Europe Cancer Diagnostics Market (2024-2031)
The Europe Cancer Diagnostics Market was valued at $7.94 billion in 2023. This market is expected to reach $12.21 billion by 2031, from an estimated $8.34 billion in 2024, at a CAGR of 5.6% during the forecast period 2024-2031. Europe Cancer Diagnostics Market Size & Forecast The Europe cancer diagnostics
- Published
- Feb 2024
- Pages
- 209
- Format
- PDF + Excel
- Report ID
- MRHC - 1041104
- Base year
- 2023
- 2023 · BASELINE
- $7.94B
- 2031
- $12.21B
- CAGR 2024–2031
- 5.6%
2023 baseline · 2024–2031 forecast at 5.6% CAGR · hover a bar for the value
Key highlights
The Europe Cancer Diagnostics Market was valued at $7.94 billion in 2023.
This market is expected to reach $12.21 billion by 2031, from an estimated $8.34 billion in 2024, at a CAGR of 5.6% during the forecast period 2024-2031.
In 2024, Germany is expected to account for the largest share of the Europe cancer diagnostics market. Germany’s large share can be attributed to the high cancer incidence, the high adoption of advanced technologies, established healthcare systems, rising healthcare expenditures, increasing investments and funding for cancer research, initiatives to raise awareness about cancer diagnosis, and the presence of major market players in the region.
Report summary
| Particulars | Details |
|---|---|
| Page No | 209 |
| Format | |
| Forecast Period | 2024-2031 |
| Base Year | 2023 |
| CAGR | 5.6% |
| Market Size (Value) | $12.21 billion by 2031 |
| Segments Covered | By Product · In Vitro Diagnostics · IVD Consumables · Kits & Assays · Reagents · IVD Instruments · Polymerase Chain Reaction (PCR) Systems · Microarray Readers · Immunoassay Analyzers · Sequencers · Other IVD Instruments · IVD Software & Services · (Note:Other IVD instruments include in-situ hybridization, hematology analyzers, and clinical chemistry analyzers) · Diagnostic Imaging · Imaging Instruments · Computed Tomography (CT) · Magnetic Resonance Imaging (MRI) · Mammography · Ultrasound · Other Imaging Instruments · (Note:Other imaging instruments include Positron Emission Tomography (PET) and X-ray) · Imaging Consumables · Contrast Agents · Syringes and Injectors · Contrast Delivery Systems · Skin Markers · Phantoms · Other Imaging Consumables · (Note:Other imaging consumables include films, gels, transducers, and probes, among others) · Imaging Software and Services · By Cancer Type · Breast Cancer · Lung Cancer · Colorectal Cancer · Prostate Cancer · Other Cancer Type · (Note: Other cancer types mainly include leukemia, lymphoma, stomach, ovarian, melanoma, kidney, brain, and cervical cancers, among others) · By End User · Hospital & Diagnostic Laboratories · Diagnostic Imaging Centers · Pharmaceutical & Biotechnology Companies · Academic & Research Institutes |
| Countries Covered | Europe (Germany, France, U.K., Spain, Italy, Switzerland, Netherlands, Rest of Europe) |
| Key Companies | F. Hoffmann-La Roche Ltd (Switzerland), Thermo Fisher Scientific Inc. (U.S.), QIAGEN N.V. (Netherlands), Abbott Laboratories (U.S.), Illumina, Inc. (U.S.), Siemens Healthineers AG (Germany), GE HealthCare Technologies Inc. (U.S.), Koninklijke Philips N.V (Netherlands), FUJIFILM Holdings Corporation (Japan), Canon Medical Systems Corporation (a subsidiary of Canon Inc.) (Japan), and Hologic, Inc. (U.S.). |
Report overview
Segments covered: product, cancer type, end user. Regions: Europe.
The Europe cancer diagnostics market is driven by the rising prevalence of cancer, supporting initiatives for early cancer diagnosis, increasing investments and funding for cancer research, rising awareness about cancer, and advancements in cancer diagnostics technology. However, the high cost of imaging systems restrains the growth of this market.
