Global Cancer-focused Genetic Testing Service Market Insights Forecasts to 2033

• The Global Cancer-focused Genetic Testing Service Market Size was Valued at USD 7.78 Billion in 2023
• The Market Size is Growing at a CAGR of 7.81% from 2023 to 2033
• The Worldwide Cancer-focused Genetic Testing Service Market Size is Expected to Reach USD 16.51 Billion by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

The Global Cancer-focused Genetic Testing Service Market Size is Anticipated to Exceed USD 16.51 Billion by 2033, Growing at a CAGR of 7.81% from 2023 to 2033. Technological advancement and a shift in healthcare towards personalized medicine are broadening the scope of cancer-focused genetic testing. Innovations like NGS and liquid biopsies are transforming cancer diagnostics through faster, more accurate detection and monitoring, thereby creating more demand in the market.

Market Overview

The cancer-focused genetic testing service market encompasses specialized diagnostic services that inspect genetic material to identify associated mutations with cancer. Such a market utilizes advanced technology, including next-generation sequencing (NGS) and liquid biopsies, to offer accurate detection of early cancer and lead to personalized treatment plans for patients. This market can be considered a key entity in improving patient outcomes along with advancing precision oncology, given the increasing worldwide burden of cancer and the use of tailored therapies. Moreover, advancements in genetic testing technology, the growing prevalence of cancer, and the shift towards personalized medicine are the factors driving growth in the market. The companies invest in R&D, increase partnerships with healthcare providers, and focus on affordability. Improving accessibility, particularly in emerging markets, and raising awareness about the benefits of genetic testing will further propel adoption and expansion in the market. Recently, the United States government has escalated spending in genetic testing focused specifically on cancer as part of its larger Cancer Moonshot. The federal budget for this year commits $1.7 billion toward activities working on this initiative, which runs between agencies like the NCI and the CDC.

Besides that, a bipartisan Reducing Hereditary Cancer act was introduced in Congress to enhance the coverage of Medicare on genetic testing. The bill ensures that Medicare covers genetic testing for people who have a family history of cancer; this will make early detection and preventive care available for high-risk individuals.

Opportunities and Trends in the Cancer-focused Genetic Testing Service Market:

Improvements in genomic testing and an increased awareness of hereditary cancer risks, the market for cancer genetic testing is on the rise. Among key trends is the FDA's new regulatory framework, which recently authorized multi-gene tests like Invitae's. These changes to regulations make it easier for tests that identify cancer-linked mutations to enter the market, making them more accessible to patients and providers.

Government initiatives such as the Cancer Moonshot Program support cancer genetics research, which focuses on genetic risk factors and prevention techniques for high-risk and neglected groups. Projects like RESPOND investigate the interplay between genetic and environmental factors in prostate cancer in African American men, with the goal of reducing health disparities. NCI research on risk communication is critical for improving genetic counselling and follow-up care.

Such opportunities and trends suggest a great potential for companies and care providers to expand genetic testing services and be supported by advances in regulation, and funding directed toward prevention and early diagnosis of cancers in populations at risk.

Challenges in the Market for the Cancer-focused Genetic Testing Service Market:

Regulatory challenges and issues of reimbursement would limit the accessibility of treatment to the patients. Furthermore, ethical concerns about the privacy and discrimination issues also add burden to this entire phenomenon. Lack of proper patient education about the consequences of the genetic testing also adds to the barriers in decision-making. 

Report Coverage 

This research report categorizes the global cancer-focused genetic testing service market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global cancer-focused genetic testing service market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global cancer-focused genetic testing service market. 

Driving Factors

Advancing genomic technologies, greater awareness of the risk of hereditary cancers, and supportive government initiatives such as the Cancer Moonshot program will drive the cancer-focused genetic testing market. They are focused on the prevention and early detection of cancer, especially among the underprivileged. According to the National Cancer Institute, the market will increase by leaps and bounds. The estimation has been around $17.8 billion in the year 2027 due to the rising importance of personalized medicine in oncology and growing testing capabilities.  

Restraining Factors

Raising ethical issues, including privacy violations and discrimination regarding privacy, regulatory barriers and constraints towards reimbursement may limit further patient access in the markets of cancer-focused genetic testing, thereby limiting further expansion in these markets.
 

Market Segmentation

The global cancer-focused genetic testing service market share is classified into test type, cancer type, and end-user.

• The DNA testing segment is expected to hold the largest share of the global cancer-focused genetic testing service market during the forecast period.         

