Multicancer Screening Market by Product, Test Type, Technology, Cancer Type, End User

List of Tables

[181 Pages Report] The Multicancer Screening Market size was estimated at USD 1.40 billion in 2023 and expected to reach USD 1.53 billion in 2024, at a CAGR 9.90% to reach USD 2.72 billion by 2030.

The multicancer screening is revolutionary in medical research associated with oncology, leveraging cutting-edge technologies such as liquid biopsies, genetic testing, and artificial intelligence (AI) to facilitate the early detection of various cancers, including lung, breast, colorectal, and prostate. The significance of this screening method is underscored by its potential to enhance patient outcomes through the early identification of cancer, enabling timely and more efficacious treatment options. Multicancer screening technologies promise revolutionary improvements in patient diagnostics and screening, providing healthcare systems, research entities, and consumers with tools that can lead to early interventions and significantly better health results. The adoption of these technologies is fueled by advancements in genomics and imaging, a rising global cancer incidence, and intensifying awareness of early detection benefits, further supported by governmental policies and funding measures. Opportunities for innovation are abundant, particularly in refining AI applications and liquid biopsy methods to heighten screening precision while reducing invasive procedures, seeking to align with the market's objective of improving survival rates and quality of life for patients. However, the restraints include the elevated costs associated with advanced technology development, risks of diagnostic inaccuracies, and intricate regulatory landscapes, alongside ethical and privacy dilemmas linked to genetic testing. The prioritization of cost-effective, accurate, and universally accessible screening solutions emerges as vital in overcoming these limitations. Fostering strategic partnerships among technology developers, healthcare practitioners, and regulatory authorities is crucial for unlocking the full potential of multicancer screening, setting the stage for substantial growth in the market, and a pronounced impact on global health outcomes.

KEY MARKET STATISTICS
Base Year [2023]	USD 1.40 billion
Estimated Year [2024]	USD 1.53 billion
Forecast Year [2030]	USD 2.72 billion
CAGR (%)	9.90%

Regional Insights

In the United States, the multicancer screening market is driven by significant healthcare R&D investments and a focus on early detection. This trend is supported by innovations in liquid biopsy and AI-driven diagnostics, with the National Cancer Institute's Cancer Moonshot initiative underscoring a commitment to reducing cancer incidence and mortality. Consumer preferences are toward tests that are insurance-covered or offer substantial predictive accuracy. Canada adopts a similar proactive stance in cancer screening, emphasizing integration within its public healthcare system to enhance accessibility and affordability, backed by the Canadian Institutes of Health Research. In Asia-Pacific, China's economic incline has fueled a surge in healthcare spending, fostering the adoption of AI and genetic testing innovations under the Healthy China 2030 plan. Japan prioritizes multi-cancer screening within its healthcare strategy, leveraging technological sophistication to support early detection efforts. India, while in the early stages of multicancer market development, shows promise through government initiatives such as the National Cancer Screening Program and private innovation aimed at accessible solutions. Furthermore, EU countries indicate a unified front toward healthcare innovation, with Horizon Europe funding multi-cancer research. The Middle East, particularly UAE and Saudi Arabia, is evolving its healthcare landscape to prioritize preventive care and partnerships for healthcare advancements. Africa is facing infrastructural challenges; however, it is witnessing efforts by international health organizations to develop scalable and cost-effective screening solutions.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Multicancer Screening Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Increasing prevalence of cancer disease and rising aging population
- Several government initiatives promoting multicancer screening in healthcare facilities

Market Restraints
- Time-consuming procedures coupled with high cost associated with multicancer screening

Market Opportunities
- Potential utilization of liquid biopsy and rising multicancer detection (MCD) research centers
- Rising R&D activities for the development of cancer diagnostics treatment procedures

Market Challenges
- Concerns associated with adequate safety and efficacy data and variability in test performance

Market Segmentation Analysis
- Product: Improvement in early cancer detection through revolutionary innovations in ai-enhanced screening and diagnostic technologies
- Test Type: In-vitro diagnostics and laboratorydeveloped tests are preferred for early cancer detection and improve patient outcomes
- Technology: Significant preference toward PCR for its efficiency in early detection and accuracy
- Cancer Type: Emphasizing innovation and accessibility through advancement in the multispeciality screening
- End-User: Harmonizing innovation and care to navigate multi cancer screening priorities across academic, diagnostic, and healthcare sectors

