GENOMIC CANCER TESTING MARKET ANALYSIS

Genomic Cancer Testing Market, By Test Type (Genomic Profiling Tests, Liquid Biopsy Tests, Companion Diagnostic Tests, Pharmacogenomic Tests, Hereditary Cancer Tests, Other specialized genomic tests), By Cancer Type (Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Ovarian Cancer, Melanoma, Leukemia, Lymphoma, Other specific cancer types), By Technology (Next-Generation Sequencing, Polymerase Chain Reaction, Fluorescence In Situ Hybridization, Microarray, Immunohistochemistry, Other genomic testing technologies), By End-User (Hospitals, Diagnostic Laboratories, Academic and Research Institutions, Cancer Centers, Other healthcare providers), By Biomarker Type (Genetic Biomarkers, Protein Biomarkers, Molecular Biomarkers, Epigenetic Biomarkers), By Service Provider (Diagnostic Laboratories, Biotechnology Companies, Pharmaceutical Companies, Contract Research Organizations), By Application (Targeted Therapy Selection, Disease Monitoring, Prognostic Testing, Companion Diagnostics, Risk Assessment, Pharmacogenomic Testing), By Testing Setting (In-House Testing, Outsourced Testing), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Recent Developments:

New product launches/approval:

In July 2023, Guardant Health, Inc, a leading precision oncology company, announced that it will receive national reimbursement approval from the Japanese Ministry of Health, Labor and Welfare (MHLW), effective July 24, 2023, for its Guardant360 CDx liquid biopsy test for comprehensive genomic profiling (CGP) for patients with advanced or metastatic solid tumor cancers. This announcement follows the regulatory approval of the Guardant360 CDx test by the MHLW in March 2022.
In October 2023, Arima Genomics, a U.S.-based Biotechnology company, and Protean BioDiagnostics, a biotechnology company, formed a joint venture, Aventa Genomics, to launch what the new firm calls Aventa FusionPlus, a next-generation sequencing test for the detection of gene fusions, translocations, and rearrangements across 361 genes from formalin-fixed, paraffin-embedded tumor tissue.
In June 2023, Devyser which develops, manufactures, and sells diagnostic solutions and analysis services to clinical laboratories, announced the launch of two new products, Devyser LynchFAP and Devyser BRCA PALB2. These kits offer efficient, targeted, and confident analysis of genes associated with increased cancer risk, such as those involved in Lynch syndrome, and breast and ovarian cancers.

Acquisition and partnerships:

In January 2022, Illumina, Inc. announced that it had acquired Grail, a leading player in early cancer detection testing. This acquisition positions Illumina and Grail at the forefront of multi-cancer early detection using genomic profiling. The combined entity aims to accelerate the commercial availability of such life-saving tests globally.
In January 2022, Exact Sciences Corp., a molecular diagnostics company, announced that it had acquired PreventionGenetics, a genetic testing laboratory, to complement its advanced cancer diagnostics portfolio and support its entrance into hereditary cancer testing (HCT). PreventionGenetics provides the clinical lab, expertise, and foundational technology necessary to accelerate the availability of HCT and help more patients know their germline risk of cancer and other diseases.
In December 2022, Prenetics Global Limited, a leader in genomic and diagnostic testing, announced that it was acquiring a majority stake in ACT Genomics Holdings Company Limited, an Asia-based genomics company specializing in precision oncology with operations in Hong Kong, Taiwan, Japan, Singapore, Thailand, and in the UK.