China Cancer Diagnostics Market Size & Outlook, 2023-2030
China cancer diagnostics market, 2018-2030 (US$M)
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China cancer diagnostics market highlights
- The China cancer diagnostics market generated a revenue of USD 4,337.2 million in 2023 and is expected to reach USD 8,680.0 million by 2030.
- The China market is expected to grow at a CAGR of 10.4% from 2024 to 2030.
- In terms of segment, consumables was the largest revenue generating product in 2023.
- Consumables is the most lucrative product segment registering the fastest growth during the forecast period.
Cancer diagnostics market data book summary
| Market revenue in 2023 | USD 4,337.2 million |
| Market revenue in 2030 | USD 8,680.0 million |
| Growth rate | 10.4% (CAGR from 2023 to 2030) |
| Largest segment | Consumables |
| Fastest growing segment | Consumables |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Services, Instruments, Consumables |
| Key market players worldwide | Abbott Laboratories, Roche Holding AG, GE HealthCare Technologies Inc Common Stock, Qiagen NV, Becton Dickinson & Co, Koninklijke Philips NV, Siemens Healthineers AG ADR, Hologic Inc, Thermo Fisher Scientific Inc, Illumina Inc |
Other key industry trends
- In terms of revenue, China accounted for 4.0% of the global cancer diagnostics market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan cancer diagnostics market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 8,680.0 million by 2030.
Consumables was the largest segment with a revenue share of 59.97% in 2023. Horizon Databook has segmented the China cancer diagnostics market based on services, instruments, consumables covering the revenue growth of each sub-segment from 2018 to 2030.
China’s government has undertaken various initiatives, such as free cervical cancer screening campaigns for women of all ages and collaborations with nonprofit organizations to improve the accessibility of tests. Various companies have entered into collaborations and partnership agreements to provide MCED tests in the country.
For example, in July 2022, Guardant Health collaborated with Adicon Holdings Limited, a Hangzhou-based clinical lab company, to offer its liquid biopsy test, which can detect 96% of early-stage cancer with a single blood draw.
Many biotechnology companies have initiated trials in China, as clinical trial regulations are lenient. Companies expect higher approvals for MCED tests in China than in European or LATAM countries, where trials required for approval & reimbursement are expensive. However, the remoteness of certain regions of the country may hamper test reach, and expensive testing is expected to impede market growth in China.
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Cancer Diagnostics Market Scope
Cancer Diagnostics Market Companies
| Name | Profile | # Employees | HQ | Website |
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China cancer diagnostics market size, by product, 2018-2030 (US$M)
China Cancer Diagnostics Market Outlook Share, 2023 & 2030 (US$M)
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