Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) — The “Asia-Pacific Multicancer Screening Market – Analysis and Forecast, 2023-2032” report has been added to ResearchAndMarkets.com’s offering.
As of 2022, the Asia-Pacific multicancer screening market was valued at $0.27 billion and is expected to attain a value of $1.40 billion by 2032. The rising incidence of cancer and growing use of liquid biopsy testing are anticipated to fuel market expansion for multicancer screening in Asia-Pacific.
- Market Drivers
- Early Detection of Cancer Leads to Higher Survival Chances and Better Treatment
- Increasing Popularity of Liquid Biopsy Leading to Easier Screening
- Reduced Treatment Cost Due to Earlier Cancer Detection
- Market Challenges
- Lack of Awareness About the Multicancer Screening Tests
- Too Costly to Be Used as Preventive Care
- Market Opportunities
- Robust Pipeline of Multicancer Screening Tests Poised to Revolutionize Cancer Diagnosis
- New Biomarkers Being Discovered Regularly
The market for multicancer screening in Asia-Pacific (APAC) is expected to develop significantly as the area concentrates on improving healthcare infrastructure and tackling the increased incidence of different malignancies. The practice of multicancer screening, which is the simultaneous detection of numerous cancer types by sophisticated diagnostic techniques, is becoming more and more popular throughout Asia-Pacific as people become more aware of the critical role that early detection plays in enhancing treatment outcomes.
The market is being pushed by increasing initiatives for cancer prevention and control, an aging population, and technical breakthroughs in screening technologies. The multicancer screening market is growing as a result of governments and healthcare organizations in the Asia-Pacific area placing a strong emphasis on the adoption of comprehensive cancer screening programs. The market for APAC multicancer screening is expected to grow as demand increases for more accessible and precise cancer diagnosis.
Segmentation 1: by Country
- South Korea
In 2021, China was the leading contributor to the Asia-Pacific multicancer screening market, with a market share of 32.64%. Japan is the second-largest contributor to the Asia-Pacific multicancer screening market.
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts, analyzing company coverage, product portfolio, and market penetration.
Some of the prominent names established in this market are:
- Burning Rock DX
- Genecast Biotechnology Co. Ltd.
- Konica Minolta, Inc. (Ambry Genetics)
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|Estimated Market Value (USD) in 2023
|Forecasted Market Value (USD) by 2032
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- Asia-Pacific Multicancer Screening Market