Based on test type, the global cancer-focused genetic testing service market is categorized as chromosome testing, DNA testing, direct DNA testing, indirect DNA testing, and biochemical genetic testing. Among these, the DNA testing segment is expected to hold the largest share of the global cancer-focused genetic testing service market during the forecast period. Advances in NGS technology have improved the accuracy and efficiency of DNA tests, which are now more accessible to healthcare providers and patients. The trend of personalized medicine, where treatment is tailored based on genetic profiles, further increases the demand for DNA testing, as this plays a crucial role in identifying hereditary cancer risks and guiding targeted therapies.

• The breast cancer segment is expected to grow at the fastest CAGR during the forecast period.     

Based on the cancer type, the global cancer-focused genetic testing service market is categorized as breast cancer, colorectal cancer, lung cancer, bladder cancer, kidney cancer, and others. Among these, the breast cancer segment is expected to grow at the fastest CAGR during the forecast period. This growth is due to the increased awareness and demand for genetic testing to identify mutations in genes such as BRCA1 and BRCA2, which significantly raise the risk of developing breast cancer. Moreover, governmental initiatives aimed at early detection and personalized treatment strategies further enhance the market potential for breast cancer genetic testing services.

• The diagnostic laboratories segment is expected to hold the largest share of the global cancer-focused genetic testing service market during the forecast period.         

Based on end-user, the global cancer-focused genetic testing service market is categorized as hospitals and clinics, diagnostic laboratories, and specialty cancer clinics. Among these, the diagnostic laboratories segment is expected to hold the largest share of the global cancer-focused genetic testing service market during the forecast period. Growth in the sector is driven by innovations in NGS technologies that offer comprehensive genetic analysis to be used in designing customized treatment plans. The initiatives of the government, led by the CMS, extended coverage to NGS tests, thus opening avenues for patients and encouraging diagnostic laboratories to introduce more services in this category.

Regional Segment Analysis of the Global Cancer-focused Genetic Testing Service Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is projected to hold the largest share of the global cancer-focused genetic testing service market over the forecast period. 

North America is projected to hold the largest share of the global cancer-focused genetic testing service market over the forecast period. The region has a robust healthcare infrastructure, facilitating the adoption of advanced genetic testing technologies. Government initiatives like the Cancer Moonshot program promote funding for cancer research, enhancing access to genetic testing. Additionally, the high prevalence of cancer and growing public awareness regarding hereditary risks further drive demand for these services. These elements combined make North America a critical market for cancer-focused genetic testing. 

Asia Pacific is expected to grow at the fastest CAGR growth of the global cancer-focused genetic testing service market during the forecast period.  The increasing incidence of cancer, advanced genetic testing technologies, and growing public awareness of the advantages of early detection. Governments are encouraging cancer screening and diagnostic programs, enhancing their healthcare infrastructure, and investing in research and development to introduce innovative diagnostic solutions. Incidences of cancer in Asia are on the rise according to the National Cancer Institute. The estimated number of new cases per year may exceed 5 million by 2030. With the ever-increasing frequency and innovation of genetic testing technologies, the Asia region offers a significant opportunity for rapid market expansion.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global cancer-focused genetic testing service market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• The Johns Hopkins Hospital
• Bridgeport Hospital
• Greenwich Hospital
• Lawrence Memorial Hospital
• Westerly Hospital
• Yale New Haven Hospital
• Cleveland Clinic
• Fortis Healthcare
• KIMS Hospitals
• Rush University Medical Center
• Northeast Medical Group
• Others

Key Market Developments

• In January 2024, Important approval from the European Commission-the Roche Tecentriq SC- was gained in a step toward accessibility of the treatment. Also, QIAGEN Digital Insights launched an enhanced next-generation sequencing method of detecting somatic mutations for better diagnostics of cancer.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global cancer-focused genetic testing service market based on the below-mentioned segments: 

Global Cancer-focused Genetic Testing Service Market, By Test Type

• Chromosome Testing
• DNA Testing
• Direct DNA Testing
• Indirect DNA Testing
• Biochemical Genetic Testing

Global Cancer-focused Genetic Testing Service Market, By Cancer Type

• Breast Cancer
• Colorectal Cancer
• Lung Cancer
• Bladder Cancer
• Kidney Cancer
• Other

Global Cancer-focused Genetic Testing Service Market, By End-user

• Hospitals and Clinics
• Diagnostic Laboratories
• Specialty Cancer Clinics

Global Cancer-focused Genetic Testing Service Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa