Report ID: 10082393 |
Published Date: 21 Mar 2025 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
Global Genomics in Cancer Care Market Highlights Over 2022- 2031
The global genomics in cancer care market generated a revenue of about USD 27 billion in the year of 2021. The market is estimated to grow at a CAGR of ~22% over the forecast period, i.e., 2022-2031. The growth of the market can be attributed to the increasing number of cases of cancer, awareness amongst cancer patients about early disease diagnosis, and advancement in biotechnology & pharmaceuticals. Additionally, continuous investment on research and developments by the biotechnology & pharmaceutical companies is expected to add in the market growth. According to the data given by National Cancer Institute (NCI), in the year 2018, 18.1 million cancer cases were reported along with 9.5 million cancer related deaths worldwide.
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Genomics plays an important role in medicine and drug development for cancer. Identifying Cancer-causing virus mutant is necessary, and the study of genomes help in the achievement of this identification. Moreover, the detection of cancer at an early stage increases the chances for survival. Hence, early diagnosis and screenings are the important parameters responsible for detection of the disease.
The covid-19 pandemic has affected almost every segment of the market poorly. Ever since the pandemic began, the complete healthcare sector has changed. Most of the government and private companies were occupied in researching the mutative forms of the covid-19 virus and finding an effective course of vaccination to prevent the increasing number of cases. This shift in focus of the organizations from the main streamline of diseases to covid-19 has led to a drop in the growth of the cancer care market.
The global genomics in the cancer care market is segmented by type, application, technology, and by end users. Based on technology, the market is divided into microarray, genome sequencing, PCR, and others. Among these segments, the genome sequencing segment is expected to hold the largest share in the market by the end of 2031 and is expected to grow at a steady CAGR over the forecast period. The growth of the genome sequencing segment can be attributed to the advancement in modern technology and the constant use of genomes in diagnostic setup. On the other hand, the PCR segment and the microarrays segment are also anticipated to witness rapid growth, as a result of the introduction of advanced instruments in the field of biotechnology and medical science.
Global Genomics in Cancer Care Market Regional Synopsis
Regionally, the global genomics in the cancer care market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the North America region witnessed modest growth in the year of 2021 owing to the availability of advanced technologies and well-established healthcare facilities. On the other hand, the market in the Asia Pacific region is projected to grow at the highest CAGR over the forecast period. The growth of the market in this region can be attributed to the improvement in the infrastructure of healthcare departments and the increasing number of cancer patients. UNFPA states that the Asia Pacific region contributes to 60% of the world’s population, wherein India and China are the highly populous countries in this region.
Market Segmentation
Our in-depth analysis of the global genomics in cancer care market includes the following segments:
By Type
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Consumables
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Services
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Instruments
By Application
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Personalized Medicines
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Diagnostics
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Drug Discovery & Development
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Others
By Technology
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Microarray
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Genome Sequencing
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Polymerase Chain Reaction (PCR)
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Others
By End Users
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Hospitals
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Pharmaceuticals & Biotechnology
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Research Institutes
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Others
Growth Drivers and Challenges Impacting the Growth of the Genomics in Cancer Care Market
Growth Drivers
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Increase in prevalence of cancer and advancements in biotechnology
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Increase in government aided genome projects
Challenges
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High price of genomics devices
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Lack of trained professionals
Key Companies Dominating the Global Genomics in Cancer Care Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global genomics in cancer care market that are included in our report are Abbott, Agilent Technologies, Inc., QIAGEN, F. Hoffmann-La Roche AG, Bio-Rad Laboratories, Inc., Illumina, Inc., General Electric, PerkinElmer Inc., and BGI Genomics Co., Ltd. among others.
Latest Developments in the Global Genomics in Cancer Care Market:
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05 March 2021: Bio-Rad Laboratories, Inc. announced that it has partnered with Roche. According to the agreement, the customers of the latter would be able to have access to the portfolio of InteliQ products of Bio-Rad, as well as the laboratory data management solutions of the company, known as Unity QC.
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10 January 2022: Illumina, Inc. announced that it has entered into a multi-year agreement with Nashville Biosciences, LLC for accelerating the development of medicines through large-scale genomics. The collaboration between the companies is also aimed at establishing a preeminent clinic-genomic resource for Illumina.
Key Reasons to Buy Our Report
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The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
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It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
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The report includes detailed company profiles of the major players dominating the market.
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We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
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We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.
Frequently Asked Question
The market is segmented by type, application, technology, end users and by region.
The genome sequencing segment is anticipated to hold largest market size in value and is estimated grow at a steady CAGR over the forecast period and display significant growth opportunities.
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Report ID: 10082393 |
Published Date: 21 Mar 2025 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
