Hereditary Cancer Testing Market Report

PORTLAND, OREGON, UNITED STATES, June 13, 2024 /EINPresswire.com/ -- The global Hereditary cancer testing industry was estimated at $3.5 billion in 2021, and is anticipated to hit $10.1 billion by 2031, registering a CAGR of 11.6% from 2022 to 2031. The report offers an explicit analysis of the changing market trends, top segments, key investment pockets, value chains, competitive scenarios, and regional landscapes.

The hereditary cancer testing market refers to the market for genetic tests that identify inherited gene mutations associated with an increased risk of developing certain types of cancer. These tests are designed to detect specific gene mutations that are known to be linked to an elevated risk of developing cancer, such as breast cancer, ovarian cancer, colorectal cancer, or pancreatic cancer.

Hereditary cancer testing plays a crucial role in identifying individuals who have an increased risk of developing certain types of cancer due to inherited genetic mutations. It helps in identifying individuals who may benefit from early detection, surveillance, or targeted preventive measures to reduce their cancer risk.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/request-sample/11503

𝐃𝐞𝐭𝐞𝐫𝐦𝐢𝐧𝐚𝐧𝐭𝐬 𝐨𝐟 𝐠𝐫𝐨𝐰𝐭𝐡-
Increase in the geriatric population, surge in incidence of cancer across the world, and rise in government expenditure on healthcare drive the growth of the global hereditary cancer testing market. On the other hand, lack of skilled professionals and high cost of the tests impede the growth to some extent. However, lucrative growth potential in untapped emerging economies is expected to create lucrative opportunities in the industry.

𝐖𝐡𝐚𝐭 𝐢𝐬 𝐭𝐡𝐞 𝐢𝐦𝐩𝐚𝐜𝐭 𝐨𝐟 𝐂𝐨𝐯𝐢𝐝-𝟏𝟗 𝐨𝐧 𝐇𝐞𝐫𝐞𝐝𝐢𝐭𝐚𝐫𝐲 𝐂𝐚𝐧𝐜𝐞𝐫 𝐓𝐞𝐬𝐭𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐥𝐨𝐛𝐚𝐥𝐥𝐲?
The outbreak of the pandemic gave way to the closure of non-emergency departments in hospitals. Medical procedures with high priority were only being performed in the medical centers, which impacted the global hereditary cancer testing market negatively, especially during the initial period.

However, as the global situation started getting normal, the market for hereditary cancer testing also started getting back to shape.

𝐓𝐡𝐞 𝐜𝐨𝐥𝐨𝐫𝐞𝐜𝐭𝐚𝐥 𝐜𝐚𝐧𝐜𝐞𝐫 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐜𝐢𝐭𝐞 𝐭𝐡𝐞 𝐟𝐚𝐬𝐭𝐞𝐬𝐭 𝐂𝐀𝐆𝐑-
By cancer type, the other cancers segment contributed to nearly two-thirds of the global hereditary cancer testing market share in 2021, and is expected to lead the trail by 2031. This is attributed to increase in the prevalence of breast cancer and rise in the geriatric population as they are more prone to chronic diseases. The colorectal cancer segment, however, is expected to exhibit the fastest CAGR of 13.4% from 2022 to 2031. This is due to surge in the number of breast cancer patients and increase in the number of cancer testing products available in the market.

𝐓𝐡𝐞 𝐩𝐫𝐞𝐝𝐢𝐜𝐭𝐢𝐯𝐞 𝐭𝐞𝐬𝐭𝐢𝐧𝐠 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐝𝐨𝐦𝐢𝐧𝐚𝐭𝐞 𝐛𝐲 𝟐𝟎𝟑𝟏-
By test type, the predictive testing segment garnered more than two-thirds of the global hereditary cancer testing market share in 2021, and is expected to retain its dominance by 2031. The same segment would also portray the fastest CAGR of 11.9% during the forecast period. This is due to upsurge in demand for predictive testing performed in the hospitals and rise in the preference for predictive testing.

𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐈𝐧𝐪𝐮𝐢𝐫𝐲: https://www.alliedmarketresearch.com/purchase-enquiry/11503

𝐇𝐞𝐫𝐞𝐝𝐢𝐭𝐚𝐫𝐲 𝐂𝐚𝐧𝐜𝐞𝐫 𝐓𝐞𝐬𝐭𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐆𝐫𝐨𝐰𝐭𝐡 𝐅𝐚𝐜𝐭𝐨𝐫𝐬 𝐚𝐧𝐝 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬
𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐢𝐧𝐠 𝐀𝐰𝐚𝐫𝐞𝐧𝐞𝐬𝐬 𝐚𝐧𝐝 𝐒𝐜𝐫𝐞𝐞𝐧𝐢𝐧𝐠 𝐏𝐫𝐨𝐠𝐫𝐚𝐦𝐬: Growing awareness about the importance of early detection and genetic screening for hereditary cancers is driving demand for hereditary cancer testing. Screening programs and initiatives aimed at identifying individuals at high risk for hereditary cancers contribute to market growth.

