U.S. Cancer Diagnostics Market Size & Outlook, 2023-2030
U.S. cancer diagnostics market, 2018-2030 (US$M)
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U.S. cancer diagnostics market highlights
- The U.S. cancer diagnostics market generated a revenue of USD 36,031.8 million in 2023 and is expected to reach USD 50,166.3 million by 2030.
- The U.S. market is expected to grow at a CAGR of 4.8% 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 36,031.8 million |
| Market revenue in 2030 | USD 50,166.3 million |
| Growth rate | 4.8% (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, U.S. accounted for 33.5% 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 North America, U.S. cancer diagnostics market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 10,750.1 million by 2030.
Consumables was the largest segment with a revenue share of 59.98% in 2023. Horizon Databook has segmented the U.S. cancer diagnostics market based on services, instruments, consumables covering the revenue growth of each sub-segment from 2018 to 2030.
The U.S. is the largest market for cancer diagnostic tests in North America, owing primarily to the high cancer prevalence in the country and consequent rapid adoption of cancer diagnostic tests. Furthermore, significant technological advancements, an increasing number of FDA approvals for tests, and competition among biotechnology companies are projected to boost market growth over the forecast period.
The emergence of proteome screening tests, as highlighted in a recent study in BMJ Oncology, presents a significant opportunity for the cancer diagnostics market. In January, 2024,Novelna Inc., a pioneering liquid biopsy startup, introduced a screening test named Proximity Extension Assay, which harnesses a sex-specific panel of 10 plasma proteins to potentially detect 18 types of cancers at their earliest stages.
Traditional screening methods, such as colonoscopies, CT scans, and mammograms, have drawbacks, including invasiveness, high costs, and limited accuracy, in detecting early-stage cancers. Furthermore, genomics-based multicancer tests, while promising, often exhibit low sensitivity for early stages and can be financially burdensome.
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Cancer Diagnostics Market Scope
Cancer Diagnostics Market Companies
| Name | Profile | # Employees | HQ | Website |
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U.S. cancer diagnostics market size, by product, 2018-2030 (US$M)
U.S. Cancer Diagnostics Market Outlook Share, 2023 & 2030 (US$M)
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