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Multicancer Screening Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Multicancer Screening Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Strategic Funding Fuels Freenome's Advancement in Early Cancer Detection Technology

Freenome garnered USD 254 million from a mixture of new and returning investors to propel the development of its pioneering multi-cancer early detection tests, leveraging its comprehensive multiomics platform. The company's cutting-edge approach combines computational biology and machine learning to craft non-invasive screening tools that promise to shift the landscape of cancer diagnosis by detecting the disease at its most treatable stages. Furthermore, collaborations with biopharma and diagnostics companies aim to extend the platform's utility to minimal residual disease testing, embodying a significant step forward in personalized healthcare and cancer management. [Published On: 2024-02-15]

PanGIA Biotech Advances Multi-Cancer Detection with Liquid Biopsy Platform

PanGIA Biotech announced redefining cancer diagnostics with its proprietary PanGIA Liquid Biopsy Platform. Having completed a pioneering three-year clinical study on prostate cancer detection through urine samples, the company now embarks on an ambitious venture to extend its research into multi-cancer early detection. [Published On: 2024-01-09]

Introduction of Riskguard, A Hereditary Cancer Screening Test by Exact Sciences Corp

Exact Sciences Corp. unveiled its latest advancement, the Riskguard hereditary multi-cancer multigene panel test, in the United States. This innovative genetic screening tool utilizes a blood or saliva sample to provide a detailed patient report outlining gene-specific and familial risks associated with ten prevalent cancers: colorectal, breast, prostate, skin, ovarian, endometrial, pancreatic, gastric, kidney, and endocrine. The test's introduction aligns with updated clinical guidelines advocating for germline mutation testing in breast cancer, marking a pivotal advancement in precision oncology. [Published On: 2024-01-03]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Multicancer Screening Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Multicancer Screening Market, highlighting leading vendors and their innovative profiles. These include ANPAC Bio-Medical Science Co., Ltd., Burning Rock Biotech Limited, Caris Life Sciences, Coyne Medical Ltd., Delfi Diagnostics, Inc., Elypta AB, EpiCypher, Inc., Epigenomics AG, Exact Sciences Corporation, Foundation Medicine, Inc., Freenome Holdings, Inc., Fulgent Genetics, Inc., Gene Solutions, Grail, LLC by Illumina, Inc., Guangzhou AnchorDx Medical Co., Ltd., Guardant Health, Inc., Invitae Corporation, Laboratory Corporation of America Holdings, Lucence Health Inc., Micronoma, Inc., MiRXES Pte Ltd., Myriad Genetics, Inc., Natera, Inc., Naveris, Inc., NeoGenomics Laboratories, OneTest, Siemens Healthineers AG, and StageZero Life Sciences. Ltd..

Market Segmentation & Coverage

This research report categorizes the Multicancer Screening Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
- AI and Machine Learning-Based Platforms
- Blood-Based Tests
- Breath Analysis Tests
- Fecal Tests
- Gene Panels/Test Panels
- Imaging Tests
  - Computed Tomography
  - Magnetic Resonance Imaging
  - Positron Emission Tomography

Saliva & Buccal Swab Test
Tissue Test
Urine-Based Tests

Test Type
- In-vitro diagnostics
- Laboratory Developed Tests

Technology
- Fluorescence In-Situ Hybridization
- Immunohistochemistry
- Next-Generation Sequencing
- Polymerase Chain Reaction

Cancer Type
- Brain/Nervous System
- Breast & Gynecologic
- Endocrine
- Gastrointestinal
- Genitourinary
- Hematological Malignancies
- Lung
- Sarcoma
- Skin

End User
- Academic & Research Institutions
- Diagnostic & Clinical Laboratories
- Hospitals

