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Press Release

Jun, 30 2023

Early Detection Saves Lives: The Growth of the Hereditary Cancer Testing Market

Hereditary breast cancer is on the rise. According to the World Health Organization (WHO), breast cancer was the most common cancer in women in 2020, with an estimated 2.26 million cases diagnosed worldwide. This is a significant increase from the 1.8 million cases diagnosed in 2000. There are a number of factors that contribute to the rising incidence of hereditary breast cancer. The rising incidence of hereditary breast cancer is boosting the demand for hereditary cancer testing. Hereditary cancer testing can identify people at an increased risk of developing cancer. This information can help people make informed decisions about their health, such as whether to undergo early screening or preventive treatment. The global hereditary cancer testing market is expected to grow significantly in the coming years.

Access Full Report @  https://www.databridgemarketresearch.com/reports/global-hereditary-cancer-testing-market

Data Bridge Market Research analyses that the Hereditary Cancer Testing Market will grow at a CAGR of 12.90% in the forecast period of 2022 to 2029 and is expected to reach USD 13,085.04 million by 2029 from USD 4,957.05 million in 2021. There is a growing awareness of hereditary cancer among both healthcare professionals and the general public. This is due in part to increased media coverage of hereditary cancer, as well as to educational initiatives from patient advocacy groups and other organizations. As awareness of hereditary cancer grows, so too does the demand for hereditary cancer testing. These are just a few of the market drivers for hereditary cancer testing. As the incidence of cancer continues to rise, and as improvements in genetic testing technology continue to be made, the demand for hereditary cancer testing is likely to grow. This has the potential to revolutionize cancer care by enabling early detection and prevention of hereditary cancers, which could save millions of lives.

Hereditary Cancer Testing Market

Growing number of cancer cases is expected to drive the market's growth rate

The global incidence of cancer is rising, and this is driving the demand for early detection and prevention strategies. Hereditary cancer testing can help identify individuals at increased risk of developing cancer, so that they can take steps to reduce their risk or be monitored more closely for early signs of the disease. Recent advances in genetic testing technology have made it possible to identify a wider range of hereditary cancer risk genes and to do so more accurately and cost-effectively. This has made hereditary cancer testing more accessible and affordable and has increased its potential to impact public health.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014- 2019)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Test Type (Multi Panel Set, and Single Site Genetic Test), Diagnosis Type (Biopsy, Imaging, Lab Tests), Technology (Sequencing, Polymerase Chain Reaction (PCR), Microarray), Disease Type (Hereditary Breast & Ovarian Cancer Syndrome, Cowden Syndrome, Lynch Syndrome, Hereditary Leukemia And Hematologic Malignancies Syndromes, Familial Adenomatous Polyposis (FAP), Li-Fraumeni Syndrome, Von Hippel-Lindau Disease, Multiple Endocrine Neoplasias (MEN) Syndromes), End User (Hospitals, Clinics, Laboratories, Radiology Centers, Diagnostic Centers, Others), Distribution Channel (Direct Tender, Retail Sales)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

Invitae Corporation (U.S.), PerkinElmer Inc (U.S.), Quest Diagnostics Incorporated (U.S.), Ravgen (U.S.), GeneDx, LLC (U.S.), Illumina, Inc. (U.S.), Natera, Inc. (U.S.), Centogene N.V. (Germany)., 4baseCare (India), Biocartis (Belgium), Fulgent Genetics (U.S.), BioReference Health, LLC (U.S.), LifeLabs (U.S.), Abbott (U.S.), BIO-HELIX (Taiwan), Eurofins Scientific (Luxembourg)

Data Points Covered in the Report

In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework

Segment Analysis:

The global hereditary cancer testing market is segmented into six notable segments based on test type, diagnosis type, technology, disease type, end user, and distribution channel.

  • On the basis of test type, the global hereditary cancer testing market is segmented into multi panel test and single-site genetic test.

The multi panel test segment of test type is anticipated to dominate the global hereditary cancer testing market

Multi panel test segment is expected to reach USD 9829.9 million by 2030, growing with a CAGR of 13.7% due to the increasing use of genetic tests for the prevalence of cancer.

  • On the basis of diagnosis type, the global hereditary cancer testing market is segmented into biopsy, imaging, and lab tests.

