PUBLISHER: The Business Research Company | PRODUCT CODE: 1409616
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409616
“Minimal Residual Disease Testing Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on minimal residual disease testing market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for minimal residual disease testing? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The minimal residual disease testing market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Minimal residual disease testing involves highly sensitive tests aimed at detecting cancer cells that may persist in a patient's body after treatment. This type of testing is crucial for monitoring the effectiveness of cancer treatment and guiding future treatment strategies.
The main types of tests for minimal residual disease testing include DNA-based tests, RNA-based tests, and immunological tests. DNA-based testing, also known as genetic testing, is a medical examination designed to identify changes in chromosomes, genes, or proteins. Various technologies, such as flow cytometry, polymerase chain reaction (PCR), next-generation sequencing (NGS), and others, are employed in applications such as hematological malignancies, leukemia, lymphoma, solid tumors, and more. These tests are utilized by hospitals and specialty clinics, diagnostic laboratories, academic and research institutes, and other healthcare entities.
The minimal residual disease testing market research report is one of a series of new reports from The Business Research Company that provides minimal residual disease testing market statistics, including minimal residual disease testing industry global market size, regional shares, competitors with a minimal residual disease testing market share, detailed minimal residual disease testing market segments, market trends and opportunities, and any further data you may need to thrive in the minimal residual disease testing industry. This minimal residual disease testing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The minimal residual disease testing market size has grown rapidly in recent years. It will grow from $1.41 billion in 2023 to $1.61 billion in 2024 at a compound annual growth rate (CAGR) of 14.4%. The historical period's growth can be attributed to several factors, including advancements in cancer research, the demand for monitoring treatment efficacy, the availability of clinical evidence supporting minimal residual disease testing, regulatory support, and efforts to improve patient outcomes.
The minimal residual disease testing market size is expected to see rapid growth in the next few years. It will grow to $2.62 billion in 2028 at a compound annual growth rate (CAGR) of 12.9%. The anticipated growth in the forecast period can be attributed to factors such as the increasing incidence of cancer, therapeutic advancements, trends in precision medicine, a shift toward early detection practices, and the integration of healthcare systems. Major trends in the forecast period encompass the integration of liquid biopsy approaches, a heightened focus on the early detection of relapse, the expansion of minimal residual disease (MRD) testing in clinical trials, increasing adoption in pediatric oncology, and collaborations for research and development initiatives.
The anticipated increase in cancer cases is set to drive the growth of the minimal residual disease testing market. Cancer, characterized by uncontrolled cell growth and spread in the body, is primarily diagnosed and monitored through minimal residual disease testing-a highly sensitive method detecting residual cancer cells. This testing aids in the early-stage prevention of cancer, contributing to the expansion of the minimal residual disease testing market. For example, the American Cancer Society Inc. reported an estimated 1.9 million new cancer cases and 609,360 cancer-related deaths in the United States in 2022, emphasizing the critical role of minimal residual disease testing in managing cancer.
The growing demand for personalized medicine is expected to propel the minimal residual disease testing market. Personalized medicine tailors healthcare interventions based on individual characteristics such as genetics, lifestyle, and environment, optimizing treatments for better outcomes. Minimal residual disease testing is crucial in this context, precisely monitoring residual cancer cells post-treatment to facilitate targeted therapies. In 2022, the Food and Drug Administration's Center for Drug Evaluation and Research approved 37 new molecular entities, and approximately 34% of therapeutic NMEs, equivalent to 12, were classified as personalized medicines by the Personalized Medicine Coalition. This highlights the increasing demand for personalized medicine and its positive impact on the growth of the minimal residual disease testing market.
Product innovation emerges as a prominent trend in the minimal residual disease testing market, with major companies introducing new solutions to maintain their market positions. Twist Bioscience, a US-based synthetic biology and genomics company, launched the Twist MRD Panel in 2022, aiming to advance research and development in minimal residual disease detection in cancer screening. This customizable panel of genes is designed to detect very low levels of residual cancer cells in a patient's blood, offering flexibility and integration into next-generation sequencing workflows.
Major companies in the minimal residual disease testing market are also focusing on cancer research testing solutions to enhance detection sensitivity, improve treatment monitoring, and advance precision medicine approaches. For instance, Integrated DNA Technologies (IDT), a US-based genomic solutions provider, introduced the IDT Archer FUSIONPlex Core Solid Tumor Panel in April 2023. This enhanced cancer research testing solution simplifies fusion detection and variant calling in solid tumors, providing researchers with a scalable, user-friendly solution that saves time and resources.
In August 2021, Illumina Inc., a US-based biotechnology company, acquired GRAIL for $8 billion. This strategic move aimed to enhance patient access to a life-saving multi-cancer early-detection test utilizing next-generation sequencing testing technology and minimal residual disease testing, thereby expanding health services globally.
Major companies operating in the minimal residual disease testing market report are Natera Inc., Guardant Health Inc., Laboratory Corporation of America Holdings, QIAGEN NV, F. Hoffmann-La Roche Ltd., Bio-Techne Corporation, Bio-Rad Laboratories Inc., Sysmex Corporation, Exact Sciences Corporation, GRAIL LLC, Veracyte Inc., Cergentis B.V, Mdxhealth SA, NeoGenomics Laboratories Inc., Adaptive Biotechnologies, OPKO Health Inc., Thermo Fisher Scientific Inc., Siemens Healthineers AG, PerkinElmer Inc., Agilent Technologies Inc., ArcherDx Inc., Asuragen Inc., Becton, Dickinson and Company, Cepheid Inc., Fluidigm Corporation, Illumina Inc., Invitae Corporation, Janssen Diagnostics LLC, Luminex Corporation, Menarini Silicon Biosystems S.p.A
North America was the largest region in the minimal residual disease testing market in 2023. The regions covered in the minimal residual disease testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the minimal residual disease testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The minimal residual disease testing market includes revenues earned by entities by providing services such as peripheral blood cell testing, sequencing testing, high-throughput sequencing testing, and methylation sequencing testing. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.