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The Surge Of Population Screening In Addressing The Growing Cancer Burden: Key Factor Driving The Growth In The Population Screening Market
Population Screening
What Is the Expected Population Screening Market Size During the Forecast Period?
The market for population screening has seen robust growth in the past few years. It is anticipated to expand from a value of $29.31 billion in 2024 to $31.46 billion in 2025, illustrating a compound annual growth rate (CAGR) of 7.3%. The momentum during the historic period was facilitated by initiatives aiming at disease prevention, implementation of government healthcare policies, escalating healthcare expenses, and heightened awareness about diseases.
The population screening market is anticipated to witness substantial expansion in the coming years, with its size projected to reach $41.51 billion by 2029, growing at a compound annual growth rate (CAGR) of 7.2%. The projected growth during the forecast period can be credited to factors such as increasing emphasis on personalized medicine, an ageing population coupled with chronic diseases, the integration of artificial intelligence and data analytics, as well as the widened accessibility of screening. The forecast period is expected to see key trends like advancements in medical technology, precision screening and genomics, telehealth and remote screening, panels for multi-disease screening, and the emphasis on health equity and accessibility.
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What Are the High-Growth Segments in the Population Screening Market?
The population screening market covered in this report is segmented -
1) By Product: Hardware Equipment, Testing Or Lab, Analytics Or Interpretation
2) By Gender: Male, Female
3) By Age: Ages Less Than 15, 15-65, Ages 65 And Above
4) By Business: Hospitals, Research Institutes, Diagnostic Labs
Subsegments:
1) By Hardware Equipment: Diagnostic Devices, Sample Collection Devices, Imaging Equipment
2) By Testing Or Lab: Laboratory Testing Kits, Point-Of-Care Testing, Blood And Urine Testing Services
3) By Analytics Or Interpretation: Software Solutions For Data Analysis, Interpretation Services, Reporting Tools
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What Key Drivers Are Expected to Influence Future Population Screening Market Growth?
The escalating rates of cancer are anticipated to fuel the expansion of the population screening market in the future. Cancer is a disease where certain cells in the human body multiply erroneously and invade other body parts. Early detection of cancer through population screening enhances its treatability and improves prognosis. As an illustration, data from the American Cancer Society Inc., a US voluntary health organization, showed in January 2023 that the number of cancer-related deaths in 2022 was 608,570 with approximately 1.9 million new cancer incidences, an increase from 606,520 cancer deaths in 2021. Hence, the increasing incidence of cancer is accelerating the growth of the population screening market.
Which Companies Hold the Largest Share Across Different Population Screening Market Segments?
Major companies operating in the population screening market include F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Abbott Laboratories, Siemens Healthineers AG, Quest Diagnostics Incorporated, Eurofins Scientific SE, Agilent Technologies Inc., Sonic Healthcare Limited, Illumina Inc., SYNLAB International GmbH, Quidel Corporation, Bio-Rad Laboratories Inc., Unilabs, Qiagen N.V., Exact Sciences Corporation, ARUP Laboratories Inc., LGC Limited, OPKO Health Inc., Natera Inc., Cerba HealthCare S.A.S, Invitae Corp, Amedes Holding GmbH, Grail, Luminex Corporation, Novogene Co. Ltd., Trinity Biotech, Gene by Gene Ltd., Innova Medical Group Inc., Evoq Technologies LLC, LabPLUS
What Trends Are Driving Growth in The Population Screening Market?
Leading firms in the population screening market are introducing advanced services such as newborn mass screening to promote early detection and enhance the health outcomes of infants. A public health initiative, newborn mass screening involves the testing of newborns for a variety of inborn, metabolic, hormonal, and functional disorders that aren't evident at birth but can result in serious health complications if not treated promptly. To illustrate, Shimadzu Techno-Research Inc., a Japan-based analytical service provider and subsidiary of precision instrument producer Shimadzu Corporation, in May 2024, unveiled a new contract service for expanded newborn mass screening through polymerase chain reaction (PCR) testing. This cutting-edge service will test for severe combined immunodeficiency (SCID), B-cell deficiency (BCD), and spinal muscular atrophy (SMA), conditions that, while affecting only a small number of newborns, demand immediate action upon detection.
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What Are the Emerging Geographies for The Population Screening Market Growth?
North America was the largest region in the population screening market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the population screening market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Population Screening Market?
2. What is the CAGR expected in the Population Screening Market?
3. What Are the Key Innovations Transforming the Population Screening Industry?
4. Which Region Is Leading the Population Screening Market?
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