Cancer Predictive Genetic Testing Market Size (2023 – 2030)

Global Cancer Predictive Genetic Testing Market is estimated to be worth USD 3.88 Billion in 2022 and is projected to reach a value of USD 8.82 Billion by 2030, growing at a CAGR of 10.81% during the outlook period 2023-2030.

The rising incidence of cancer and a better understanding of how genetics plays a role in its development has led to considerable growth and developments in the market for cancer-predictive genetic testing in recent years. Complex genetic and environmental factors have a role in the development of cancer. Genetic testing is essential for identifying those who are more likely to get a certain type of cancer, allowing for early detection, prevention, and individualized treatment plans. An individual's DNA is examined for particular gene mutations or variants linked to an increased risk of developing cancer as part of cancer-predictive genetic testing. Somatic testing and germline testing are the two main types of genetic testing techniques employed. Somatic testing explores genetic changes within tumor cells to inform targeted therapy, whereas germline testing looks at inherited gene mutations that potentially raise the risk of cancer.

Due to the rising incidence of the disease, technical breakthroughs, and a greater awareness of the genetic underpinnings of the condition, the market for cancer-predictive genetic testing has seen impressive growth. Genetic testing provides useful information about a person's propensity for developing cancer, enabling early detection, prevention, and individualized treatment plans. To fully utilize genetic testing in the battle against cancer, however, issues with data interpretation, genetic counselling, and ethical issues must be resolved. 

Global Cancer Predictive Genetic Testing Market Drivers:

Increasing Awareness and Focus on Early Cancer Detection is driving market growth.

The growing awareness of and emphasis on early cancer detection is one of the key factors behind the growth of the global market for cancer-predictive genetic testing. Cancer incidence is rising globally, and early detection is becoming more important because treatment outcomes are often better when the disease is caught early. Genetic testing is essential for identifying people who are more likely to get particular cancers, allowing for pre-emptive treatments like increased surveillance, preventive procedures, or lifestyle changes. People are actively looking for genetic testing services to determine their risk of cancer as knowledge of the value of early detection continues to rise. The advantages of genetic testing are also being promoted by healthcare organizations and providers, which is increasing usage. The market is expanding further as governments and healthcare organizations establish cancer screening programs that involve genetic testing as a crucial component.

Technological Advancements in Genetic Sequencing Technologies are supporting and driving market expansion.

Another significant factor driving the growth of the global market for cancer-predictive genetic testing is technological advancements in genetic sequencing technology. DNA sequencing methods have significantly improved over time, particularly with the emergence of next-generation sequencing (NGS) technologies. Large volumes of genomic data may be quickly and affordably analyzed with NGS, enabling thorough genetic testing and analysis. Genetic testing has undergone a revolution because of NGS, which offers improved accuracy, sensitivity, and scalability. The variety of genetic testing available has increased as a result of the easier discovery of new cancer-related genes and genetic variants linked to cancer risk. Additionally, NGS has increased the population's access to genetic testing, enabling healthcare professionals to deliver testing services that are both affordable and effective.

Global Cancer Predictive Genetic Testing Market Challenges:

The interpretation and management of the enormous amount of genetic data produced by genetic testing is a significant difficulty in the global industry for cancer-predictive genetic testing. Complex data generated by genetic testing necessitates knowledge of genetics and bioinformatics to be correctly interpreted and to yield useful conclusions. In the process of analyzing genetic data, pertinent gene mutations or variations are found, their effects on cancer risk are evaluated, and based on the findings, the right counseling and advice are given. The difficulty lies in accurately and quickly processing and interpreting this data so that medical practitioners can make wise judgments and give individuals undergoing genetic testing individualized care.

COVID-19 Impact on Global Cancer Predictive Genetic Testing Market:

The global market for cancer predictive genetic testing has benefited from the COVID-19 pandemic's faster adoption of telemedicine and remote healthcare services. Healthcare practitioners are increasingly using telehealth platforms to provide genetic counseling and testing services due to limitations on in-person visits and the requirement to preserve social distance. This change has made genetic testing more convenient and accessible by enabling people to get tested in the privacy and comfort of their own homes. The demand for cancer prediction genetic testing has increased as a result of the pandemic's emphasis on the need for early identification and prevention. The global market for cancer prediction genetic testing has faced various obstacles as a result of the COVID-19 epidemic. Genetic testing has temporarily been interrupted as a result of the pandemic's management taking up more healthcare resources and priorities. The availability and provision of genetic testing services have been hampered by the closure of genetic testing laboratories, disruptions in the supply chain, and restricted access to healthcare facilities. Additionally, the affordability and uptake of genetic testing have been impacted by economic uncertainty and budgetary restraints encountered by individuals and healthcare systems, potentially slowing market growth during the pandemic.

