Report Overview

The increasing prevalence of cancer, advancements in diagnostic technologies, and the proactive efforts of both private and public organizations are expected to drive the growth of the North America cancer diagnostics market during the forecast period between 2024 and 2030.

North America Cancer Diagnostics Market – Industry Trends & Forecast Report, 2030

The North America Cancer Diagnostics Market size was estimated at USD 19.23 Billion in 2023. During the forecast period between 2024 and 2030, the North America Cancer Diagnostics Market size is projected to grow at a CAGR of 6.11% reaching a value of USD 23.48 Billion by 2030. The North America cancer diagnostics market is experiencing substantial growth, propelled by factors such as the increasing prevalence of cancer, advancements in diagnostic technologies, and the proactive efforts of both private and public organizations. According to data provided by the Association of Community Cancer Centers, the trajectory of this growth is further underscored by the implementation of the Cancer Patient Equity Act in 2022, following its introduction in 2021. This legislation aims to extend coverage for specific cancer diagnostic and laboratory tests under the purview of Medicare, Medicaid, and the Children's Health Insurance Program. Notably, the bill underscores the importance of molecular testing at the time of cancer diagnosis, advocating for its inclusion within the ambit of healthcare coverage. Additionally, the Cancer Patient Equity Act seeks to spearhead an educational and awareness initiative, collaborating with the Department of Health and Human Services and the director of the National Human Genome Research Institute. This program is designed to spread knowledge about genomic testing, clarify its applications, and highlight the pivotal role played by genetic counselors in this domain. The confluence of these factors suggests a comprehensive and forward-looking approach to addressing the evolving landscape of cancer diagnostics in North America.

Cancer Diagnostics – Overview

Cancer diagnostics refers to the methods and techniques employed to detect and identify the presence of cancer in an individual. The goal of cancer diagnostics is to identify abnormalities in cells or tissues that may indicate the development of cancerous growths. These diagnostic methods encompass a wide range of approaches, including medical imaging, laboratory tests, and molecular analysis. Common diagnostic tools include X-rays, CT scans, MRIs, biopsies, blood tests, and genetic testing. Early and accurate detection of cancer is crucial for effective treatment and improved prognosis. Advancements in technology and research have led to the development of more precise and personalized diagnostic methods, enhancing the ability to detect cancer at earlier stages and tailor treatment plans to individual patients. Cancer diagnostics play a pivotal role in the overall management of cancer, facilitating timely interventions and contributing to better outcomes for patients.

North America Cancer Diagnostics Market

Growth Drivers

Rising Cancer Incidence

The North America cancer diagnostics market is anticipated to witness substantial growth, primarily fueled by the escalating cancer incidence in the United States in the projected period. According to the 2024 data from John Wiley & Sons, Inc., The American Cancer Society projects an alarming number of new cancer cases and deaths in the United States. According to their estimates, 2,001,140 new cancer cases and 611,720 cancer-related deaths are expected in 2024. This data underscores the pressing need for advanced and efficient cancer diagnostics tools and technologies to manage the rising burden of cancer in the Country. The statistics highlight the important role of accurate and timely diagnosis in managing the disease, driving the demand for innovative diagnostic solutions. This surge in cancer cases is expected to be a main driver for the growth of the North America cancer diagnostics market, as healthcare providers and researchers seek innovative solutions to enhance early detection, prognosis, and treatment outcomes in the face of this escalating health crisis.

Challenges

Addressing Public Concerns and Misinformation About New Technologies

Addressing public concerns and misinformation surrounding new technologies poses a significant challenge to the growth of the North American cancer diagnostics market. Despite remarkable advancements in diagnostic tools and methodologies with the potential to revolutionize cancer detection and treatment, their effectiveness is hindered by a lack of public understanding and trust. Widespread misinformation about the safety, accuracy, and potential side effects of emerging diagnostic technologies creates doubt among both patients and healthcare providers. The prevalence of unproven interventions and misinformation contributes to the preference for unverified treatments over evidence-based, effective ones. This situation is particularly precarious given the complexity of cancer and the varying responses to interventions across tissue types and individuals. Additionally, people with cancer are particularly vulnerable to misinformation due to the psychological distress that often accompanies a cancer diagnosis. The growing prevalence of cancer misinformation is a microcosm of the wider problem of scientific misinformation, and it remains poorly understood by the public despite its ubiquity. These concerns and misinformation can impede the adoption of new cancer diagnostic technologies, despite the significant growth and demand in cancer diagnostics in North America

Impact of Escalating Geopolitical Tensions on the North America Cancer Diagnostics Market

Geopolitical tensions can impact the North America cancer diagnostics market in various ways. The increasing geopolitical conflicts may disrupt the overall growth of the North America cancer diagnostics market, specifically impacting segments like colorectal cancer screening and diagnostics. External factors, such as geopolitical tensions, can introduce risks and uncertainties into the next-generation cancer diagnostics market in North America, influencing its dynamics and posing challenges for stakeholders. Despite these obstacles, the oncology biomarkers market is expected to experience growth, driven by the implementation of innovative technologies for enhanced cancer detection, prognosis, and treatment effectiveness, showcasing the market's ability to adapt to dynamic conditions. The biotechnology sector, including cancer diagnostics, faces concerns about the impact of geopolitical tensions, as political risks can compromise the sector's resilience in the face of uncertainties. The North America region currently holds a dominant position in the global colorectal cancer screening and diagnostic market, mainly due to the increasing incidence of the disease. Therefore, geopolitical tensions have the potential to exert far-reaching effects on the cancer diagnostics market in North America, influencing its overall growth and operational dynamics.

