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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