Oncology tests market in Japan to reach $30 million by 2033, predicts GlobalData

New Delhi: The oncology tests market in Japan is projected to reach $30 million by 2033, according to a new forecast by GlobalData, a leading data and analytics company. This growth highlights the increasing demand for advanced diagnostic and monitoring technologies amid the high incidence of cancer in the country, attributed largely to specific dietary habits and elevated cigarette smoking rates.

GlobalData’s research indicates that Japan’s oncology tests market will account for over 33% of the Asia-Pacific (APAC) market in 2024. This substantial market share underscores Japan’s crucial role in the region’s oncology landscape and the escalating importance of innovative diagnostic solutions.

Nandini Nagpal, Medical Devices Analyst at GlobalData, commented, “For cancer patients,  delay in diagnosis and therapeutic follow-up can lead to significant tumor growth and potentially lead to fewer alternatives for effective treatment. Additionally, problems such as low sensitivity and inadequate diagnostic accuracy make standard screening methods, including imaging tests and endoscopic examinations, less effective.”

In a significant development, MiRXES Japan, a subsidiary of the Singapore-based biotech firm MiRXES, has been awarded a grant of up to JPY20 million ($172,000) by the Japan External Trade Organization (JETRO). This grant, part of the “Subsidy for Projects to Stimulate Direct Investment in Japan” program, will fund the establishment of new testing facilities and the transfer of MiRXES’ testing technology to Japan.

MiRXES, in collaboration with Nagawa Pharmaceutical Co., aims to develop and validate a novel non-invasive cancer biomarker screening test. The introduction of MiRXES’ RNA technology to Japanese laboratories will enhance access to the company’s flagship products, GastroClear and LungClear, facilitating early and accurate cancer detection.

“Japan has launched several programs, such as the Basic Plan to Promote Cancer Control Programs, to address the rising cancer incidence. Increasing the number of screening options available will help with early diagnosis, increase screening rates, and eventually improve cancer survival rates and management in Japan,” Nagpal concluded.