The minimal residual disease testing market size is expected to advance at a CAGR of 15.1% during 2022–2030, to reach USD 3,570.1 million by 2030.
This is ascribed to the rapid increase in the number of cancer patients, especially those with hematologic malignancies and solid tumors. Additionally, the growing consumer awareness of tailored therapy, technological advancements in diagnostics and therapies due to the increasing R&D investment, and rising disposable income in emerging economies are driving the market growth. Moreover, the government awareness programs revolving about these illnesses will eventually help in the market expansion over the forecast period.
In order to expand the minimal residual disease testing volume, the market players are focusing on novel applications and developing innovative diagnostic tests, by raising their research funding.
Multiple research studies are utilizing individuals’ genetic characteristics for potent treatment. For instance, in February 2022, Invitae Corporation started to produce real-world data on personalized minimal residual disease testing across various tumor types. The Personalized Cancer Monitoring (PCM) minimal residual disease test, which serves as the data source, offers a tool for identifying early cancer relapse and assisting in treatment. In addition, in April 2020, Invitae introduced the RaDaR assay, which is a multi-tumor, personalized blood test to track residual diseases and cancer recurrence with high sensitivity in the plasma samples of patients previously diagnosed with cancer.
Furthermore, companies are competing globally for improving testing and detection results and focusing more on disease-specific and tailored diagnostic kits. In addition, the favorable government and private-sector initiatives for expanding the adoption of NGS, technological advancements in cloud computing and data integration, and easy access to a technologically advanced healthcare research framework are all increasing the market growth potential.
The PCR technology category dominates the market. The key factors driving the growth in the usage of this technology are the increasing incidence of cancer globally, expanding applications of this technology in drug development, clinical procedures, and precision medicine, and advancements in it.
With the use of the PCR technology, small amounts of either the DNA or RNA can be amplified and used for the identification of malignant cells, based on their characteristic genetic abnormalities, such as mutations or chromosomal changes. As a result, it becomes easier to detect an extremely small number of cancer cells.
The Asia-Pacific region is expected to grow with a CAGR of about 17% during the forecast period. This is attributed to the presence of key players in the minimal residual disease testing market of this region. Additionally, the rising population of the elderly, escalating per capita health expenditure, booming incidence of hematologic cancers, and improving healthcare infrastructure are offering growth opportunities in this region.
The growth in the revenue of the Asia-Pacific market is also influenced by the rising number of surgeries due to the changing lifestyles, increasing number of hospitals and ambulatory care centers, and increasing burden of chronic diseases and inflammation in the body. In addition, the regional market is expected to benefit from the rising popularity of personalized medicine for better outcomes.
The most-significant minimal residual disease testing market players are Adaptive Biotechnologies Corporation, F. Hoffmann-La Roche Ltd., Cergentis B.V., Bio-Rad Laboratories Inc., ARUP Laboratories, Laboratory Corporation of America Holdings, Guardant Health Inc., Sysmex Corporation, Mission Bio Inc., Natera Inc., and NeoGenomics Laboratories Inc.