Cancer Diagnostics Market to Double by 2033, Surpassing US$ 42 Billion Amid Early Detection Demand

Driven by rising cancer rates and tech advances, the global cancer diagnostics market grows at 8.7% CAGR through 2033.

LOS ANGELES, CA, UNITED STATES, July 23, 2025 /EINPresswire.com/ -- The cancer diagnostics market size was valued at approximately US$ 21.71 billion in 2024 and is projected to grow to around US$ 42.64 billion by 2033, registering a compound annual growth rate (CAGR) of 8.7% over the forecast period from 2025 to 2033.

The global cancer diagnostics market comprises a broad range of technologies, devices, and services designed to detect and diagnose different types of cancer, with an emphasis on early-stage identification. This market includes diagnostic tools such as imaging techniques (including MRI, CT, and PET scans), molecular and genetic testing methods (such as next-generation sequencing and liquid biopsies), pathology-based assessments, and screening procedures that identify cancer-specific biomarkers.

These diagnostic solutions aim to deliver precise and timely cancer detection, supporting more personalized and effective treatment strategies while improving patient survival and quality of care. Key drivers of market growth include the increasing global burden of cancer, continuous innovations in diagnostic technologies, and a rising emphasis on early detection and individualized cancer therapies.

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Cancer Diagnostic Market Driver:

Rising Incidence and Prevalence of Cancer

The increasing global incidence and prevalence of cancer are major factors fueling the growth of the cancer diagnostics market, a trend expected to continue over the forecast period. According to GLOBOCAN data from 2022, there were approximately 10.3 million new cancer cases among men and 9.7 million among women. These numbers are projected to rise to 12.5 million and 11.6 million, respectively, by 2025. This sharp increase underscores the urgent need for accessible, accurate, and cost-effective diagnostic solutions to support early detection and treatment planning.
The aging population also plays a significant role in this trend, as the risk of developing cancer increases with age. As more people live longer, the number of individuals susceptible to cancer is rising, which in turn drives demand for early-stage diagnostic tools that can help improve clinical outcomes.
Consequently, the growing cancer burden is pushing the need for a broad range of diagnostic products and services, including imaging technologies, laboratory diagnostics, and biomarker-based tests. These developments are accelerating innovation in the sector while highlighting the need to close global gaps in access to timely and effective cancer care.
Cancer Diagnostic Market Segments
• By Product Type (Consumables, Antibodies, Kits & Reagents, Probes, Others, Instruments, Pathology-based, Tissue Processing Systems, Cell Processors, PCR Instruments, Microarrays, Others, Imaging, CT Systems, Ultrasound Systems, MRI Systems, Mammography Systems, Others)
• By Technology (IVD Testing, In Situ Hybridization (ISH), Next-generation Sequencing (NGS), Imaging, Magnetic Resonance Imaging (MRI), Computed Tomography (CT), Others)
• By Cancer Type (Breast Cancer, Colorectal Cancer, Cervical Cancer, Lung Cancer, Others)
• By End User (Hospitals and Clinics, Diagnostic Laboratories, Cancer Care and Research Institutes, Others)
• By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa)

Cancer Diagnostic Market Regional Share:
North America is expected to lead the global cancer diagnostics market, driven by a high incidence of cancer and a well-established healthcare infrastructure. The United States, in particular, sees a significant number of cancer cases each year, fueling the demand for reliable and advanced diagnostic tools.

In 2024, the National Institutes of Health (NIH) projected over 2 million new cancer cases and more than 600,000 cancer-related deaths in the U.S., highlighting the critical need for early and accurate detection. The growing focus on early-stage diagnosis and effective screening methods is pushing the region to the forefront of innovation in cancer diagnostics.

Numerous initiatives and technological advancements are further strengthening North America's market position. In early 2024, the NIH introduced the Cancer Screening Research Network (CSRN) to support new screening technologies as part of the Cancer Moonshot initiative. Later that year, the ARPA-H agency under the Biden-Harris administration launched a program aimed at developing at-home cancer tests for early detection.

Additionally, Illumina’s TruSight Oncology Comprehensive test received FDA approval, marking a major milestone in the development of in vitro diagnostic tools. These combined efforts are driving the region's growth and reinforcing its status as a global leader in cancer diagnostics.

Cancer Diagnostic Market Key Players:
Key players are F. Hoffmann-La Roche Ltd, Abbott, Thermo Fisher Scientific Inc., Siemens Healthcare Private Limited, GE HealthCare, Illumina, Inc., Bio-Rad Laboratories, Inc., Hologic, Inc., Koninklijke Philips N.V., BD, and QIAGEN.

Industry Recent Developments:
• Becton Dickinson’s biosciences & diagnostic arm is merging with Waters Corporation in a $17.5 billion Reverse Morris Trust deal. The combined entity, under Waters, will have a market reach of ~$40 billion, including enhanced multiplex diagnostics platforms used in cancer detection. This merger is expected to close in Q1 2026 and aims for $345 million in annual cost savings by 2030.
• Owkin, a digital pathology AI platform, is pushing forward multi-omic spatial cancer diagnostics in partnership with MSD and leading research institutions.

Related Reports:
Next Generation Cancer Diagnostic Devices Market 2025
Breast Cancer Diagnostics Market 2025

Sai Kiran
DataM Intelligence 4Market Research
+1 877-441-4866
Sai.k@datamintelligence.com
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