Genomics in Cancer Care Market Analysis, Share and Forecasts to 2024

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Genomics In Cancer Care Market Share, Size, Analysis, Growth,
Trends and Forecasts to 2024 | Hexa Research
The global genomics in cancer care Market is projected to expand at a CAGR over 17.3%
during the forecast period (2016 to 2024). Factors driving the industry are availability of
sophisticated & cost effective diagnostic technologies and surging R&D investment in
biotechnology & pharmaceuticals. Growing popularity of personalized medicine could
favorably influence demand in the forthcoming years.
Genome refers to the material that contains genetic information in an organism. The DNAs
contained within cells make up one’s genome. Cancer is a disease that adversely impacts
the genome. It alters the DNA structure within cells. These cells then start p roducing a
protein that has an adverse effect on the working of the cells. Companies operating in the
global industry constantly strive towards enhancing the efficacy of genome based cancer
treatment. Rising cancer cases worldwide may catapult demand for precise & affordable
diagnostic solutions.
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The worldwide Genomics In Cancer Care Market is categorized on the basis of the
following parameters: products, applications, technologies, end users, and regions. As per
products, the trifurcations are consumables & reagents, instruments, and services. When it
comes to target specific treatment, demand for instruments is by far the highest. This
segment may witness robust growth over the next couple of years. Rising awareness
among the masses about the availability of several treatment & diagnostic options can
drive the market for services. Based on applications, the industry is segmented into
personalized medicine, research, diagnostics, and drug discovery & development. The
research segment is highly lucrative and thus holds a major share in the overall industry.
Various technologies employed in the Genomics In Cancer Care Market are nucleic acid
extraction & purification, genome sequencing, microarray, PCR (polymerase chain
reaction), and others. ‘Others’ refers to bioinformatics and flow cytometry. Genome
sequencing facilitates effective & precise diagnosis. This is a key aspect that may fuel the
genome sequencing segment in the years to come. The introduction of highly advanced
instruments for genomics processes may drive the PCR & microarrays segments.
Furthermore, these instruments are widely employed in biotechnological applications. Key
end users in the genomics in cancer care industry are academic institutes, research
organizations, and hospitals. The other end users are commercial organizations, physician
offices, and even diagnostic laboratories.
As per regions, the worldwide Genomics In Cancer Care Market is divided into Latin
America, North America, Europe, Asia Pacific, and the Middle East & Africa. Due to
widespread awareness, North America may continue leading the biotechnology industry
from 2016 to 2024. Asia Pacific may register a high growth rate due to factors, such as
better healthcare infrastructure, steady government assistance, and untapped
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opportunities for further market progress. Prominent industry players are Cancer Genetics
Inc.; Roche Diagnostics; Bio-Rad Laboratories; Affymetrix; and GE Healthcare.
DNA liquid biopsy testing is an upcoming disease fighting tool that may gain popularity in
the near future. This technique involves a simple blood draw. Dying cancer cells generally
release minute quantities of DNA into the patient’s blood. This can facilitate early
detection of cancer. In China, a number of research hospitals have begun conducting maj or
studies that employ such tests. This leads to better DNA analyses that may act as
screenings tests for illnesses, like nasopharyngeal carcinoma and liver tumors.
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Email : [email protected]
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The global cancer genomics market is expected to witness a significant growth over the forecast period owing to the availability of cost-efficient and advanced diagnostic technology.