Cancer Diagnostics Market to Reach $44.92 Billion by 2031 as Asia-Pacific Posts 6.5% CAGR
Updated
Updated · PR Newswire · Aug 17
Cancer Diagnostics Market to Reach $44.92 Billion by 2031 as Asia-Pacific Posts 6.5% CAGR
1 articles · Updated · PR Newswire · Aug 17
Summary
$44.92 billion is the projected size of the global cancer diagnostics market in 2031, up from $29.86 billion in 2026, according to a MarketsandMarkets forecast.
A 7.0% CAGR is being driven by rising cancer incidence, wider screening programs, aging populations and stronger demand for early detection and precision oncology tools.
IVD testing products are expected to remain the leading product segment, while clinical laboratories are projected to hold the largest end-user share because of high-volume oncology testing and automation.
Asia-Pacific is forecast to grow fastest at a 6.5% CAGR, supported by expanding healthcare infrastructure, government screening initiatives and broader adoption of NGS, liquid biopsy and digital pathology.
The market remains concentrated, with the top five companies holding about 60% of 2025 revenue as acquisitions and investment continue to target AI pathology, liquid biopsy and genomic testing.
With mega-deals reshaping cancer diagnostics, which emerging AI or liquid biopsy technology will trigger the industry's next billion-dollar buyout?
Could the explosive $44 billion growth in cancer testing be driven more by high-tech diagnostic costs than actual improvements in patient survival?
As oncology shifts toward blood-based profiling, will ongoing reimbursement hurdles prevent advanced liquid biopsies from reaching the average patient?