Next Generation Cancer Diagnostics Global Market Report 2025

The next generation cancer diagnostics market size has grown rapidly in recent years. It will grow from $12.71 billion in 2024 to $14.4 billion in 2025 at a compound annual growth rate (CAGR) of 13.3%. The growth in the historic period resulted from the increasing prevalence of cancer worldwide, growing adoption of molecular diagnostics, rising demand for early cancer detection, expansion of healthcare infrastructure, and greater use of biomarker-based screening.

The next generation cancer diagnostics market size is expected to see rapid growth in the next few years. It will grow to $23.45 billion in 2029 at a compound annual growth rate (CAGR) of 13%. The growth in the forecast period will be driven by a rising focus on precision oncology, increasing demand for minimally invasive diagnostic techniques, growing adoption of artificial intelligence and digital tools in cancer detection, expansion of genomic testing services, and increasing government funding for cancer research. Major trends in the forecast period include the development of non-invasive diagnostic assays, integration of cloud-based data analytics, innovations in nanotechnology-based biosensors, incorporation of real-world evidence and clinical data, and the integration of robotics and automation.

The rising demand for personalized medicines is expected to drive the expansion of the next-generation cancer diagnostics market in the coming years. Personalized medicines are treatments tailored to an individual’s genetic makeup, lifestyle, and environment to ensure the most effective therapy for each patient. This demand is fueled by the growing prevalence of chronic and rare diseases, which require targeted, patient-specific treatments for better clinical outcomes. Next-generation cancer diagnostics support personalized medicine by providing precise molecular insights that inform customized treatment strategies based on a patient’s unique genetic and tumor profile. For example, in February 2024, the Personalized Medicine Coalition, a US-based non-profit organization, reported that the FDA approved 16 new personalized therapies for patients with rare diseases in 2023, a notable increase from six approvals in 2022. Consequently, the rising demand for personalized medicines is driving the growth of the next-generation cancer diagnostics market.

Key players in the next-generation cancer diagnostics market are developing innovative solutions such as artificial intelligence-driven multi-modal diagnostic platforms to improve early detection, personalized therapy, and clinical decision-making. These AI-powered multi-modal platforms integrate and analyze diverse biological data - including genomic, proteomic, imaging, and clinical information - to deliver more accurate and individualized cancer detection and diagnosis. For instance, in April 2025, OneCell Diagnostics Pvt Ltd., an India-based precision oncology company, launched OncoIncytes, a multi-modal cancer diagnostic platform designed for precision oncology. The platform combines circulating tumor DNA, single-cell circulating tumor cells, RNA data, and detailed protein profiles of 150 proteins at the single-cell level. Using a 1,080-gene panel powered by AI and machine learning, OncoIncytes provides highly sensitive and specific insights to improve clinical trial outcomes, particularly in early-stage research and antibody-drug conjugate development. The platform facilitates personalized cancer detection, therapy monitoring, and drug development through non-invasive, real-time, and scalable diagnostics, all accessible via OneCell’s proprietary iDiscover application from a CLIA-certified laboratory.

In June 2023, Quest Diagnostics Inc., a US-based healthcare diagnostics company, acquired Haystack Oncology for an undisclosed amount. This acquisition aimed to strengthen Quest Diagnostics’ capabilities in the rapidly growing minimal residual disease (MRD) liquid biopsy market. Haystack Oncology Inc., a US-based firm, provides next-generation cancer diagnostics through its tumor-informed MRD test, Haystack MRD.

Major companies operating in the next generation cancer diagnostics market are F. Hoffmann-La Roche AG, Novartis AG, Thermo Fisher Scientific Inc., Abbott Laboratories Inc., Siemens Healthineers AG, Danaher Corporation, Koninklijke Philips N.V., General Electric Company, Becton, Dickinson and Company, Agilent Technologies Inc., Illumina Inc., Sysmex Corporation, Bio-Rad Laboratories Inc., Exact Sciences Corporation, QIAGEN N.V., Almac Group Ltd., Natera Inc., Myriad Genetics Inc., NeoGenomics Inc., Guardant Health Inc., Freenome Holdings Inc., Personalis Inc., Burning Rock Biotech Limited., SOPHiA GENETICS S.A., Singlera Genomics Co. Ltd.

North America was the largest region in the next generation cancer diagnostics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in next generation cancer diagnostics report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the next generation cancer diagnostics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The sudden escalation of U.S. tariffs and the consequent trade frictions in spring 2025 are severely impacting the healthcare sector, particularly in the supply of critical medical devices, diagnostic equipment, and pharmaceuticals. Hospitals and healthcare providers are facing higher costs for imported surgical instruments, imaging equipment, and consumables such as syringes and catheters, many of which have limited domestic alternatives. These increased costs are straining healthcare budgets, leading some providers to delay equipment upgrades or pass on expenses to patients. Additionally, tariffs on raw materials and components are disrupting the production of essential drugs and devices, causing supply chain bottlenecks. In response, the industry is diversifying sourcing strategies, boosting local manufacturing where possible, and advocating for tariff exemptions on life-saving medical products.

The next generation cancer diagnostics market research report is one of a series of new reports that provides next generation cancer diagnostics market statistics, including next generation cancer diagnostics industry global market size, regional shares, competitors with a next generation cancer diagnostics market share, detailed next generation cancer diagnostics market segments, market trends and opportunities, and any further data you may need to thrive in the next generation cancer diagnostics industry. This next generation cancer diagnostics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Next generation cancer diagnostics refers to advanced diagnostic technologies that enable precise detection, characterization, and monitoring of cancer at the molecular and genetic levels. These diagnostics use cutting-edge tools such as genomics, proteomics, and liquid biopsy to support early detection, personalized treatment planning, and improved patient outcomes.

The main technologies used in next generation cancer diagnostics include next-generation sequencing (NGS), q-polymerase chain reaction and multiplexing, lab-on-a-chip (LOAC) and reverse transcriptase-polymerase chain reaction (RT-PCR), circulating tumor deoxyribonucleic acid (ctDNA) assays, protein microarrays, deoxyribonucleic acid microarrays, and others. Next-generation sequencing (NGS) is a high-throughput DNA sequencing method that enables rapid, simultaneous sequencing of millions of DNA fragments, allowing comprehensive analysis of genomes, transcriptomes, and genetic variations. These technologies target various cancer types, including lung cancer, breast cancer, colorectal cancer, and cervical cancer. Their functions include therapeutic monitoring, companion diagnostics, prognostics, cancer screening, and risk analysis. They are applied in biomarker development, circulating tumor cell (CTC) analysis, proteomic analysis, epigenetic analysis, and genetic analysis, and serve end users such as hospitals and clinics, diagnostic laboratories, research and academic institutions, pharmaceutical and biotechnology companies, and home care settings.

The next generation cancer diagnostics market consists of revenues earned by entities by providing services such as genomic and molecular profiling, liquid biopsy testing, next-generation sequencing (NGS) services, companion diagnostics development, and bioinformatics and data interpretation services. The market value includes the value of related goods sold by the service provider or included within the service offering. The next generation cancer diagnostics market also includes sales of gene panels, single-cell analysis systems, nanotechnology-based biosensors, molecular imaging agents, and exosome isolation kits. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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