Multi Cancer Early Detection Market Size, Share, Growth, Forecast Report 2022-2030

According to Vision Research Reports, the global multi cancer early detection market size was estimated at around USD 791.6 million in 2021 and it is projected to hit around USD 2.9 billion by 2030, growing at a CAGR of 15.52% from 2022 to 2030

Report Highlights

• The gene panel, LDT, and others segment held the largest revenue share of 100.0% in 2021.
• The liquid biopsy segment is expected to witness the fastest growth over the forecast period.
• The hospitals segment dominated the overall market with a revenue share of over 45.22% in 2021.
• Europe dominated the market with a revenue share of over 30.07% in 2021.
• North America is estimated to witness the fastest growth over the forecast period.

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The need for providing effective ways to detect cancer at an early stage so that the right treatment can be given and the rising prevalence of cancer and multiple forms are expected to fuel the growth of the market. The requirement for early detection diagnostics, which facilitates simple disease management and subsequently lowers the death rate, drives the overall market.

Multi cancer early detection (MCED) tests are designed to find tumors in the body even when a patient is asymptomatic. To determine whether there is a high probability that a person has cancer, they simultaneously evaluate several signals. Although numerous tests are being developed to detect cancer at an early stage, the first MCED screening test was just recently made available in the U.S. as a lab-developed test. For instance, in July 2022, GRAIL’s Galleri was made available as an LDT at Mercy, St. Louis. Furthermore, MCED screening tests are being developed by Exact Sciences and Freenome, and GRAIL’s Galleri test is being marketed without payer coverage with the claim that it can detect up to fifty different forms.

Studies show that MCED tests have a higher sensitivity for detecting later-stage or advanced than for detecting earlier stages, which are more treatable and occasionally curable. Additionally, it was found that the tests were highly specific, which made it extremely unlikely that they would give a positive result for someone who did not have cancer. To meet the demand for early diagnosis, ongoing research is still being done in the field of developing MCED.

The major players in the market assert that they can identify as few as two or three different cancer types or as many as fifty. They are focusing on the growth and development of these screening tests and faster commercialization. For instance, in December 2020, Singlera Genomics raised $150 million in Series B funding for the development, marketing, and promotion of its MCED tests. GRAIL launched a pilot project with Point32Health, making Point32Health the first commercial plan for health to include MCED tests.

Scope of The Report

Type Insights

The gene panel, LDT, and others segment held the largest revenue share of 100.0% in 2021 as it provides testing for multiple cancers. Gene panels focus on the detection of hereditary cancers and the rising awareness regarding hereditary cancers is propelling the demand for genetic tests that detect cancers in the early stages to enhance the survival rates of the patients.

The liquid biopsy segment is expected to witness the fastest growth over the forecast period. The dominance of the segment is attributed to its high adoption and acceptance of cancer detection. Liquid biopsy is one of the emerging technologies in diagnostics. Even though scientists have known there is free-floating DNA in blood since the 1960s and have long fantasized about the possibility of diagnosing cancer through blood analysis, the World Economic Forum has named liquid biopsy as one of the top 10 emerging technologies in the world.

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End-use Insights

The hospitals segment dominated the overall market with a revenue share of over 45.22% in 2021. The dominance of this segment is attributed to the presence of specialized doctors and healthcare staff that are involved in diagnosis and treatment. Hospitals serve as a medium to educate and create awareness among individuals about specific diseases and disorders. MCED is an emerging technology about which the target audience has minimal awareness. Hence, in hospitals, asymptomatic patients are tested for multiple forms, making it easier for treatment.

Diagnostic laboratories are expected to witness lucrative growth over the forecast period owing to increased testing and the availability of resources for performing tests. There has been an increased dependence of hospitals on diagnostic laboratories for testing and evaluation, which further leads to the accelerated growth of the segment.

Regional Insights

Europe dominated the market with a revenue share of over 30.07% in 2021. The growth of the region is attributed to the increased funding in R&D and the increased prevalence of cancer. For instance, the EU-funded DeteCTCs project seeks to accelerate the commercialization of the CellMate innovation to raise the bar for the diagnosis and treatment of cancer patients. With just one blood draw, CellMate can simultaneously identify multiple cancer types at an early stage by utilizing AI-powered bioinformatics, DNA sequencing, and advanced universal circulating cancer cell capture and recognition technology.

North America is estimated to witness the fastest growth over the forecast period. Researchers in the U.S. have recently begun a significant trial of a single MCED test. A significant NCI-funded trial with an undetermined start date will likely begin in the U.S. within the next 18 to 24 months and will involve several MCED tests. In addition, it is anticipated that the rising incidence of cancer in the region will fuel market expansion. For instance, according to the American Cancer Society, over 600,000 people are anticipated to die from cancer in 2021, and it is predicted that 1.9 million new cases will be diagnosed in the country. This is equivalent to roughly 1,650 fatalities every day.

Key Players

• Grail, LLC (Illumina, Inc.)
• Exact Sciences Corporation.
• Foundation Medicine, Inc.
• AnchorDx
• Guardant Health, Inc.
• Burning Rock Biotech Limited
• GENECAST
• Laboratory for Advanced Medicine, Inc.
• Singlera Genomics Inc.

Market Segmentation

• By Type Outlook
  • Liquid Biopsy
  • Gene Panel, LDT & Others
• By End-use Outlook
  • Hospitals
  • Diagnostic Laboratories
  • Others
• By Regional Outlook
  • North America

• • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

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