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Global Hereditary Cancer Testing Market was Valued at US$ 6051.37 Mn in 2020 due to Increasing Prevalence of Genetic Disorders

Published On 13 Sep 2021 01:07 PM


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Absolute Markets Insights (AMI) reports a robust growth forecast for the global hereditary cancer testing market during the forecast period (2021 – 2029). In its newly released report, AMI anticipates that the market will grow at 6.2% owing to technological advancements and increased investments towards enhancement of medical infrastructure. AMI reports that the market stood at a valuation of US$ 6051.37 Mn in 2020.

A hereditary cancer is defined as any form of cancer that is caused by an inherited gene mutation. An inherited gene is a gene that is passed from parent to child within a family. The factors that suggest a possible increased risk for hereditary cancer include family history, cancer at an early age, and multiple cancers. People who have three or more relatives on the same side of the family suffering from same or related forms of cancer are prone to a cancer that might be hereditary in nature. Some rare types of cancer such as adrenocortical cancer, ovarian cancer, and sarcoma are linked to inherited genetic mutations, and hence, can also be hereditary in nature.

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Decline in sequencing cost and consequent expansion of genetic testing registry are major factors contributing towards the growth of global hereditary cancer testing market. Not only deoxyribonucleic acid (DNA) sequencing is cost-effective, it is also more efficient than traditional methods. DNA sequencing enables the use of multiple gene-panels for the testing of many inherited mutations at a time. According to traditional method, only one gene mutation can be analyzed at a time and traditional methods lacked accuracy. Hence, higher accuracy and reduction in the cost of hereditary cancer testing is supplementing the growth of global hereditary cancer testing market.

Increasing incidence of genetic diseases is contributing towards the growth of global hereditary cancer testing market. Accumulation of harmful mutations can affect DNA of person and create cancer that could be hereditary in nature. Late-onset disease manifestation that happens due to the accumulation of disease-causing agents that are either produced from birth or due to a lack of vital substances in the body due to genetic malfunctions. When DNA sequence changes due to a genetic disorder, to determine the right treatment the tests to diagnose hereditary cancer serve useful. Genetic disorders are of two types. They can either be caused by a mutation in one gene (monogenic disorder) or by mutations in multiple genes (multifactorial inheritance disorder), by a combination of gene mutations and environmental factors. They can also be caused by damage to chromosomes that are defined as the structures that carry genes. Such damage covers changes in the number or structure of entire chromosomes. Hereditary cancer testing is also useful to determine the accurate treatment for chromosomes.

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Hereditary Cancer Testing for Colon Cancer is anticipated to Gain Momentum over the Forecast Period (2021 – 2029)

Hereditary cancer testing for colon cancer is estimated to witness highest growth rate in the global hereditary cancer testing market over the period of next eight years.  Cancer is higher in those people who have a strong family history of colorectal cancer, inherited colon cancer syndromes. Due to progress in medical science, a variety of genetic tests that have been developed for colon cancer that include not only hereditary nonpolypsis colon cancer (HNPCC) test, but also, familial adenomatous polyposis (FAP) test and many others. When these medical screenings are employed, the number of colon cancer cases found in the early stages is expected to increase. Gene therapies to alter many mutations such as mutL homolog 1 (MLH1), MutS Homolog 2 (MSH2), MSH, PMS2 (a protein coding gene) or epithelial cellular adhesion molecule (EPCAM) mutation are likely to be developed. The increasing awareness about genetic screening methods are driving the segment’s growth in the global market.

Single Gene Testing was Among the Most Popular Type of Testing in 2020

The single gene testing segment held the largest share in the global hereditary cancer testing market in 2020. The cost-effective nature of single gene testing can minimize the need for testing unnecessary genes that are not of interest. This testing can also reduce the chance of learning about health risks that are not related to the current clinical concern. In August 2021, Fulgent Genetics increased investment in oncology testing, along with operations in this stream of testing to become a 'One-Stop Shop' for it and focus is on multi-gene panel testing too. 

Hospitals and Clinics to Grow Together during the Forecast Period (2021 – 2029)

The diagnostic centers segment was the largest category in the global hereditary cancer testing market in 2020 and during the forecast period (2021 – 2029), hospitals and clinics segments are expected to witness substantial growth rate. Diagnosis services have been largely available across hospitals and are still the target markets for the makers of equipment useful for diagnosing or aiding treatment of hereditary cancer testing services. Clinics also offer medical tests for diagnosis of hereditary cancer, thus aiding in ease of procuring multiple tests through single facility. These factors are aiding the segment’s growth and are estimated to boost the global market growth over the forecast period.

Rapid Expansion of Hereditary Cancer Testing kept the market strong in North America Region in 2020

AMI reports that the global hereditary cancer testing market in the North America region was the largest regional market in 2020 due to presence of key market players, high incident rate of cancer specially breast cancer, rapid expansion of the test due to high awareness, along with availability of advanced medical infrastructure. Favorable reimbursement policies, and increasing investment in R&D in medical science are also boosting the market in this region.

Some key players in the global hereditary cancer testing market are Ambry Genetics, ASPIRA WOMEN'S HEALTH, CENTOGENE N.V., Color Health Inc., Fulgent Genetics, Illumina Inc., Invitae Corporation, LifeLabs Genetics, Myogenes Limited, Myriad Genetics Inc., NIPD Genetics, Otogenetics, and others.

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Global Hereditary Cancer Testing Market:

  • By Cancer Type
    • Breast Cancer
    • Ovarian Cancer
    • Colon cancer
    • Stomach Cancer
    • Head & Neck Cancer
    • Prostate Cancer
    • Pancreatic Cancer
    • Melanoma
    • Others
  • By Test Type
  • Single Gene Testing
  • Multi-Gene Panel Testing
  • By End Users
  • Hospitals
  • Clinics
  • Diagnostic
  • Others
  • By Region
  • North America
    • U.S.
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Finland
      • Iceland
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • New Zealand
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Kuwait
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

Get More [email protected] https://www.absolutemarketsinsights.com/reports/Hereditary-Cancer-Testing-Market-2021---2029-901

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Press Release Provided By: Absolute Markets Insights