The cancer diagnostics & technology market size is estimated to be USD 18,500 million in 2022 and is expected to witness a CAGR of 13.7% during the forecast period 2023-2033. The increasing usage of cloud-based applications and services, the approaching patent expiration of blockbuster pharmaceuticals, and the rising need to control drug discovery prices and shorten the time required in the drug development process are factors contributing to the market growth. However, the rising use of reconditioned diagnostic imaging equipment, recalls of products, failures, the absence of qualified experts, and expensive diagnostic imaging equipment is expected to hinder the growth.

Segmentation

By Application

Based on application, the market is segregated into colorectal cancer, melanoma, breast cancer, lung cancer, ovarian cancer, skin cancer, kidney cancer, and other cancers. In 2022, the breast cancer segment held the highest market share owing to rising breast cancer prevalence, increasing advertisements for regular mammography, and raising public awareness.

 By Technology

On the basis of technology, the market is categorized into imaging, IVD testing, and biopsy technique. In 2022, the IVD testing segment held the highest market share due to rising cancer mortality rates.

By Product

Based on product, the market is divided into instruments, consumables, and biopsy instruments. In 2022, the consumables segment held the highest market share owing to the high usage, frequent purchases, and the greater incidence of disorders.

By End User

Based on end user, the market is divided into diagnostic laboratories, hospitals, research institute, and others. In 2022, the hospitals segment held the highest market share due to the increasing frequency of internal diagnostic procedures carried out in hospitals, rising understanding of early diagnosis, and the growing number of individuals going to hospitals.

Regional Markets

In 2022, North America region accounted for the highest revenue in the cancer diagnostics & technology market and is expected to maintain its dominance during the forecast period. This is attributed to the increased financing for programs involving research and development, growing technical progress, the existence of a large number of biotechnology and medical device companies in the region, and an increase in cancer cases. However, the Asia-Pacific region is predicted to grow at the fastest rate during the projection period owing to the existence of a big patient population, cheaper production costs in nations like China and India, accessibility of trained specialists at an affordable rate, and clear regulatory structure that favors accelerated product approvals.

Competitor Insights

Some of the key players operating in the cancer diagnostics & technology market are Abbott. (US), Agilent Technologies, Inc. (US), Thermo Fisher Scientific Inc. (US), BD. (US), bioMérieux SA (France), Bristol-Myers Squibb Company (US), Novartis AG (Switzerland), Eli Lilly and Company (US), F. Hoffmann-La Roche Ltd (Switzerland), Genomic Health, Inc. (US), GlaxoSmithKline plc. (UK), Hologic, Inc. (US), Illumina, Inc. (US), Merck KGaA, (Germany), and Pfizer, Inc. (US).

This comprehensive research report focuses on the global and regional market size and forecasts of diverse segments including application, technology, product and end user from 2023 to 2033.

Report Scope:

Segmentation: Cancer Diagnostics & Technology Market Report 2022 – 2033

Application (Revenue, USD Million), 2022 – 2033

• Colorectal Cancer
• Melanoma
• Breast Cancer
• Lung Cancer
• Ovarian Cancer
• Skin Cancer
• Kidney Cancer
• Other Cancers

Technology (Revenue, USD Million), 2022 – 2033

• Imaging
  • Ultrasound
  • Computed Tomography (CT)
  • Positron Emission Tomography (PET)
  • Magnetic Resonance Imaging (MRI)
  • Mammography
• IVD Testing
  • Microarrays
  • In Situ Hybridization (ISH)
  • Next-generation Sequencing (NGS)
  • Immunoassays
  • Polymerase Chain Reaction (PCR)
  • Flow Cytometry
  • Immunohistochemistry (IHC)
  • Other IVD Testing Technologies
• Biopsy Technique

Product (Revenue, USD Million), 2022 – 2033

• Instruments
  • Imaging Instruments
    • Mammography Systems
    • CT Systems
    • MRI Systems
    • Nuclear Imaging Systems
    • Ultrasound Systems
  • Pathology-based Instruments
    • Tissue Processing Systems
    • PCR Instruments
    • NGS Instruments
    • Cell Processors
    • Microarrays
    • Slide Staining Systems
    • Other Pathology-based Instruments
  • Consumables
    • Probes
    • Kits & Reagents
    • Antibodies
    • Other Consumables
  • BiopsyInstruments

End User (Revenue, USD Million), 2022 – 2033

• Diagnostic Laboratories
• Hospitals
• Research Institute
• Others

By Region (Revenue, USD Million), 2022 – 2033

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of LATAM
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Rest of MEA