Hereditary Cancer Testing Market Growth Report 2021 to 2031
The hereditary cancer testing market size was estimated to be US$ 5.05 billion in 2021 and US$ XX billion in 2023 and is expected to reach US$ 14.59 billion by 2031; it is estimated to record a CAGR of 11.3% in 2023–2031. increasing prevalence of hereditary cancer and growing awareness about hereditary cancer are driving factors. Preference for personalized medicines will likely remain key to hereditary cancer testing market trends.
Hereditary Cancer Testing Market Analysis
Cancer is a genetic disorder caused by definite variations in genes that govern cell functioning, particularly affecting their growth and replication. Hereditary genetic mutations cause 5–10% of all cancers. The researchers have related mutations in particular genes with more than 50 hereditary cancer syndromes affecting individuals developing certain cancers. Furthermore, ~5–10% of breast cancers are related to the mutated genes inherited from parents. Variations in the BRCA1 and BRCA2 genes are prevalent. Women with a BRCA1 mutation have ~72% lifetime risk of growing breast cancer, while those with the BRCA2 mutation have ~69% risk of the same.
Hereditary Cancer Testing Market Overview
Asia Pacific is the fastest-growing market for hereditary cancer testing. The region has huge potential for hereditary cancer testing market players owing to government support in countries like South Korea for cancer awareness and other initiatives. The demand for genetic sequencing in China is growing, mainly due to the country’s rising middle class, elderly population, and increasing healthcare system. As per WHO data, the Chinese government has implemented the “Healthy China 2030” plan, which is useful for its population.
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Hereditary Cancer Testing Market: Strategic Insights
Market Size Value in US$ 3,967.74 million in 2018 Market Size Value by US$ 9,840.52 million by 2027 Growth rate CAGR of 11.1% from 2019 to 2027. Forecast Period 2019-2027 Base Year 2019
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Hereditary Cancer Testing Market: Strategic Insights
| Market Size Value in | US$ 3,967.74 million in 2018 |
| Market Size Value by | US$ 9,840.52 million by 2027 |
| Growth rate | CAGR of 11.1% from 2019 to 2027. |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
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Hereditary Cancer Testing Market Drivers and Opportunities
Growing Awareness About Hereditary Cancer
The awareness regarding hereditary cancer conditions is growing due to various efforts made by the government. In the past decade, public medical, health, and scientific communities have invested in spreading awareness regarding hereditary cancer conditions, with a major focus on hereditary cancer risk, family history, and genetic testing for inherited cancer liability. Furthermore, manufacturers are focusing on adopting strategies such as product launches and approvals, R&D investments, government funding, and partnerships to provide easy access for patients worldwide. For instance, in April 2024, Ambry Launched the Inter-Organization Cancer Genetics Clinical Evidence Coalition (INTERACT) collaboration to spur hereditary cancer testing, aiming to increase access to specialized genetic testing.
Growing Adoption of Multi-Gene Panel Testing – An Opportunity
A multi-gene panel eliminates running multiple assays for different cancer or variant types. Copy number variation (CNV) is a common source of genetic variation and is involved in many genetic disorders. It is also a critical component of a hereditary cancer diagnosis.
The UK Government and Genomic England have stated that all CNV analyses will now be performed by NGS rather than multiplex ligation-dependent probe amplification (MLPA). Due to its advantages, all laboratory processes will be streamlined and enable the detection of all SNVs, INDELs, and CNVs variants using a single workflow and analysis pipeline.
The adoption of multi-gene panel testing will be increased across various North American, European, and Asian countries.
Hereditary Cancer Testing Market Report Segmentation Analysis
Key segments that contributed to the derivation of the hereditary cancer testing market analysis are product diagnosis type, technology, and end user.
- Based on the diagnosis type, the hereditary cancer testing market is segmented into biopsy and imaging. The biopsy segment held the largest market share in 2023. However, imaging segment is anticipated to register the highest CAGR during the forecast period.
- Based on technology, the hereditary cancer testing market is segmented into sequencing, PCR, and microarray. The sequencing segment held the largest market share in 2023, and the same segment is projected to register the highest CAGR during the forecast period.
- Based on end user, the hereditary cancer testing market is segmented into diagnostic centers, hospitals, and clinics. The hospital segment held the largest market share in 2023. Moreover, the same segment is estimated to register the highest CAGR in the market during the forecast period.
Hereditary Cancer Testing Market Share Analysis by Geography
The geographic scope of the hereditary cancer testing market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
The North America Hereditary Cancer Testing market is segmented into the US, Canada, and Mexico. The US held the largest share of the North American hereditary cancer testing market 2023. The projected growth of the hereditary cancer testing market in North America is driven by the rising number of cancer patients, increasing government funding, and rising incidence of genetic diseases among the population in the US and Canada during recent years. The government also took initiatives to create awareness regarding cancer among the population. For instance, the American Society of Clinical Oncology (ASCO) offers a course on cancer awareness to spread complete and essential knowledge of this condition, including hereditary cancer genetics.
Hereditary Cancer Testing Market Report Scope
Hereditary Cancer Testing Market News and Recent Developments
The hereditary cancer testing market is evaluated by gathering qualitative and quantitative data from primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for hereditary cancer testing:
- Exact Sciences Corp. announced the Riskguard hereditary cancer test launch in the United States. This test provides an individualized patient report that includes gene-specific and familial risks using a simple blood or saliva sample for 10 common cancers, including colorectal, endometrial, gastric, pancreatic, breast, prostate, skin, ovarian, kidney and endocrine. (Exact Sciences Corp /Press Release, February 2024)
- Devyser announced the launch of two new products, Devyser LynchFAP and Devyser BRCA PALB2. These kits offer efficient, targeted, and confident analysis of genes associated with increased cancer risk. Devyser LynchFAP provides a comprehensive solution to analyze PMS2 and 9 other genes associated with hereditary colorectal cancer syndromes (Source: Devyser, Press Release, June 2023)
Hereditary Cancer Testing Market Report Coverage and Deliverables
The “Hereditary Cancer Testing Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Diagnosis Type, Technology, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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