Population Screening Global Market Report 2024

Population screening is a systematic process aimed at evaluating the prevalence of a specific trait or disease within an entire population or a subgroup. The objective is to effectively identify individuals or groups at risk of developing a particular condition, distinguishing it from diagnostic testing.

The primary products associated with population screening include hardware equipment, testing or laboratory services, and analytics or interpretation tools. Hardware assumes a pivotal role in population screening by providing essential tools and equipment necessary for conducting screening tests, collecting data, and delivering healthcare services. Businesses engaged in population screening cater to various age groups, including males and females under 15, those between 15 and 65, and individuals aged 65 and above. These screening services are typically offered by a range of entities, including hospitals, research institutes, and diagnostic laboratories.

The population screening research report is one of a series of new reports from The Business Research Company that provides population screening market statistics, including the population screening industry's global market size, regional shares, competitors with population screening market share, detailed population screening market segments, market trends and opportunities, and any further data you may need to thrive in the population screening industry. This population screening market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The population screening market size has grown strongly in recent years. It will grow from $27.02 billion in 2023 to $29.12 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth observed in the historical period can be attributed to several factors, including disease prevention initiatives, government health policies, the escalation of healthcare costs, and heightened awareness of various diseases. These elements collectively contributed to the dynamics and trends influencing the healthcare landscape during the specified historical timeframe.

The population screening market size is expected to see strong growth in the next few years. It will grow to $37.93 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The anticipated growth in the forecast period can be attributed to several factors, including a shift towards personalized medicine, the aging population with a rise in chronic diseases, the integration of artificial intelligence (AI) and data analytics in healthcare, and an expanded focus on screening access. Key trends expected during this period encompass advancements in medical technology, the evolution of genomics and precision screening, the increasing prominence of telehealth and remote screening, the development of multi-disease screening panels, and a heightened emphasis on health equity and accessibility. These trends collectively reflect the evolving landscape of healthcare, incorporating innovative approaches to address emerging challenges and opportunities.

The escalating prevalence of cancer is poised to drive the expansion of the population screening market. Cancer represents a condition wherein particular cells within the human body undergo abnormal development and spread to other areas of the body. Population screening initiatives play a pivotal role in detecting cancer at early stages when treatments are more effective and prognosis is better. For example, as per the American Cancer Society, a voluntary health organization based in the United States, an estimated 1.96 million new cases of cancer are projected to be diagnosed in the US in 2023, reflecting an increase from the approximately 1.9 million new cases identified in 2021. Hence, the increasing prevalence of cancer stands as a catalyst for the growth of the population screening market.

The expanding proportion of aging individuals is anticipated to propel the growth of the population screening market. Aging individuals encompass those who are in the process of growing older or have reached advanced age milestones. Regular population screenings tailored to the specific health needs of aging individuals can significantly contribute to successful aging and better health outcomes. For instance, in June 2023, The United States Census Bureau, a governmental agency in the United States, reported a 0.2-year increase in the country's median age, reaching 38.9 years in 2022, indicating a continual aging trend within the population. Consequently, the growing proportion of aging individuals serves as a driving force behind the expansion of the population screening market.

Technological advancements have emerged as a pivotal and increasingly favored trend within the population screening market. Significant companies in this sector are embracing new technologies to uphold their market positions. An example of this occurred in May 2021, when Evoq Technologies LLC, a US-based enterprise specializing in innovative healthcare and biotechnology research, introduced SmartERG, the first phone-based retinal health testing platform. This device functions by emitting regulated light into the eye, capturing an electrical and physiological response from the retina. By identifying delays or reductions in visual responses, it detects potential retinal diseases that could lead to vision impairment or blindness. The platform offers cloud services with robust artificial intelligence (AI) and machine learning support, simplifying patient-provider connections and enhancing ophthalmic care.

Major companies operating in the population screening market are launching novel products specifically designed for disease screening to augment their market profitability. Disease-specific screening within population screening involves targeting individuals at risk for a particular disease within a larger population. For instance, in October 2023, DELFI Diagnostics, a US-based company specializing in advanced machine learning and fragmentomics, developed FirstLook Lung. This groundbreaking blood test utilizes whole-genome machine learning to analyze cell-free DNA fragments, serving as cancer markers. This user-friendly laboratory-developed test seamlessly integrates into routine blood screenings. Key features include a 99.7% negative predictive value, effectively ruling out the presence of lung cancer, and high sensitivity in detecting early-stage diseases. The test furnishes personalized, actionable reports to healthcare providers, presenting a potential solution to bolster the low screening rates for lung cancer in the United States.

In August 2021, Illumina Inc., a prominent US-based biotechnology company, successfully completed the acquisition of GRAIL for an undisclosed sum. This strategic move is anticipated to facilitate Illumina Inc. in broadening its range of cancer early-detection tests. GRAIL, the healthcare company based in the United States, specializes in the development of innovative technologies for early cancer detection with the overarching goal of saving lives and improving overall health.

Major companies operating in the population screening market report are F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Abbott Laboratories, Siemens Healthineers AG, Quest Diagnostics Incorporated, Eurofins Scientific SE, Agilent Technologies Inc., Sonic Healthcare Limited, Illumina Inc., SYNLAB International GmbH, Quidel Corporation, Bio-Rad Laboratories Inc., Unilabs, Qiagen N.V., Exact Sciences Corporation, ARUP Laboratories Inc., LGC Limited, OPKO Health Inc., Natera Inc., Cerba HealthCare S.A.S, Invitae Corp, Amedes Holding GmbH, Grail, Luminex Corporation, Novogene Co. Ltd., Trinity Biotech, Gene by Gene Ltd., Innova Medical Group Inc., Evoq Technologies LLC, LabPLUS

North America was the largest region in the population screening market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the population screening market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the population screening market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The population screening market consists of revenues earned by entities by providing services such as next-generation sequencing (NGS) and microarray-based genotyping, imaging tests, mammography screening, colonoscopy screening, cholesterol screening, and blood pressure screening. The market value includes the value of related goods sold by the service provider or included within the service offering. The population screening market also includes sales of smartphone-based biosensors, kits, and chips, which are used in providing population screening services. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

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.

Population Screening 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 population screening 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.

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Where is the largest and fastest growing market for population screening ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The population screening 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.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Product: Hardware Equipment; Testing Or Lab; Analytics Or Interpretation
• 2) By Gender: Male; Female
• 3) By Age: Ages Less Than 15; 15-65; Ages 65 And Above
• 4) By Business: Hospitals; Research Institutes; Diagnostic Labs
• Companies Mentioned: F. Hoffmann-La Roche Ltd.; Thermo Fisher Scientific Inc.; Abbott Laboratories; Siemens Healthineers AG; Quest Diagnostics Incorporated
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.