According to the research report published by the DataM Intelligence, the global Genomics in Cancer Care Market size is projected to reach USD billion by the end of 2029, with growth at a CAGR of 9.2% during the forecast period 2022-2029.
Developing technology associated with genome sequencing is predictable to boost the growth of the market. Next-Generation sequencing is an original process having extensive application in oncology. The sequencing of DNA and RNA aids in the detection and examining the changes, transformation analysis, and pharmacogenetics of biopsy.
North America is anticipated to grasp a main market share in the global genomics in the cancer care market owing to advanced occurrence rates of cancer disease and the creativities taken by the government and other administrations associated with genomics cancer. Due to the increasing problem of cancers in the region, along with growing research actions relating to genomics, the market is predicted to observe important growth in the North American region.
While Asia Pacific is predicted to reach notable growth due to the improved penetration rate of these technologies and improving R&D expenses by the biopharma businesses.
The Genomics in Cancer Care Market is abstemiously viable. a number of the industries which are 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 are accepting growth strategies like collaborations, mergers, and acquisitions to enlarge their product portfolio and secure their place among global participants.
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Key Findings from the study suggest technology available within the market is continuously concentrating on the technological advancements which will reduce the efforts and supply accurate diagnosis of cancer. The leading companies while developing new technologies consider the factors like increasing awareness for the utilization of this technology and reaching the untapped market. North America is presumed to dominate the world market over the forecast years and the Asia Pacific region shows signs of high growth thanks to the booming economies of India, and China.
The high prevalence of cancer and biotechnological advancements associated with cancer care is predicted to be the foremost factors to propel the market growth. in keeping with Globocan 2020, estimated new cancer cases were diagnosed worldwide, with nearly huge deaths thanks to cancers, globally. Additionally, as per the International Agency for Research on Cancer, the incidence of cancer cases is predicted to grow to million new cases and million deaths worldwide by 2038.
The increasing incidence of cancer cases is anticipated to drive the requirement for advanced diagnostics and treatment options for cancers, which successively is anticipated to spice up the market. Also, the launch of recent products and effective strategic collaborations among key players is anticipated to drive the studied market. for example, in Sep 2020, Thermo Fisher Scientific’s Ion Torrent Genexus System and Oncamine Precision Assay were selected by the LC-SCRUM-Asia, a number one cancer genomic screening program, for the advancement of precision medicine in Asia. Thus, in sight of the aforementioned factors, the genomic within the cancer care market is predicted to register significant growth over the forecast period globally.
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Market Segmentation Analysis:
Drug Discovery & Development
Nucleic Acid Extraction and Purification
By End User:
Ambulatory Surgical Centers
The Full Report has the below insights.
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Visualize the composition of the Genomics In Cancer Care Market Segmentation By Product, By Application, By Technology, By End-user, and Region, highlighting the key commercial assets and players.
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