Hereditary Cancer Testing Market 2024 | Market Size, Share Analysis, Demand And Forecast To 2033 | Centogene NV, Ambry Genetics Inc., Myriad Genetics Inc., NeoGenomics Laboratories Inc., Quest Diagnostics

Overview and Scope
The hereditary cancer testing refers to testing methods for hereditary cancers that can identify specific hereditary cancer diseases and disease-related gene mutations. This testing may decrease the risk of developing particular cancer mutants, allowing for a more comprehensive cancer risk for patients. The primary purpose of this cancer testing is to detect hereditary cancer early and maximize patient health outcomes. This testing procedure assists in identifying cancers for which one has a genetic risk and allows them to receive preventive treatment.

Sizing and Forecast
The hereditary cancer testing market size has grown rapidly in recent years. It will grow from $3.97 billion in 2023 to $4.43 billion in 2024 at a compound annual growth rate (CAGR) of 11.6%. The growth in the historic period can be attributed to rising incidence of hereditary cancers, genetic counseling programs, government initiatives for cancer prevention, improved insurance coverage, understanding of gene-environment interactions, patient advocacy and support groups..

The hereditary cancer testing market size is expected to see rapid growth in the next few years. It will grow to $6.7 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be attributed to expansion of targeted therapies, advancements in precision medicine, rise in direct-to-consumer testing, global health initiatives, advancements in bioinformatics.. Major trends in the forecast period include advancements in genetic sequencing technologies, telemedicine and remote genetic counseling, precision medicine and personalized treatment, cancer risk assessment models, ethical and legal considerations..

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Segmentation & Regional Insights
The hereditary cancer testing market covered in this report is segmented –
1) By Test Type: Multi Panel Test, Single-site Genetic Test
2) By Indication: Breast Cancer, Ovarian Cancer, Colorectal Cancer, Other Indications
3) By End user: Hospital, Clinics, Diagnostic Centers

Top Major Players

Centogene NV

Ambry Genetics Inc.

Myriad Genetics Inc.

NeoGenomics Laboratories Inc.

Quest Diagnostics

North America was the largest region in the hereditary cancer testing market in 2023. The regions covered in the hereditary cancer testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The increasing prevalence of hereditary cancer is expected to drive the hereditary cancer testing market. Mutations in specific genes passed down from parents to children cause hereditary cancer syndromes. Hereditary cancer testing can detect specific, heritable, disease-related gene mutations, allowing for a comprehensive cancer risk assessment for patients. For instance, in June 2022, according to an article published on BioMed Central about hereditary cancer in clinical practise, about 10% of pancreatic cancer cases have a genetic background. Furthermore, in May 2021, a Europe-based software company called SOPHiA Genetics, a data-driven medicine software company, stated in an article that hereditary factors account for approximately 10% of cancer cases, with an estimated 20% of cancer patients having a cancer family history. Therefore, the increasing prevalence of hereditary cancer drives the growth of the hereditary cancer testing market.

Key Industry Players
Major companies operating in the hereditary cancer testing market report are Centogene NV, Ambry Genetics Inc., Myriad Genetics Inc., NeoGenomics Laboratories Inc., Quest Diagnostics, PreventionGenetics, Fulgent Genetics Inc., Invitae Corporation, Medical Diagnostic Laboratories LLC, Natera Inc., Color Health Inc., CooperSurgical Inc., OPKO Health Inc., Illumina Inc., Laboratory Corporation of America Holdings, Pathway Genomics Corporation, Strand Life Sciences Private Limited, Progenity Inc., Myogenes Ltd., Associated Regional and University Pathologists Inc., 4baseCare, Biocartis Group NV, F. Hoffmann-La Roche AG, Medgenome Pvt. Ltd., Abbott Laboratories, Agilent Technologies Inc., Bio-Rad Laboratories Inc., Thermo Fisher Scientific Inc., Oxford Nanopore Technologies plc, PerkinElmer Inc.

The hereditary cancer testing market report table of contents includes:

1. Executive Summary

2. Hereditary Cancer Testing Market Characteristics

3. Hereditary Cancer Testing Market Trends And Strategies

4. Hereditary Cancer Testing Market – Macro Economic Scenario

5. Global Hereditary Cancer Testing Market Size and Growth

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32. Global Hereditary Cancer Testing Market Competitive Benchmarking

33. Global Hereditary Cancer Testing Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Hereditary Cancer Testing Market

35. Hereditary Cancer Testing Market Future Outlook and Potential Analysis

36. Appendix