North America Cancer Diagnostics Market

Segmental Coverage

North America Cancer Diagnostics Market – By Products

Based on type, the North America cancer diagnostics market is segmented into instruments, consumables, and services. The consumables segment is expected to hold a significant share of the North America cancer diagnostics market during the forecast period. The demand for consumables, encompassing reagents, assay kits, and other disposable components essential for diagnostic procedures, has surged owing to their pivotal role in enhancing the accuracy and efficiency of cancer detection. As healthcare providers and diagnostic laboratories increasingly prioritize precision and reliability in cancer diagnostics, the consumables segment experiences heightened growth, reflecting a key driver in shaping the evolving landscape of cancer diagnostics in North America. This trend underscores the critical need for reliable and efficient consumables to support advancements in diagnostic technologies and contribute to the Country's ongoing efforts in the early and accurate detection of cancer.

North America Cancer Diagnostics Market – By Test Type

Based on test type, the North America cancer diagnostics market is segmented into imaging tests, biopsy and cytology tests, tumor biomarkers, immunohistochemistry, in situ hybridization, and others (endoscopy, genetic tests). During the forecast period, the imaging tests segment is anticipated to hold a significant market share because these tests play a pivotal role in the identification and assessment of cancerous conditions. These tests, such as computed tomography (CT), magnetic resonance imaging (MRI), and positron emission tomography (PET), leverage advanced technologies to provide detailed visualizations of internal body structures, aiding in the precise detection and characterization of tumors. The widespread adoption of these imaging modalities underscores their significance in facilitating early diagnosis, treatment planning, and monitoring of cancer patients across the Country. The continuous advancements in imaging technologies contribute to the robust growth of the market.

North America Cancer Diagnostics Market – By Country

The in-depth research report on the North America cancer diagnostics market covers countries of the United States and Canada. The United States is expected to dominate the North America cancer diagnostics market due to a robust healthcare infrastructure, extensive research and development activities, and a higher prevalence of cancer cases. As per the American Hospital Association 2024 data, the United States has around 6,000 hospitals. Buildings, research labs, expensive mechanical systems, cutting-edge technology, and a wide range of medical equipment make up the physical healthcare infrastructure. Furthermore, the country's advanced diagnostic technologies and sophisticated healthcare systems contribute to early detection and precise diagnosis of cancer, driving the demand for diagnostic tools and services and leading the growth of the North American cancer diagnostics market.

Competitive Landscape

Major players operating in the North America Cancer Diagnostics Market include Roche Diagnostics, Cancer Diagnostics, Inc., Agilent Technologies, BD, Telix Pharmaceuticals Limited, Abbott, NeoGenomics Laboratories, Inc, Telerad Tech, The, Menarini Group, Hologic, Inc, Illumina, Inc., Thermo Fisher Scientific Inc., QIAGEN, Epredia. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In October 2023 - DELFI Diagnostics, Inc., a provider of user-friendly blood-based tests that provide a new way to improve cancer detection, today announced the initial commercial availability of FirstLook Lung. FirstLook is a blood test that determines the possibility of detecting lung cancer using low-dose CT (LDCT) and has a negative predictive value (NPV) of 99.7%.

• In July 2023 - Quest Diagnostics, the leading provider of diagnostic information services, announced the launch of an innovative prostate cancer biomarker test through its subspecialty pathology business, AmeriPath, in conjunction with Envision Sciences. Envision Sciences Pty Ltd. is an Australian clinical diagnostics firm working on a pipeline of biomarker-based cancer diagnostic and predictive assays for tissue and blood.

Scope of the Report

By Products

• Instruments

  1. Pathology-based Instruments

  2. Imaging Instruments

  3. Others

• Consumables

1. Antibodies

2. Kits & Reagents

3. Probes

4. Others

5. Services

By Test Type

• Imaging Tests

• Biopsy and Cytology Tests

• Tumor Biomarkers

• Immunohistochemistry

• In Situ Hybridization

• Others (Endoscopy, Genetic Tests)

By Application

• Breast Cancer

• Cervical Cancer

• Lung Cancer

• Blood Cancer

• Kidney Cancer

• Pancreatic Cancer

• Ovarian Cancer

• Liver Cancer

• Others (Including Skin Cancer, Colorectal Cancer, Prostate Cancer, etc.)

By End User

• Hospitals

• Cancer Research Institutes

• Diagnostic Laboratories

• Others

By Country

• United States

• Canada