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Multi Cancer Early Detection Global Market Report 2024 Global Market Analysis, Trends, Growth, Research And Forecast 2033
Multi Cancer Early Detection Global Market Report
As per the report, the multi cancer early detection market size has grown rapidly in recent years. It will grow from $1.22 billion in 2023 to $1.45 billion in 2024 at a compound annual growth rate (CAGR) of 19%. The multi cancer early detection market size is expected to see rapid growth in the next few years. It will grow to $2.93 billion in 2028 at a compound annual growth rate (CAGR) of 19.2%.
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Shift Towards Personalized Medicine On The Multi-Cancer Early Detection Market
A rising shift towards personalized medicine is expected to propel the growth of the multi-cancer early detection market going forward. Personalized medicine is a medical approach that tailors treatment and healthcare decisions to the individual characteristics, needs, and genetic profile of each patient. The increasing demand for personalized medicine stems from its capacity to offer enhanced treatment efficacy, propelled by advancements in genomics, the rising complexity of diseases, and supportive regulatory measures. Personalized medicine enhances the effectiveness of multi-cancer early detection by customizing screening and treatment strategies according to individual genetic and biomarker profiles. For instance, in February 2024, according to the Personalized Medicine Coalition, a US-based non-profit organization, the FDA approved 16 novel personalized therapies for patients with rare diseases in 2023, compared to six in 2022. It includes seven drugs tailored for cancer treatment and three targeting different diseases and conditions. Therefore, a rising shift towards personalized medicine is driving the multi-cancer early detection market.
Innovations In Diagnostic Technologies Drive Advancements In The Multi-Cancer Early Detection Market
Major companies operating in the multi-cancer early detection market are developing ctDNA-based liquid biopsy tests to enhance sensitivity, specificity, and early detection rates, thereby improving patient outcomes. A ctDNA-based liquid biopsy test detects circulating tumor DNA in the bloodstream, providing a non-invasive means to monitor tumor dynamics, treatment response, and minimal residual disease or early recurrence. For instance, in May 2023, Lucence, a US-based cancer diagnostics manufacturer, launched LucenceINSIGHT, an innovative multi-cancer early detection (MCED) blood test, at their US headquarters. This innovative ctDNA-based liquid biopsy test offers screening for 10 prevalent cancers with just one blood sample. With 78% of global cancer fatalities attributed to types lacking routine screening recommendations, this blood test promises enhanced convenience and accessibility for asymptomatic individuals seeking screening across multiple cancer types.
The multi cancer early detection market covered in this report is segmented -
1) By Type: Liquid Biopsy, Gene Panel, Laboratory Developed Tests (LDT), Other Types
2) By Cancer Type: Solid Tumors, Hematological Malignancies
3) By End-User: Hospitals, Diagnostic Laboratories, Other End Users
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Major companies operating in the multi cancer early detection market are Illumina Inc., Sysmex Inostics GmbH, Exact Sciences Corporation, Natera Inc, Guardant Health, Core Diagnostics, Genecast Biotechnology Co. Ltd, Burning Rock Biotech Limited, Freenome Holdings Inc., Guangzhou AnchorDx Medical Co. Ltd, Singlera Genomics Incorporated, Naveris Inc. , Lucence Health Inc., PredOmix Technologies, Micronoma INC., EarlyDiagnostics (EarlyDx), Elypta AB, Predictive Oncology, ANPAC Bio-Medical Science Co. Ltd, CanSense Ltd, Epigenomics AG, VolitionRX, OncoSeek , Laboratory for Advanced Medicine, Inc., AnchorDx
Contents of the report:
1. Executive Summary
2. Multi Cancer Early Detection Market Report Structure
3. Multi Cancer Early Detection Market Trends And Strategies
4. Multi Cancer Early Detection Market - Macro Economic Scenario
5. Multi Cancer Early Detection Market Size And Growth
…..
27. Multi Cancer Early Detection Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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