28 Jul 2020
Posted in Medical Devices
PanSeer blood test likely to propel within cancer diagnostic market, says GlobalData
The development of PanSeer will undoubtedly boost the cancer diagnostic market, as the blood test will not only attract patients already exhibiting symptoms of various cancers but also those who suspect to develop cancer in the near future. As cancer is the second leading cause of death globally according to the World Health Organization (WHO), the ability to diagnose it accurately and at its earliest stages is critical to prevent it from developing uncontrollably, says GlobalData, a leading data and analytics company.
Brian Hicks, Medical Devices Analyst at GlobalData, comments:“What makes PanSeer particularly interesting is that it is among the few blood tests that detects circulating tumor DNA (ctDNA) in the bloodstream as the biomarker, which is a type of DNA that is specifically produced by cancerous cells. While detection of ctDNA in early stage cancer patients has typically resulted in low positive rates in other blood tests, Chen et al. report in their Nature Communications paper that PanSeer’s detection rate in asymptomatic individuals who were later diagnosed was 95%. If this impressive detection rate can be observed in future longitudinal studies, the potential to break into the diagnostic market is surely imminent.
“GlobalData projects the global market value of cancer diagnostic tests to grow to nearly $2 billion at a compound annual growth rate (CAGR) of 13.2% by 2025. Provided PanSeer undergoes further clinical validity tests for its safety and accuracy to gain FDA approval, it will most likely become a key additional player in the cancer diagnostic market.”