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Cancer-focused Genetic Testing Service Market

Cancer-focused Genetic Testing Service Market Size, Share & Trends Analysis Report By Test Type (Chromosome Testing, DNA Testing, Direct DNA Testing, Indirect DNA Testing, Biochemical Genetic Testing), By Cancer Type (Breast Cancer, Colorectal Cancer, Lung Cancer, Bladder Cancer, Kidney Cancer, Other), By Service Provider, By Region, And By Segment Forecasts, 2024-2031

Report ID : 2622 | Published : 2024-08-01 | Pages: 175 | Format: PDF/EXCEL

The Cancer-focused Genetic Testing Service Market Size is valued at USD 7.82 billion in 2023 and is predicted to reach USD 14.41 billion by the year 2031 at an 8.2% CAGR during the forecast period for 2024-2031.

genetic testing

Genetic testing services that specifically target cancer are an essential part of contemporary oncology, providing substantial advantages in evaluating risk, preventing the disease, and tailoring treatment to individual patients. Through comprehending genetic predispositions, individuals and healthcare practitioners can make well-informed judgments that enhance outcomes and potentially preserve lives.

The increasing prevalence of cancer worldwide is fueling the need for specialized genetic testing services tailored to cancer detection. Prompt detection and personalized therapy are crucial as the prevalence of cancer increases. Genetic testing services have the ability to identify gene mutations that drive the likelihood of developing cancer, allowing for focused treatment and preventative strategies. These services are also more precise and efficient due to the utilization of advanced genetic testing technologies such as next-generation sequencing (NGS). Next-generation sequencing (NGS) rapidly and comprehensively examines many genes, unveiling an individual's genetic makeup and susceptibility to cancer. This technique has facilitated cost reduction and simplification of genetic testing, hence fostering the growth of the sector.

The cancer-specific genetic testing business faces obstacles due to regulatory and ethical concerns, despite its increasing potential. The development and adoption of novel diagnostic technologies might be hindered by restrictions on patient privacy and the exploitation of genetic data. Issues such as hereditary discrimination and the psychological impact of test results add complexity to the situation. Specialized expertise is required for the interpretation of genetic data, so skilled specialists are necessary. The limited availability of these experts might impede the collaboration of genetic testing into clinical practice.

Competitive Landscape

Some Major Key Players In The Cancer-focused Genetic Testing Service Market:

  • Cleveland Clinic
  • Fortis Healthcare
  • KIMS Hospitals
  • Rush University Medical Center
  • The Johns Hopkins Hospital
  • Bridgeport Hospital
  • Greenwich Hospital
  • Lawrence Memorial Hospital
  • Westerly Hospital
  • Yale New Haven Hospital
  • Northeast Medical Group
  • Other Market Players

 

Market Segmentation:

The Cancer-focused Genetic Testing Service market is segmented on the basis of Test Type, Cancer Type, and Service Provider. Based on Test Type segment, the market is divided into Chromosome Testing, DNA Testing, Direct DNA Testing, Indirect DNA Testing, and Biochemical Genetic Testing. By Cancer Type, the market is segmented into Breast Cancer, Lung Cancer, Bladder Cancer, Colorectal Cancer, Kidney Cancer, and Others. By service providers, the market is segmented into hospitals, speciality clinics, diagnostic laboratories, and specialized cancer institutes.

According To Cancer Type, The Breast Cancer Segment Is Accounted As A Major Contributor In The Cancer-Focused Genetic Testing Service Market.

The Breast Cancer sub-segment is expected to hold a major share in the global Cancer-focused Genetic Testing Service market in 2023. Breast cancer, a widespread kind of cancer that affects women worldwide, often does not exhibit clear signs in its first stages. The proliferation of private diagnostic centres for breast cancers worldwide may be ascribed to escalating demand for diagnostic imaging operations and the increasing burden on public hospitals, which often have restricted access to imaging modalities. In response to this prevailing pattern, FUJIFILM Corporation developed NURA, a dedicated medical screening facility with a specific emphasis on cancer screening, located in Bangalore, India. This facility is a partnership between FUJIFILM DKH LLP (FUJIFILM DKH) and Dr. Kutty's Healthcare (DKH). FUJIFILM DKH LLP is a collaborative partnership between FUJIFILM and Dr. Kutty's Healthcare, a healthcare provider that manages hospitals and screening facilities across India and the Middle East.

