The Emerging Market for Molecular Cancer Testing

3min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

The addressable market for molecular cancer testing just in the US is close to about 95 billion. We think that over the next 50 years or so, we're going to see another tremendous improvement in cancer care. And some of this definitely is going to be driven by improved therapeutics, so better medicines. But a big part of it too was actually because our diagnostics and our ability to detect cancer earlier when it's more treatable are improving rapidly.

Welcome to the Big Ideas Monday Miniseries, brought to you by the For Your Innovation Podcast.

Big Ideas is meant to enlighten investors on the long-term impact of innovation. This annual research report seeks to highlight the technological breakthroughs evolving today and creating the potential for super-exponential growth tomorrow.

We believe that innovation is taking off now, corroborating our original research and boosting our confidence that ARK’s strategies are on the right side of change.

To learn more, view Big Ideas 2023.

This week’s Big Ideas Monday Mini Episode focuses on Molecular Diagnostics. Next-generation sequencing (NGS) costs have collapsed, making molecular diagnostic tests more feasible and turbocharging our understanding of tumor biology.[1]

By leveraging artificial intelligence (AI), cancer diagnostics labs have created less invasive tests like liquid biopsies to supplement tissue biopsies.[2]

As proof of clinical utility accumulates, ARK estimates that the total addressable market (TAM) for molecular cancer diagnostic tests in the US is ~$95 billion, its revenue increasing more than 20% annually during the next five to ten years, from ~$5 billion in 2022 to $24 billion in 2030. Moreover, the collective enterprise value of molecular cancer testing companies should expand at a similar rate from ~$30 billion in 2022 to $145 billion in 2030.

Wach the video version here.