Dublin, Oct. 16, 2024 (GLOBE NEWSWIRE) -- The "Genomics in Cancer Care - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Genomics in Cancer Care was estimated at US$21.4 Billion in 2023 and is projected to reach US$62.1 Billion by 2030, growing at a CAGR of 16.5% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Genomics is transforming cancer care by enabling a more personalized and precise approach to treatment. By analyzing the genetic makeup of cancer cells, clinicians can identify specific mutations and biomarkers that drive tumor growth, allowing for targeted therapies that are tailored to an individual's genetic profile.
This personalized medicine approach has proven particularly effective in treating cancers such as breast, lung, and colon cancer, where traditional therapies may have been less successful. Genomics not only enhances the accuracy of diagnosis but also helps predict how a patient will respond to specific treatments, reducing the need for trial-and-error approaches. As genetic testing becomes more affordable and accessible, genomics is becoming an integral part of cancer care, leading to more effective and less invasive treatment options.
What Factors Are Driving the Growth in the Genomics in Cancer Care Market?
The growth in the genomics in cancer care market is driven by several factors, including the increasing prevalence of cancer, the rising demand for personalized medicine, and advancements in genetic testing technologies. Next-generation sequencing and other advanced diagnostic tools are enabling faster and more accurate identification of cancer-related mutations, fueling the adoption of genomics in clinical settings.
The growing focus on targeted therapies, which are designed to attack specific genetic mutations, is also driving the demand for genomics-based cancer treatment. Government initiatives and research funding aimed at advancing cancer genomics are further propelling market growth, while the expansion of genetic testing into emerging markets is creating new opportunities for industry players.
What Are the Major Applications and Segments of Genomics in Cancer Care?
Key technologies include next-generation sequencing (NGS), microarray analysis, and polymerase chain reaction (PCR), each offering different capabilities in genetic testing and analysis. In terms of application, genomics is used for diagnostics, targeted therapies, and monitoring recurrence or treatment resistance.
NGS is rapidly becoming the gold standard for comprehensive genomic profiling, enabling the identification of multiple mutations in a single test. The market is also segmented by end-users, with hospitals, cancer research institutes, and pharmaceutical companies being the primary adopters. Regionally, North America leads the market due to high healthcare spending and advanced cancer research infrastructure, while Asia-Pacific is emerging as a growth region, driven by increasing cancer prevalence and expanding healthcare access.
How Are Technological Advances Driving Genomics in Cancer Care?
Technological advancements in genomics are revolutionizing cancer care by enhancing the accuracy, speed, and affordability of genetic testing. The advent of next-generation sequencing (NGS) has made it possible to sequence entire genomes quickly and cost-effectively, providing clinicians with comprehensive data on cancer mutations and biomarkers. In addition, advances in bioinformatics and AI are enabling the rapid analysis of vast genomic datasets, improving diagnostic accuracy and facilitating the discovery of new therapeutic targets.
Liquid biopsies, a non-invasive method of analyzing tumor DNA from blood samples, are also gaining traction, allowing for continuous monitoring of cancer progression and treatment response. These innovations are making personalized cancer care more accessible and effective, pushing the boundaries of what's possible in oncology.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Instruments segment, which is expected to reach US$25.0 Billion by 2030 with a CAGR of a 15.1%. The Consumables segment is also set to grow at 18.1% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $5.5 Billion in 2023, and China, forecasted to grow at an impressive 20.8% CAGR to reach $15.6 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Affymetrix, Agilent Technologies, BGI, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Questions Answered:
- How is the Global Genomics in Cancer Care Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 93 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $21.4 Billion |
| Forecasted Market Value (USD) by 2030 | $62.1 Billion |
| Compound Annual Growth Rate | 16.5% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Genomics in Cancer Care - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Rapid Advancements in Next-Generation Sequencing (NGS) Drive Growth in Genomics-Based Cancer Diagnostics
- Precision Medicine Initiatives Propel Demand for Genomics in Personalized Cancer Treatment
- Increased Use of Genomics for Early Cancer Detection Expands Market Opportunities
- Technological Innovations in Liquid Biopsy Accelerate Demand for Genomic Testing in Oncology
- Growing Adoption of Targeted Therapies Spurs Growth in Genomics-Driven Cancer Care
- Integration of AI and Machine Learning in Genomics Strengthens Cancer Research and Treatment Approaches
- Expansion of Clinical Trials Using Genomic Profiling Propels Adoption in Drug Development
- Rising Government and Private Funding for Cancer Genomics Research Drives Market Growth
- Increased Awareness and Accessibility of Genetic Testing Propels Demand for Cancer Genomics
- Growing Focus on Biomarker Discovery and Development Strengthens Business Case for Genomics in Cancer Care
- Increasing Application of Genomics in Immuno-Oncology Creates New Growth Avenues
FOCUS ON SELECT PLAYERS (Total 42 Featured)
- Affymetrix
- Agilent Technologies
- BGI
- Bio-Rad Laboratories
- Cancer Genetics Inc
- GE Healthcare
- Illumina Inc
- Life technologies
- Myriad Genetics
- Pacific Biosciences
- Perkin Elmer
- Qiagen
- Quest Diagnostics
- Roche Diagnostics
- Sigma Aldrich
For more information about this report visit https://www.researchandmarkets.com/r/pfufrk
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