Yahoo Finance Global Multi Cancer Early Detection Market Size/Share Worth 3186.8 Million by 2030 at a 16.5% CAGR: Custom Market Insights (Share, Report, Trends, Forecast, Trends, Segmentation)
[220+ Pages Latest Report] According to a market research study published by Custom Market Insights, the demand analysis of the The Global Multi Cancer Early Detection Market Size was valued at USD 800.23 million in 2021 and is expected to reach USD 934.11 million in 2022, and is estimated to reach USD 3186.8 Million by the end of 2030 at a CAGR of approximately 16.5% during the forecast period 2022-2030. The key market players listed in the report with their sales, revenues and strategies are Grail LLC (Illumina Inc.), Exact Sciences Corporation., Foundation Medicine Inc., AnchorDx, Guardant Healt Inc., Burning Rock Biotech Limited, GENECAST, Laboratory for Advanced Medicine Inc., Singlera Genomics Inc, and others.
Sandy, USA, Oct. 05, 2022 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Multi Cancer Early Detection Market Size, Trends and Insights By Type (Liquid Biopsy, Gene Panel, LDT, Others), By End User (Hospitals, Diagnostic Laboratories, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” in its research database.
“According to the latest research study, the demand of global Multi Cancer Early Detection Market size & share was valued at approximately USD 800.23 million in 2021 and is expected to reach USD 934.11 million in 2022, and is estimated to reach USD 3186.8 Million by the end of 2030 at a CAGR of approximately 16.5% during the forecast period 2022-2030”
Multi-cancer early detection is a diagnostic test intended to detect the various types of cancer in the human body. Multi-cancer early detection test is carried out by taking various samples such as blood, liquid biopsy, gene, LTD, and others. This diagnostic test helps physicians examine the risk of developing the multiplication of cancer cells inside a blood vessel, epidermis, colon, lungs, throat, and other body parts. In response, MCED is intended to find tumours in the body.
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Market dynamics
Drivers
The Growing use of multi-cancer early detection in hospitals and laboratory sectors will aid the market growth.
The multi-cancer early detection market has witnessed a high potential growth due to increased awareness, and government focus on the early detection test has driven the market growth. For instance, WHO supports the Member States in developing and implementing cancer early diagnosis and screening programs, according to assessed feasibility and cost-effectiveness of screening, and with adequate capacity to avoid delays in diagnosis and cancer treatment.
The overall demand for the multi-cancer early detection testing market will be expected to grow exponentially.
(A free sample of the Multi Cancer Early Detection report is available upon request; please contact us for more information.)
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(Please note that the sample of the Multi Cancer Early Detection report has been modified to include the COVID-19 impact study prior to delivery.)
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Restraints
However, some primary screening of multi-cancer early detection tests may cause potential adverse health effects such as tears in the lining of the epidermis and colon. Furthermore, the expensive testing of the multi-cancer early detection market is restraining the market’s overall growth. In addition, high production costs and the requirement of advance machinery will slow down the market.
Opportunities
The rise in smoking, drinking, obesity, elevated cholesterol levels, and exposure to harmful radiation are the key factors contributing to the death of people every year. For instance, according to an article by WHO in February 2022, cancer deaths accounted for nearly 10 million deaths in 2020 or nearly one in six. These factors are making people more conscious about multi-cancer early detection tests, which has enhanced the market’s potential sales of the market; thus offering the most lucrative opportunities.
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Challenges
Over the forecast period, the false negative result while screening may occur, maintenance of the machinery by no trained clinical staff, inadequate or even absent calibrations and quality controls, lack of cost-effectiveness because of an increased number of different types of cancer, and more expensive tests and many others will act as a challenging factor for the growth of multi cancer early detection market.
Report Highlights
Depending upon the type, the multi-cancer early detection market is segmented into liquid biopsy, gene panel, LDT, and others.
The gene panel, LDT, and other segments dominated the market in 2021 and are expected to grow with 80% of the total market share over the forecast period. The gene panel segment mainly deals with hereditary cancers where various organizations in developed and developing countries have initiated the multi-cancer early detection test. For instance, an article published by National Cancer Institute (NIH) recommended cancer genetic testing projects, and a clinical trial has been acknowledged. These factors are boosting the overall market growth in the outlook period.
According to an article published by National Cancer Institute, several Companies with MCED tests currently under study claim that they can detect anywhere from two or three cancer types up to as many as 50. These factors capture the market growth during the forecast period.
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The global multi-cancer early detection market is studied across hospitals, diagnostic laboratories, and others. It is expected that the global hospital end-user segment to hold a dominant position during 2022 -2031 and accounts for 48% of the total market share.
