Hereditary Cancer Testing Market is Likely to Upsurge USD 13,085.04 Million Globally by 2029, Size, Share, Trends, Demand, Market Dynamics, Growth Forecast and Challenges

HOUSTON, Nov. 17, 2022 (GLOBE NEWSWIRE) — Data Bridge Market Research completed a qualitative study titled “Hereditary Cancer Testing Market” with 100+ market data tables, pie charts, graphs, and figures spread across Pages and an easy-to-grasp full analysis. The most up-to-date technology was used in conjunction with expert industry knowledge and practical, effective, and innovative solutions to develop this Hereditary Cancer Testing report. Market penetration-increasing tactics such as new product releases, geographical expansion, agreements, joint ventures, partnerships, and acquisitions are discussed. This study of the Hereditary Cancer Testing market focuses on numerous submarkets that are anticipated to grow rapidly in terms of revenue throughout the study’s approximate forecast time frame. The report’s research, analysis, and insights give you a clear picture of the market from which to make informed business decisions.

Data Bridge Market Research analyses that the global hereditary cancer testing market is expected to reach the value of USD 13,085.04 million by 2029, at a CAGR of 12.9% during the forecast period. This market report also covers pricing analysis, patent analysis, and technological advancements in depth.

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Hereditary cancer is any cancer caused by an inherited genetic mutation. Harmful variants in certain genes are associated with an increased risk of cancer. Genetic testing can estimate a person’s lifetime risk of developing cancer. This can be done by looking for mutations in their genes, chromosomes, or proteins. Genetic testing is available for several types of cancer. These include breast, ovarian, colon, thyroid, prostate, pancreatic, skin cancer, sarcoma, and kidney and stomach cancer. Numerous medical studies show that 5% to 10% of common cancers are considered hereditary. Genetic tests are performed to determine whether a person carries a harmful genetic variant. These tests also help determine if a family member who has not yet had cancer has inherited the same variant as a family member known to have a cancer susceptibility alternative.

Cancer is a genetic disease caused by certain mutations in the genes that control the function of cells, particularly affecting their growth and reproduction. Inherited genetic mutations are responsible for approximately 5-10% of all cancers. Researchers have linked mutations in specific genes to more than 50 hereditary cancer syndromes that affect people through the development of certain cancers. In addition, about 5-10% of breast cancer cases are associated with genetic mutations inherited from parents. Thus, the increasing prevalence of cancer is driving the steady growth of hereditary cancers and thus, driving the growth of the hereditary cancer testing market. In addition, increased demand for non-invasive testing methods and growing demand for better quality healthcare and early diagnosis are the major opportunities for the market growth. Moreover, Ethical challenges faced during hereditary cancer testing and rising competition among market players are the key challenges for the market growth.

The Hereditary Cancer Testing Market is Dominated by Firms Such as

Opportunity

• Strategic Initiatives by Market Players

The rise in the hereditary cancer testing industry increases the need for strategic business ideas. It includes a partnership, business expansion, and other development. The surge in demand for hereditary cancer treatment is significantly increasing the demand for diagnostic testing methods. The planned strategies allow the market players to align with the organization’s functional activities to achieve set goals. It guides the company’s discussions and decision-making in determining resource and budget requirements to accomplish objectives, thus increasing operational efficiency.

These strategic initiatives, such as product launches, agreements, and business expansion by the major market players, will boost the market growth and are expected to act as an opportunity for the global hereditary cancer testing market. The strategic initiatives are expected to aid in growth and improve the company’s product portfolio, ultimately leading to more revenue generation. Hence, these strategic initiatives by the market players are expected to act as an opportunity for growth in the global hereditary cancer testing market.

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Recent Development

• In July 2022, Helio Genomics and its business partner, Fulgent Genetics (FLGT) has announced that the American Medical Association (AMA) issued a new Category I Current Procedural Terminology (CPT) Proprietary Laboratory Analyses code for HelioLiver and broader adoption of advanced innovative surveillance tests for liver cancer in the U.S. This has helped the company to expand their product portfolio.

• In March 2022, Illumina, Inc. introduced the n vitro diagnostic (IVD) kit, a cancer RNA sequencer. The launch resulted in expansion of the sequencing product line, followed by post market approval.It is depicted to show a linear market growth.

Fundamental Aim of Hereditary Cancer Testing Market Report

In the Hereditary Cancer Testing market, every company has goals, but this report focus in on the most important ones, allowing you to gain insight into the competition, the future of the market, potential new products, and other useful information that can boost your sales significantly.

• Major alterations to the Hereditary Cancer Testing Market in the near future.

