Multi-cancer early detection is the detection and diagnosis of various types of cancer at an early stage by analyzing biomarkers and other indicators in bodily fluids or tissues. This approach aims to identify cancerous conditions across multiple organs or tissues before symptoms manifest, enabling timely intervention and improved treatment outcomes.
Sizing and Forecast
The multi cancer early detection market size has grown rapidly in recent years. It will grow from $1.22 billion in 2023 to $1.45 billion in 2024 at a compound annual growth rate (CAGR) of 19%. The growth in the historic period can be attributed to increasing prevalence of cancer, government initiatives and funding, growing awareness about early cancer detection, expansion of healthcare infrastructure, rising adoption of personalized medicine, decreasing costs of genetic testing.
The multi cancer early detection market size is expected to see rapid growth in the next few years. It will grow to $2.93 billion in 2028 at a compound annual growth rate (CAGR) of 19.2%. The growth in the forecast period can be attributed to expansion of telemedicine and digital health, growing emphasis on preventive healthcare, increasing adoption of precision oncology, advances in biomarker discovery, surge in direct-to-consumer genetic testing. Major trends in the forecast period include increasing use of AI and machine learning, growing adoption of liquid biopsy techniques, integration of multi-omics approaches, expansion of at-home testing kits, rising focus on early-stage cancer detection, development of minimally invasive diagnostics.
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Segmentation & Regional Insights
The multi cancer early detection market covered in this report is segmented –
1) By Type: Liquid Biopsy, Gene Panel, Laboratory Developed Tests (LDT), Other Types
2) By Cancer Type: Solid Tumors, Hematological Malignancies
3) By End-User: Hospitals, Diagnostic Laboratories, Other End Users
North America was the largest region in the multi cancer early detection market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the multi cancer early detection 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
A rising shift towards personalized medicine is expected to propel the growth of the multi-cancer early detection market going forward. Personalized medicine is a medical approach that tailors treatment and healthcare decisions to the individual characteristics, needs, and genetic profile of each patient. The increasing demand for personalized medicine stems from its capacity to offer enhanced treatment efficacy, propelled by advancements in genomics, the rising complexity of diseases, and supportive regulatory measures. Personalized medicine enhances the effectiveness of multi-cancer early detection by customizing screening and treatment strategies according to individual genetic and biomarker profiles. For instance, in February 2024, according to the Personalized Medicine Coalition, a US-based non-profit organization, the FDA approved 16 novel personalized therapies for patients with rare diseases in 2023, compared to six in 2022. It includes seven drugs tailored for cancer treatment and three targeting different diseases and conditions. Therefore, a rising shift towards personalized medicine is driving the multi-cancer early detection market.
Key Industry Players
Major companies operating in the multi cancer early detection market are Illumina Inc., Sysmex Inostics GmbH, Exact Sciences Corporation, Natera Inc, Guardant Health, Core Diagnostics, Genecast Biotechnology Co. Ltd, Burning Rock Biotech Limited, Freenome Holdings Inc., Guangzhou AnchorDx Medical Co. Ltd, Singlera Genomics Incorporated, Naveris Inc. , Lucence Health Inc., PredOmix Technologies, Micronoma INC., EarlyDiagnostics (EarlyDx), Elypta AB, Predictive Oncology, ANPAC Bio-Medical Science Co. Ltd, CanSense Ltd, Epigenomics AG, VolitionRX, OncoSeek , Laboratory for Advanced Medicine, Inc., AnchorDx
The multi cancer early detection market report table of contents includes:
1. Executive Summary
- Multi Cancer Early Detection Market Characteristics
- Multi Cancer Early Detection Market Trends And Strategies
- Multi Cancer Early Detection Market – Macro Economic Scenario
- Global Multi Cancer Early Detection Market Size and Growth
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32. Global Multi Cancer Early Detection Market Competitive Benchmarking
- Global Multi Cancer Early Detection Market Competitive Dashboard
- Key Mergers And Acquisitions In The Multi Cancer Early Detection Market
- Multi Cancer Early Detection Market Future Outlook and Potential Analysis
- Appendix
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