What is Hereditary Cancer Testing Market?
Genetic testing helps estimate the chance of developing cancer. It does this by searching for specific changes in genes, chromosomes, or proteins. Genetic testing helps to predict the risk of a particular disease, find if genes that may pass have increased cancer risk to children, and provide information to guide health care. Hereditary cancer testing is increasing in its scope and ambition with each year that passes, requiring a greater proportion of the healthcare workforce to acquire a working knowledge of cancer and cancer testing to manage their patients safely and sensitively.
The market study is being classified by Type (Biopsy, Imaging and Others), by Application (Breast Cancer, Ovarian Cancer, Colorectal Cancer and Others) and major geographies with country level break-up.
Ambry Genetics (United States), ARUP Laboratories (United States), Asper Biogene (Estonia), Natera Inc (United States), Caris Life Sciences (United States), BioReference Laboratories (United States), Progenity (United States), NeoGenomics Laboratories, Inc (United States), Blueprint Genetics (Finland), CellMax Life (United States), Fulgent Genetics (United States), Myriad Genetics, Inc. (United States) and Myogenes (United Kingdom) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are LabCorp (United States), Quest Diagnostics (United States) and Pathway Genomics (United States).
The increasing cases of cancer growing the need for its testing tools in the market. The leading firms are coming with newly enhanced products with technological advancements increasing the competition between rivalries. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Hereditary Cancer Testing market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Hereditary Cancer Testing market by Type, Application and Region.
On the basis of geography, the market of Hereditary Cancer Testing has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rising Demand for Non-invasive Techniques for the Detection of Hereditary Cancer
- Increasing Need for Early Detection and Accurate Diagnosis
- The Surge in Adoption of Histopathological Detection
- Difficulties in Accessing the Complete Genomic Data for Early Detection and Prevention
- Increasing Government Funding for Improvement of Rapid Diagnostics
- Rising Healthcare Spending in Developing Economies
- High Cost Associated With the Tests
Market Leaders and some development strategies
In Dec 2019, Caris Life Sciences® and Ambry Genetics (Ambry) announced that Caris will begin offering Ambry’s 67-gene CancerNext-Expanded panel to evaluate the hereditary risks for cancer. This will be the most comprehensive, clinically relevant molecular and genetic offering on the market to guide the treatment and management of cancer.
In July 2020, Myriad Genetics, Inc. announced a new collaboration with OptraHEALTH® to implement a cognitive ChatBOT named Gene™ to provide genetic and financial assistance information to prospective patients.
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Hereditary Cancer Testing Providers, Hereditary Cancer Testing Devices Provider, Suppliers and Distributors of Hereditary Cancer Testing Devices, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-Use Industry and Others
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