Genetic Tests Could Bring a $51-Billion Opportunity to the US, Experts Say
: Experts say genetic tests could turn into a $51-billion market within the next couple of years, especially that, according to reports, pharmaceutical firms are currently developing this 'new market of genetic tests.'
Genetic Tests could turn into a $51-billion market within the next couple of years. This is what experts say, especially that, according to reports, pharmaceutical firms like Roche, Exact Science, Natera, and Guardant Health are currently developing this new market of genetic tests.
Some of these tests even started to hit the market six years back. Researchers explain that traditional testing needs invasive, not to mention, costly samples of tissue.
However, these experts claim they are approaching a future in which a blood draw will specify all the things there is to find out about cancer.
Experts have also said, blood-testing revolution is already happening. To date, it costs approximately $6 billion and comprises a series of blood tests launched over the past ten years for therapy options.
Such tests determine the mutations of tumor particular to an individual's cancer. Consequently, doctors can then find an appropriate therapy that can match a patient.
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The $51-Billion Opportunity
However, according to Max Masucci, an analyst at the Canaccord Genuity, genetics firms are just scraping the surface of what is possible to be a massive $51-billion opportunity. Masucci said this, referring to a presentation by Guardant Health.
According to reports, a single blood test available for patients in the latter part of this year can identify cancerous cells before clustering to form a mass.
The said test, a product of Natera, observes if there is a recurrence of colon cancer. Relatively, Guardant Health said it is hoping to follow another blood test that finds the recurrence of breast, ovarian, colon, and lung cancer.
The test of Natera, on the other hand, is already being utilized for clinical studies. However, when it formally presents to patients for the actual application, it is expected to uncover another $15-billion annual market in the United States.
The said approximation is grounded on the number of cancer survivors who reside in the US, who could feasibly receive a genetic test for the said severe condition each year.
Other tests, Masucci explained, will examine asymptomatic cancer patients. That market the analyst added will cost $30 billion annually in the US, and he is looking forward to the opening of that window in 2023.
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Stool Samples for Screening
To conduct genetic tests for cancer, Exact Sciences, in 2014, did not use blood. Instead, for its solon cancer screening tool, the company used stool samples.
Cologuard, the specific product, gained approval from the Food and Drug Administration in 2014 after approximately 38 months of testing to verify its utility in screening asymptomatic cancer patients.
At present, there's the at-home test kit for colon cancer considered a substitute for patients who are apprehensive about going through a colonoscopy.
According to analysts, this particular product offers a roadmap for blood tests in examining asymptomatic patients. Primarily, it works by searching for DNA markers linked to colon cancer in the stool.
Incidentally, the American Cancer Society recently recommended regular screening for colon cancer from age 45.
According to Kevin Conroy, Chief Executive of Exact Sciences, up to 50 million Americans are falling into that particular age group who don't go through screening. It's the company's goal to make screening inevitable.
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