(Estimated Budget Source)
Through leveraging applications of molecular cancer diagnostics and as cited from Ark’s Big Ideas 2023, the estimated total addressable market for molecular cancer testing in the US is around $95 billion, with the opportunity to increase revenue by 20% annually over the next 5-10yrs ($5 billion in 2022 to $24 billion in 2030). The enterprise sector should expand from $30 billion in 2022 to $145 billion in 2030. (Estimated Budget Source - Ark's Big Ideas 2023 pp 86,95)
Source - Ark Investment Management LLC, 2023 (Big Ideas 2023, pp 95)
**(MCED testing includes liquid biopsies)
As mentioned, MCED tests can screen for cancer based on ctDNA and CTC levels in one’s bloodstream. By utilizing current financial data, national (i.e. across the United States of America) reimbursement of these tests could help reduce cancer mortality by 15%. Since the cost-of-goods-sold (COGS) regarding MCED tests has decreased by >90% over the past 5yrs, companies can collect more significant profit margins. This positive growth directs consumers to more affordable and reliable MCED testing solutions (i.e. $500 reimbursement price).
Source - Ark Investment Management LLC, 2023 (Big Ideas 2023, pp91)