Global Multicancer Screening Market to Reach $7.78 Billion by 2032 - Exclusive DeepTech M-A-P™ Analysis by BIS Research

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Apr 28, 2023, 11:15 ET

New discoveries of specific biomarkers related to various cancer types are increasing researchers' trust in multicancer sequencing.

FREMONT, Calif., April 28, 2023 /PRNewswire/ -- BIS Research, the global leader in providing market intelligence on deep technologies, has released its latest study titled Multicancer Screening Market - A Global and Regional Analysis.

According to this study, the global multicancer screening market was valued at $1.90 billion in 2022 and is projected to reach $7.78 billion by 2032, growing at a CAGR of 15.09%.

The following factors are responsible for the increase in demand for multicancer screening:

Early detection of cancer leading to higher survival chances and better treatment
Increasing popularity of liquid biopsy leading to easier screening
Reduced treatment cost due to early cancer detection

The detailed study is a compilation of 13 market data tables and 169 figures spread across 228 pages.

Check Out the Detailed Table of Contents Here → https://bisresearch.com/requestsample?id=1485&type=toc

Analyst's Take on the Market Projection

According to Akash Mhaskar, Principal Analyst, BIS Research, "Global multicancer screening market is a rapidly emerging market and is expected to revolutionize the field of oncology field in the coming years due to the continuous increase in the demand for cancer diagnosis and industrial analysis."

Request a Free Sample of this Report Here → https://bisresearch.com/requestsample?id=1485&type=download

In-Vitro Diagnostics Expected to Show the Highest Growth During the Forecast Period

The market intelligence study from BIS Research classifies the multicancer screening market, on the basis of test type, largely into two segments, i.e., in-vitro diagnostics (IVDs) and laboratory-developed tests (LDTs).

According to the study, based on test types, the LDTs segment dominated the market in 2021, holding roughly 70% of the overall multicancer screening market in value, and is expected to hold its dominance during the forecast period 2023-2032. However, it is the IVDs segment that is expected to witness the highest growth rate, growing from 30.54% in 2021 to 35.72% in 2032.

Major Industry Leaders in the Multicancer Screening Market

The companies profiled have been selected based on input gathered from primary experts and analyzing company coverage, product portfolio, and market penetration. Some of the established names in the market are Agilent Technologies, Inc., Atara Biotherapeutics, Inc., Burning Rock DX, Danaher Corporation, Exact Sciences Corporation, F. Hoffmann-La Roche Ltd, Fulgent Genetics, Genecast Biotechnology Co., Ltd, Guardant Health, Inc., Illumina, Inc., Konica Minolta, Inc., Laboratory Corporation of America Holdings, Myriad Genetics, Inc., Tempus, Thermo Fisher Scientific Inc., and more.

Recent Developments in the Global Multicancer Screening Market

In January 2023, Laboratory Corporation of America Holdings. acquired Personal Genome Diagnostics for $450 million and for another $125 million as contingent milestone payments. Personal Genome Diagnostics is a next-generation sequencing test maker, and with this acquisition, Laboratory Corporation of America Holdings. expanded its NGS testing portfolio.
In January 2023, FOUNDATION MEDICINE, INC. (F. Hoffmann-La Roche Ltd) got FDA approval for its FoundationOne Liquid CDx as a companion diagnostic for Rozlytrek. This test is relevant for ROS1+NSCLC patients and NTRK fusion-positive solid tumors patients.
In January 2023, Burning Rock DX got an FDA Breakthrough Device Designation for its multi-cancer detection blood test called OverC. This test is intended for the detection of lung, liver, ovarian, esophageal, and pancreatic cancer for adults aged between 50 and 75 years.
In December 2022, Integrated DNA Technologies, Inc. acquired Invitae Corporation.'s next-generation sequencing (NGS) research assays with the Archer trademark for $48 million.

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About BIS Research:

BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends, which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals.

Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.

BIS Research offers syndicate as well as custom studies and expert consultations to firms, providing them with specific and actionable insights on novel technology markets, business models, and competitive landscapes.

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