Global Hereditary Cancer Testing Market Set for Rapid Growth, to Reach Around USD 147.62 Billion by 2024

Zion Market Research has published a new report titled “Hereditary Cancer Testing Market by Diagnosis Type (Biopsy, Imaging and Others), By End-User (Hospitals, Clinics, and Diagnostic Centers), and by Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024”. According to the report, global hereditary cancer testing market was valued at approximately USD 98.06 billion in 2017 and is expected to generate revenue of around USD 147.62 billion by end of 2024, growing at a CAGR of around 6% between 2018 and 2024.

Hereditary cancer testing is a process that identifies an inherited gene mutation that increases the risk of cancer development. Hereditary cancer testing majorly covers predictive genetic testing and clinical DNA sequencing. In predictive genetic testing, the patient’s family history is analyzed for any inherited mutation from ancestry. This test is very useful for testing many genetic mutations at a time. It is similar to other cancer testing techniques and it includes lab tests, imaging procedures, and biopsy. This test does not diagnose whether a person is suffering from cancer it only recognizes if a person is bearing a change in genes which increases the risk of cancer.

The global hereditary cancer testing market is primarily driven by the worldwide demand for non-invasive techniques for detection of hereditary cancer. Other major factors include growing government funding for development of proper diagnostics and growing concerns for hereditary cancer propels the demand for the hereditary cancer testing market. The need for avoiding cancer in the future is likely to boost the demand for hereditary cancer testing market in the coming years. As the demand for non-invasive techniques is increasing histopathological detection still acts as a golden standard for identification of hereditary cancer.

The hereditary cancer testing market is segmented on the basis of diagnosis type which is further divided into biopsy, imaging, and others. Imaging segment is the leading division and is likely to maintain its position during the forecast period. Factors such as cost-effectiveness, performance ease, and accuracy anticipate for a valuable growth of this segment. On the basis of the end-user, the hereditary cancer testing market is segmented into hospitals, clinics, and diagnostic centers.

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa are the key regional segments of the global hereditary cancer testing market. North America is projected to dominate the global hereditary cancer testing market owing to the high prevalence of cancer among the population and many dominant players in the U.S. Asia Pacific also expected to expand at a high rate due to the growing awareness among people, growth in the private healthcare sector, and improving education systems. Latin America and the Middle East and Africa are also the key regional markets and are expected to grow moderately in the coming years owing to rising healthcare infrastructure, increasing awareness among the people, and changing government policies in these regions.

Some of the key players in the hereditary cancer testing market are Myriad Genetics, Myogenes, Laboratory Corporation of America, Biocartis NV, Quest Diagnostics, Pathway Genomics, Invitae Corporation, and Strand Life Sciences Pvt. Ltd., among others.

This report segments the global hereditary cancer testing market is as follows:

Global Hereditary Cancer Testing Market: by Diagnosis Type

• Biopsy
• Imaging
• Others

Global Hereditary Cancer Testing Market: by End-User

• Hospital
• Clinics
• Diagnostic Centers

Global Hereditary Cancer Testing Market: by Region

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

– Zion Market Research