by Minimal residual disease testing provides an accurate, early and inexpensive solution for monitoring cancer progression and treatment responses in patients.
The global minimal residual disease testing market is estimated to be valued at US$ 4.97 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the minimal residual disease testing market are Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche Ltd, Guardant Health, Inc., Adaptive Biotechnologies, Invitae Corporation, ASURAGEN, INC., Invivoscribe, Inc., Laboratory Corporation of America Holdings, Natera, Inc., Sysmex Inostics, Inc., Amgen Inc., FOUNDATION MEDICINE, INC., Sebia, and Myriad Genetics, Inc. The growing incidence of cancer cases globally is expected to drive the demand for minimal residual disease testing solutions. Personalized cancer treatment approaches require accurate disease monitoring solutions such as minimal residual disease testing to decide the right therapy. With increasing research conducted on cancer recurrence and treatments, medical professionals are relying more on minimal residual disease testing to supplement other disease monitoring methods.
Market key trends
The rising trend of personalized cancer care is a key driver for the Minimal Residual Disease Testing Market Size. Customized treatment approaches require in-depth analysis of cancer at the molecular level to maximize treatment effectiveness. Minimal residual disease testing provides detailed insights on cancer cells that persist post-therapy and helps doctors assess prognosis. This allows physicians to tailor subsequent treatment regimens based on disease persistence. Ongoing technological advancements are also enabling the development of sensitive assays that can detect cancer markers at very low levels, aiding early detection of cancer relapse.
Porter’s Analysis
Threat of new entrants: Minimal Residual Disease Testing require high investments in R&D to develop precise and accurate testing methodologies. Regulations also pose barriers for new companies.
Bargaining power of buyers: Buyers have moderate bargaining power as there exist few alternative testing solutions and switching costs are also moderate.
Bargaining power of suppliers: Suppliers of components, equipment and reagents have moderate bargaining power as Minimal Residual Disease Testing companies rely on few technology suppliers and can switch suppliers at moderate costs.
Threat of new substitutes: No direct substitutes currently exist for Minimal Residual Disease Testing and substitutes are unlikely to emerge in near future due to technological complexity.
Competitive rivalry: The Minimal Residual Disease Testing market is highly competitive with presence of few large players. Companies compete based on technology innovation, marketing efforts and geographic expansion.
Geographical Regions
North America dominated the global market with highest market share in terms of value in 2024 due to growing adoption of MRD testing services, presence of leading market players and availability of reimbursements. Asia Pacific is expected to be the fastest growing region during the forecast period supported by increasing healthcare spending, rising cancer incidence, improving access to diagnostics and developmental activities by market players.
The geographical region concentrated in terms of value for Minimal Residual Disease Testing market in 2024 was North America followed by Europe due to increasing cancer prevalence, developed healthcare infrastructure and availability of favorable reimbursement policies for drug development and disease monitoring. The fastest growing region for the Minimal Residual Disease Testing market during the forecast period from 2024 to 2031 is projected to be Asia Pacific.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
