The hereditary cancer testing market size is estimated to reach US$ 9,840.52 million by 2027 from US$ 3,967.74 million in 2018; it is expected to grow at a CAGR of 11.1% during 2019–2027.
A hereditary cancer is any cancer caused by an inherited gene mutation. Harmful variants in some genes are known to be associated with an increased risk of developing cancer. Genetic testing helps in estimating an individual’s chance of developing cancer in his or her lifetime. This can be done by searching for mutations in one’s genes, chromosomes, or proteins. Genetic tests are available for a few types of cancer. These include breast cancer, ovarian cancer, colon cancer, thyroid cancer, prostate cancer, pancreatic cancer, melanoma, sarcoma, kidney cancer, and stomach cancer.
The hereditary cancer testing market trends is attributed due to rising focus over the R&D of the genetic testing to analyze the correlation of the cancer with the genetic sequence, increasing prevalence of hereditary cancer, and surge in the demand for DNA testing kits. However, stringent regulations over the diagnostics of the cancer may hinder the growth of market.
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Hereditary Cancer Testing Market: Strategic Insights
Market Size Value in US$ 3,967.74 million in 2018 Market Size Value by US$ 9,840.52 million by 2027 Growth rate CAGR of 11.1% from 2019 to 2027. Forecast Period 2019-2027 Base Year 2019
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Hereditary Cancer Testing Market: Strategic Insights
Market Size Value in | US$ 3,967.74 million in 2018 |
Market Size Value by | US$ 9,840.52 million by 2027 |
Growth rate | CAGR of 11.1% from 2019 to 2027. |
Forecast Period | 2019-2027 |
Base Year | 2019 |
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Speak to AnalystLucrative Regions for Hereditary Cancer Testing Market
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
Increasing Prevalence of Hereditary Cancer
Cancer is a genetic disorder caused due to definite variations in genes that govern cell functioning, particularly affecting their growth and replication. Hereditary genetic mutations are the cause of ~5–10% of all cancers. The researchers have related mutations in particular genes with more than 50 hereditary cancer syndromes affecting individuals in developing certain cancers. According to the World Health Organization, cancer caused ~9.6 million deaths worldwide in 2018. Further, as per the prediction of the National Cancer Institute, in 2018, ~1,735,350 new cancer cases would be diagnosed in the US. The increasing prevalence of breast cancer in the world is a huge concern. As per the World Health Organization, ~2.09 million cases of breast cancer were reported globally in 2018. However, according to breastcancer.org, in 2018, over 3.1 million women in the US were reported with a history of breast cancer.
Moreover, ~5–10% of breast cancers are related to the mutated genes inherited from parents. The variations in the BRCA1 and BRCA2 genes are prevalent. Women with a BRCA1 mutation have ~72% lifetime risk of developing breast cancer, while those with the BRCA2 mutation have ~69% risk of the same. Furthermore, APAC is facing the problem of the growing prevalence of cancer. China, Japan, India, Taiwan, South Korea, Malaysia, Singapore, Thailand, Philippines, Sri Lanka, Vietnam, Indonesia, Mongolia, Laos, and Cambodia are the major 15 nations with the large incidence of cancer. According to the data of the National Institute of Cancer Prevention and Research (NICPR), in 2018, cancer caused 784,821 deaths in India. Hence, the increasing prevalence of cancer drives the steady growth of hereditary cancer, thereby driving the growth of hereditary cancer testing market.
Diagnosis Type-Based Insights
The global hereditary cancer testing market, based on diagnosis type, is bifurcated into biopsy and imaging. The biopsy segment accounted for a larger share in 2018. However, the imaging segment is expected to witness a faster growth during 2019–2027. The biopsy segment is expected to grow owing to the rising prevalence of cancer, increasing demand for minimally invasive surgeries, initiatives undertaken by government & global health organizations.
Technology-Based Insights
The global hereditary cancer testing market, based on technology, is segmented into sequencing, PCR, and microarray. The sequencing segment was the largest among the technology subsegments in 2018 and is expected to continue to witness significant growth during 2019–2027. The sequencing segment is expected to grow owing to the allocation of funds by various government bodies and usage of NGS in the sequencing and targeted sequencing for multiple purposes, such as hereditary cancer detection.
End User-Based Insights
The global hereditary cancer testing market, based on end user, is segmented into diagnostic centers, hospital, and clinics. The diagnostic centers is expected to witness the highest growth over the forecast period. However, the hospital segment accounted for the largest share in 2018 and is expected to continue with a similar trend over the forecast period. The diagnostic centers segment is expected to grow owing to the accurate diagnosis and reduced risk of trial & error treatment. Genetic testing helps estimate the chances of developing cancer in one’s lifetime by searching for mutations in genes, chromosomes, or proteins.
Product launches and approvals are commonly adopted strategies by companies to expand their global footprints and product portfolios. Moreover, the hereditary cancer testing market players focus on the partnership strategy to enlarge their clientele, which, in turn, permits them to maintain their brand name across the world. The hereditary cancer testing market share is anticipated to flourish with the development of new innovative products by market players. Some players operating in the market are Hologic Inc.; Koninklijke Philips N.V.; Quest Diagnostics Incorporated; Myriad Genetics, Inc.; Ambry Genetics; NeoGenomic Laboratories; Counsyl; Cancer Genetics Inc.; Invitae Corporation; Myogenes; Strand Life Sciences Pvt. Ltd.; Pathway Genomics Corporation; and CENTOGENE AG.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Diagnosis Type, Technology, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Frequently Asked Questions
New technologies such as mRNA is expected to emerge and shift the pharmaceutical industry and market is also expected to witness more vertical integration and joint ventures in coming years.
In terms of end user, the global hereditary cancer testing market is segmented into diagnostic centers, hospital, and clinics. Among the above 4 segments, the diagnostic centers segment held the largest market share in 2018.
The hospital segment is estimated to grow at the fastest rate during the forecast period.
Problems in accessing whole genomic data for early detection is the major factor hindering the market growth.
The List of Companies
- Hologic Inc.
- Koninklijke Philips N.V.
- Quest Diagnostics Incorporated
- Myriad Genetics, Inc.
- Cancer Genetics Inc.
- Invitae Corporation
- Myogenes
- Strand Life Sciences Pvt. Ltd.
- Pathway Genomics Corporation
- CENTOGENE AG
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- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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