Cancer Diagnostics Market Size Drives to USD 199.54 Billion by 2034

According to Towards Healthcare Research, the global cancer diagnostics market size is calculated at USD 116.42 billion in 2025 and is expected to reach around USD 199.54 billion by 2034, growing at a CAGR of 6.17% for the forecasted period.

/EIN News/ -- Ottawa, May 05, 2025 (GLOBE NEWSWIRE) -- The global cancer diagnostics market size was valued at USD 109.65 billion in 2024 and is predicted to hit around USD 199.54 billion by 2034, a study published by Towards Healthcare a sister firm of Precedence Research.

The rising prevalence of cancer and advancements in diagnostics are the major growth factors of the market. North America led the global market owing to the increasing awareness of early diagnosis and robust healthcare infrastructure.

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Cancer Diagnostics Market Overview

Cancer diagnostics are tools used to detect the presence of tumors. The most commonly used tests for diagnosing cancer include CT scan, MRI, PET scan, ultrasound, and X-ray. Other types of tests include lab tests and biopsies. Lab tests identify the cancer biomarkers, whereas biopsy and imaging tests confirm the presence of tumors. These tests enable healthcare professionals to determine the extent of cancer (stage) and provide treatment accordingly. Effective diagnostic testing confirms or eliminates the presence of disease, monitors the disease process, and plans for and evaluates the effectiveness of treatment.

Cancer Diagnostics Market Trends

• Rising Prevalence of Cancer: The rising prevalence of cancer is a major public health concern as it is the leading cause of mortality globally. The World Health Organization (WHO) reported 20 million new cancer cases in 2022 globally and estimated over 35 million new cases in 2050 globally.
• Advancements in Diagnostics: Researchers around the globe develop advanced techniques and tools for early cancer detection. Advanced technologies are used for diagnosing cancer. Some common examples of advanced diagnostics include liquid biopsy and AI-driven imaging.
• Growing Genomics & Proteomics Research: Genomics and proteomics play a vital role in determining the type and amount of biomarkers present in the human body. They provide insights into molecular mechanisms and potential therapeutic targets for personalized medicines.
  

Limitations & Challenges of the Cancer Diagnostics Market

• Lack of Awareness: Numerous people in developing and underdeveloped countries are unaware of cancer screening and early diagnosis. This hinders the use of cancer diagnostics, leading to cancer detection at later stages.
• High Cost: Several advanced diagnostic techniques are not affordable to people, especially from low- and middle-income groups. This may lead to unequal access to advanced technologies for a wide range of people.

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AI-driven Cancer Diagnostics: Revolutionizing Detection

AI in cancer diagnostics is one of the most widely adopted techniques due to enhanced accuracy and efficiency. Integrating AI in MRI, CT scans, PET, and other imaging tests analyzes mammograms and biopsy images. AI can detect minute signs that are not visible to healthcare professionals, aiding them in detecting cancerous lesions and understanding tumor behavior. It enhances the speed of cancer diagnosis, enabling providers to focus more on patient care. AI and ML can detect vast amounts of data and precisely detect the cancer stage. This helps healthcare professionals to provide personalized treatment based on imaging results. Thus, AI has been studied to detect and screen different cancer types, affecting the breast, lungs, brain, pancreas, rectum, and oesophagus.

AI In Cancer Diagnostics Market Report: https://www.towardshealthcare.com/insights/ai-in-cancer-diagnosis-transforming-cancer-care

Regional Analysis

Increasing Investments Dominated North America

North America dominated the global cancer diagnostics market in 2024. The presence of a robust healthcare infrastructure and technological advancements leads to the use of cutting-edge diagnostic solutions. State-of-the-art research and development facilities encourage researchers to identify potential biomarkers and develop tools for faster and more precise detection. Favorable reimbursement policies enable patients to access advanced care, contributing to market growth. The growing demand for personalized treatment helps doctors to use cutting-edge diagnostic techniques.

• United States: The American Cancer Society estimated more than 2 million new cancer cases in the U.S. in 2025. The increasing number of cancer-related clinics also potentiates market growth. There are around 72 NCI-designated cancer centers in the U.S. The National Cancer Institute invests around $7.2 billion annually in cancer research.
• Canada: In March 2025, the Government of Alberta announced an investment of CAD 800 million (USD 560 million) over eight years as part of the partnership with Siemens Healthineers and the Alberta Cancer Foundation. The funding was made to support early cancer detection, reduce wait times, and establish Alberta as a leader in cancer research and innovation.

Asia-Pacific is anticipated to grow at the fastest rate in the cancer diagnostics market during the forecast period. The rising prevalence of cancer and the increasing adoption of advanced technologies drive the market. Several government and private organizations conduct seminars and workshops to create awareness about screening and cancer detection, thereby improving access to healthcare services. The increasing investments and collaborations also promote the market. The burgeoning healthcare sector and increasing healthcare expenditure boost market growth. Asia-Pacific countries provide affordable cancer diagnosis and treatment services, encouraging people from around the globe to access medical services in these countries.

