What Has Driven the Growth of the Hereditary Cancer Testing Market in Recent Years?
The hereditary cancer testing market has seen considerable growth due to a variety of factors.
• The market for hereditary cancer testing has seen a substantial expansion in recent years. The expected growth of the market is just as impressive, projected to increase from $4.32 billion in 2024 to $4.78 billion in 2025 at a compound annual growth rate (CAGR) of 10.8%. Factors contributing to the growth during the historic period include a rise in the occurrence of hereditary cancers, the implementation of genetic counseling programs, the launch of government-backed cancer prevention initiatives, enhanced insurance coverage, an increasing understanding of gene-environment interactions, as well as patient advocacy and support groups.
How Will the Hereditary Cancer Testing Market?
The Hereditary Cancer Testing market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the hereditary cancer testing market is projected to experience a robust growth. The expected growth would take the market size to $7.37 billion in 2029 with a compound annual growth rate (CAGR) of 11.4%.
This growth during the forecast period is linked to the development of targeted therapies, advancements in the field of precision medicine, the increase in direct-to-consumer testing, worldwide health campaigns, and progress in bioinformatics. The forecast period also sees trends such as the advancement in genetic sequencing technologies, the rise of telemedicine and remote genetic counseling, precision medicine and personalized treatment, cancer risk assessment models, and discussions around ethical and legal considerations.
Which Factors Are Boosting Growth In The Hereditary Cancer Testing Market?
The hereditary cancer testing market is likely to be stimulated by the growing incidence of genetic cancers. Hereditary cancer syndromes are caused when specific gene mutations are passed down from parents to their offspring. Hereditary cancer testing can identify particular gene mutations that could lead to diseases, providing thorough cancer risk evaluations for patients. For example, an article in BioMed Central on hereditary cancer in clinical practice in June 2022 indicated that nearly 10% of the cases of pancreatic cancer have a genetic context. Thus, the escalating occurrence of hereditary cancer propels the expansion of the hereditary cancer testing market.
What Key Areas Define The Segmentation Of The Global Hereditary Cancer Testing Market?
The hereditary cancer testing market covered in this report is segmented –
1) By Test Type: Multi Panel Test, Single-Site Genetic Test
2) By Indication: Breast Cancer, Ovarian Cancer, Colorectal Cancer, Other Indications
3) By End user: Hospital, Clinics, Diagnostic Centers
Subsegments:
1) By Multi Panel Test: Comprehensive Genetic Panels, Targeted Gene Panels
2) By Single-Site Genetic Test: Specific Gene Testing, Familial Mutation Testing
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How Are Emerging Trends Reshaping The Dynamics Of The Hereditary Cancer Testing Market?
Technological breakthroughs are emerging as a significant trend in the hereditary cancer testing industry. To maintain their standing in the market, dominant players are emphasizing on technological advancements. As an example, Myriad Genetics, an American company specializing in genetic testing and precision medicine, introduced a genetic test featuring a Polygenic Breast Cancer Risk Assessment Score for all ancestries in March 2022. This MyRisk Hereditary Cancer test, inclusive of RiskScore, delivers a personalized breast cancer risk evaluation to all female individuals, irrespective of their ancestry, who haven't previously been diagnosed with breast cancer.
Who Are the Key Players In The Hereditary Cancer Testing Market?
Major companies operating in the hereditary cancer testing market include:
• Centogene NV
• Ambry Genetics Inc.
• Myriad Genetics Inc.
• NeoGenomics Laboratories Inc.
• Quest Diagnostics
• PreventionGenetics
• Fulgent Genetics Inc.
• Invitae Corporation
• Medical Diagnostic Laboratories LLC
• Natera Inc.
• Color Health Inc.
• CooperSurgical Inc.
• OPKO Health Inc.
• Illumina Inc.
• Laboratory Corporation of America Holdings
• Pathway Genomics Corporation
• Strand Life Sciences Private Limited
• Progenity Inc.
• Myogenes Ltd.
• Associated Regional and University Pathologists Inc.
• 4baseCare
• Biocartis Group NV
• F. Hoffmann-La Roche AG
• Medgenome Pvt. Ltd.
• Abbott Laboratories
• Agilent Technologies Inc.
• Bio-Rad Laboratories Inc.
• Thermo Fisher Scientific Inc.
• Oxford Nanopore Technologies PLC
• PerkinElmer Inc.
What Is The Most Dominant Region In The Hereditary Cancer Testing Market?
North America was the largest region in the hereditary cancer testing market in 2024. The regions covered in the hereditary cancer testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
