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2021
Hereditary Cancer Testing Market

Hereditary Cancer Testing Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

A11138
Pages: NA
Dec 2021 | 497 Views
   
Author(s) : Onkar Sumant
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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A hereditary cancer is any cancer caused by an inherited gene mutation. An inherited gene means it is passed from parent to child within a family. Harmful variants in some genes are known to be associated with an increased risk of developing cancer. Genetic testing helps estimate an individual’s chance of developing cancer in his or her lifetime. This can be done by searching for specific changes in one’s genes, chromosomes, or proteins. These changes are called mutations. Genetic tests are available for some types of cancer. These include breast cancer, ovarian cancer, colon cancer, thyroid cancer, prostate cancer, pancreatic cancer, melanoma, sarcoma, kidney cancer, and stomach cancer. This test helps in predicting risk of a particular disease.

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast units

  Value (USD)

  Segments covered

  Disease Types, End User and Region

  Regions covered

North America (U.S. and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM) and The Middle East and Africa

  Companies covered

Major players analyzed include Invitae Corporation, Illumina, Inc., Natera, Inc., Agilent Technologies, Inc., Quest Diagnostics Incorporated, Myriad Genetics, Inc., Laboratory Corporation of America Holdings, F. Hoffmann-La Roche Ltd, Cooper Surgical, Inc., Thermo Fisher Scientific, Inc., and Twist Bioscience.


COVID-19 scenario analysis:

The diagnostic tests for the COVID-19 pandemic were unavailable and professionals were not able to detect the disease in patients. The alternative diagnostic tests were used initially but were not that efficient which posed the increase in demand to find the accurate diagnostic kit. This unavailability of specific COVID-19 diagnostic tests is causing significant opportunities for diagnostic manufacturers to introduce their COVID-19 diagnostic kits. The key leading players as well as certain start-ups from various countries used this opportunity and also hence introduced COVID-19 diagnostics kits into global market. These key players achieved advantage other diagnostics players capitalizing the opportunity from demand for COVID-19 diagnostic tests, which, in turn, helps them in maintaining their revenues in such a crisis.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

The major factor affecting the market includes the reduction in the cost of hereditary cancer testing would boost the industry. The rise in focus over the R&D of the genetic testing to analyze the correlation of the cancer with the genetic sequence to determine whether the sequence will cause cancer is anticipated to propel the market growth in the forecast period. The surge in the demand for the DNA testing kits is expected to help the industry grow. The increase in focus over women’s reproductive health would help the market grow. The stringent regulations over the diagnostics of the cancer may hinder the industrial growth.

New product advancements to flourish the market

In January 2017, Cancer Genetics, Inc., a leader in precision diagnostics for oncology, announced today that it has launched a focused genomic panel for hereditary breast and ovarian cancer syndrome (HBOC). The Company's initial offering for hereditary cancer, Focus: HERSite, will analyze the 16 most common genes associated with breast and ovarian cancers and provide comprehensive coverage of BRCA1 and BRCA2. The company estimates that the U.S. market for hereditary breast and ovarian cancer testing is approximately $2.5 billion today and growing at 7% annually.

In September 2017, Myriad Genetics, Inc., among a leader in molecular diagnostics and personalized medicine, announced today that it has launched riskScore, a new clinically validated precision medicine tool to enhance its myRisk Hereditary Cancer test. RiskScore quantifies a woman's risk of developing breast cancer by combining genetic markers throughout the genome with her family and clinical history.

Surge in mergers and acquisitions to boost the market

In June 2020, Invitae and ArcherDX announced Monday morning that the two genetic testing companies have agreed to merge in order to expand their footprint in the cancer genetics and precision oncology space. Invitae said that it would acquire privately held ArcherDx through a combination of 30 million shares of its common stock and $325 million in cash, plus an additional 27 million shares of common stock if certain milestones are achieved. The overall transaction is valued at approximately $1.4 billion.

In May 2018, Myriad Genetics, Inc., which is among the leader in molecular diagnostics and personalized medicine, today announced that it has signed a definitive agreement to acquire Counsyl, a pioneer in expanded carrier screening and non-invasive prenatal screening for $375 million through a combination of cash and Myriad common stock.  Counsyl has experienced rapid growth since being founded in 2007, and has generated more than $134 million in revenue and performed over 280,000 reproductive genetic tests.

Key segments covered:

Segments

Sub-segments

  Disease Types

  • Lung Cancer
  • Cervical Cancer
  • Ovarian Cancer
  • Prostate Cancer
  • Breast Cancer
  • Uterine Cancer
  • Others

  End User

  • Hospitals
  • Clinics
  • Others

 

Key benefits of the report:

  • This study presents the analytical depiction of the global hereditary cancer testing industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the Hereditary Cancer Testing Market research report:

  • Who are the leading market players active in the Hereditary Cancer Testing market?
  • What are the current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in tasking further strategic steps?
 
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