The biopsy segment of diagnosis type is anticipated to dominate the global hereditary cancer testing market

Biopsy segment is expected to dominate the global hereditary cancer testing market and is expected to grow with a CAGR of 13.2% due to the rising prevalence of hereditary cancer

  • On the basis of technology, the global hereditary cancer testing market is segmented into sequencing, polymerase chain reaction (PCR), and microarray. Polymerase chain reaction (PCR) segment is expected to grow with a CAGR of 13.2% due to an increase in technological advancement and R&D in cancer-related tests and equipment.
  • On the basis of disease type, the global hereditary cancer testing market is segmented into hereditary breast & ovarian cancer syndrome, cowden syndrome, lynch syndrome, hereditary leukemia and hematologic malignancies syndromes, familial adenomatous polyposis (FAP), li-fraumeni syndrome, vol-hippel lindau disease, multiple endocrine neoplasias (MEN) syndrome. Hereditary breast & ovarian cancer syndrome segment is expected to grow with a CAGR of 13.3% due to the rise in various cancer diseases due to unhygienic, highly processed foods, sugary beverages, and obesity.
  • On the basis of end user, the global hereditary cancer testing market is segmented into hospitals, clinics, laboratories, radiology centers, diagnostic centers, and others. Hospitals segment is expected to grow with a CAGR of 13.5% due to the rise in hospital services for the treatment of cancer-like diseases.
  • On the basis of distribution channel, the global hereditary cancer testing market is segmented into direct tender, retail sales. Direct tender segment is expected to grow with a CAGR of 13.0% due to the rise in hospital services for the treatment of cancer-like diseases.

Major Players

Data Bridge Market Research recognizes the following companies as the major market players: Invitae Corporation (U.S.), PerkinElmer Inc (U.S.), Quest Diagnostics Incorporated (U.S.), Ravgen (U.S.), GeneDx, LLC (U.S.), Illumina, Inc. (U.S.), Natera, Inc. (U.S.), Centogene N.V. (Germany)., 4baseCare (India), Biocartis (Belgium), Fulgent Genetics (U.S.), BioReference Health, LLC (U.S.), LifeLabs (U.S.), Abbott (U.S.), BIO-HELIX (Taiwan), Eurofins Scientific (Luxembourg).

Hereditary Cancer Testing Market

Market Development

  • In 2022, BillionToOne, a genetic testing company, launched Unity, a noninvasive prenatal test (NIPT) for fetal and newborn hemolytic disease. Hemolytic disease is a condition in which the mother's immune system destroys the fetus's red blood cells. Unity is a blood test that can be done during pregnancy to screen for hemolytic disease. The test is noninvasive, meaning it does not require a placenta or amniotic fluid needle biopsy. Unity is a valuable tool for pregnant women who are at risk for hemolytic disease. It can help identify women who need treatment to prevent fetal complications.
  • In 2020, Quest Diagnostics, a leading provider of diagnostic information services, announced the acquisition of Blueprint Genetics, a genetic testing company. The acquisition will allow Quest Diagnostics to expand its genetic testing capabilities and offer patients a wider range of tests. Blueprint Genetics specializes in genetic testing for cancer, rare diseases, and inherited conditions. The acquisition will give Quest Diagnostics access to Blueprint Genetics' expertise in genetic testing and its large database of genetic data. This will allow Quest Diagnostics to develop new genetic tests and improve the accuracy of its existing tests.
  • In 2023, MedGenome, a genomics and diagnostics company, launched a genetic test for the diagnosis of Facioscapulohumeral Muscular Dystrophy (FSHD) in India. FSHD is a rare genetic disorder that causes progressive muscle weakness. The test is a blood test that looks for changes in the patient's DNA. The test is accurate and can be used to diagnose FSHD early on. Early diagnosis is important because it allows patients to start treatment early and improve their quality of life.
  • In 2021, Illumina, a leading provider of genetic sequencing technology, and Next Generation Genomic, a Thailand-based genetic testing company, partnered to launch VeriSeq NIPT Solution in Thailand. VeriSeq NIPT Solution is a noninvasive prenatal test (NIPT) that can be used to screen for Down syndrome, Edwards syndrome, and Patau syndrome in pregnant women. The test is a blood test that looks for changes in the patient's DNA. The test is accurate and can be used to screen for these chromosomal disorders early in pregnancy. Early diagnosis is important because it allows parents to make informed decisions about their pregnancy.

Regional Analysis

Geographically, the countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

North America is the dominant region in the hereditary cancer testing market during the forecast period 2022-2029

North America market is expected to continue to dominate the global hereditary cancer testing market in the coming years. This is due to the high prevalence of hereditary cancer, well-established healthcare infrastructure, and increased awareness of hereditary cancer.

Asia-Pacific is estimated to be the fastest-growing region in the hereditary cancer testing market in the forecast period 2022-2029

Asia-Pacific is expected to grow at the fastest rate of all the regions as the region is experiencing rapid economic growth, which is leading to an increase in healthcare spending. This is creating opportunities for the growth of the hereditary cancer testing market in Asia-Pacific. China, India, and Japan are the largest markets in Asia-Pacific.

For more detailed information about the hereditary cancer testing market report, click here – https://www.databridgemarketresearch.com/reports/global-hereditary-cancer-testing-market


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