𝐀𝐝𝐯𝐚𝐧𝐜𝐞𝐦𝐞𝐧𝐭𝐬 𝐢𝐧 𝐆𝐞𝐧𝐞𝐭𝐢𝐜 𝐓𝐞𝐬𝐭𝐢𝐧𝐠 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐞𝐬: Advances in genetic testing technologies, such as next-generation sequencing (NGS) and multiplex PCR, have led to the development of more accurate, cost-effective, and accessible hereditary cancer testing solutions. These technological advancements expand the reach of genetic testing and enhance diagnostic accuracy, driving market expansion.

𝐑𝐢𝐬𝐢𝐧𝐠 𝐈𝐧𝐜𝐢𝐝𝐞𝐧𝐜𝐞 𝐨𝐟 𝐇𝐞𝐫𝐞𝐝𝐢𝐭𝐚𝐫𝐲 𝐂𝐚𝐧𝐜𝐞𝐫𝐬: The increasing prevalence of hereditary cancers, attributed to factors such as aging populations, lifestyle changes, and environmental factors, is fueling demand for hereditary cancer testing. The growing recognition of the role of genetics in cancer risk assessment and management further drives market growth.

𝐄𝐱𝐩𝐚𝐧𝐝𝐢𝐧𝐠 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬 𝐢𝐧 𝐏𝐫𝐞𝐜𝐢𝐬𝐢𝐨𝐧 𝐌𝐞𝐝𝐢𝐜𝐢𝐧𝐞: Hereditary cancer testing plays a crucial role in precision medicine initiatives aimed at tailoring cancer prevention, diagnosis, and treatment strategies to individual genetic profiles. The integration of genetic information into personalized cancer care pathways drives the adoption of hereditary cancer testing and expands its applications in clinical practice.

𝐆𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭 𝐈𝐧𝐢𝐭𝐢𝐚𝐭𝐢𝐯𝐞𝐬 𝐚𝐧𝐝 𝐒𝐮𝐩𝐩𝐨𝐫𝐭𝐢𝐯𝐞 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐢𝐨𝐧𝐬: Government initiatives and supportive regulations promoting genetic testing, cancer screening, and precision medicine drive market growth. Funding for research, public health programs, and genetic counseling services, along with regulatory frameworks ensuring quality standards and patient confidentiality, encourage the adoption of hereditary cancer testing.

𝐆𝐫𝐨𝐰𝐢𝐧𝐠 𝐃𝐞𝐦𝐚𝐧𝐝 𝐟𝐨𝐫 𝐏𝐫𝐞𝐯𝐞𝐧𝐭𝐢𝐯𝐞 𝐇𝐞𝐚𝐥𝐭𝐡𝐜𝐚𝐫𝐞: Increasing emphasis on preventive healthcare and proactive management of cancer risk factors is boosting demand for hereditary cancer testing. Individuals with a family history of cancer, as well as those seeking to understand their genetic predisposition to cancer, drive demand for genetic testing services as part of preventive health strategies.

𝐄𝐱𝐩𝐚𝐧𝐝𝐢𝐧𝐠 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐆𝐞𝐧𝐞𝐭𝐢𝐜 𝐂𝐨𝐮𝐧𝐬𝐞𝐥𝐢𝐧𝐠 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬: The growing availability and accessibility of genetic counseling services complement the uptake of hereditary cancer testing. Genetic counselors play a vital role in interpreting test results, providing risk assessment, and guiding patients and healthcare providers in making informed decisions about cancer prevention and management.

𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐠𝐫𝐚𝐛𝐛𝐞𝐝 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐬𝐡𝐚𝐫𝐞-
Based on region, North America held the major share in 2021, generating nearly two-fifths of the global hereditary cancer testing market. This is due to rise in the geriatric populatio, and surge in number of diagnostic procedures in the province. The Asia-Pacific region, however, would cite the fastest CAGR of 13.8% throughout the forecast period. This is due to the increasing prevalence of cancer types and the rising number of product launch & product approvals across the region.

𝐇𝐞𝐫𝐞𝐝𝐢𝐭𝐚𝐫𝐲 𝐂𝐚𝐧𝐜𝐞𝐫 𝐓𝐞𝐬𝐭𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐊𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬:
Agilent Technologies, Inc.
Bio-Rad Laboratories, Inc.
Danaher Corporation
Abbott Laboratories
Eurofins Scientific SE
Illumina, Inc.
Myriad Genetics, Inc.
Qiagen N.V.
Thermo Fisher Scientific, Inc.
F. Hoffmann-La Roche AG

𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐢𝐧 𝐇𝐞𝐚𝐥𝐭𝐡𝐜𝐚𝐫𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:
Hereditary Cancer Testing Market: https://www.alliedmarketresearch.com/hereditary-cancer-testing-market-A11138
Hip Replacement Market: https://www.alliedmarketresearch.com/hip-replacement-market-A17084
Flow Cytometry Market: https://www.alliedmarketresearch.com/flow-cytometry-market

𝐀𝐛𝐨𝐮𝐭 𝐀𝐥𝐥𝐢𝐞𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 (𝐀𝐌𝐑):
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬:
David Correa

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