India's oncology tests market to grow at 2 pc CAGR through 2033: Report

by IANS |

New Delhi, Dec 13 (IANS) The oncology test market in India is expected to grow at a compound annual growth rate (CAGR) of around 2 per cent through 2033, according to a report on Friday.

The report by GlobalData, a data and analytics company, showed that the rise in cancers in the country is primarily due to lifestyle changes, environmental factors, and an ageing population.

Cancer poses a significant social and healthcare burden in India, creating a rising demand for advanced oncology diagnostic and treatment services. More than 1 Million new cases are diagnosed annually and around 900,000 deaths are recorded per year.

In 2024, India accounted for over 3 per cent of the Asia-Pacific (APAC) oncology tests market, the research reveals.

But, by accelerating efforts to develop innovative solutions and support cutting-edge research, the country aspires to increasingly address the healthcare needs of both its own population and global communities.

“Oncology tests in India face several challenges related to access, affordability, and technological adoption. Because of inadequate infrastructure and expertise, the adoption and integration of new approaches like AI-assisted diagnostics, precision medicine, and minimally invasive therapies are low,” said Shreya Jain, Medical Devices Analyst at GlobalData.

“Tailored diagnostics, like genomic tests calibrated for Indian cohorts, can enhance early detection accuracy, improve risk stratification, and ensure that treatments align with the unique genetic profiles of Indian patients. This not only helps improve survival rates in India but also contributes to the global understanding of cancer biology,” Jain said.

A recent report by ResearchAndMarkets.com, a market research firm showed that the future of the cancer diagnostic tests market in India is promising for companies seeking entry. This positive outlook is due to several factors including government initiatives like the National Cancer Control Programme and the Ayushman Bharat Scheme, which are increasing focus on cancer prevention, early detection, and treatment.