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Multi Cancer Early Detection Market Size, Trends and Insights By Type (Liquid Biopsy, Gene Panel, LDT, Others), By End User (Hospitals, Diagnostic Laboratories, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030
Overview
Global Multi Cancer Early Detection Market
Multi Cancer Early Detection Market: Overview
According to Custom Market Insights (CMI), The Global Multi Cancer Early Detection Market Size was valued at USD 800.23 million in 2021 and is expected to reach USD 934.11 million in 2022, and is estimated to reach USD 3186.8 Million by the end of 2030 at a CAGR of approximately 16.5% during the forecast period 2022-2030.
Multi-cancer early detection is a diagnostic test intended to detect the various types of cancer in the human body. Multi-cancer early detection test is carried out by taking various samples such as blood, liquid biopsy, gene, LTD, and others. This diagnostic test helps physicians examine the risk of developing the multiplication of cancer cells inside a blood vessel, epidermis, colon, lungs, throat, and other body parts. In response, MCED is intended to find tumors in the body.
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Multi Cancer Early Detection Market: Growth Drivers
The Growing use of multi-cancer early detection in hospitals and laboratory sectors will aid the market growth. The multi-cancer early detection market has witnessed a high potential growth due to increased awareness, and government focus on the early detection test has driven the market growth. For instance, WHO supports the Member States in developing and implementing cancer early diagnosis and screening programs, according to assessed feasibility and cost-effectiveness of screening, and with adequate capacity to avoid delays in diagnosis and cancer treatment. The overall demand for the multi-cancer early detection testing market will be expected to grow exponentially.
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Multi Cancer Early Detection Market: Regional Analysis
Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Europe is the dominant region in the multi-cancer early detection market and accounts for 30% of the total market share. The utilization of multi-cancer early detection has increased in sectors such as hospitals, laboratories, diagnostic centers, and other key market trends in Europe.
The rise in the population, associated with high susceptibility to chronic diseases related to cancer, and economic diagnosis of chronic diseases in rural areas are expected to boost the global market growth in Europe. In addition, Europe’s rising cases have witnessed significant market growth. For instance, according to an article by Eurostat in 2019, among the EU Member States, the highest standardized death rates for cancer were recorded in Hungary and Croatia, each with at least 300 per 100 000 inhabitants. Owing to these factors European Union has initiated and increased focus on the multi-cancer early detection programs across the region. These factors are responsible for the market growth in the upcoming years.
Multi Cancer Early Detection Market: Recent Developments
- In the first quarter of 2020, reductions in cancer diagnosis worldwide have led to concerns over the implications of reduced testing for multi-cancer morbidity and mortality.
Key Players:
- Grail, LLC (Illumina, Inc.)
- Exact Sciences Corporation.
- Foundation Medicine, Inc.
- AnchorDx
- Guardant Health, Inc.
- Burning Rock Biotech Limited
- GENECAST
- Laboratory for Advanced Medicine, Inc.
- Singlera Genomics Inc.
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The global Multi Cancer Early Detection market is segmented as follows:
By Type
- Liquid Biopsy
- Gene Panel
- LDT
- Others
By End User
- Hospitals
- Diagnostic Laboratories
- Others
On the basis of Geography
North America
- The U.S.
- Canada
- Mexico
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
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