The Diagnostic Laboratories Segment Witnessed Growth At A Rapid Rate

Conversely, the diagnostic laboratory category is seeing the most rapid growth among end users in the worldwide genetic testing market. Genetic testing firms are forming partnerships and collaborations with digital labs, resulting in a rapid increase in their growth rate. Thermo Fisher Scientific has facilitated genetic research in labs by offering tools such as NGS (Next-Generation Sequencing) and quantitative PCR. The use of these emerging technologies will facilitate the detection and analysis of genetic testing, hence stimulating market growth throughout the projected timeframe.

In The Region, The North America Cancer-Focused Genetic Testing Service Market Holds A Significant Revenue Share.

North America leads the way in market innovation due to its robust healthcare infrastructure, rapid technology advancements, and elevated prevalence of cancer. Prominent industry leaders emphasize the advancement of genetic testing capabilities to provide complete solutions for tailored cancer treatment and prevention.The market is also propelled by government initiatives targeted at fostering accessible healthcare and advancements in genetic research and technology. Leading companies in these fields use artificial intelligence and big data analytics to improve the accuracy and efficiency of genetic testing, hence fueling their rapid expansion in the market. Moreover, The Asia-Pacific region is at the forefront of the market for cancer-focused genetic testing services. This phenomenon may be attributed to the fast development of the healthcare sector and the growing incidence of cancer, both of which are fueled by significant investments. These nations benefit from the increase in healthcare expenditure, the expansion of the middle-class population, and the increasing recognition of the benefits of genetic testing for cancer therapy.

Cancer-focused Genetic Testing Service Market Report Scope

Report Attribute

Specifications

Market Size Value In 2023

USD 7.82 Bn

Revenue Forecast In 2031

USD 14.41 Bn

Growth Rate CAGR

CAGR of 8.2% from 2024 to 2031

Quantitative Units

Representation of revenue in US$ Bn and CAGR from 2024 to 2031

Historic Year

2019 to 2023

Forecast Year

2024-2031

Report Coverage

The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends

Segments Covered

By Test Type, Cancer Type And Service Provider

Regional Scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country Scope

U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea

Competitive Landscape

Cleveland Clinic, Fortis Healthcare, KIMS Hospitals, Rush University Medical Center, The Johns Hopkins Hospital, Bridgeport Hospital, Greenwich Hospital, Lawrence Memorial Hospital, Westerly Hospital, Yale New Haven Hospital, and Northeast Medical Group.

Customization Scope

Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape.

Pricing And Available Payment Methods

Explore pricing alternatives that are customized to your particular study requirements.

 

Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Cancer-Focused Genetic Testing Service Market Snapshot

Chapter 4. Global Cancer-Focused Genetic Testing Service Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: By Test Type Estimates & Trend Analysis
5.1. By Test Type & Market Share, 2023 & 2031
5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following By Test Type:

5.2.1. Chromosome
5.2.2. DNA
5.2.3. Direct DNA Testing
5.2.4. Indirect DNA Testing
5.2.5. Biochemical

Chapter 6. Market Segmentation 2: By Cancer Type Estimates & Trend Analysis
6.1. By Cancer Type & Market Share, 2023 & 2031
6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following By Cancer Type:

6.2.1. Breast Cancer
6.2.2. Colorectal Cancer
6.2.3. Lung Cancer
6.2.4. Bladder Cancer
6.2.5. Kidney Cancer
6.2.6. Other Cancer Types

Chapter 7. Market Segmentation 3: By Service Provider Estimates & Trend Analysis
7.1. By Service Provider & Market Share, 2023 & 2031
7.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following By Service Provider:

7.2.1. Hospitals
7.2.2. Specialty Clinics
7.2.3. Diagnostic Laboratories
7.2.4. Specialized Cancer Institutes

Chapter 8. Cancer-Focused Genetic Testing Service Market Segmentation 4: Regional Estimates & Trend Analysis

8.1. North America
8.1.1. North America Cancer-Focused Genetic Testing Service Market Revenue (US$ Million) Estimates and Forecasts by Test Type, 2024-2031
8.1.2. North America Cancer-Focused Genetic Testing Service Market Revenue (US$ Million) Estimates and Forecasts by Cancer Type, 2024-2031
8.1.3. North America Cancer-Focused Genetic Testing Service Market Revenue (US$ Million) Estimates and Forecasts by Service Provider, 2024-2031
8.1.4. North America Cancer-Focused Genetic Testing Service Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031

