Hereditary Cancer Testing Market To Witness Huge Growth by 2031 | Thermo Fisher Scientific, Inc., Qiagen

Hereditary cancer is any cancer caused by an inherited genetic mutation. An inherited gene means that it is passed on from parent to child within a family. It is known that harmful variants in some genes are associated with an increased risk of developing cancer. Genetic testing helps estimate that an individual has a lifetime chance of developing cancer. This can be done by looking for specific changes in genes, chromosomes or proteins. These include breast cancer, ovarian cancer, colon cancer, thyroid cancer, prostate cancer, pancreatic cancer, melanoma, kidney cancer and stomach cancer. Hereditary cancer testing helps predict the risk of a particular type of cancer. Most breast and ovarian cancers aren't caused by inherited mutations, so genetic testing won't help most women with a family history of breast and ovarian cancer. Genetic testing also does not identify the cause of some hereditary breast and ovarian cancers because the genes involved in these cancers are still unknown. Therefore, genetic counseling before genetic testing for hereditary breast and ovarian cancer is important to determine whether the person and their family members are likely enough to have a mutation and whether testing is worth it.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭-- https://www.alliedmarketresearch.com/request-sample/11503

The colorectal cancer segment to cite the fastest CAGR-

By cancer type, the other cancers segment contributed to nearly two-thirds of the global hereditary cancer testing market share in 2021, and is expected to lead the trail by 2031. This is attributed to increase in the prevalence of breast cancer and rise in the geriatric population as they are more prone to chronic diseases. The colorectal cancer segment, however, is expected to exhibit the fastest CAGR of 13.4% from 2022 to 2031. This is due to surge in the number of breast cancer patients and increase in the number of cancer testing products available in the market.

The predictive testing segment to dominate by 2031-

By test type, the predictive testing segment garnered more than two-thirds of the global hereditary cancer testing market share in 2021, and is expected to retain its dominance by 2031. The same segment would also portray the fastest CAGR of 11.9% during the forecast period. This is due to upsurge in demand for predictive testing performed in the hospitals and rise in the preference for predictive testing.

The hospitals segment garnered the major share in 2021-

By end user, the hospitals segment garnered nearly half of the global hereditary cancer testing market share in 2021, and is expected to retain its dominance by 2031. This is due to increase in the number of hospitals, surge in healthcare expenditure, and rise in the hospital visits of cancer patients for early diagnosis of cancers. The diagnostic centers segment, on the other hand, is expected to exhibit the fastest CAGR of 12.2% from 2022 to 2031, due to rise in the number of diagnostic centers and increase in adoption of hereditary cancer testing in the diagnostic centers.

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North America grabbed the highest share-

Based on region, North America held the major share in 2021, generating nearly two-fifths of the global hereditary cancer testing market. This is due to rise in the geriatric populatio, and surge in number of diagnostic procedures in the province. The Asia-Pacific region, however, would cite the fastest CAGR of 13.8% throughout the forecast period. This is due to the increasing prevalence of cancer types and the rising number of product launch & product approvals across the region.

Key players in the industry-

Agilent Technologies, Inc.
Bio-Rad Laboratories, Inc.
Danaher Corporation
Abbott Laboratories
Eurofins Scientific SE
Illumina, Inc.
Myriad Genetics, Inc.
Qiagen N.V.
Thermo Fisher Scientific, Inc.
F. Hoffmann-La Roche AG

The report analyzes these key players in the global hereditary cancer testing market. These players have incorporated various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in assessing the operating segments, their business performance & product portfolio, and so on.

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