• China: In November 2024, the Advanced Prostate Cancer Consensus Conference (APCCC) was organized in China to address the rising incidence of prostate cancer. The conference discussed public awareness campaigns and localized screening programs, highlighting China’s progress.
• India: The Indian Council of Medical Research (ICMR) reported more than 14 lakh new cancer cases in India in 2023. The Indian government aims for an integrated approach for a “Cancer-free India,” encompassing prevention, screening, diagnosis, and treatment. The Union Budget 2025-26 prioritizes cancer care by allocating a budget of Rs. 99,858.56 crore.

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Segmental Outlook

Product Insights

The consumables segment held a dominant presence in the cancer diagnostics market in 2024. Consumables are common materials required for molecular diagnostics, including fixatives, stains, antibodies, probes, kits, and specialized reagents. They are refilled at diagnostic laboratories and other healthcare organizations to perform multiple tests simultaneously. They play a vital role in routine testing and the frequent use of cancer diagnostics. The availability of affordable consumables encourages professionals to purchase them.

The services segment is predicted to witness significant growth in the market over the forecast period. Several organizations provide proficient expertise and access to cutting-edge technologies, which are otherwise unaffordable to laboratories. Services eliminate the need for favorable infrastructure and skilled professionals. They provide additional testing for patients with symptoms, imaging, or lab results that require new diagnostic techniques. They reduce the chance of false positives, giving accurate results.

Type Insights

The in vitro diagnostics (IVDs) segment led the global cancer diagnostics market in 2024. IVDs aid in the screening and diagnosis of various cancer types. These tests include liquid biopsies, multi-cancer early detection tests (MCED), and biomarker testing. The growing demand for point-of-care diagnostics augments the segment’s growth. They eliminate the need for visiting a pathology lab. Advancements in technology and immunohistochemistry boost the segment’s growth. Companion diagnostics are another common example of IVDs that provide information about the safe and effective use of therapeutics. The U.S. Food and Drug Administration (FDA) approved a total of 188 companion diagnostics as of March 2025.

The laboratory diagnostic tests segment is expected to grow at the fastest rate in the cancer diagnostics market during the forecast period. Laboratory diagnostic tests (LDTs) are tests that assess a sample of blood, urine, or body tissues to detect tumors. LDTs analyze the amount of biomarkers responsible for cancer progression. Any abnormalities in the normal values of tests enable providers to make effective clinical decisions and might even suggest further advanced diagnostic tests. They are comparatively more affordable than IVDs.

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Application Insights

The breast cancer segment held the largest share of the market in 2024. Breast cancer is the most common type of cancer in women and leads to the highest number of mortalities. In the U.S., breast cancer accounts for 30% of all new cancer cases annually. Mammogram tests are the most widely used diagnostic tool for breast cancer. Digital breast tomosynthesis or 3D mammography is an advanced technique of mammogram tests for detecting hidden tumors and getting clearer images of breast abnormalities. The future of breast cancer screening involves the use of magnets, sound waves, and cellular biology.

The colorectal cancer segment is anticipated to grow with the highest CAGR in the cancer diagnostics market during the studied years. The rising prevalence of colorectal cancer fosters the segment’s growth. The American Cancer Society estimated about 107,320 new colon cancer cases and 46,950 new rectal cancer cases in 2025. Colorectal cancers are usually diagnosed through stool tests, colonoscopy, and blood-based tests. They are highly treatable. Hence, screening of precancerous polyps is essential.

End-Use Insights

The laboratories segment held the major share of the market in 2024. Laboratories have skilled professionals to provide advanced diagnostic services to patients. The presence of favorable infrastructure and suitable capital investments enables laboratories to adopt cutting-edge diagnostic techniques for cancer diagnosis. They perform various tests, such as tissue analysis, urinalysis, and tumor markers. Laboratories not only conduct cancer-related tests for patients but also help researchers in identifying potential biomarkers, allowing them to draw conclusions.

Test Type Insights

The biopsy segment held a significant share of the market in 2024. Biopsy is a procedure to extract tissues, cells, or fluids from local tumor areas and analyze them under a microscope to check for the presence of tumors. They are more accurate and eliminate the chances of false positives. The growing demand for minimally invasive tests propels the segment’s growth. The advent of liquid biopsy tests has revolutionized cancer testing. Liquid biopsies identify circulating tumor DNA (ctDNA) and circulating tumor cells (CTCs).

Coverage Insights

The public insurance segment registered its dominance over the global cancer diagnostics market in 2024. Several government bodies provide reimbursement for cancer screening, diagnosis, and treatment through special schemes. Public insurances are generally more affordable and accessible, making them a sustainable option. The increased trust in government insurance policies also encourages patients to prefer public insurance. The Centers for Medicare and Medicaid Services (CMS) provide reimbursement for cancer diagnosis in the U.S. The CMS provides $110 per beneficiary per month for their cancer treatment.

