North America Cancer Diagnostics Market Insights Forecasts to 2033

• The North America Cancer Diagnostics Market Size was valued at USD 18.19 Billion in 2023.
• The Market Size is Growing at a CAGR of 6.4% from 2023 to 2033
• The North America Cancer Diagnostics Market Size is Expected to Reach USD 33.84 Billion by 2033

The North America Cancer Diagnostics Market Size is Anticipated to Reach USD 33.84 Billion by 2033, Growing at a CAGR of 6.4% from 2023 to 2033

Market Overview

Cancer diagnosis is a method for identifying various proteins, biomarkers, and other signs that aid in the detection of cancerous tumors in patients. The identification of specific biomarkers or proteins found in cancer diseases aids in the diagnostic process. The cancer screening process typically involves the use of techniques or instruments commonly used in cancer diagnostics. The rising cancer prevalence in the region is one of the primary factors driving the growth of the cancer diagnostics market. The increase in healthcare professionals focusing on the development of effective diagnostic and treatment solutions to monitor prevalence levels, as well as the expansion of the number of private diagnostic centers, are driving market growth. The increase in the number of cancer screening recommendations, as well as the availability of Computed Tomography (CT) scans and Magnetic Resonance Imaging (MRI), which are quick, non-invasive, and painless diagnostic solutions, have all had an impact on market demand. Also, population growth, improvements in healthcare infrastructure, and reimbursement availability all have a positive impact on the cancer diagnostics market. The North America cancer diagnostics market is experiencing significant growth, driven by an aging population, significant government initiatives for cancer screening programs, and ongoing research and development efforts in the healthcare industry.

Report Coverage

This research report categorizes for the North America cancer diagnostics market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the North America cancer diagnostics market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the North America cancer diagnostics market.

Driving Factors

Increased healthcare infrastructure development is likely to create lucrative opportunities for the growth of the North America cancer diagnostics market. The U.S. Department of Health and Human Services' 2023 report highlights significant progress, particularly with the Advanced Research Projects Agency for Health (ARPA-H), a division dedicated to advancing biomedical health technologies. ARPA-H, which has invested more than $330 million, is dedicated to fostering healthcare innovation through strategic support for innovative platforms, skills, and resources. The agency focuses on areas with the potential to transform medicine and health, going beyond the capabilities of traditional research or commercial ventures. Notably, as part of the Unity Agenda, the President worked with Congress to establish and fund ARPA-H, emphasizing its importance in advancing cancer prevention, detection, and treatment. This intensive effort demonstrates the commitment to transformative healthcare solutions, paving the way for profitable opportunities and strong growth in the North America cancer diagnostics market.

Restraining Factors

The North America cancer diagnostics market, as a critical component of the healthcare system, may face challenges in maintaining its growth trajectory and providing optimal patient care amidst the uncertainties caused by geopolitical tensions.

Market Segmentation

The North America cancer diagnostics market share is classified into product and type

• The consumables segment is expected to hold the largest market share through the forecast period.

The North America cancer diagnostics market is segmented by product into instruments, consumables, and services. Among these, the consumables segment is expected to hold the largest market share through the forecast period. Developing imaging diagnostic techniques or effective monoclonal antibody-based assays for detecting antigens and small chemicals produced by malignant cells would significantly advance diagnostic medicine. Although mAb technology is still in its early stages, advances in recombinant antigen synthesis and antibody creation techniques have significantly increased its diagnostic potential.

• The IVD segment is expected to dominate the North America cancer diagnostics market during the forecast period.       

Based on the type, the North America cancer diagnostics market is divided into IVD, LDT, and imaging. Among these, the IVD segment is expected to dominate the North America cancer diagnostics market during the forecast period. The development of automated IVD systems for hospitals and laboratories that provide accurate, efficient, and error-free diagnostics is expected to drive market expansion.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the North America cancer diagnostics market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Roche
• BioMérieux SA
• NeoGenomics Laboratories, Inc.
• Telerad Tech.
• F. Hoffmann-La Roche Ltd
• GENERAL ELECTRIC
• Hologic, Inc.
• Illumina, Inc.
• QIAGEN
• BioGenex
• Koninklijke Philips N.V.
• Thermo Fisher Scientific Inc.
• Abbott
• Agilent Technologies
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In June 2022, Roche unveiled its BenchMark ULTRA PLUS cancer diagnostic system. This cutting-edge system allows healthcare providers to provide timely and targeted care to cancer patients.

Market Segment

This study forecasts revenue at North America, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the North America cancer diagnostics market based on the below-mentioned segments:

North America Cancer Diagnostics Market, By Product

• Instruments
• Consumables
• Services

North America Cancer Diagnostics Market, By Type

• IVD
• LDT
• Imaging