Global Cancer Predictive Genetic Testing Market Recent Developments:

• In June 2022, ColoClear, a non-invasive stool DNA test created by Prenetics Group Limited, can identify colorectal cancer's early warning symptoms. Based on clinical research, this at-home screening technology provides a simple substitute for colonoscopy, with a sensitivity of 96% in detecting colorectal cancer and 64% in detecting advanced adenoma. The National Medical Products Administration (NMPA) has only authorized ColoClear, a cancer screening test that combines stool DNA technology with a fecal immunochemical test (FIT). With 15.8% of all new cancer cases in Hong Kong in 2019, colorectal cancer is the second most prevalent malignancy. ColoClear has been introduced thanks to a partnership between Prenetics and New Horizon Health.
• In March 2022, a comprehensive cancer test that uses a single tissue sample to evaluate a wide range of tumor genes has been made available in Europe by leading genome sequencing company Illumina. This test has the potential to assist people with rare illnesses by identifying relevant treatment options depending on each patient's genetic profile. Illumina claims that this test scans for more mutations than current kits, satisfying the growing demand for better diagnostic tools in the pharmaceutical industry's precision oncology projects. This test's debut is in keeping with the industry's focus on developing specialized medicines for particular patient populations.

CANCER PREDICTIVE TESTING MARKET REPORT COVERAGE:

Global Cancer Predictive Genetic Testing Market Segmentation:

Global Cancer Predictive Genetic Testing Market Segmentation: By Test Type

• Germline Testing
• Somatic Testing

Germline testing and somatic testing are the two test types that can be used to segment the global market for cancer-predictive genetic testing. Somatic testing focuses on genetic changes within tumor cells to inform targeted therapy, whereas germline testing examines inherited gene mutations that potentially raise the chance of getting cancer. Because it can identify people who are more likely to have cancer, enabling preventive measures and individualized treatment options, chromosomal testing has a substantial market share. The identification of specific gene variants linked to increased cancer risk, such as the BRCA1 and BRCA2 mutations for breast and ovarian cancer, is one of the main findings from germline testing. By detecting genetic changes in tumor cells, somatic testing, on the other hand, is essential in guiding targeted therapy. It aids in determining the best course of treatment and keeping track of its effectiveness. Somatic testing is gaining ground while germline testing continues to rule the industry thanks to developments in precision medicine and targeted cancer medicines.

Global Cancer Predictive Genetic Testing Market Segmentation: By Cancer Type

• Breast Cancer
• Colorectal Cancer
• Ovarian Cancer
• Other Cancer Types

Based on the kind of cancer, the global market for cancer-predictive genetic testing may be divided into segments for breast cancer, colorectal cancer, ovarian cancer, and other cancer types. Due to the high frequency and knowledge of hereditary abnormalities like BRCA1 and BRCA2, which raise the risk of breast cancer, breast cancer accounts for a sizable portion of the market. Early detection, individualized treatment strategies, and preventive treatments including prophylactic surgeries are all made possible by genetic testing for breast cancer. Market share for colorectal cancer is also affected, and genetic testing helps to identify those who have inherited mutations like Lynch syndrome. The goal of ovarian cancer genetic testing is to find mutations like BRCA1 and BRCA2, which enables people to make educated decisions regarding preventive measures. To understand risk factors, direct treatment choices, and discover potential hereditary components, genetic testing is becoming increasingly important for other cancer forms, which include a variety of malignancies. Based on the prevalence, awareness, and developments in genetic research for each distinct cancer type, the market share differs among cancer kinds. 

Global Cancer Predictive Genetic Testing Market Segmentation: By End-User

• Hospitals and Clinics
• Diagnostic Laboratories
• Research Institutes

Hospitals and clinics, diagnostic laboratories, and research institutions make up the three end-user categories that make up the global market for cancer-predictive genetic testing. As the main suppliers of healthcare and providers of a variety of genetic testing services, including cancer-predictive genetic testing, hospitals, and clinics hold a substantial market share. These facilities have the setup, know-how, and tools required to carry out genetic testing and give patients all-encompassing care. Due to their expertise in genetic testing services and availability of precise and dependable testing solutions, diagnostic laboratories also enjoy a sizable market share. They are essential in the processing of genetic material, data analysis, and delivery of test findings to patients and healthcare professionals. To understand risk factors, direct treatment choices, and discover potential hereditary components, genetic testing is becoming increasingly important for other cancer forms, which include a variety of malignancies. Based on the prevalence, awareness, and developments in genetic research for each distinct cancer type, the market share differs among cancer kinds.

Global Cancer Predictive Genetic Testing Market Segmentation: By Region

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

North America, Europe, Asia Pacific, South America, and the Middle East & Africa are the regions into which the global market for cancer predictive genetic testing can be divided. Due to its established healthcare infrastructure, high adoption of cutting-edge genetic testing technologies, and rising awareness of cancer risk assessment, North America maintains a sizable market share. With an emphasis on projects in genetic research and personalized treatment, Europe also provides a sizeable portion of the market. The increased incidence of cancer, better healthcare infrastructure, and greater public knowledge of the advantages of genetic testing are all contributing factors to the Asia Pacific region's market's rapid expansion. Despite having lesser market shares, South America and the Middle East & Africa are expanding due to rising cancer occurrences, increased healthcare infrastructure investment, and government programs to increase access to genetic testing services. The market is now dominated by North America and Europe, but in the years to come, the Asia-Pacific region is anticipated to present considerable potential opportunities. 

Global Cancer Predictive Genetic Testing Market Key Players:

1. 23&Me Inc.
2. Abbott Laboratories
3. Myriad Genetics Inc.
4. Danaher Corporation
5. Illumina Inc.
6. DiaSorin Spa (Luminex Corporation)
7. BioRad Laboratories Inc.
8. PerkinElmer Inc.
9. Quest Diagnostics Incorporated
10. F. Hoffmann-La Roche Ltd