• Notable Market rivals around the world.

• The Hereditary Cancer Testing Market’s Future Scope and Product Outlook

• Future-promising emerging markets.

• The Market Presents Difficult Challenges and Threats.

• Sales data and profiles of the world’s leading Hereditary Cancer Testing Players

Hereditary Cancer Testing Market Drivers

• Rising Incidence of Hereditary Cancer

Cancer arises from the uncontrolled growth of cells. Cancer is caused by harmful changes (mutations) in genetic messages (genes) that control the growth and division of cells, preventing them from doing their job effectively.

In hereditary cancer cases, the individual inherits a copy of the mutated growth regulatory gene from one parent and a working copy of the same gene from the other parent. The mutated gene is also called a “cancer susceptibility gene.” As this cancer-susceptibility gene is inherited, it is found in every cell in the body, but a working copy of the gene keeps each cell functioning properly. However, if a mutation damages a functional copy of a gene in a cell, the cell can lose control of its growth and become cancerous. Thus, individuals who inherit a cancer gene are much more likely to develop certain cancers during their lifetime.

Thus, rising incidences of hereditary cancer increase the demand for hereditary cancer testing and may act as a driver for the growth of the global hereditary cancer testing market.

• Increase In The Geriatric Population

Cancer can be a disease of aging patients. Across the globe, the geriatric population is increasing. The risk of hereditary cancer among geriatrics is much more. The rising geriatric population can result in better provision of the global hereditary cancer testing market. It anticipated an upsurge in demand in the global hereditary cancer testing market. An aging population is causing a redistribution of the demographic structure that will affect the future of health care. Undoubtedly, the risk of cancer increases exponentially with age.

Hereditary cancer, including its incidence and associated risk, using the world’s largest complete family structure and medically confirmed cancer database, was approximately twice as high in the population aged 8-20 years born to affected parents or siblings of people who have no relatives. The risk of small bowel, testicular, thyroid, and bone cancers was five to eight times greater.

Thus, the increase in cancer incidences among the geriatric population is expected to be a driving factor for the growth of the global hereditary cancer testing market.

What benefits does the DBMR research study is going to provide?

• Latest industry influencing trends and development scenario

• To Seize powerful market opportunities

• A key decision in planning and to further expanding the market share

• Identify Key Business Segments, Market proposition & Gap Analysis

• Assisting in allocating marketing investments

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Key Market Segments Covered in Hereditary Cancer Testing Industry Research

By Test Type

By Diagnosis Type

By Technology

• Polymerase Chain Reaction (Pcr)

By Disease Type

• Hereditary Leukemia And Hematologic Malignancies Syndromes

• Familial Adenomatous Polyposis (Fap)

• Von Hippel-Lindau Disease

• Multiple Endocrine Neoplasias (Men) Syndromes

By End User

By Distribution Channel

Hereditary Cancer Testing Market Regional Analysis/Insights:

The global hereditary cancer testing market is analyzed and market size information is provided by country, test type, diagnosis type, technology, disease type, end user, and distribution channel.

The countries covered in this market hereditary cancer testing market report U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, Turkey, Belgium, Netherlands, Switzerland, and the rest of Europe, China, Japan, India, South Korea, Singapore, Thailand, Malaysia, Australia, Philippines, Indonesia, and the rest of Asia-Pacific, South Africa, Saudi Arabia, UAE, Egypt, Israel, and the rest of the Middle East and Africa, Brazil, Argentina, and the rest of South America.

North America is dominating the market due to the increasing investment in R&D is expected to boost the market growth. The U.S. dominates North America region due to the strong presence of key players Invitae Corporation, Illumina, Inc., Natera, Inc. and others. U.K. dominates Europe region due to the mass production of hereditary cancer tests and increasing demand from emerging markets and expansion of healthcare industries. China dominates Asia-Pacific region due to rise in cancer related diagnostic tests.

Table of Contents:

1. Introduction
2. Market Segmentation
3. Executive Summary
4. Premium Insights
5. Global Hereditary Cancer Testing Market: Regulations
6. Market Overview
7. Global Hereditary Cancer Testing Market, By Indication
8. Global Hereditary Cancer Testing Market, By Drug
9. Global Hereditary Cancer Testing Market, By Route of administration
10. Global Hereditary Cancer Testing Market, By End User
11. Global Hereditary Cancer Testing Market, By Distribution Channel
12. Global Hereditary Cancer Testing Market, By Region
13. Global Hereditary Cancer Testing Market: Company Landscape
14. SWOT Analyses
15. Company Profile
16. Questionnaires
17. Related Reports

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