The Early Screening Market for Cancer Has Great Potential

01 Development Opportunities for the Cancer Early Screening Industry

The number of cancer patients worldwide is one of the main driving factors for the growth of the cancer diagnosis market. According to the 2020 World Cancer Report released by the International Agency for Research on Cancer (IARC) of the World Health Organization, there were 19.29 million new cancer cases and 9.96 million deaths worldwide in 2020.

There are 4.569 million new cancer cases and 3.003 million deaths in China, accounting for 23.7% and 30.2% of global new cases and deaths, respectively. In 2020, the top ten cancers with new cancer cases in China were: lung cancer 820000, colorectal cancer 560000, gastric cancer 480000, breast cancer 420000, liver cancer 410000, esophageal cancer 320000, thyroid cancer 220000, pancreatic cancer 120000, prostate cancer 120000, and cervical cancer 110000. These ten cancers accounted for 78% of the number of new cancers. In recent years, with the deepening of China's aging population and changes in lifestyle and environment, the incidence rate of cancer has also shown a rising trend. Therefore, early cancer screening has become one of the important tasks in the field of public health, and the cancer early screening industry has also ushered in unprecedented development opportunities.

Top Ten Cancer Types with New Cancer Incidents in China in 2020

02 Methods of Early Tumor Screening

Early screening of tumors refers to the use of fast and simple methods to screen a very small number of high-risk groups for tumors from the population. It can help potential patients detect tumors early and reduce the risk of onset. In the late stage of cancer spread, patients spend twice as much as in the early local stage, which can help avoid the high cost of late stage treatment and has significant health economic implications. At the same time, the probability of early detection, treatment, and recovery for patients is also higher. The early screening technology for cancer in China has gradually achieved a variety of technological means, from traditional tumor marker detection to more advanced gene detection, imaging examination, etc. The application of these new technologies has continuously expanded the scope and accuracy of early cancer screening.

According to ARK's forecast, the total potential market (TAM) for cancer molecular testing in the United States is approximately $95 billion, with revenue growing by over 20% annually over the next five to ten years, from $5 billion in 2022 to $24 billion in 2030. In addition, the total value of cancer molecular testing companies will grow at a similar rate from $30 billion in 2022 to $145 billion by 2030.

In China, cancer screening and early diagnosis and treatment have been included in the national "Healthy China Action" cancer prevention and treatment implementation plan. The plan requires that by 2022 and 2030, the overall 5-year survival rate of cancer in China should not be less than 43.3% and 46.6%, respectively; The awareness rates of core knowledge on cancer prevention and treatment are not less than 70% and 80%, respectively. Integrating cancer prevention and treatment interventions into health plans will help reduce the future burden of cancer, while promoting the development of innovative anti-cancer drugs. A dual approach of "prevention+treatment" can better reduce the burden of cancer.

Although the current penetration rate of cancer screening is relatively low, it is expected to develop rapidly with policy support and the increasing health awareness of the public towards early screening. On the other hand, with the expected improvement of payment environments such as commercial insurance in China, the domestic market space is expected to expand rapidly.