Genomics in Cancer Care Market

SKU: DMPH3410 | Last Updated On: Aug 23 2022 | Available Formats

Genomics in Cancer Care Market Expected to reach a high CAGR of 18.00% By 2029: DataM Intelligence

Genomics In Cancer Care Market is segmented By Product (Instruments, Consumables, Services), By Application (Diagnostics, Personalized Medicine, Drug Discovery & Development, Research), By Technology (Genome Sequencing, PCR, Microarray, Nucleic Acid Extraction and Purification), By End User (Hospitals, Clinics, Ambulatory Surgical Centers), By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

Genomics In Cancer Care Market Growth Rate Outlook

Genomics In Cancer Care Market size was valued at USD 26,580.10 million in 2021 and is estimated to reach at a compound annual growth rate (CAGR) of 18.00% over the forecast period 2022 to 2029.

Report Key Highlights:

  1. The consumables application is projected to produce global genomics in cancer care market share of approximately 40% in 2022 owing to its large segment in cancer supervision.
  2. North America controlled the overall industry in terms of revenue share in 2015. An advanced level of consciousness relating to cancer genomics and the rising biotechnology industry are the aspects accrediting to the major market share of the North American region. 
  3. As per the press release published by DataM Intelligence, the Asia-Pacific region is predictable to record substantial growth during the forecast period owing to the booming genomics in cancer care market joined with the attendance of available opportunities, government care, and incessantly emerging healthcare setup.
  4. Genome sequencing is observing substantial development owing to improvements in modern technology and extreme use of genomics in the diagnostic segment.
  5. The growing demand for cost-effective and robust output treatment is inspiring the genomic growth rate in this section.
  6. The factors influencing the global genomics in cancer care market are the increasing research and development, and the growing prevalence of cancer.
  7. The global genomics in cancer care market provides in-depth analysis of the market based on various industry factors such as porter’s five forces, regulatory analysis, reimbursement scenario, pipeline analysis, pricing analysis, etc.

According to the Global Health and Aging statement published by the World Health Organization, the number of individuals aged 65 years or greater is predictable to rise from a predicted 524 million in 2010 to about 1.5 billion by 2050, with an important percentage of an upsurge in developing countries. Primary long-run diseases such as cancer have had the most important effect on the aged population, majorly in high-per capita income economies. Therefore, the rising occurrence of diseases in the rising old age population is predicted to push the growth of the genomics in cancer care market throughout the forecast period 2022-2029.

The increasing research and development are expected to drive the genomics in cancer care market growth

By integrating cancer genetics into diagnostic medicine, higher degrees of precision are reached in the clinical care given to cancer patients. Over the past eight years, parallel or next-generation sequencing (NGS) has been applied to large-scale cancer genomics discovery projects. This work has uncovered a wealth of new knowledge about the underlying genomic factors that influence the development and spread of cancer in various anatomical sites. To improve the clinical care of cancer patients, NGS and different analytical techniques are now being implemented in clinical practice. Numerous studies have shown that genomics-based assays, in particular, are increasingly used to guide the selection of the most suitable targeted therapies for patients according to the genomes of their tumors and nonmalignant cells. These assays provide a clinical benefit in terms of improved patient outcomes.

The potential clinical applicability of genomics-based diagnostics is increased by the potential to inform the use of immunotherapeutic drugs. The application of clinical genomics in cancer treatment is expanding as the usefulness of the assays rises. Numerous genomic applications are currently being actively developed and may eventually increase the therapeutic value of genomic assays, as should be expected in this quickly developing field. The creation and expansion of tests intended to profile DNA isolated from samples obtained by minimally invasive techniques, such as the sampling of blood plasma or other physiological fluids, is a classic example (sputum, urine, or cerebrospinal fluid). Liquid biopsy sampling uses tumor cell-derived DNA to be released into the circulation and other fluids that come into contact with organs when cells die in actively developing tumors.

Limitations associated with genomics in cancer care are expected to hamper the genomics in cancer care market growth

The use of NGS technologies to characterize human tumors has created previously unheard-of opportunities to comprehend the biological underpinnings of various cancer types, create targeted therapies and interventions, find genomic biomarkers of drug response and resistance, and direct clinical decision-making regarding patient care. Furthermore, the characterization of cancer genomes, transcriptomes, and epigenomes has been made possible by the adaptability of NGS assays and the variety of upstream sample preparation procedures.

