Segmentation
Market Breakup by Technology
- Blood-based Diagnostics
- In Vitro Diagnostics Immunoassays Histopathology Others
- Molecular Diagnostics cfDNA Testing DNA Methylation Analysis Gene Sequencing Polymerase Chain Reaction (PCR) In Situ Hybridization Isothermal Nucleic Acid Amplification Technology (INAAT) Microarrays Spectrometry Others
- Non-blood-based Diagnostics
- Imaging CT MRI PET Others
- Biopsy Comparative Analysis Solid Liquid Others
- Others
Market Breakup by Indication
- Breast Cancer
- Lung Cancer
- Colorectal Cancer
- Prostate Cancer
- Cervical Cancer
- Blood Cancers (Leukemia and Lymphoma)
- Skin Cancer (Melanoma)
- Others
Market Breakup by Clinical Positioning
- Screening
- Early Detection
- Treatment Guidance
- Treatment Response Assessment
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/e4p228
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
