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The Cancer Testing Screening Market is rising at a significant rate owing to the rapid growth in the number of global cancer incidence rates. The growth can be attributed to increasing unhealthy lifestyle choices such as smoking, alcohol consumption, processed food consumption and rising obesity levels in both developing and developed countries. According to a report published by American Cancer Society, nearly 2 million new cases of cancer are expected to be diagnosed in the United States in 2022, with 609,000 people expected to die from the disease. According to the American Cancer Society's annual report, 1,918,030 Americans will be diagnosed with cancer in 2021, equating to 5,250 new cases every day. This is an increase from the estimated 1.8 million new cases in 2021. Besides, according to a report by The National News, UAE, China and India have an increase in cases related to alcohol-related cancer. For instance, more than 740,000 cancer cases were caused by alcohol intake over the world. A growing new number of cases related to cancer is expected to boost the Cancer screening and testing market globally.
Cancer Testing typically involves the use of various methods such as imaging, biopsy, lab tests, genomic tests and molecular tests to identify cancerous growth within the body of a patient. Besides, they can also be used to give medical professionals insights regarding the growth of cancer and help them choose the most effective course of treatment for the condition. Furthermore, genomic testing can also be used to identify the risk of the patient developing cancer during their lifetime even before the disease occurs, thereby increasing the chance of early detection and treatment. Such testing systems are essential as the detection of cancer during the early stages is a major factor that can increase the chance of the patient successfully being cured or entering into remission. Abdominal/Digestive system cancer dominated the cancer screening/testing market in 2021. According to the American Cancer Society's estimates for stomach cancer (also known as gastric cancer) in the United States for 2022, there will be approximately 26,380 new cases (15,900 men and 10,480 women) diagnosed, and approximately 11,090 people will die from stomach cancer (6,690 men and 4,440 women). The global stomach cancer market is being boosted by factors such as the growing geriatric population and rising technological advancements in the field of gastric cancer testing.
North America held the largest share of the Cancer Testing Screening Market owing to the high per capita healthcare expenditure in the United States and Canada, together with growing knowledge about early detection and treatment of breast, colon, and prostate cancer in the region. According to the US Food and Drug Administration (FDA), between February 2021 and February 2022, the number of mammograms performed in the country was anticipated to be around 38,980,283. However, Asia Pacific is set to be the fastest-growing segment during the forecast period owing to the growing rate of endocrine, abdominal, leukaemia, myeloma and lymphoma cancers in the region. Besides, rising disposable income and rapid development of the healthcare sector in major emerging economies such as China, India and Vietnam are anticipated to further contribute to the market growth.
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Global Cancer Testing Screening Market Drivers
Increasing Technological Advancements In Cancer Testing Is Anticipated To Drive Market growth:
Cancer testing has become more accurate and user-friendly as a result of technological developments and automation, which has aided industry growth. Novel screening technologies have largely been adopted due to their ability to increase tumour detection rates. For instance, breast screening technology has improved in sensitivity, resulting in a higher detection rate of non-lethal tumours. As a result, advancements in breast screening technology may contribute to 'over-diagnosis,' which refers to the detection of tumours that pose little threat to life and would have gone undetected if not for screening. According to a Nucleix report, the company stated that it had recently made advances in early detection to screen for lung cancer, with a focus on testing high-risk inpiduals based on smoking history. There are currently few options for early lung cancer detection, and only 10% of the nearly 15 million high-risk smokers who should receive low-dose CT imaging do so. It is predicted that recent advancements in early lung cancer detection will act as a boost for the cancer screening market globally. The cancer screening market is likely to be driven by the approval of novel biomarkers and increased R&D spending by key market players. Proteomics and genomics are two OMICS technologies that will propel the cancer testing industry forward during the forecast period.
The Growing Number Of Cancer Screening Awareness Campaigns On A Global Scale Is Projected To Boost Market Growth:
Several governmental and commercial groups are launching various campaigns to raise awareness about the importance of early detection of breast cancer, the second most frequent cancer among women in the United States. Besides, nations around the globe have initiated various cancer screening awareness campaigns to encourage young people to make these life-saving behaviours part of their daily routine. For instance, Breast cancer campaigns, Cervical cancer awareness campaigns, Protect Your Skin campaigns, Ovarian cancer awareness campaigns and Colorectal cancer awareness campaigns are among the few national and global campaigns that impact the growth of the cancer screening and diagnostics market. Furthermore, the Government of Australia has launched Social Media Tool kit 2021 for promoting National Cervical Cancer Awareness Week through social media networks and platforms.
R&D Investment:
In May 2020, Roche and Fred Hutchinson Cancer Research Centre established a partnership to develop and test a digital remote-monitoring system for cancer patients. Through the creation of a verified digital solution, the partners want to reduce unexpected emergency department (ED) visits and inpatient (IP) stays for cancer patients The investment is anticipated to increase the efficiency of cancer testing, screening and treatment as the system can automatically monitor vitals of cancer patients in real-time.
The Major Players in this Market Include
The major companies in the Global Cancer Testing Screening Market include DiaSorin S.p.A, Immunodiagnostic Systems Holdings Ltd, Epigenomics AG, Quest Diagnostics Inc., F. Hoffmann-La Roche Ltd, VolitionRX Limited, Abbott Laboratories, QIAGEN GmbH, Siemens Healthineers AG (Siemens Healthcare) and Becton, Dickinson and Company
Over the years, key players in the market have mainly focused on increasing collaborations between companies to combine their expertise in order to develop more innovative testing and screening products. The launch of such products is anticipated to increase demand for cancer testing and screening as they can more effectively detect cancerous growth than the existing systems in the market. For instance, in July 2020, Roche entered into a collaboration with Blueprint Medicines, for co-manufacturing and co-commercialization of Pralsetinib, an experimental, precision medicine in late-stage development for people with RET-altered non-small cell lung cancer, certain forms of thyroid cancer, and other solid tumours.