Cancer Diagnostics Market Analysis By Type (Laboratory Tests, Genetic Tests, Imaging, Endoscopy), By Application (Breast, Lung, Liver, Cervical, Colorectal, Skin), By Region, And Segment Forecasts, 2018 - 2025

Industry Insights

The global cancer diagnostics market size was valued at USD 124.0 billion in 2016 and is expected to grow at a CAGR of 7.2% over the forecast period. Growing prevalence of oncologic cases, constant technological advancements in diagnostics, and increasing demand for effective screening tests are some of the prime factors spurring the demand for screening tools across the world. In addition, rising awareness and supportive government initiatives are some additional factors that are anticipated to boost the growth of the sector during the forecast period.

Cancer is one of the leading causes of deaths across the world, which is attributed to the escalating prevalence of the disease. Therefore, healthcare professionals are focusing on the development of effective diagnostic and treatment solutions to check the prevalence level. Early detection increases the success rate of treatment regimens. As a result, healthcare agencies and market players through various awareness programs are promoting routine checkups.

China cancer diagnostics market, by screening type, 2014 - 2025 (USD Billion)

Although various screening procedures, such as lab tests, imaging, and endoscopy, enable disease detection at an early stage, there are certain risk factors posed by medical imaging, such as excessive radiation exposure and the administration of fluorescent and barium contrast media in imaging and endoscopic procedures, that cause several adverse effects such as nausea and diarrhea. In addition, the cost entailed in performing diagnosis is relatively high. Thus, the untoward effects associated with imaging solutions coupled with the high cost of diagnosis are anticipated to hinder market growth.

Product Insights

The imaging segment was leading the market with the largest share in 2016. This segment is also 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 imaging modalities are used as supportive tests along with other laboratory and genetic tests to determine the location and severity of the condition in diagnosing a variety of cancer types, thereby subsequently assisting in the selection of an appropriate treatment regimen. These factors together would drive the growth of the imaging segment with a CAGR of around 8% over the forecast period.

In 2016, in terms of revenue share, laboratory and genetic test segments were at par as both test types in the respective segments are performed in tandem to confirm the presence or absence of tumor cells and genetic mutations, respectively. The laboratory tests include testing of blood, urine, other body fluids, or tissue for the presence of certain biomarkers, while genetic tests include detection of genetic aberrations in DNA and RNA samples taken from tumors. Not all commercially available tests enable a conclusive medical diagnosis when performed alone. Hence, laboratory and genetic testing are performed simultaneously to yield an accurate diagnosis of the underlying medical condition.

Application Insights

The breast cancer segment captured the largest market share of around 13.0% in 2016. Mammography is the most common and popular screening test employed for breast tumor screening. According to the United States Preventive Services Task Force (USPSTF), women aged between 50 to 74 years are at a higher risk of developing breast cancer. Thus, USPSTF recommends women above 40 years of age to undergo mammography every two years.

In addition, many organizations such as National Breast Cancer Foundation, Inc. are undertaking initiatives to spread awareness regarding breast cancer, the benefits of early detection and available treatment options. Increasing cognizance of the population coupled with campaigns promoting routine mammography is resulting in a high demand for imaging solutions in breast cancer screening.

On the other hand, surging consumption of tobacco and alcohol is resulting in increased prevalence of tumor in liver and kidney. Thus, the demand for liver & kidney cancer screening is anticipated to rise significantly in the near future.

Global cancer diagnostics market, by application, 2016 (%)

Regional Insights

North America dominated the market by capturing the largest revenue share of more than 41% in 2016. Presence of numerous biotechnology as well as medical device companies in the region is one of the prime factors driving the growth of the diagnostics sector in the region. North America, among other regional segments, is expected to dominate the vertical throughout the forecast period owing to factors such as greater funding available for research and development projects and high adoption of advanced technologies.

Asia Pacific is expected to exhibit the highest growth in the near future due to the presence of a large patient pool, availability of skilled technicians at a comparatively lower price, and a defined regulatory framework favoring expedited product approvals. Furthermore, the booming medical tourism industry in countries, such as India, China, and Malaysia, are expected to boost the demand for oncological screening.

In addition, favorable government policies supporting the growth of the manufacturing industry coupled with the lower manufacturing costs in countries, such as India and China, are expected to attract the attention of global players to set their production plants in these parts. In addition, the expected rise in the patient base in Asia Pacific is anticipated to boost the market growth further in the near future.

Competitive Outlook

Major players competing in the industry include but are not limited to GE Healthcare; Abbott; F. Hoffmann-La Roche Ltd; and Siemens Healthcare GmbH. These companies hold a strong position in the global market mainly due to the adoption of innovative products and their high R&D efforts to introduce advances in the same.

Some other players operating in the market include Becton, Dickinson & Company; Illumina, Inc.; Koninklijke Philips N.V.; Hologic, Inc.; and others. The competition in the market is expected to intensify in the near future since several companies are now focusing on their research endeavors and introducing new diagnostic methods through product portfolio expansions and mergers & acquisitions.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the cancer diagnostics market on the basis of screening type, application, and region:

• Screening Type Outlook (Revenue, USD Billion; 2014 - 2025)

  • Laboratory Tests

  • Genetic Tests

  • Imaging

  • Endoscopy

  • Biopsy

  • Others (barium enema)

• Application Outlook (Revenue, USD Billion; 2014 - 2025)

  • Breast Cancer

  • Colorectal Cancer

  • Cervical Cancer

  • Lung Cancer

  • Prostate Cancer

  • Skin Cancer

  • Blood Cancer

  • Kidney Cancer

  • Liver Cancer

  • Pancreatic Cancer

  • Ovarian Cancer

  • Others

• Regional Outlook (Revenue, USD Billion; 2014 - 2025)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • UK

  • Asia Pacific

    • China

    • Japan

    • India

  • Latin America

    • Mexico

    • Brazil

  • MEA

    • South Africa