The Global Multicancer Screening Market Size is valued at 1.85 billion in 2022 and is predicted to reach 6.57 billion by the year 2031 at a 15.32% CAGR during the forecast period for 2023-2031.
The increasing incidence of cancer and the requirement for early diagnosis diagnostics, which make simple disease management possible and thereby reduce the death rate, are the main drivers of market revenue growth. 2020 saw about 10 million cancer-related deaths worldwide, making it the leading cause of death. The most frequent cancers in terms of new cases in 2020 were breast, lung, colon and rectum, prostate, skin, and stomach.
Consequently, there is a peak in demand for MCEDS as cancer incidence rises. Multi-Cancer Early Detection (MCED) testing, a minimally invasive technology, can identify malignancies from many organ sites with just one test, reducing the number of operations and saving time.
Large-scale R&D for the creation of MCED is another element boosting market revenue growth. For instance, research to identify and validate novel biomarker combinations that detect various malignancies early was initiated in Singapore on July 8, 2022. For instance, the biotechnology business MIRXES Ptr Ltd. disclosed that Project CADENCE had started following the signing of a memorandum of agreement (Cancer Detected Early can be Cured). This project is the first large-scale clinical research project of its kind in the world, and it will enable the development of a multi-cancer early detection test for up to nine cancers with a high incidence and mortality rate, including lung, breast, colorectal, liver, stomach (gastric), esophageal, ovarian, pancreatic, and prostate cancers.
Recent Developments:
- In December 2022, The LENA Q51(R) launch has been scheduled for January 2023, according to Alercell. It is a DNA-based diagnostic test for leukaemia that can find up to 51 gene abnormalities in those who have the disease.
- In June 2022, A CE mark was awarded to Burning Rock Biotech Limited for its OverC multi-cancer detection blood test. A high-quality in vitro diagnostic tool based on next-generation sequencing (NGS) is the OverC Multi-Cancer Detection Blood Test.
Competitive Landscape:
Some of the Multicancer Screening market players are:
- Agilent Technologies, Inc.
- Atara Biotherapeutics, Inc.
- Burning Rock DX
- Danaher Corporation
- Exact Sciences Corporation
- Hoffmann-La Roche Ltd
- Fulgent Genetics.
- Genecast Biotechnology Co., Ltd
- Guardant Health, Inc.
- Illumina, Inc.
- Konica Minolta, Inc.
- Laboratory Corporation of America Holdings.
- Myriad Genetics, Inc.
- Tempus
- Thermo Fisher Scientific Inc.
Market Segmentation:
The Multicancer Screening market is segmented on the basis of test type, technology, sample, method, cancer type, application, and end-user. Test type segment includes Laboratory Developed Tests (LDTs) and In-Vitro Diagnostics (IVDs). The technology segment includes Next-Generation Sequencing (NGS), Polymerase Chain Reaction (PCR), Immunohistochemistry (IHC), Fluorescence In-Situ Hybridization (FISH), and Other Technologies. By sample, the market is segmented into Tissue, Blood, Saliva, Buccal Swabs, and Others.
The method segment includes DNA, RNA, and Proteins. By cancer type, the market is segmented as Breast and Gynecologic, Gastrointestinal, Endocrine, Genitourinary, Skin, Brain/Nervous System, Sarcoma, Hematological Malignancies, Lung, Head and Neck, and Other Cancer Types. Application segment covers Clinical and Research. By end user, the market is categorized into Hospitals, Diagnostic and Clinical Laboratories, Academic and Research Institutions, and Other End Users
Based On End User, The Hospitals Segment Is Accounted As A Major Contributor In The Multicancer Screening Market
With the majority of market revenue, the hospitals segment dominated the entire market. The prevalence of specialized medical professionals and healthcare workers who are involved in diagnosis and treatment is responsible for this segment's dominance. Hospitals are used as a platform to inform and raise public knowledge of various illnesses and ailments. The target audience knows very little about MCED, a new technology. As a result, hospitals examine asymptomatic people for several types to facilitate therapy.
LDTs Segment Witness Growth At A Rapid Rate
Due to the fact that it offers testing for several cancers, the LDT category had the highest revenue share. Gene panels target the identification of hereditary malignancies, and rising public awareness of hereditary diseases is expediting demand for genetic testing that can identify cancers early and enhance patient survival rates.
In The Region, The Europe Multicancer Screening Market Holds Significant Revenue Share
In Europe, the use of multi-cancer early detection has expanded in industries including hospitals, labs, diagnostic centers, and other significant market developments. The global market expansion in Europe is anticipated to be encouraged by the rising population, which is linked to a greater vulnerability to cancer-related chronic diseases and the economical diagnosis of chronic diseases in rural areas.
The market has grown significantly as a result of the increasing number of instances in Europe. For instance, according to a 2019 article by Eurostat, among the EU Member States, Hungary and Croatia had the highest standardized death rates for cancer, each with at least 300 per 100 000 residents. Due to these reasons, the European Union has started and intensified its attention on regional multi-cancer early detection programs.
Multicancer Screening Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2022 |
USD 1.85 Bn |
|
Revenue forecast in 2031 |
USD 6.57 Bn |
|
Growth rate CAGR |
CAGR of 15.32 % from 2023 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Billion, and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
|
Segments covered |
Test Type, Technology, Sample, Method, Cancer Type, Application, And End-User |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
Agilent Technologies, Inc., Atara Biotherapeutics, Inc., Burning Rock DX, Danaher Corporation, Exact Sciences Corporation, F. Hoffmann-La Roche Ltd, Fulgent Genetics., Genecast Biotechnology Co., Ltd, Guardant Health, Inc., Illumina, Inc., Konica Minolta, Inc., Laboratory Corporation of America Holdings., Myriad Genetics, Inc., Tempus, and Thermo Fisher Scientific Inc. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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