8.2. Europe

8.2.1. Europe Cancer-Focused Genetic Testing Service Market Revenue (US$ Million) Estimates and Forecasts by Test Type, 2024-2031
8.2.2. Europe Cancer-Focused Genetic Testing Service Market Revenue (US$ Million) Estimates and Forecasts by Cancer Type, 2024-2031
8.2.3. Europe Cancer-Focused Genetic Testing Service Market Revenue (US$ Million) Estimates and Forecasts by Service Provider, 2024-2031
8.2.4. Europe Cancer-Focused Genetic Testing Service Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031

8.3. Asia Pacific
8.3.1. Asia Pacific Cancer-Focused Genetic Testing Service Market Revenue (US$ Million) Estimates and Forecasts by Test Type, 2024-2031
8.3.2. Asia Pacific Cancer-Focused Genetic Testing Service Market Revenue (US$ Million) Estimates and Forecasts by Cancer Type, 2024-2031
8.3.3. Asia Pacific Cancer-Focused Genetic Testing Service Market Revenue (US$ Million) Estimates and Forecasts by Service Provider, 2024-2031
8.3.4. Asia Pacific Cancer-Focused Genetic Testing Service Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031

8.4. Latin America
8.4.1. Asia Pacific Cancer-Focused Genetic Testing Service Market Revenue (US$ Million) Estimates and Forecasts by Test Type, 2024-2031
8.4.2. Latin America Cancer-Focused Genetic Testing Service Market Revenue (US$ Million) Estimates and Forecasts by Cancer Type, 2024-2031
8.4.3. Latin America Cancer-Focused Genetic Testing Service Market Revenue (US$ Million) Estimates and Forecasts by Service Provider, 2024-2031
8.4.4. Latin America Cancer-Focused Genetic Testing Service Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031

8.5. Middle East & Africa
8.5.1. Middle East & Africa Cancer-Focused Genetic Testing Service Market Revenue (US$ Million) Estimates and Forecasts by Test Type, 2024-2031
8.5.2. Middle East & Africa Cancer-Focused Genetic Testing Service Market Revenue (US$ Million) Estimates and Forecasts by Cancer Type, 2024-2031
8.5.3. Middle East & Africa Cancer-Focused Genetic Testing Service Market Revenue (US$ Million) Estimates and Forecasts by Service Provider, 2024-2031
8.5.4. Middle East & Africa Cancer-Focused Genetic Testing Service Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031

Chapter 9. Competitive Landscape
9.1. Major Mergers and Acquisitions/Strategic Alliances
9.2. Company Profiles

9.2.1. Cleveland Clinic
9.2.2. Fortis Healthcare
9.2.3. KIMS Hospitals
9.2.4. Rush University Medical Center
9.2.5. The Johns Hopkins Hospital
9.2.6. Bridgeport Hospital
9.2.7. Greenwich Hospital
9.2.8. Lawrence Memorial Hospital
9.2.9. Westerly Hospital
9.2.10. Yale New Haven Hospital
9.2.11. Northeast Medical Group
9.2.12. Other Prominent Players

Segmentation of Cancer-focused Genetic Testing Service Market-

Cancer-focused Genetic Testing Service Market By Test Type -

  • Chromosome Testing
  • DNA Testing
  • Direct DNA Testing
  • Indirect DNA Testing
  • Biochemical Genetic Testing

genetic testing

Cancer-focused Genetic Testing Service Market By Cancer Type -

  • Breast Cancer
  • Colorectal Cancer
  • Lung Cancer
  • Bladder Cancer
  • Kidney Cancer
  • Other

Cancer-focused Genetic Testing Service Market By Service Provider-

  • Hospital
  • Specialty Clinics
  • Diagnostic Laboratories
  • Specialized Cancer Institutes

Cancer-focused Genetic Testing Service Market By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa

 

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

 

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Frequently Asked Questions

How big is the Cancer-focused Genetic Testing Service Market Size?

The Cancer-focused Genetic Testing Service Market is expected to grow at an 8.2% CAGR during the forecast period for 2024-2031.

Cleveland Clinic, Fortis Healthcare, KIMS Hospitals, Rush University Medical Center, The Johns Hopkins Hospital, Bridgeport Hospital, Greenwich Hospit

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