The Genomics In Cancer Care Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Genomics In Cancer Care Global Market Report 2024, The genomics in cancer care market size has grown rapidly in recent years. It will grow from $15.08 billion in 2023 to $17.79 billion in 2024 at a compound annual growth rate (CAGR) of 18.0%. The growth in the historic period can be attributed to early research and development, development of companion diagnostics, ethical and legal frameworks, data standardization and interpretation, initial market penetration..
The genomics in cancer care market size is expected to see rapid growth in the next few years. It will grow to $33.28 billion in 2028 at a compound annual growth rate (CAGR) of 17.0%. The growth in the forecast period can be attributed to increasing prevalence of cancer, advancements in data analytics, market expansion in emerging economies, genomic data privacy and security, improving healthcare infrastructure.. Major trends in the forecast period include technological advancments, personalized medicine, reduced costs of genomic sequencing, regulatory support and guidelines, patient awareness and demand..
Growing demand for cancer diagnostics is expected to propel genomics in the cancer care market. Cancer diagnostics refers to identifying the right tumor kind, location, extent, and stage by tests and procedures confirming the disease’s presence. Genomics in cancer care helps in determining a suitable treatment plan for cancer patients by recognizing their genetic backgrounds. For instance, in January 2021, according to the data published in ACS Journals, a US-based cancer journal for clinicians, a total of 1.8 million new cancer cases were diagnosed in the United States. Furthermore, in September 2020, the National Cancer Institute, a US-based national health institute, reported that the annual incidence of new cancer cases was 442.4 per 100,000 men and women. Therefore, the growing demand for cancer diagnostics is expected to drive genomics in the cancer care market.
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The genomics in cancer care market covered in this report is segmented –
1) By Product Type: Instruments, Consumables, Services
2) By Technology: PCR (Polymerase Chain Reaction), MicroArrays, Genome Sequencing, Other Technologies
3) By Application: Diagnostics, Personalized Medicine, Drug Discovery And Development, Research
4) By End-user: Hospitals, Government Institutes, Research Facilities
Technological advancement is a key trend gaining popularity in genomics in the cancer care market. Major market players are concentrating on creating innovative next-generation sequencing technologies to strengthen their position in the market. For instance, in December 2021, Personalis, Inc., a US-based provider of genomic sequencing and analytics solutions, launched NeXT Personal. This next-generation liquid biopsy assay considers the patient’s tumor to identify and measure residual molecular disease (MRD) and cancer recurrence. It is a robust tumor-informed liquid biopsy assay that provide industry-leading MRD sensitivity in the range of 1-3 parts per million (PPM), representing a 10X-100X improvement over other available methods. This predictive biomarker extends existing tumor-informed MRD assays by simultaneously identifying and measuring clinically relevant mutations in circulating tumor DNA (ctDNA) that would one day be used to assist direct therapy when cancer is detected.
The genomics in cancer care market report table of contents includes:
- Executive Summary
- Genomics In Cancer Care Market Characteristics
- Genomics In Cancer Care Market Trends And Strategies
- Genomics In Cancer Care Market – Macro Economic Scenario
- Global Genomics In Cancer Care Market Size and Growth
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- Global Genomics In Cancer Care Market Competitive Benchmarking
- Global Genomics In Cancer Care Market Competitive Dashboard
- Key Mergers And Acquisitions In The Genomics In Cancer Care Market
- Genomics In Cancer Care Market Future Outlook and Potential Analysis
- Appendix
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