At-Home Cancer Testing Market Overview
According to the latest research by Future Market Insights, At-Home Cancer Testing Market is expected to witness robust growth with 4-5% CAGR during the forecast period from 2021 to 2031. The At-Home Cancer Testing will show growth due to the rising prevalence of cancer globally and an increase in investment to develop at-home cancer testing kits. Therefore, growth at a significantly high CAGR will be expected soon.
What is driving the Demand for At-Home Cancer Testing?
The rising geriatric population and cancer prevalence is driving the at-home cancer screening market. Increasing adoption of at-home screening is anticipated to grow the at-home devices for cancer screening. According to the North American Association of Central Cancer in 2020, 1,806,590 new cancer cases and 606,520 cancer deaths are projected to occur in the United States.
Pre-detection of cancer for prevention and early treatment is leading the market in the forecasted period. At-home testing for colon cancer is anticipated to fuel the market in the forecasted period. It is recommended to have a colorectal diagnosis after 50 years of age.
Also, with increasing demand in the field of diagnosis, the major players and different countries made advances in their research and technology for making the process easy, painless, and rapid. All these factors drive the At-Home Cancer Testing Market significantly during the forecast period from 2021 to 2031.
COVID-19 Likely to Propel the Growth of At-Home Cancer Testing Market
With the outbreak of COVID-19, the world started following social distancing. Social distancing is the most important factor for dropping the cases of COVID-19 and breaking the chain of the virus. Long overshadowed by colonoscopy, stool-based screening tests that patients perform at home are getting a boost as hospitals halted and then curtailed nonemergency procedures to preserve resources and prevent novel coronavirus transmission.
Few market players have launched testing kits to test for colon cancer at home. There has been a drop-off in the physician visiting which has given rise to the need to perform the test at home. Patients don’t need to visit the hospital, diagnostic centre, or clinic for cancer testing.
The U.S. and Canada At-Home Cancer Testing Market Outlook
U.S. and Canada will retain the top position in the market of at-home cancer testing due to the rising prevalence of cancer in the region and increasing adoption of home testing kits.
Colorectal cancer is the second most common cause of cancer death in the United States. According to the American Cancer Society in the U.S. in 2020, 104,610 new cases of colon cancer were detected and 43,340 cases of rectal cancer diagnosed in the US. More than 3000 deaths have been recorded in 2020 due to colorectal cancer.
This rate is higher in patients with age more than 50 years. The high geriatric population will accelerate the at-home cancer testing market. However, some populations need to make aware of the at-home cancer testing availability for early diagnosis. Thus need for home cancer testing is increased significantly.
Europe Demand Outlook for At-Home Cancer Testing
Europe was hit badly by the corvid-19 pandemic in 2020. This makes them focus primarily on their healthcare sector and developing new technologies and adopting new devices for minimizing the discomfort of the population.
According to European Cancer Information System in 2020, 341,419 new cases were recorded with 156,105 deaths. Deaths have been found higher in aged people. The deaths can only be controlled by early diagnosis and treatment.
Therefore, it is important to adopt such methods as At-Home Cancer Testing and self-testing kits to follow the social distancing and avoid gathering of people at hospitals, clinics, and diagnostic labs. This will result in developing the At-Home Cancer Testing demand in Europe during the forecast period.
Who are the Key Manufacturers and Suppliers of At-Home Cancer Testing?
Some of the leading manufacturers and suppliers of At-Home Cancer Testing include
- ELITech Group SAS
- Everlywell, Inc.
- Exact Sciences Corp.
- Laboratory Corporation of America Holdings
- Lepu Medical Technology Co., Ltd.
- GY Highland Biotech LLC
- ulti med Products GmbH
- Abingdon Health Quidel Corporation
These companies followed certain strategies like a partnership, new product launch and approval, mergers and acquisitions to gain a good position in the market. For instance, in August 2018, Exact Sciences and Pfizer announced an agreement through 2021 to co-promote Cologuard.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
By Cancer Type:
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online pharmacies
- North America
- Latin America
- South Asia
- East Asia