Gastric Cancer Diagnostic Market Expected to Reach $3.8 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Gastric Cancer Diagnostic Market," The gastric cancer diagnostic market size was valued at $2.3 billion in 2022, and is estimated to reach $3.8 billion by 2032, growing at a CAGR of 5.3% from 2023 to 2032. Gastric cancer, also known as stomach cancer, is a growth of cells that starts in the stomach. Various tests and procedures are used to diagnose stomach cancer such as upper endoscopy, blood test, stomach ultrasound, and biomarker testing. Gastric cancer, characterized by the uncontrolled growth of malignant cells in the stomach lining, ranks among the leading causes of cancer-related deaths worldwide. Early diagnosis is crucial for improving patient outcomes and increasing survival rates. 

The increase in incidence of stomach cancer drives the need for diagnostic procedures, which propels market growth. For instance, according to the World Cancer Research Fund International, stomach cancer is the 5th most common cancer worldwide. It is the 4th most common cancer in men and the 7th most common cancer in women. In 2020, there were more than 1 million new cases of stomach cancer. 

In addition, the field of diagnostic imaging has witnessed remarkable advancements, with high-resolution endoscopy, PET/CT scans, MRI, and other technologies providing detailed visualization of gastric tumors. This has improved the accuracy of diagnosis and staging. Thus, ongoing advancements in diagnostic technologies, including next-generation sequencing, liquid biopsies, and advanced imaging, enhance the accuracy and speed of diagnosis, which propels the gastric cancer diagnostic market trends. 

However, high diagnostic cost and stringent regulations & policies for testing hamper market growth. Moreover, rise in technological advancements and high growth rate exhibited by developing economies are expected to present lucrative opportunities for key players in the gastric cancer diagnostic industry during the forecast period.  

The gastric cancer diagnostic market size is segmented on the basis of product, disease type, end user, and region. On the basis of product, the market is categorized reagents & consumables, and instruments. The reagents & consumables segment accounted for the largest gastric cancer diagnostic market share in 2022. This is attributed to the increase in adoption of molecular testing in the diagnosis of gastric cancer, which has driven the demand for specific reagents designed for detecting genetic mutations, biomarkers, and other molecular indicators associated with the disease. 

However, the instrument segment is expected to register the highest CAGR during the gastric cancer diagnostic market forecast period due to rise in technological advancements, an emphasis on early detection, patient-centric care, and a greater focus on personalized medicine. 

On the basis of disease type, the gastric cancer diagnostic market analysis is classified into adenocarcinoma, gastric lymphoma, and others. The adenocarcinoma segment accounted for the largest gastric cancer diagnostic market share in 2022 and is expected to register the highest CAGR during the forecast period, owing to rise in incidence of adenocarcinoma, the continuous advancement of diagnostic technologies, a focus on early detection, and personalized care. 

On the basis of end user, the market is categorized into hospitals, diagnostic laboratories, and diagnostic imaging centers. The diagnostic laboratories segment accounted for the largest share in 2022, owing to the accurate diagnosis and effective management of gastric cancer in laboratories and rise in number people suffering from gastric cancer.  

Region wise, North America dominated the gastric cancer diagnostic industry, owing to well-established healthcare system, rise in prevalence of gastric cancer, technological advancement in diagnostics, and rise in number of product approvals. In addition, significant investments in R&D in the medical sector and modernization of healthcare facilities have created a positive impact on the market. However, Asia-Pacific is anticipated to witness notable growth owing to increase in government initiatives for diagnostic services, increase in prevalence of stomach cancer, and development of medical technology industry. 

Key Findings of the Study 

• On the basis of product, the reagents and consumables segment was largest contributor to the market in 2022. However, the instrument segment is anticipated to grow at the highest CAGR during the forecast period. 
• On the basis of disease type, adenocarcinoma segment was largest contributor to the market in 2022.
• On the basis of end user, the diagnostic laboratories segment was largest contributor to the market in 2022.
• Region wise, North America generated the largest revenue in 2022. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.