The global Multi Cancer Early Detection (MCED) market size was USD 791.6 Million in 2021 and is expected to register a revenue CAGR of 15.8% during the forecast period, according to latest analysis by Emergen Research.
The global Multi Cancer Early Detection (MCED) market size was USD 791.6 Million in 2021 and is expected to register a revenue CAGR of 15.8% during the forecast period, according to latest analysis by Emergen Research. The rising incidences of cancer are the primary growth driver for Multi Cancer Early Detection market. According to the World Health Organization, in 2018, around 18.1 million new cases of cancer were diagnosed worldwide and 9.6 million people lost their lives to the disease. The most common cancers globally are lung, breast, colorectal, prostate, and stomach cancer.
The other major drivers for Multi Cancer Early Detection market are the government initiatives to promote early cancer detection and the availability of technologically advanced MCED products. For instance, in May 2019, the Ministry of Health and Family Welfare, Government of India, launched a National Cancer Screening Program with an aim to provide free screening and treatment services for early cancer detection.
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Similarly, in September 2020, the U.S. Food and Drug Administration (FDA) granted 510(k) clearance for the first multi-cancer liquid biopsy test, Guardant360 CDx. This test can detect 12 common cancers with a single blood draw. The high cost of Multi Cancer Early Detection products and the lack of awareness about early cancer detection are some of the key factors restraining market growth.
In May 2019, the U.S. Food and Drug Administration (FDA) granted breakthrough device designation to the EarlyCDT-Lung Test, which is designed to screen for lung cancer in high-risk patients. The test uses a patient’s blood sample to measure autoantibodies that are produced in response to early-stage lung cancer. In a clinical trial of over 1,000 high-risk patients, the EarlyCDT-Lung Test was able to detect lung cancer with a sensitivity of 71% and a specificity of 96%.
Multi Cancer Early Detection is a new method for detecting cancer in the very early stages. This is done through a simple blood test that can be performed in your doctor’s office. The test looks for certain markers that are present in the blood of people who have cancer. There are many different types of cancer, and each type has its own unique set of markers. The Multi Cancer Early Detection test looks for a specific set of markers that are present in the blood of people who have cancer.
Some Key Highlights From the Report:
- Some major companies in the global market report include Grail, LLC., Illumina, Inc., Exact Sciences Corporation, Foundation Medicine, Inc., AnchorDx, Guardant Health, Burning Rock Biotech Limited, GENECAST, Labporatory for Advanced Medicine, Inc., and Singlera Genomics Inc.
- Key players in this market are focusing on strategies such as product launches, mergers & acquisitions, and partnerships to expand their global presence and strengthen their product portfolios.
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- In September 2019, Guardant Health, Inc. launched its Guardant360 CDX liquid biopsy test for patients with advanced cancer. The test is designed to provide comprehensive genomic profiling of a patient’s tumor in order to guide treatment decisions. In a clinical trial of over 500 patients with advanced solid tumors, the Guardant360 CDX test was able to identify actionable genomic alterations in 77% of cases.
- In September 2020, QIAGEN N.V. acquired Orbis Biosciences, Inc., a provider of sample-to-result solutions for molecular diagnostic testing. This acquisition will help QIAGEN to expand its portfolio of sample-to-result solutions for cancer testing.
- On the basis of product, the market is divided into consumables & instruments and software & services. The consumables & instruments segment held the largest market share in 2020 and is expected to grow at a CAGR of 16.4% during the forecast period. This segment includes products such as kits & reagents, sequencing instruments, and microarrays. The rising demand for sequencing instruments and microarrays for cancer detection is driving market growth.
- On the basis of application, the market is bifurcated into circulating tumor cells (CTCs), circulating tumor DNA (ctDNA), and others. The ctDNA segment held the largest share in 2020 and is expected to grow at a CAGR of 16.5% during the forecast period. This segment includes tests such as Foundation Medicine, Inc.'s FoundationOne Liquid CDx and Guardant Health, Inc.'s Guardant360. The rising demand for these tests is driven by the increasing prevalence of cancer.
- On the basis of end user, the market is segmented into hospitals & clinics, research laboratories, and others. The hospitals & clinics segment held the largest share in 2020 and is expected to grow at a CAGR of 16.4% during the forecast period. The growing number of cancer patients and the availability of technologically advanced products are some of the key factors driving market growth in this segment.
- North America held the largest share of the market in 2020 and is expected to grow at a CAGR of 16.3% during the forecast period. The high prevalence of cancer, the availability of advanced healthcare infrastructure, and the presence of key players in this region are some of the key factors driving market growth in North America.
- The Asia Pacific is expected to grow at the highest CAGR of 17.1% during the forecast period. The rising prevalence of cancer and the increasing government initiatives to promote early cancer detection are some of the key factors driving market growth in this region.
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Emergen Research has segmented the global Multi Cancer Early Detection (MCED) market based on type, end-use, and region:
- Type Outlook (Revenue, USD Billion; 2019-2030)
- Liquid Biopsy
- Gene Panel, LDT, and Others
- End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Hospitals
- Diagnostic Laboratories
- Others
- Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of Middle East & Africa
- North America
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