Minimal Residual Disease Industry - Regional Synopsis
North American Market Statistics
The minimal residual disease market in the North American region is projected to hold the largest revenue share of 42% by the end of 2037. This heightened expansion will be attributed to the rising cases of different kinds of cancers in North America. As cancer cases are on the rise in this region, North America is highly inclining towards minimal residual disease techniques. It is anticipated that there will be 611,720 cancer deaths and 2,001,140 new cancer cases in the US in 2024. Lung cancer continues to be the leading cause of cancer-related mortality in both sexes, with prostate and breast cancers being diagnosed more frequently in men and women, respectively.
The United States and Canada have comparable patterns in the incidence of cancer, which can be attributed to the commonality of risk factors for the disease. Cancers linked to infections have a low incidence, whereas cancers linked to "westernization" of lifestyle have a high incidence. For instance, colorectal cancer incidence is greatest in Northern America among all regions of the world. Therefore, the advancement of the market can be noticed here the most.
APAC Market Analysis
The minimal residual disease market in the APAC region is projected to hold the second-largest share during the forecast period. This relentless advancement will be noticed because of rising investment in the field of screening and the existence of supportive compensation policies. For instance, China's outbound stock of foreign direct investment (FDI) rose 93 times between 2000 and 2021, whereas global FDI stocks expanded by 5.6 times during the same period. The stock of inward Chinese FDI increased dramatically in nations including Australia, Canada, and the United States; inflows peaked in 2016–2017.
Again, plans for a ¥ 10 trillion (USD 75 billion) national endowment fund were presented by Japan in 2021. Its designers claim that fostering innovation and enhancing governance are the goals. All these investments and reimbursement policies in the countries of the APAC region on R&D and the field of screening will further enlarge the market revenue.
