Multicancer Screening Market Expands as Early Detection and Personalized Medicine Drive Demand

The Multicancer Screening market is expected to grow from an estimated USD 1251.6 million in 2024 to USD 5142.1 million in 2033, at a CAGR of 17.0%. The global multicancer screening market is witnessing strong growth, fueled by the rising global cancer burden and growing awareness about the importance of early detection. Healthcare providers and patients alike are placing increasing emphasis on screening methods that can identify cancer at early, more treatable stages, making multicancer tests a vital tool in modern preventive care.

Technological breakthroughs, particularly in liquid biopsy and genetic screening, are transforming the way cancer is detected. These innovative tests allow for the identification of multiple cancer types from a single blood sample, offering a safer, faster, and less invasive alternative to traditional diagnostics. This efficiency is leading to broader adoption among hospitals and health systems around the world.

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According to the Canadian Cancer Society, over 233,000 people in Canada were living with cancer in 2022, while global figures are expected to surpass 30 million cases by 2040, as per GLOBOCAN. As cancer rates continue to rise, the need for early, accurate, and accessible screening solutions becomes even more urgent.

Government initiatives and growing investments in healthcare are also playing a key role. Public health programs and collaborations are increasingly prioritizing early detection. One such example is a partnership launched in June 2023 between Baylor Scott & White Research Institute and Exact Sciences Corporation in Texas to improve early cancer detection rates through multicancer screening.

Precision Medicine Boosts Market Growth

A major force driving this market is the rise of precision medicine. By tailoring healthcare to an individual's genetic profile, lifestyle, and environment, precision medicine aims to improve the effectiveness of treatment and diagnosis. Multicancer screenings, especially those using gene panels and liquid biopsy, align perfectly with this approach.

These tests identify specific genetic markers linked to various types of cancer, helping doctors develop targeted treatment plans. As this personalized method becomes more common in clinical practice, the demand for reliable multicancer detection tools is increasing. Reports from the American Society of Clinical Oncology highlight that most colorectal cancer cases occur in people over 50, reinforcing the need for age-appropriate, precision-based screening.

Technical Barriers Remain a Challenge

Despite the growth, the market still faces hurdles. One of the biggest challenges is maintaining high sensitivity and specificity across different cancer types. Sensitivity ensures the test correctly detects those with cancer, while specificity confirms those without it. Striking the right balance is difficult, as different cancers present varied biological characteristics.

Low sensitivity can lead to missed diagnoses, while low specificity can result in false positives-both scenarios contributing to patient stress and additional healthcare costs. Additionally, the complexity of developing platforms that accurately identify multiple cancers continues to demand substantial research, time, and investment.

Until these technical issues are resolved, some healthcare systems may remain cautious in adopting these tests at scale. However, ongoing advancements in technology and analytics are expected to gradually overcome these barriers.

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Segment Overview: Liquid Biopsy Leads the Way

In 2023, liquid biopsy emerged as the leading method in the multicancer screening market. Its non-invasive nature and convenience make it a top choice for both providers and patients. By analyzing biomarkers like circulating tumor DNA in blood samples, liquid biopsies offer a quick and reliable way to detect early-stage cancers.

On the other hand, Gene Panels and Laboratory Developed Tests (LDTs) are the fastest-growing segments. These tests offer precision and flexibility, allowing healthcare institutions to tailor their screening strategies. As genomic research advances and more funding flows into personalized healthcare, these tools are becoming increasingly popular.

Multicancer Screening Top Companies and Competitive Landscape

The multicancer screening market is competitive, with key players focusing on innovation, strategic partnerships, and expanding their product portfolios. Leading companies include Exact Sciences Corporation, Illumina, Inc., GRAIL, Inc., Freenome Holdings, Inc., and Guardant Health, Inc., which are at the forefront of developing advanced liquid biopsy and genomic testing technologies.

These players emphasize improving sensitivity and specificity to enhance the accuracy of multicancer detection. Startups and biotech firms are also entering the market with novel screening solutions, increasing competition.

Strategic collaborations, mergers, and acquisitions are common as companies aim to strengthen their market presence and address the growing demand for early and efficient cancer diagnostics.

In October 2024, SeekIn Inc. revealed its innovative two-step multi-cancer screening strategy at the Early Detection of Cancer Conference in San Francisco. This approach aims to reduce the financial burden of population-wide screening, making Multi-Cancer Early Detection (MCED) tests more affordable and accessible.

Some of the key companies in the global Multicancer Screening Market include:

Illumina, Inc.

GRAIL, Inc.

Exact Sciences Corporation

FOUNDATION MEDICINE, INC.

AnchorDx

Guardant Health

Burning Rock Biotech Limited

GENECAST

Beijing Lyman Juntai International Medical Technology Development Co.

Freenome Holdings, Inc

Elypta AB

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Multicancer Screening Latest Industry Updates

In August 2024, Exact Sciences announced the enrollment of the first patient in its MCED Falcon Registry Real-World Evidence study at Baylor Scott & White, Texas's largest non-profit health system. This multi-site study aims to enroll up to 25,000 patients and evaluate the clinical performance, patient and provider experiences, and psychological impact of MCED testing over five years.

In February 2023, The NIH announced the Cancer Screening Research Network (CSRN) launch to evaluate new detection technologies and methods, supporting the Biden-Harris administration's Cancer Moonshot initiative. As part of this effort, the National Cancer Institute (NCI) has funded eight research groups to kick off the network.

Multicancer Screening Market Segmentation Analysis

By Type Outlook (Revenue, USD Million; 2020-2033)

Liquid Biopsy

Gene Panel, LDT & Others

By End Use Outlook (Revenue, USD Million; 2020-2033)

Hospitals

Diagnostic Laboratories

Others

By Regional Outlook (Revenue, USD Million; 2020-2033)

North America

United States

Canada

Mexico

Europe

Germany

France

United Kingdom

Italy

Spain

Benelux

Rest of Europe

Asia-Pacific

China

India

Japan

South Korea

Rest of Asia-Pacific

Latin America

Brazil

Rest of Latin America

Middle East and Africa

Saudi Arabia

UAE

South Africa

Turkey

Rest of MEA

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Multicancer Screening Market Size@ https://www.emergenresearch.com/industry-report/multicancer-screening-market/market-size

Multicancer Screening Market Share@ https://www.emergenresearch.com/industry-report/multicancer-screening-market/market-share

Multicancer Screening Market Trends@ https://www.emergenresearch.com/industry-report/multicancer-screening-market/market-trends

Multicancer Screening Regional Market Demand@ https://www.emergenresearch.com/industry-report/multicancer-screening-market/regional-market-demand

Multicancer Screening Market Analysis@ https://www.emergenresearch.com/industry-report/multicancer-screening-market/market-analysis

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