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-5C6F41F5AFE7

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing prevalence of cancer disease and rising aging population
  - 5.1.1.2. Several government initiatives promoting multicancer screening in healthcare facilities
- 5.1.2. Restraints
  - 5.1.2.1. Time-consuming procedures coupled with high cost associated with multicancer screening
- 5.1.3. Opportunities
  - 5.1.3.1. Potential utilization of liquid biopsy and rising multicancer detection (MCD) research centers
  - 5.1.3.2. Rising R&D activities for the development of cancer diagnostics treatment procedures
- 5.1.4. Challenges
  - 5.1.4.1. Concerns associated with adequate safety and efficacy data and variability in test performance
5.2. Market Segmentation Analysis
- 5.2.1. Product: Improvement in early cancer detection through revolutionary innovations in ai-enhanced screening and diagnostic technologies
- 5.2.2. Test Type: In-vitro diagnostics and laboratorydeveloped tests are preferred for early cancer detection and improve patient outcomes
- 5.2.3. Technology: Significant preference toward PCR for its efficiency in early detection and accuracy
- 5.2.4. Cancer Type: Emphasizing innovation and accessibility through advancement in the multispeciality screening
- 5.2.5. End-User: Harmonizing innovation and care to navigate multi cancer screening priorities across academic, diagnostic, and healthcare sectors
5.3. Market Trend Analysis
- 5.3.1. Favorable regulatory approvals for multicancer screening platforms and advancements to integrate personalized strategies in cancer diagnosis across the Americas
- 5.3.2. Rapid digitalization of the healthcare ecosystem and government efforts to increase the accessibility of cancer care and diagnostics services in the APAC region
- 5.3.3. Extensive R&D activities on multicancer screening and extension of global companies in EMEA with government approvals
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework Analysis

6. Multicancer Screening Market, by Product

6.1. Introduction
6.2. AI and Machine Learning-Based Platforms
6.3. Blood-Based Tests
6.4. Breath Analysis Tests
6.5. Fecal Tests
6.6. Gene Panels/Test Panels
6.7. Imaging Tests
6.8. Saliva & Buccal Swab Test
6.9. Tissue Test
6.10. Urine-Based Tests

7. Multicancer Screening Market, by Test Type

7.1. Introduction
7.2. In-vitro diagnostics
7.3. Laboratory Developed Tests

8. Multicancer Screening Market, by Technology

8.1. Introduction
8.2. Fluorescence In-Situ Hybridization
8.3. Immunohistochemistry
8.4. Next-Generation Sequencing
8.5. Polymerase Chain Reaction

9. Multicancer Screening Market, by Cancer Type

9.1. Introduction
9.2. Brain/Nervous System
9.3. Breast & Gynecologic
9.4. Endocrine
9.5. Gastrointestinal
9.6. Genitourinary
9.7. Hematological Malignancies
9.8. Lung
9.9. Sarcoma
9.10. Skin

10. Multicancer Screening Market, by End User

10.1. Introduction
10.2. Academic & Research Institutions
10.3. Diagnostic & Clinical Laboratories
10.4. Hospitals

11. Americas Multicancer Screening Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Multicancer Screening Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Multicancer Screening Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. Strategic Funding Fuels Freenome's Advancement in Early Cancer Detection Technology
- 14.3.2. PanGIA Biotech Advances Multi-Cancer Detection with Liquid Biopsy Platform
- 14.3.3. Introduction of Riskguard, A Hereditary Cancer Screening Test by Exact Sciences Corp
- 14.3.4. Strategic Partnership Between SeekIn Inc. and Oncolnv to Enhance Global Cancer Detection Efforts
- 14.3.5. Collaboration Between AnchorDx and DiaCarta to Revolutionize Global Cancer Screening
- 14.3.6. Burning Rock Biotech Achieves Global Recognition with OverC Multi-Cancer Detection Blood Test
- 14.3.7. Elypta Attains ISO 13485:2016 Certification, Advancing GAGome-Based Multicancer Detection
- 14.3.8. Strategic Acquisition by Freenome Amplifies Cancer Screening Capabilities through Oncimmune Ltd's Advanced Diagnostics
- 14.3.9. Lucence Advances Cancer Detection with Innovative MCED Blood Test: A Strategic Unveiling in the U.S.

15. Competitive Portfolio

15.1. Key Company Profiles
15.2. Key Product Portfolio