The private insurance segment is anticipated to show lucrative growth in the market over the study period. Private insurance policies offer numerous benefits over public insurance, such as less waiting time, selecting doctors of own choice, and access to more healthcare options. Private insurance also helps to save on tax and avoid full-cost private hospital bills. Numerous companies provide personalized policies and schemes, benefiting patients and healthcare professionals.

Top Companies in the Cancer Diagnostics Market

• Illumina, Inc.
• Becton, Dickinson, and Company
• GE Healthcare
• QIAGEN N.V.
• Abbott Laboratories, Inc.
• Roche Diagnostics
• Siemens Healthcare
• Philips Healthcare
• R. Bard, Inc.
• bioMérieux SA
• NeoGenomics Laboratories, Inc.
• Volpara Solutions Limited
• Hologic Inc.
• Canon Medical Systems Corporation
• PenRad Technologies Inc.
• BioNTech Diagnostics GmbH
• BioGenex
  

Recent Breakthroughs

• In April 2025, researchers from Karolinska Institute developed a urine test to detect prostate cancer at an early stage. The test enables the use of AI and extensive analyses of gene activity in tumors to identify new biomarkers with high diagnostic accuracy.
• In November 2024, Alverno Laboratories and Ibex Medical Analytics announced the launch of the Ibex Breast platform within Alverno’s laboratories in Indiana and Illinois. The platform uses AI technologies to detect cancer in multiple tissue types, including prostate, breast, and gastric.

Browse More Insights of Towards Healthcare:

• Cervical Cancer Treatment Market Size: https://www.towardshealthcare.com/insights/cervical-cancer-treatment-market-sizing
• Cancer Stem Cells Market Size: https://www.towardshealthcare.com/insights/cancer-stem-cells-market-sizing
• Cervical Cancer Diagnostic Market Size: https://www.towardshealthcare.com/insights/cervical-cancer-diagnostic-market-sizing
• Hyperthermia Cancer Treatment Market Size: https://www.towardshealthcare.com/insights/hyperthermia-cancer-treatment-market-sizing
• Cancer Biologics Market Size: https://www.towardshealthcare.com/insights/cancer-biologics-market-sizing
• Circulating Tumor Cells Market Size: https://www.towardshealthcare.com/insights/circulating-tumor-cells-market-sizing
• Cancer Vaccines Market Size: https://www.towardshealthcare.com/insights/cancer-vaccines-market-sizing
• Liver Cancer Drugs Market Size: https://www.towardshealthcare.com/insights/liver-cancer-drugs-market-sizing
• Hemato Oncology Testing Market: https://www.towardshealthcare.com/insights/hemato-oncology-testing-market-sizing
• Pancreatic Cancer Market: https://www.towardshealthcare.com/insights/pancreatic-cancer-market

Segments Covered in the Report

By Product

• Consumables
  • Antibodies
  • Kits & reagents
  • Probes
  • Others
• Services
• Instruments
  • Pathology-based Instruments
    • Slide Staining Systems
    • Tissue Processing Systems
    • Cell Processors
    • PCR Instruments
    • NGS Instruments
    • Microarrays
    • Other Pathology-based Instruments
  • Imaging Instruments
  • Others
    

By Type

• In Vitro Diagnostics
  • By Type
    • Diagnosis
    • Early Detection
    • Therapy Selection
    • Monitoring
  • By Technology
    • Polymerase Chain Reaction (PCR)
    • In Situ Hybridization (ISH)
    • Immunohistochemistry (IHC)
    • Next-generation Sequencing (NGS)
    • Microarrays
    • Flow Cytometry
    • Immunoassays
    • Other IVD Testing Technologies
• Laboratory Diagnostic Tests
• Imaging
  • Magnetic Resonance Imaging (MRI)
  • Computed Tomography (CT)
  • Positron Emission Tomography (PET)
  • Mammography
  • Ultrasound
  • Others
    

By Application

• Breast Cancer
• Colorectal Cancer
• Cervical Cancer
• Lung Cancer
• Prostate Cancer
• Skin Cancer
• Blood Cancer
• Kidney Cancer
• Liver Cancer
• Pancreatic Cancer
• Ovarian Cancer
• Others

By End-Use

• Laboratories
• Hospitals
• Others
  

By Test Type

• Biopsy
  • Fine-needle Aspiration
  • Core Biopsy
  • Surgical Biopsy
  • Skin Biopsy /Punch Biopsy
  • Others
• Others
  

By Coverage

• Public Insurance
• Private Insurance

By Region

• North America
  • US
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Thailand
• Europe
  • Germany
  • UK
  • France
  • Italy 
  • Spain
  • Sweden 
  • Denmark
  • Norway
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East and Africa (MEA)
  • South Africa
  • UAE
  • Saudi Arabia
  • Kuwait
    

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