Furthermore, supporting initiatives toward precision diagnostics for cancer are expected to generate growth opportunities for the players operating in the Europe cancer diagnostics market. However, the lack of skilled professionals and insufficiencies in the national implementation of cancer screening programs are major challenges impacting the market growth.
The burden of cancer is growing in Europe. According to GLOBOCAN 2020, cancer incidence is expected to increase from 4.4 million in 2020 to 5.1 million in 2035. Early detection is extremely important in reducing mortality, improving patients’ chances of survival, and saving on treatment costs. Various methods are used to detect cancer. The demand for cancer testing in Europe is expected to grow significantly in the coming years. Traditional cancer therapies generally involve treatment approaches that are non-partial toward cancer cells and can result in several serious side effects.
Quick and reliable sequencing of multiple genes simultaneously is possible using advanced profiling technologies such as next-generation sequencing (NGS). The use of advanced profiling technologies, such as NGS and PCR, is gaining traction in the treatment of cancer due to their high accuracy and declining testing costs. Furthermore, NGS has helped develop precision medicine, which involves tailoring treatments based on disease-causing molecular changes in a person's body. While NGS is used in various scenarios, oncologists use it to sequence their patients' biopsy samples to determine the right medicines that can target the genetic abnormalities driving tumor growth. Thus, the growing adoption of NGS and sequencing technologies for cancer diagnosis is further expected to drive market growth.
Report infographic
Table of contents
11 chapters · 110 sections · 209 pages · click to expandGeographic analysis
Europe
Largest shareIn 2024, Germany is expected to account for the largest share of the Europe cancer diagnostics market. Germany’s large share can be attributed to the high cancer incidence, the high adoption of advanced technologies, established healthcare systems, rising healthcare expenditures, increasing investments and funding for cancer research, initiatives to raise awareness about cancer diagnosis, and the presence of major market players in the region. Due to the high incidence of cancer in Germany, there is a need to create awareness regarding its early diagnosis and treatment. These factors have led the German Federal Ministry of Education and Research (BMBF) and various stakeholders active in the field of cancer research to launch a joint initiative, namely the National Decade Against Cancer 2019–2029, to promote preventive measures, diagnostics, and therapies for cancer. Furthermore, the All.Can Germany initiative and DKTK – German Cancer Consortium are among the key notable projects of cancer care in the country. Germany to Dominate the Regional Market
Competitive landscape
The report includes a competitive landscape based on an extensive assessment of the product portfolio offerings, geographic presences, and key strategic developments in leading industry market players over the past years. The key players operating in the Europe cancer diagnostics market include F. Hoffmann-La Roche Ltd (Switzerland), Thermo Fisher Scientific Inc. (U.S.), QIAGEN N.V. (Netherlands), Abbott Laboratories (U.S.), Illumina, Inc. (U.S.), Siemens Healthineers AG (Germany), GE HealthCare Technologies Inc. (U.S.), Koninklijke Philips N.V (Netherlands), FUJIFILM Holdings Corporation (Japan), Canon Medical Systems Corporation (a subsidiary of Canon Inc.) (Japan), and Hologic, Inc. (U.S.).
- F. Hoffmann-La Roche Ltd · Switzerland
- Thermo Fisher Scientific Inc. (U.S.)
- QIAGEN N.V. · Netherlands
- Abbott Laboratories (U.S.)
- Illumina, Inc. (U.S.)
- Siemens Healthineers AG · Germany
- GE HealthCare Technologies Inc. (U.S.)
- Koninklijke Philips N.V · Netherlands
- FUJIFILM Holdings Corporation · Japan
- Hologic, Inc. (U.S.)
Frequently asked questions
The Europe cancer diagnostics market covers the market sizes & forecasts of offering, including product, cancer type, and end user. The Europe cancer diagnostics market studied in this report involves the value analysis of various segments and sub-segments of the Europe cancer diagnostics market at country levels.
Cite this report
Meticulous Research. (2024). Europe Cancer Diagnostics Market- Opportunity Analysis And Industry Forecast (2024-2031) (Report No. MRHC - 1041104). Meticulous Market Research Pvt. Ltd. https://www.meticulousresearch.com/product/europe-cancer-diagnostics-market-5787