Genomics in Cancer Care Market Growth Opportunities Competitive Analysis Forecast Report 2022-2029
North America is expected to grab a leading market share from the global genomics in cancer care market due to advanced occurrence rates of cancer disease and creativities taken by government and other administrations associated with the genomic cancer.
According to the research report published by DataM Intelligence, the global genomics in cancer care market size is expected to reach USD 1 billion by the end of 2029, growing at a CAGR of 9.2% in during the forecast period 2022-2029.
The development of technology associated with genome sequencing is foreseeable to drive the growth of the market. Next-generation sequencing is an original process with wide application in oncology. DNA and RNA sequencing facilitate the detection and examination of changes, the analysis of transformation and the pharmacogenetics of biopsy.
North America is expected to grab a leading market share from the global genomics in cancer care market due to advanced occurrence rates of cancer disease and creativities taken by government and other administrations associated with the genomic cancer. Due to the growing problem of cancers in the region, along with growing research actions related to genomics, the market is expected to witness significant growth in the North American region.
While Asia-Pacific is expected to achieve notable growth due to improved penetration rate of these technologies and improved R&D spending by biopharmaceutical companies.
The market for genomics in cancer care is extremely viable. A number of industries currently dominating the market are Illumina Inc., ThermoFisher Scientific Inc., Agilent Technologies, Cancer Genetics Inc., GE Healthcare (GE Company), Intrexon Bioinformatics Germany GmbH, Quest Diagnostics, Merck KGaA, and Pacific Biosciences. , Inc. among others. Companies accept growth strategies such as collaborations, mergers and acquisitions to expand their product portfolio and secure their place among global participants.
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The key findings of the study suggest that the technology available in the market is continuously focusing on technological advancements that will reduce effort and provide accurate diagnosis of cancer. Leading companies while developing new technologies take into consideration factors such as creating awareness of using this technology and reaching the untapped market. North America is expected to dominate the global market over the forecast years and the Asia-Pacific region is showing signs of strong growth thanks to the booming economies of India and China.
High prevalence of cancer and advancements in biotechnology associated with cancer care are expected to be major factors to propel the growth of the market. According to Globocan 2020, it is estimated that new cases of cancer have been diagnosed in the world, with almost huge deaths due to cancers, in the world. Moreover, according to the International Agency for Research on Cancer, the incidence of cancer cases is expected to reach one million new cases and one million deaths worldwide by 2038.
The rising incidence of cancer cases is expected to drive the need for advanced diagnostics and treatment options for cancers, which is expected to successively spice up the market. In addition, recent product launches and effective strategic collaborations among key players are expected to boost the market studied. for example, in September 2020, Thermo Fisher Scientific’s Ion Torrent Genexus System and Oncamine Precision Test were selected by LC-SCRUM-Asia, a number one cancer genomic screening program, for the advancement of medicine precision in Asia. Thus, considering the above-mentioned factors, genomics in cancer care market is expected to register significant growth over the forecast period globally.
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Market Segmentation Analysis:
Drug discovery and development
Nucleic acid extraction and purification
Per end user:
Ambulatory surgery centers
The full report contains the information below.
- The report offers a comprehensive valuation of the market in terms of market value (USD) and annual growth rate (%). It does this by using in-depth qualitative insights, historical data (2020-2021) and verifiable projections of the market size over the forecast period (2022-2029).
- Visualize the composition of the Genomics in Cancer Care market segmentation by product, application, technology, end-user, and region, highlighting key business assets and players.
- Identify business opportunities in the market by analyzing trends and co-development agreements.
- The report also covers data insights on various industry forces such as carrier’s five forces, regulations in each country, reimbursement scenario, technological advancements, PEST analysis, and price analysis.
- Excel data sheet with thousands of market level 4/5 segmentation data points.
- PDF report with the most relevant analysis convincingly assembled after exhaustive qualitative interviews and in-depth market research.
- Product mapping in Excel for key product of all major market players
- The report will provide access to approximately 50+ market data tables, over 40 figures and almost 180 pages.
Additional benefits after purchase:
- Unlimited Analyst Support for a period of 1 year.
- Any questions regarding the scope offered will be answered within 24-48 hours.
- An Excel sheet with market numbers will be provided separately
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