Hereditary Cancer Testing Market is expected to reach US$ 9,840.52 million by 2027

Hereditary Cancer Testing Market: Key Insights

According to our new research study on “Hereditary Cancer Testing Market Forecast to 2027 – Global Analysis – by Diagnosis Type, Technology, End User, and Geography,” the global hereditary cancer testing market size is expected to reach US$ 9,840.52 million by 2027 from US$ 3,967.74 million in 2018; it is estimated to grow at a CAGR of 11.1% during 2019–2027.

The report highlights hereditary cancer testing market trends and factors driving its growth. The hereditary cancer testing market growth is attributed due to growing awareness regarding hereditary cancer, efficiency, and cost-effectiveness over traditional testing methods. However, due to difficulties in accessing the complete genomic data for early detection and prevention may hinder the growth of market.

North America accounted for the largest share of the hereditary cancer testing market, with the US holding the largest size, followed by Canada. The market for hereditary cancer in the US is expected to grow owing to the growing prevalence of cancer, growing investments by the government in the healthcare sector to develop precision medicines for chronic diseases. In US, as per the National Cancer Institute, ~1,735,350 new cancer cases were detected in 2018, and breast cancer, prostate cancer, and melanoma cancer are among the common types of cancer in the country. Furthermore, according to the data published by Cancer Journal for Clinicians, 1,688,780 new cancer cases were reported in the US in 2017. The cancer cases are increasing at a faster pace in the country, which leads to increased diagnosis for determining an appropriate cancer treatment. Furthermore, growing investments by the government into the healthcare sectors to develop precision medicines for chronic diseases is anticipated to drive the requirement for hereditary cancer testing. For instance, in January 2015, the US government allotted a fund of US$ 215 million in precision medicine research and development activities. Moreover, various companies in the US are engaged in developing advanced products for hereditary cancer testing, which aids the growth of the hereditary cancer testing market.

Growing Awareness About Hereditary Cancer Fueling Hereditary Cancer Testing Market Growth

Although genetic testing of various metabolic liabilities of cancer is clinically accessible, the available data suggest that a limited population is aware of these tests. Thus, despite extensive availability, cancer genetic counseling and testing services stay underutilized in oncology and primary care settings due to insufficient information among providers and lack of patient responsiveness.

The awareness regarding hereditary cancer conditions is growing due to various efforts made by the government. In the past decade, public medical, health, and scientific communities invested in spreading awareness regarding hereditary cancer conditions, with a major focus on hereditary cancer risk, family history, and genetic testing for inherited cancer liability. Direct-to-consumer (DTC) publicity of cancer genetic testing and federal regulations of genetic information have been other factors driving cancer genetic testing awareness among people. For instance, Myriad Genetics Laboratories, Inc. (Myriad) launched various DTC campaigns in major cities in US in the past decade. Moreover, multiple companies provide genomic profiling services for health assessment, including cancer risk prediction. Thus, increasing awareness regarding genetic cancer would enhance the demand for diagnostic tests, along with improving the quality and efficacy of hereditary cancer testing during the forecast period.

Hereditary Cancer Testing Market: Segmental Overview

Diagnosis Type-Based Insights

The global hereditary cancer testing market, based on diagnosis type, is bifurcated into biopsy and imaging. The biopsy segment held a larger share in 2018. However, the imaging segment is expected to witness a faster growth during 2019–2027.

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 the hereditary cancer testing market in 2018 and is expected to witness considerable growth during 2019–2027.

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 segment 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.

Hereditary Cancer Testing Market: Competitive Landscape and Key Developments

The hereditary cancer testing market share is anticipated to flourish with the development of new innovative products by market players. 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 are among the leading companies in the hereditary cancer testing market.

• In October 2018, Myriad Genetics, Inc. signed a new laboratory services agreement with Pfizer Inc. Under the terms of the agreement, Myriad aims to provide BRACAnalysis CDx testing in a Phase 2 study evaluating talazoparib, Pfizer’s investigational polymerase (PARP) inhibitor, for neo-adjuvant treatment of germline BRCA-mutated triple-negative breast cancer.
• In July 2017, Quest Diagnostics acquired the laboratory businesses Med Fusion and Clear Point. The acquisition aims to form the foundation for the company's first national center in precision diagnostics for oncology.
• In February 2021, researchers developed a new integrated genetic/epigenetic DNA-sequencing protocol known as MultiMMR that can identify the presence and cause of mismatch repair (MMR) deficiency in a single test from a small sample of DNA in colon, endometrial and other cancers.