Cancer has been the cause of almost 10 million deaths globally in 2018. Out of these, hereditary genetic mutations are the cause of over 5–10% of all cancers globally. Experts have related mutations in particular genes with more than 50 hereditary cancer syndromes.
The increasing prevalence of breast cancer, lung cancer among others in the world has become a huge concern driving the need for early detection. The increasing prevalence of cancer has also resulted the growth of the hereditary cancer testing.
“Integrating all aspects of cancer genetics can transform care for patients and the flexibility that comes from both centralized and decentralized capabilities will uniquely position Invitae to meet the needs of customers worldwide,” says Sean George, Ph.D., co-founder and chief executive officer of Invitae, a genetics company.
Currently, a limited population is aware about the genetic testing of various metabolic liabilities of cancer. But, awareness regarding hereditary cancer conditions is growing due to various efforts made by the governments. Since 2010, public medical, health, and scientific communities have worked on spreading awareness about the hereditary cancer conditions, including cancer risk, family history, and genetic testing for inherited cancer liability.
According to a report by The Insight Partners, the global hereditary cancer testing market was USD 3,967.74 Mn in 2018 and is predicted to reach USD 9,840.52 Mn by 2027, with a CAGR of 11.1%.
Asia Pacific is the fastest growing geographic market and is expected to be the significant revenue contributor. Several technological advancements in healthcare with advanced hereditary cancer screening are serving the need for rising hereditary cancer prevalence in the region.
This has led to the interest of international players in China and India. With the support if the government in China healthcare infrastructure is advancing. This has made Asia-Pacific region a huge potential for the hereditary cancer testing market players to grow.
But in recent years, there have been limited developments in the hereditary cancer testing. There is an increase in growth strategies such as approvals, collaborations, and partnerships. The recent one being this week where Invitae and ArcherDX entered into a definitive agreement under which Invitae will combine with ArcherDX to create a genetics leader with unrivaled breadth and scale in cancer genetics and precision oncology. In February 2019, where Hologic, Inc. received the CE Mark to the LOCalizer wireless radio frequency identification (RFID) breast lesion localization system. Also in October 2018, Cancer Genetics entered into collaboration with Cellaria, LLC to manufacture precision medicine tools and platform technologies to support new cancer therapeutics.