Authored By: Sarah
07 Aug 2023

Cancer Diagnostics Market to forecasted to grow at a CAGR of  11.3% through 2023-2027

The prevalence of cancer, the demand for personalized medicines, and the need for cost-cutting in drug discovery and development across the globe are impacting the market growth of the Cancer Diagnostics Market. It is estimated the Market will grow at a CAGR of 11.3% between 2022 and 2027 with a revenue growth of USD 12,626.21 million. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus. 

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Cancer Diagnostics Market Segment at a Glance

Understanding the market segmentation of the Cancer Diagnostics Market: The high prevalence of cancer across the world followed by advancement in treatment procedures is the primary reason for the market expansion of Cancer Diagnostics.

Market Trends: When it comes to market trends, the cancer Diagnostic market is witnessing a humongous investment in R and D and advances in technology. 

One such approach is the development of nanoparticle-based cancer theranostics using gold nanoparticles.

Get a comprehensive report summary describing the market landscape in our data-backed report that captures the growth trajectory, and trends of the market.

Key Companies of the Cancer Diagnostics Market: Companies are implementing various strategies, such as strategic alliances, and partnerships, across geographies. Substantial investments by several companies in R and D to develop novel diagnostic devices for cancer diagnosis and treatment are also making a positive impact on the market growth. 

Companies like Abbott Laboratories offer cancer diagnostics of comprehensive tumor markers and harmonized instrument families to provide laboratories with clinically relevant results for the most debilitating, costly, and commonly occurring cancers. Our report includes qualitative and quantitative analyses of vendors with a wider understanding of the business ecosystem.

Agilent Technologies Inc.,Astellas Pharma Inc.,Becton Dickinson and Co.,bioMerieux SA,Bristol Myers Squibb Co.,Eli Lilly and Co.,F. Hoffmann La Roche Ltd., General Electric Co., GlaxoSmithKline Plc, Hologic Inc., and Illumina Inc. are some major market leaders when it comes to Cancer Diagnostics Market. Download our report for more insights.

The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market is accelerating at a CAGR of 11.3%.

  2. What is the incremental growth of the market?
    The market is expected to grow by USD 12626.21 mn through 2023-2027.

  3. What is a key factor driving this market?
    The high prevalence of cancer will drive market growth over the forecast period.

  4. What are the key regions covered in this market research report?
    North America, Europe, APAC, and the Rest of the World (ROW) are the key regions featured in this research report.

  5. Which is the leading geographic region for this market:
    43% growth will originate from North America.

  6. What are the market segments covered in this report?
    The market is segmented by End-user (Hospitals and clinics and Diagnostic laboratories), Type (IVD, Imaging, and LDT), and Geography (North America, Europe, APAC, and Rest of World (ROW))
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