Global Genomics in Cancer Care Market Anticipated to Achieve USD 72.87 Billion By 2032, at 16.3% CAGR: Polaris Market Research
[115+ Pages Research Study] According to Polaris Market Research, the global genomics in cancer care market Size & share was valued at USD 16.15 Billion in 2022 and is predicted to increase at a CAGR of 16.3%, to reach USD 72.87 Billion By 2032. Instruments hold the major share in the market owing to the rapid technological advancements and continuous efforts by the manufacturers for providing digitalization in the instruments for easy use. Some of the key players covered are Agilent Technologies, Roche Diagnostics, Beckman Coulter, Illumina, Inc., Affymetrix, Cancer Genetic Inc., Bio-Rad Labs, Pacific Bio-science and others.
New York, NY, March 22, 2023 (GLOBE NEWSWIRE) — Polaris Market Research has published a new research report titled “Genomics in Cancer Care Market Share, Size, Trends, Industry Analysis Report, By Product (Consumable, Instrument and Services); By Technology; By Application; By End-use; By Region; Segment Forecast, 2023 – 2032” in its research database.
“According to the latest research analysis, the global genomics in cancer care market size/share is anticipated to be valued at approximately USD 16.15 Billion in 20222 and is projected to hit a revenue of around USD 72.87 Billion By 2032, at a CAGR of around 16.3% between 2023 and 2032.”
What is Genomics in Cancer Care? How Big is Genomics in Cancer Care Market Size & Share?
Progressive genomic testing is designed to assist in recognizing the DNA variations that might be propelling the growth of a particular tumor. Information about genomic mutations distinctive to individual cancer may help doctors identify cures designed to aim for those mutations. The rapidly rising demand for genomics in cancer care market can be attributed to doctors recommending the tests to patients whose cancer did not adequately respond to a treatment plan advised for their tumor, whether it was particularly chemotherapy regimen, radiation, or surgery.
Increasing demand for diagnostics, together with the obtainability of technologically progressive and affordable diagnostic technology, to fuel the market growth in the coming years. Growing investment in the biotech and pharmaceutical industry and growing R&D activities for the advancement of new treatment therapies are the elements causing the market’s growth. Also, increased demand for customized medicines is anticipated to drive the demand over the forecast period.
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Our Sample Report May Includes:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 115+ Pages Research Report (Inclusion of Updated Research).
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- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Key data covered in the market report
- Industry drivers, restraints, and opportunities covered in the study.
- Natural perspective on the market performance.
- Recent industry trends and developments.
- Competitive landscape and strategies of key players.
- Potential and niche segments and regions exhibiting promising growth covered.
Some of the Top Market Players Are:
- Agilent Technologies
- Roche Diagnostics
- Beckman Coulter
- Illumina Inc.
- Cancer Genetic Inc.
- Bio-Rad Labs
- Pacific Bio-science
- Sigma Aldrich Corporation
- GE Healthcare
- Quest Diagnostics
- Abbott Laboratories
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Key factors driving market growth
- Cancer cases impacting the geriatric population to push the market
As per the global health and aging report published by World Health Organization, the number of people aged 65 years or greater is anticipated to escalate from a speculated 524 million in 2010 to about 1.5 billion by 2050, with a notable percentage of increase in emerging economies. The genomics in cancer care market size is expanding due to primary chronic diseases such as cancer having the most notable impact on the geriatric population, particularly in high-income countries.
The rise in cancer and biotechnological progressions linked to cancer care is a notable element in pushing the market growth. The genomics in cancer care market sales is soaring as the growing incidences of cancer cases are expected to drive the need for higher diagnostics and treatment alternatives for cancer which is supposed to boost the market.
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Recent trends influencing the market
Enhanced patient outcomes due to clinical benefits by assays to drive the market
- Several studies have shown that genomics-based assays specifically are growingly utilized to usher the selection of the most acceptable targeted therapies for patients as per the genomes of their tumor and non-malignant cells. These assays offer a clinical benefit concerning enhanced patient outcomes.
- Several genomic applications are presently being diligently developed and will ultimately increase the therapeutic value of genomic assays, as should be anticipated in this speedily advancing field. The formation and augmentation of tests intended to profile DNA secluded from samples obtained by marginally invasive techniques, such as sampling of blood plasma and other physiological fluids, is a quintessential example.
- The instruments segment holds the major market share
Based on product, the instruments segment holds the major market share. The genomics in cancer care market demand is on the rise due to growing technological advancements and developments that reinforce the increasing digitalization of several PCR instruments for analyzing genome sequencing.
- Genomic sequencing segment to grow at a faster rate
Based on technology, the genomic sequencing segment is to grow faster. The genomics in cancer care market trends includes precise diagnosis and affordable treatment that provides a potent result. Correspondingly, this technique assists in locating contemporary drugs such as single nucleotide variants, structural variants, and copy number alterations.
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Genomics in Cancer Care Market: Report Scope
|Revenue forecast in 2032||USD 72.87 Billion|
|Market size value in 2023||USD 18.75 Billion|
|Expected CAGR Growth||16.3% from 2023 – 2032|
|Forecast Year||2023 – 2032|
|Top Market Players||Agilent Technologies, Roche Diagnostics, Beckman Coulter, Illumina, Inc., Affymetrix, Cancer Genetic Inc., Bio-Rad Labs, Pacific Bio-science, Sigma Aldrich Corporation, GE Healthcare, Quest Diagnostics, Abbott Laboratories, PerkinElmer, and Luminex.|
|Segments Covered||By Product, By Technology, By Application, By End-use, By Region|
|Customization Options||Customized purchase options are available to meet any research needs. Explore customized purchase options|
- The increasing number of patients getting cancer propels the North American market
North America held the largest genomics in cancer care market share due to the increasing number of patients getting cancer, growing government and biopharmaceutical company funding for advancing new drugs, and the attendance of key players in this region.
Asia Pacific is anticipated to grow faster because of the advancing healthcare infrastructures of the countries such as India and China. Further, enhanced healthcare infrastructure, ceaseless government support, and primary market opportunities have additionally caused notable market opportunities for the APAC market.
Browse the Detail Report “Genomics in Cancer Care Market Share, Size, Trends, Industry Analysis Report, By Product (Consumable, Instrument and Services); By Technology; By Application; By End-use; By Region; Segment Forecast, 2023 – 2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/genomics-in-cancer-care-market
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- In February 2020, Nebula Genomic initiated a product offering genome sequencing at USD 299.
- In July 2020, e TruSight software suite, which provides a ready-to-use infrastructure for whole genome sequencing that might be utilized to detect genetic illness, was initiated by Illumina, Inc.
Frequently Asked Questions
- Who are the crucial companies operating the market?
- What are the major industry norms influencing the development of the industry?
- Which is the most propelling country in the industry?
- Which application or product type will obtain progressive development possibilities during the forecast period?
- What is the expected growth rate of the market during the foreseen period?
Polaris Market Research has segmented the Genomics in Cancer Care market report based on product, technology, application, end-use, and region:
By Product Outlook
By Technology Outlook
- Genome sequencing
- Microarray Nucleic Acid Extraction and Purification
By Application Outlook
- Personalized Medicines
- Drug Delivery
By End Use Outlook
- Research Institutes
- Academic Research
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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About Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.
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