What Is The Current and Historic Market Size Analysis Of The Multi Cancer Early Detection Market?
The multi cancer early detection market has seen considerable growth due to a variety of factors.
• The multi-cancer early detection market has seen rapid growth. It will increase from $1.45 billion in 2024 to $1.74 billion in 2025, with a CAGR of 19.3%.
The growth is attributed to the increasing prevalence of cancer, government funding and initiatives, growing awareness of early cancer detection, the expansion of healthcare infrastructure, and lower genetic testing costs.
What are the Market Size and Expected Growth Rates for the Multi Cancer Early Detection Market?
The multi cancer early detection market is expected to maintain its strong growth trajectory in upcoming years.
• The multi-cancer early detection market is expected to grow to $3.49 billion by 2029, with a CAGR of 19.1%.
The growth is attributed to telemedicine expansion, preventive healthcare focus, precision oncology adoption, biomarker discoveries, and increased demand for genetic testing. Key trends include AI and machine learning, liquid biopsy adoption, multi-omics approaches, at-home testing kits, and minimally invasive diagnostics.
Which Key Drivers Are Propelling The Multi Cancer Early Detection Market's Growth?
The shift towards personalized medicine is expected to boost the growth of the multi-cancer early detection market. Personalized medicine tailors treatments based on an individual’s genetic and biomarker profiles, improving treatment efficacy. Advances in genomics and the complexity of diseases are driving this shift. The Personalized Medicine Coalition reported in February 2024 that the FDA approved 16 new personalized therapies in 2023, compared to just six in 2022.
What Are The Key Segments Within The Global Multi Cancer Early Detection Market?
The multi cancer early detection market covered in this report is segmented –
1) By Type: Liquid Biopsy, Gene Panel, Laboratory Developed Tests (LDT), Other Types
2) By Cancer Type: Solid Tumors, Hematological Malignancies
3) By End-User: Hospitals, Diagnostic Laboratories, Other End Users
Subsegments:
1) By Liquid Biopsy Types: Circulating Tumor Cells (CTC), Circulating Tumor DNA (Ctdna), Exosomes
2) By Gene Panel: DNA-Based Panels, RNA-Based Panels, Multi-Gene Panels
3) By Laboratory Developed Tests (LDT): PCR-Based Tests, Next-Generation Sequencing (NGS) Tests, Immunohistochemistry (IHC) Tests
4) By Other Types: Protein Biomarkers, Autoantibody-Based Tests
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How Are Emerging Trends Reshaping The Dynamics Of The Multi Cancer Early Detection Market?
Key businesses in the multi-cancer early detection market are progressing their technology by engineering ctDNA-based liquid biopsy tests to elevate sensitivity, accuracy, and the capacity to detect diseases earlier. In doing so, they're aiming to bolster patient outcomes. These ctDNA-based liquid biopsy exams identify circulating tumor DNA without invasive procedures, permitting tracking of tumor movements, treatment reactions, and hits of remaining minimal disease or early recurrence. For example, Lucence, a cancer diagnostic firm based in the US, launched an innovative multi-cancer detection blood test, LucenceINSIGHT, at their American headquarters in May 2023. This groundbreaking ctDNA-based liquid biopsy test holds the potential to screen up to ten common cancers via a single blood sample. Considering that around 78% of worldwide cancer deaths are caused by cancers that lack routine screening methods, this blood test offers an elevated level of convenience and access for asymptomatic individuals looking to screen multiple types of cancer.
Who Are the Key Players In The Multi Cancer Early Detection Market?
Major companies operating in the multi cancer early detection market are:
• Illumina Inc.
• Sysmex Inostics GmbH
• Exact Sciences Corporation
• Natera Inc.
• Guardant Health
• Core Diagnostics
• Genecast Biotechnology Co. Ltd.
• Burning Rock Biotech Limited
• Freenome Holdings Inc.
• Guangzhou AnchorDx Medical Co. Ltd.
• Singlera Genomics Incorporated
• Naveris Inc.
• Lucence Health Inc.
• PredOmix Technologies
• Micronoma INC.
• EarlyDiagnostics (EarlyDx)
• Elypta AB
• Predictive Oncology
• ANPAC Bio-Medical Science Co. Ltd.
• CanSense Ltd.
• Epigenomics AG
• VolitionRX
• OncoSeek
• Laboratory for Advanced MedicineInc.
• AnchorDx
What Are The Regional Insights Into The Multi Cancer Early Detection Market?
North America was the largest region in the multi cancer early detection market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the multi cancer early detection market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
