Author: Vikas Kumar
17 January 2023
Multi-cancer detection (MCD) assays measure biological signals that may be released by cancer cells in body fluid. Multi-cancer early detection (MCED) is a new kind of blood test that detect cancer at its earliest stages when it’s most treatable. MCD assays are being developed to simultaneously screen for malignancies in multiple organ sites. The market is principally driven by factors such as the increasing prevalence of cancer and the demand for early detection diagnostics, which promotes uncomplicated illness care and subsequently lowers the death rate. According to the World Health Organization, in 2022, Cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020, or nearly one in six deaths. The most common cancers are breast, lung, colon and rectum, and prostate cancers.
The Multi Cancer Early Detection Market is expected to grow at a steady rate of around 16% CAGR during the forecast period. Major companies in the market developed multi cancer early detection applications with technologically advanced features. For instance, in July 2022, in association with Yorkshire Cancer Research and the University of Leeds, Elypta launched the Multi-Cancer Early Detection study to assess the levels of metabolic GAGOme in adults at high risk for developing cancer.
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Based on type, the market is segmented into liquid biopsy, gene panel, laboratory-developed tests (LDT), and others. The liquid biopsy segment accounted for a significant CAGR in 2020 and it is estimated that it will grow rapidly during the projected timeframe. Liquid biopsy is one of the emerging technologies in diagnostics. The growing demand for liquid biopsy in cancer diagnostics is the increasing prominence of precision medicine in cancer care.
Based on end user, the market is fragmented into hospitals, diagnostic laboratories, and others. The hospital segment dominated the multi-cancer early detection market and generate a significant market share in 2020. The dominance of this segment is attributed to the presence of medical professionals involved in diagnosis and treatment, such as doctors with specific training. Hospitals are used as a platform to inform and raise public knowledge of various illnesses and ailments.
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For a better understanding of the market adoption of the Multi cancer early detection industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. The major factors such as favorable government initiatives, increased investments in research and development for multi cancer early detection coupled with technological advancements and the increasing prevalence of cancer are propelling the growth of this market in the region. For instance, according to the American Cancer Society, in 2022, an estimated 1.9 million new cancer cases were diagnosed and 609,360 cancer deaths in the United States.
Some of the major players operating in the market include Illumina, Inc., EXACT Sciences Corporation, Foundation Medicine Inc., Guardant Health Inc., Burning Rock Biotech Limited, GENECAST, Biocept Inc., Sysmex Corporation, Berry Genomics, Biocartis.
Global Multi Cancer Early Detection Market Segmentation
Market Insight, by Type
• Liquid Biopsy
• Gene Panel• Laboratory Developed Tests (LDT)• Others
Market Insight, by End User
• Hospitals
• Diagnostic Laboratories• Others
Market Insight, by Region
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