The clinical interpretation of NGS data is significantly hampered by the algorithmic analysis of data from numerous NGS-based tests and by the inherent genetic complexity of cancer. Every class of mutation requires a different computational strategy for detection, and in addition, broad copy number changes and intratumor heterogeneity (as seen in multiclonal tumors) may further result in lower mutant allele frequencies and, thus, lower detection sensitivity. As a result, to increase the possibility of finding mutations that only occur in a tiny fraction of cancer cells, NGS techniques used in cancer diagnostics often demand a high depth of sequence coverage.

Genomics In Cancer Care Market Scope

Metrics

Details

Market CAGR

18.00%

Segments Covered

By Product, By Application, By Technology, By End-user, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Impact of COVID-19 on the Global genomics in cancer care Industry:

The present COVID-19 pandemic is increasing interest in genomics as a standard clinical diagnostic test, which is anticipated to have a favorable effect on the market under consideration. For instance, Illumina's COVIDSeq test, which is used to sequence the whole genome of the new SARS-CoV-2 virus, acquired Emergency Use Authorization (EUA) from the FDA in June 2020. This test can process more than 3,000 samples and provide findings in less than 24 hours to Illumina's high-throughput NovaSeq 6000 technology. Helix OpCo LLC also granted the Helix COVID-19 NGS Test for identifying SARS-CoV-2 infection EUA in August 2020.

The genomics in cancer care, however, has also been greatly impacted since cancer treatments were also delayed due to most elective operations and treatments being postponed reducing coronavirus transmission and reserving the healthcare infrastructure for COVID-19 infected patients. Therefore, it is anticipated that the COVID-19 pandemic will favor COVID-19-based genomics; nonetheless, a slightly falling trend was found in cancer care.

Segmentation Insights of the Global Market:

The genome sequencing segment is expected to dominate the genomics in cancer care market growth

The market is anticipated to develop due to new genome sequencing technology. The innovative technique of next-generation sequencing is widely used in oncology. The detection and analysis of modifiers, mutation analysis, and pharmacogenetics of biopsy are made possible by the sequencing of DNA and RNA. The complete genome, including the non-coding sections, is covered by genome sequencing (GS). When preparing the library, GS often does not use PCR, resulting in more even coverage and a higher ability to detect more prominent deletions or duplications than ES (up to 2 kb).

Because GS has a reduced read depth, it is less vulnerable to mosaicism. GS can also identify tandem repeat expansions and structural variation if the right software is employed. According to Palmer et al. (2021), structural variations, significant deletions, and duplications are the leading causes of the diagnostic rate of GS above ES, typically between 10 and 15 percent.

On February 11th, 2021, whole-genome sequencing is now available internally at Stanford Medicine. To pinpoint the cause of diseases and improve treatment options, Stanford Medicine now offers a service that uses genome sequencing technology.

Geographical Classification:

The North American region is expected to hold the largest market share in the global genomics in the cancer care market

Due to rising cancer incidence rates, government and other organizations' genomics-related projects and an increase in cancer incidence rates worldwide are expected to boost the global genomics in the cancer care market. The Globocan 2020 report estimates that there were approximately 612,390 cancer deaths and 2,281,658 new cancer cases in the United States in 2020. Breast (253,465), lung (227,875), prostate (209,512), and colon (101,809) cancers were the most prevalent in the United States in 2020.

Additionally, several governmental organizations, including the National Human Genome Research Institute (NHGRI), have been financing studies on human genome sequencing and research on the structure, function, and role of the genome in health and disease. Additionally, these organizations fund studies on genome research's social, legal, and ethical effects.

Competitive Landscape Analysis and Major Players Leading the Global Market:

The global genomics in the cancer care market is highly competitive with mergers, acquisitions, and product launches. Some of the key players in the market are Roche Diagnostics, AstraZeneca PLC, Illumina, Inc, Affymetrix, Agilent Technologies, Cancer Genetics Inc., Beckman Coulter Inc., Bio-Rad Labs, Danaher Corporation, Sigma Aldrich Corporation

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