Chicago, May 26, 2022 (GLOBE NEWSWIRE) -- According to market research report "Cancer Diagnostics Market by Product (Consumables (Anitibodies, Probes), Instruments (Pathology Instruments, Imaging Instruments, Biopsy), Technology (IVD Testing), Application (Breast Cancer, Lung Cancer), End User (Hospitals) - Global Forecasts to 2026", published by MarketsandMarkets™, is projected to reach USD 26.6 billion by 2026 from USD 17.2 billion in 2021, at a CAGR of 11.5%. Growth of the cancer diagnostics market is driven mainly by increasing incidence of cancer and growth in the number of private diagnostic laboratories.

Browse in-depth TOC on "Cancer Diagnostics Market"
300 - Tables
48 - Figures
280 – Pages

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Recommendations for cancer screening;

In an attempt to detect cancer in the early stages and bring down the mortality rate, governments in developed countries and primary care doctors are recommending cancer screening tests for patients. The US Preventive Services Task Force (USPSTF) recommends screening for colorectal cancer starting at 50 years of age to 75 years of age in the US as a means of preventing disease incidence and ensuring early-stage treatment. Canada has also implemented guidelines for biennial colorectal cancer screening for people aged 50 to 74 years.

Scope of the Cancer Diagnostics Market Report:

Report Metrics	Details
Market size available for years	2019–2026
Base year considered	2020
Largest Market	North America
Forecast Period 2022-2026 CAGR	11.5%
Estimated Year Market Size	USD 17.2 Billion
Forecast Year Market Size	USD 26.6 Billion
Forecast period	2021–2026
Segments covered	Products, Cell Type, Application, End User and Region
Geographies covered	North America (US, Canada), Europe (Germany, France, UK, Spain, Italy, and RoE), APAC (China, India, Japan and the RoAPAC), and Rest of the World
Companies covered	GE Healthcare (US), Abbott Laboratories (US), Hologic Inc. (US), Agilent Technologies Inc.(US), Roche Diagnostics (Switzerland), FUJIFILM Corporation (Japan), Danaher Corporation (US), DiaSorin S.P.A. (Italy), Myriad Genetics Inc. (US), Siemens Healthineers AG (Germany), BD (US), bioMérieux SA (France), Bio-Rad Laboratories (US), Cancer Diagnostics Inc. (US), Vela Diagnostics (Singapore), Roche Diagnostics (Switzerland), AMOY Diagnostics CO. LTD. (China), Quidel Corporation (US), Bio SB (US), Biocartis NV (Belgium), Exact Science (US)

Hospitals are the largest end-users of the cancer diagnostics market

Based on end-users, the market is segmented into hospitals and diagnostic laboratories. The hospitals segment accounted for the largest market share in 2020 due to the rising number of in-house diagnostic procedures performed in hospitals, growing awareness regarding early diagnosis, and the availability of reimbursements.

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North America dominates the global cancer diagnostic market

The cancer diagnostics market is segmented into four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World. In 2020, North America accounted for the largest share of the market. The large share of North America can be attributed to factors such as the increasing incidences of cancer, growing awareness early diagnosis and technological advancement.

Key Players

The major players in the cancer diagnostics market are Danaher Corporation (US), Becton, Dickinson and Company (US), Bio-Rad Laboratories, Inc. (US.), F. Hoffman-La Roche AG (Switzerland), QIAGEN N.V. (Netherlands), Fujifilm Corporation (Japan), Aglient Technologies (US) and Thermo Fisher Scientific Inc. (US) etc.

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