Hospitals’ end-user segment dominates the multi-cancer early detection market and is expected to remain dominant during the forecast period. This is attributed to the fact that specialized physicians and well-trained staff in the treatment procedure are expected to enhance the overall demand for multi-cancer early detection tests.
The testing is a high-performance, effective device with easy operation, accuracy, and quick detection. Owing to these factors, multi-cancer early detection has been used extensively in multispecialty and tertiary care hospitals. The multi-cancer early detection devices have captured the overall market share and escalated the market demand during the forecast period.
Key questions answered in this report:
What is the size of the Multi Cancer Early Detection market and what is its expected growth rate?
What are the primary driving factors that push the Multi Cancer Early Detection market forward?
What are the Multi Cancer Early Detection Industry's top companies?
What are the different categories that the Multi Cancer Early Detection Market caters to?
What will be the fastest-growing segment or region?
In the value chain, what role do essential players play?
What is the procedure for getting a free copy of the Multi Cancer Early Detection market sample report and company profiles?
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Key Offerings:
Market Share, Size & Forecast by Revenue | 2022−2030
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by Regions
Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Snapshots
Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Europe is the dominant region in the multi-cancer early detection market and accounts for 30% of the total market share. Multi-cancer early detection has increased in sectors such as hospitals, laboratories, diagnostic centers, and other key market trends in Europe.
Report Scope
Feature of the Report | Details |
Market Size in 2021 | USD 800.23 million |
Projected Market Size in 2030 | USD 3186.8 Million |
CAGR Growth Rate | 16.5% CAGR |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Prominent Players | Grail LLC (Illumina Inc.), Exact Sciences Corporation., Foundation Medicine Inc., AnchorDx, Guardant Healt Inc., Burning Rock Biotech Limited, GENECAST, Laboratory for Advanced Medicine Inc., Singlera Genomics Inc., and Others |
Key Segment | By Type, End User, and Region |
Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
Buying Options | Request tailored purchasing options to fulfill your requirements for research. |
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Key Players
Grail, LLC (Illumina, Inc.)
Exact Sciences Corporation.
Foundation Medicine, Inc.
AnchorDx
Guardant Health, Inc.
Burning Rock Biotech Limited
GENECAST
Laboratory for Advanced Medicine, Inc.
Singlera Genomics Inc.
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Segments covered in the report
By Type
Liquid Biopsy
Gene Panel
LDT
Others
By End User
Hospitals
Diagnostic Laboratories
Others
On the basis of Geography
North America
The U.S.
Canada
Mexico
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia Pacific
The Middle East & Africa
Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
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This Multi Cancer Early Detection Market Research/Analysis Report Contains Answers to the following Questions.
Which Manufacturing Technology is used for Multi Cancer Early Detection? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
Who Are the Global Key Players in This Multi Cancer Early Detection Market? What are Their Company Profile, Their Product Information, and Contact Information?
What Was the Global Market Status of the Multi Cancer Early Detection Market? What Was Capacity, Production Value, Cost and PROFIT of the Multi Cancer Early Detection Market?
What Is the Current Market Status of the Multi Cancer Early Detection Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Multi Cancer Early Detection Market by Taking Applications and Types in Consideration?
What Are Projections of the Global Multi Cancer Early Detection Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
What Is Multi Cancer Early Detection Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
What Is Economic Impact On Multi Cancer Early Detection Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
What Are Market Dynamics of Multi Cancer Early Detection Market? What Are Challenges and Opportunities?
What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Multi Cancer Early Detection Industry?
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Reasons to Purchase Multi Cancer Early Detection Market Report
Multi Cancer Early Detection Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
Multi Cancer Early Detection Market report outlines market value (USD) data for each segment and sub-segment.
This report indicates the region and segment expected to witness the fastest growth and dominate the market.
Multi Cancer Early Detection Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
Multi Cancer Early Detection Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.
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Reasons for the Research Report
The study provides a thorough overview of the global Multi Cancer Early Detection market. Compare your performance to that of the market as a whole.
Aim to maintain competitiveness while innovations from established key players fuel market growth.
What does the report include?
Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Multi Cancer Early Detection market analysis.
The competitive environment of current and potential participants in the Multi Cancer Early Detection market is covered in the report, as well as those companies' strategic product development ambitions.
According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
For each segment mentioned above, actual market sizes and forecasts have been given.
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Who should buy this report?
Participants and stakeholders worldwide Multi Cancer Early Detection market should find this report useful. The research will be useful to all market participants in the Multi Cancer Early Detection industry.
Managers in the Multi Cancer Early Detection sector are interested in publishing up-to-date and projected data about the worldwide Multi Cancer Early Detection market.
Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Multi Cancer Early Detection products' market trends.
Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.
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