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Multicancer Screening Global Market Report 2023: Sector to Reach $7.78 Billion by 2032 at a 15% CAGR | ||
By: PR Newswire Association LLC. - 29 May 2023 | Back to overview list |
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DUBLIN, May 29, 2023 /PRNewswire/ -- The "Multicancer Screening Market - A Global and Regional Analysis: Focus on Test Type, Technology, Sample, Method, Cancer Type, Application, End User, and Region Analysis - Analysis and Forecast, 2023-2032" report has been added to ResearchAndMarkets.com's offering. The global multicancer screening market is projected to reach $7.78 billion by 2032 from $1.90 billion in 2022, growing at a CAGR of 15.09% during the forecast period 2023-2032. The growth in the global multicancer screening market is expected to be driven by the increased use of liquid biopsy testing and increasing prevalence of cancers. Market Lifecycle Stage Multicancer screening is a cancer screening test that has the potential to screen for more than one cancer type with a single test. This test can be tissue-based or liquid biopsy-based. Most of the newly developed multicancer screening tests in the market right now are liquid biopsy-based, which detects cancer biomarkers in bodily fluids such as blood, saliva, urine, etc. Biomarkers/genetic markers from RNA, DNA, or protein are analyzed from these samples. If any of these biomarkers or gene mutations are positive in the analysis, further follow-up tests need to be performed to confirm the findings. Some multicancer screening tests can also identify the tissue of the origin of cancer, while others need imaging tests to verify the origin. There are a lot of laboratory-based multicancer screening tests available in the market right now, and a few have also received U.S. Food and Drug Administration (FDA) and conformite europeenne (CE) approvals as well. Multicancer screening tests are also important because, according to the America Cancer Society, Inc., 70% of all cancer deaths are from cancers that still do not have any proven individual screening tests. This can be extremely decreased with the advent of new biomarkers through increasing funding investments in multicancer screening tests. Impact
Market Segmentation
The global multicancer screening market (by test type) is expected to be dominated by the laboratory developed tests (LDTs) segment during the forecast period 2023-2032. The in-vitro diagnostics (IVDs) segment is expected to grow with a high CAGR and have a market share of 35.72% till 2032. Segmentation 2: by Technology
The global multicancer screening market (by technology) is expected to be dominated by the next-generation sequencing (NGS) segment during the forecast period 2023-2032. This is because it is the most efficient and accurate technology currently available when it comes to gene analysis. Segmentation 3: by Sample
The global multicancer screening market (by sample) is expected to be dominated by the tissue segment during the forecast period 2023-2032. This is due to the high validation and trust on these tests as compared to the newer liquid biopsy-based tests. Segmentation 4: by Method
The DNA segment is expected to dominate the global multicancer screening market (by method) during the forecast period 2023-2032. This growth in this segment is attributed to the fact that DNA analysis is the most convenient, even with the fast-growing liquid biopsy methods. Segmentation 5: by Cancer Type
The global multicancer screening market (by cancer type) is expected to be dominated by the breast and gynecological segment during the forecast period 2023-2032. This is because the high prevalence of these cancer types and high number of known biomarkers makes them easy to screen for. Segmentation 6: by Application
As of 2021, the global multicancer screening market (by application) was dominated by the research segment, holding a 85.06% market share. Segmentation 7: by End User
As of 2021, the global multicancer screening market (by end user) was dominated by the academic and research institutions segment, holding a 62.17% market share. Segmentation 8: by Region
North America is expected to dominate the global multicancer screening market with a revenue of $0.87 billion in 2021. However, the Asia-Pacific (APAC) region, constituting several emerging economies, is expected to register the highest CAGR of 17.60% during the forecast period 2023-2032. Recent Developments in Global Multicancer Screening Market
Demand - Drivers and Limitations
The market is expected to face some limitations too due to the following challenges:
Key Market Players and Competition Synopsis The companies that are profiled have been selected based on inputs gathered from primary experts, analyzing company coverage, product portfolio, and market penetration. The top segment players leading the market include in-vitro diagnostics (IVDs) and laboratory developed tests (LDTs). IVD kit providers constitute around 30.54% of the presence in the market, and LDT kit providers constitute 69.46% of the multicancer screening market. Key Companies Profiled
Key Topics Covered: 1 Markets 2 Market Overview 3 Industry Insights 4 Market Dynamics 5 Competitive Landscape 6 Global Multicancer Screening Market (by Test Type), 2021-2032 7 Global Multicancer Screening Market (by Technology), 2021-2032 8 Global Multicancer Screening Market (by Sample), 2021-2032 9 Global Multicancer Screening Market (by Method), 2021-2032 10 Global Multicancer Screening Market (by Cancer Type), 2021-2032 11 Global Multicancer Screening Market (by Application), 2021-2032 12 Global Multicancer Screening Market (by End User), 2021-2032 13 Global Multicancer Screening Regional Market, 2021-2032 14 Company Profiles For more information about this report visit https://www.researchandmarkets.com/r/h5p3a8 About ResearchAndMarkets.com Media Contact: Research and Markets For E.S.T Office Hours Call +1-917-300-0470 U.S. Fax: 646-607-1907 Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg View original content:https://www.prnewswire.com/news-releases/multicancer-screening-global-market-report-2023-sector-to-reach-7-78-billion-by-2032-at-a-15-cagr-301836543.html SOURCE Research and Markets |
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