Press Release

Multicancer Screening Market to be Led by Development of Healthcare Infrastructure Globally Through 2028

The increasing popularity of liquid biopsy, leading to easier cancer screening and higher chances of survival due to early detection of cancer, is the key driving force behind the growth in the global multicancer screening market.

According to the TechSci Research report, “Global Multicancer Screening Market – Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, the global market for multicancer screening is anticipated to register a high CAGR during the forecast period. This can be ascribed to the uptake of advanced technologies by every country in the world to improve the quality of their cancer detection methods.

Effective cancer screening programs require a well-established healthcare system that can provide access to screening tests, diagnostic facilities, and treatment options. Improved healthcare infrastructure can lead to increased awareness about the importance of cancer screening and a rise in funding for cancer research and the development of new screening technologies.

The growing number of hospitals, medical centers, and clinics that provide oncology facilities is expected to drive the growth of the global multicancer screening market during the forecast period. According to the statistics available for 2020, based on total hospitals worldwide, it has been observed that Colombia is the leading country in the world with a total of 10,899 hospitals, followed by Japan with 8,238 hospitals, the United States of America with 6,090 hospitals, Mexico with 4,909 hospitals, Korea with 4,106 hospitals, Germany with 3,006 hospitals and so on. An increase in acceptance of liquid biopsy, which leads to easier screening, is also propelling the global multicancer screening market during the forecast period.

Liquid biopsy is a non-invasive diagnostic technique that involves the analysis of biomarkers, such as circulating tumor cells (CTCs), cell-free DNA (cfDNA), and extracellular vesicles (EVs), in blood and other bodily fluids. This technique is gaining popularity as a less invasive alternative to traditional tissue biopsy for the early detection and monitoring of cancer. Liquid biopsy is particularly useful in the early detection of cancer, as it can detect cancer cells or biomarkers even before clinical symptoms appear. This allows for earlier intervention and better outcomes for patients. Samples that are functional in liquid biopsy for clinical non-invasive evaluation include blood, urine, saliva, and others. However, breast cancer, ovarian cancer, and prostate cancer are some of the most common cancers that can easily be detected through liquid biopsy.

Some of the countries, which are actively using liquid biopsy technology for the detection of multiple cancers, include the United States of America, China, Japan, South Korea, Germany, France, and the United Kingdom. The increase in the uptake of various advanced technologies for improving the quality of cancer detection is also expected to register impressive growth in the global multicancer screening market during the forecast period.

The development of innovative screening technologies and diagnostic tools has made it easier to detect and diagnose cancer at an earlier stage when it is more treatable. Another significant technological advancement that has driven this market is the development of artificial intelligence (AI) and machine learning (ML) algorithms. These technologies can analyze large amounts of data and identify patterns and trends that may not be visible to human experts. Moreover, the rise of digital health technologies and telemedicine has enabled more people to access cancer screening services remotely.

However, a robust pipeline of multicancer screening tests, lack of awareness about multicancer screening tests in some parts of the world, and new biomarkers being discovered regularly are expected to slow down the growth in the multicancer screening market in the coming years.

Browse over 25 market data Figures and spread through 91 Pages and an in-depth TOC on the "Global Multicancer Screening Market

The Global Multicancer Screening market segmentation is based on test type, technology, sample, method, cancer type, application, end user, and region.

Based on cancer type, the market is divided into breast and gynecologic, gastrointestinal, endocrine, genitourinary, skin, brain/nervous system, sarcoma, hematological malignancies, lung, head and neck, and other cancer types. The breast and gynecologic cancers segment are likely to dominate the market in the forecast period. This can be ascribed to the growing prevalence of breast cancer in almost all the countries of the world and the noticeable increase in mortality rate in every country caused due to breast cancer.

Some of the key companies operating in the global multicancer screening market include:

  • Agilent Technologies, Inc.
  • Atara Biotherapeutics, Inc.
  • Burning Rock Biotech Limited
  • Exact Sciences Corp.
  • F. Hoffmann-La Roche Ltd.
  • Fulgent Genetics, Inc.
  • Genecast Biotechnology Co., Ltd.
  • Guardant Health, Inc.
  • Illumina, Inc. (GRAIL, LLC.)
  • Konica Minolta, Inc. (Ambry Genetics.)

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“the global multicancer screening market is expected to gain significantly during the forecast period from the reduced cost of oncology treatments due to early detection of cancer. Moreover, the increasing presence of skilled oncologists in the world, who can carry out various multicancer screening tests on patients efficiently, is also popularizing multicancer screening in the world, aiding the market," said Mr. Karan Chechi, Research Director at TechSci Research, a research-based Global management consulting firm.

Multicancer Screening Market - Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028 Segmented By Test Type (Laboratory Developed Tests (LDTs), In-Vitro Diagnostics (IVDs)), By Technology (Next-Generation Sequencing (NGS), Polymerase Chain Reaction (PCR), Immunohistochemistry (IHC), Fluorescence In-Situ Hybridization (FISH), and Other Technologies), By Sample (Tissue, Blood, Saliva and Buccal Swab, and Others), By Method (DNA, RNA, and Proteins), By Cancer Type (Breast and Gynecologic, Gastrointestinal, Endocrine, Genitourinary, Skin, Brain/Nervous System, Sarcoma, Hematological Malignancies, Lung, Head and Neck, and Other Cancer Types), By Application (Clinical, Research), By End User (Hospitals, Diagnostic and Clinical Laboratories, Academic Research Institutions, and Other End Users), By Region and Competition has evaluated the future growth potential of Global Multicancer Screening Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide innovative market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global multicancer screening market.

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