As per the current market research conducted by the CMI Team, the global Hereditary Cancer Testing Market size is expected to record a CAGR of 7.5% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 6.2 Billion. By 2033, the valuation is anticipated to reach USD 12.1 Billion.

Hereditary Cancer Testing Market: Growth Factors and Dynamics

  • Increasing Awareness and Screening Programs: Growing awareness about the importance of early detection and genetic screening for hereditary cancers is driving demand for hereditary cancer testing. Screening programs and initiatives aimed at identifying individuals at high risk for hereditary cancers contribute to market growth.
  • Advancements in Genetic Testing Technologies: Advances in genetic testing technologies, such as next-generation sequencing (NGS) and multiplex PCR, have led to the development of more accurate, cost-effective, and accessible hereditary cancer testing solutions. These technological advancements expand the reach of genetic testing and enhance diagnostic accuracy, driving market expansion.
  • Rising Incidence of Hereditary Cancers: The increasing prevalence of hereditary cancers, attributed to factors such as aging populations, lifestyle changes, and environmental factors, is fueling demand for hereditary cancer testing. The growing recognition of the role of genetics in cancer risk assessment and management further drives market growth.
  • Expanding Applications in Precision Medicine: Hereditary cancer testing plays a crucial role in precision medicine initiatives aimed at tailoring cancer prevention, diagnosis, and treatment strategies to individual genetic profiles. The integration of genetic information into personalized cancer care pathways drives the adoption of hereditary cancer testing and expands its applications in clinical practice.
  • Government Initiatives and Supportive Regulations: Government initiatives and supportive regulations promoting genetic testing, cancer screening, and precision medicine drive market growth. Funding for research, public health programs, and genetic counseling services, along with regulatory frameworks ensuring quality standards and patient confidentiality, encourage the adoption of hereditary cancer testing.

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Hereditary Cancer Testing Market: Partnership and Acquisitions

  • In 2023, MedGenome introduced a genetic test for Facioscapulohumeral Muscular Dystrophy diagnosis in India, broadening its product portfolio. The move reflects escalating competition in the market, highlighting the company’s commitment to addressing unmet medical needs and expanding its presence in the genetic testing sector.
  • In 2021, Quest Diagnostics, a leading provider of diagnostic information services, completed an all-cash equity acquisition of Blueprint Genetics. Blueprint Genetics is renowned for its expertise in gene variant interpretation using next-generation sequencing (NGS) and proprietary bioinformatics, enhancing Quest’s capabilities in genetic testing and analysis.

Hereditary Cancer Testing Market: COVID-19 Analysis

The COVID-19 pandemic has had a significant impact on the Hereditary Cancer Testing Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

  • Disruption in Healthcare Services: During the Covid-19 pandemic, healthcare services, including genetic testing and counseling, faced disruptions due to resource reallocation, lockdown measures, and prioritization of Covid-19 response efforts. This led to delays or cancellations of hereditary cancer testing appointments and reduced access to testing services for individuals at risk.
  • Economic Constraints and Patient Concerns: Economic uncertainties and financial constraints resulting from the pandemic, coupled with patient concerns about virus exposure and healthcare facility safety, led to decreased demand for elective procedures, including hereditary cancer testing. Many individuals postpone or forego genetic testing due to cost concerns or fears of visiting healthcare facilities.
  • Resumption of Healthcare Services: With the easing of COVID-19 restrictions and the rollout of vaccination campaigns, healthcare services, including hereditary cancer testing, gradually resumed normal operations. Health systems implemented safety measures to minimize virus transmission, restore patient confidence, and ensure continuity of genetic testing services.
  • Emphasis on Telemedicine and Remote Testing: The pandemic accelerated the adoption of telemedicine and remote testing options in genetic counseling and hereditary cancer testing. Virtual consultations, telehealth platforms, and at-home testing kits provided alternatives to in-person visits, expanding access to genetic testing services and overcoming barriers related to travel restrictions and healthcare facility closures.
  • Government Support and Funding: Government support, funding, and policy initiatives aimed at healthcare system recovery and pandemic response efforts facilitated the resumption of genetic testing services. Funding for research, public health programs, and genetic counseling services, along with regulatory flexibility and telehealth reimbursement policies, supported the recovery of the hereditary cancer testing market.

List of the prominent players in the Hereditary Cancer Testing Market:

  • Myriad Genetics Inc.
  • Quest Diagnostics
  • Invitae Corporation
  • Illumina Inc.
  • Thermo Fisher Scientific Inc.
  • Ambry Genetics Corporation
  • BioReference Laboratories Inc.
  • LabCorp
  • Qiagen N.V.
  • Roche Diagnostics
  • Color Genomics Inc.
  • Centogene AG
  • GeneDx
  • Natera Inc.
  • Foundation Medicine Inc.
  • Others

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