Genomics in Cancer Care Market Size, Share, Industry, Forecast and outlook (2024-2031)

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, 2024-2031

Genomics in Cancer Care Market Overview

The Global Genomics In Cancer Care Market reached USD 13.4 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 51.1 billion by 2031. The Global Genomics in Cancer Care Market is expected to exhibit a CAGR of 18.9% during the forecast period 2024-2031. Genomics plays a crucial role in precision medicine and drug development for cancer.

Identifying Cancer-causing mutations is very crucial, and Genomics plays a vital role in achieving this. For people with a cancer mutation that an achievable therapy can target, there is no question that cancer-genome sequencing directs to better outcomes and survival.

Specific genetic changes in cancer cells can be found through genomic testing. This aids in diagnosing particular cancer kinds, making prognostications, and selecting the best treatment or therapy. For instance, BRCA1 and BRCA2 gene mutations, which are linked to an elevated risk of breast and ovarian cancer, can be found through genetic testing. Additionally, it can spot genetic changes that allow tumors to respond well to specific treatments.

Genomics in Cancer Care Market Scope

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Genomics in Cancer Care Market Dynamics

Growing Burden of Cancer is Driving the Global Genomics in Cancer Care Market Growth

Breast cancer is the primary or secondary cause of mortality for women from cancer in 95% of the world's nations. However, there are significant disparities in breast cancer survival between and within nations. Nearly 80% of breast and cervical cancer fatalities take place in low- and middle-income nations.

The World Health Organisation (WHO) unveiled a new global breast cancer initiative framework to prevent 2.5 million deaths from breast cancer by 2040. Breast cancer is the most prevalent cancer in people, with more than 2.3 million cases diagnosed each year. 

Growing Awareness of Cancer is Driving the Global Genomics in Cancer Care Market Growth

The theme of the 2023 observance of world cancer day calls for increased action throughout the South-East Asia region to strengthen health systems for early cancer prevention and detection, prompt treatment referral, improved access to palliative care, and closing the access gap to quality cancer services. 

WHO continues to support countries in the region as they implement their new regional action plan on oral health 2022–2030. Increasing cancer awareness and government support drives genomics in the cancer care market.

High Cost of Genomic Instruments is Hampering Global Genomics in Cancer Care Market Growth

Developing genomics devices and technologies involves significant research and development efforts. These intricate systems require a substantial investment in design, testing, and refinement. The costs incurred during the gadget development phase go into the overall price of the products. 

Advanced sequencing techniques, such as next-generation sequencing (NGS), which enable quick and precise examination of the genetic material, are frequently used in genomics devices. The cost of manufacturing, maintaining, and upgrading NGS systems and associated consumables can raise the price of the equipment. 

Genomics in Cancer Care Market Segment Analysis

The Global Genomics In Cancer Care Market is segmented based on product, technology, application, End User, and region.

The Genome Sequencing Segment is Expected to Hold a Dominant Position in the Market Over the Forecast Period

The genome sequencing segment accounted for the highest market stake, accounting for approximately 36.4% of the genomics in the cancer care market in 2022.  A variable number of point mutations, fusions, and other abnormalities are frequently seen in cancer genomes. 

Cancer whole-genome sequencing is the most thorough method for variant detection because many of these mutations may be unique and not reside in coding areas. 

Targeted methods, like exome sequencing, on the other hand, overlook some variants, such as those outside of coding areas. For instance, Illumina, Inc. provides BaseSpace Sequence Hub, DRAGEN Somatic Pipeline, and DRAGEN Bio-IT Platform for genome sequencing.

Source: DataM Intelligence Analysis (2023)

Genomics in Cancer Care Market Geographical Penetration

North America is dominant in the Global Genomics In Cancer Care Market.

North America is estimated to hold around 39.9% of the total market share throughout the forecast period. Owing to the cancer cases in the region increasing, leading to a higher demand for personalized medicine, technological advancements are expected to boost regional growth over the forecast period.

For instance, in January  2023, The American Cancer Society (ACS) published cancer statistics, and in 2023, the group's yearly report on the statistics and patterns of cancer. According to the ACS, in 2023, the United States is expected to have 1,958,310 new cancer cases and 609,820 cancer-related deaths.

Source: DataM Intelligence Analysis (2023)

Genomics in Cancer Care Market Players

The major global players in the market include Roche Diagnostics, AstraZeneca PLC, Illumina, Inc., Affymetrix, Agilent Technologies, Cancer Genetics Inc., Beckman Coulter Inc., Bio-Rad Labs, Danaher Corporation, and Sigma Aldrich Corporation (Merck KGaA) among others.

COVID-19 Impact on Genomics in Cancer Care Market

Russia Ukraine Conflict Analysis

The Russia-Ukraine war may affect the genomics in the cancer care market due to a lack of healthcare facilities and fewer research activities being impacted during times of geopolitical instability and economic uncertainty. Trade restrictions, limitations, or decreased coordination between the warring parties might result from geopolitical conflicts. 

This may impede the transfer of information, innovations, and genomic data required for the development of genomics in cancer treatment. Additionally, it can restrict access to cutting-edge genetic technologies and obstruct the global circulation of associated goods. 

Artificial Intelligence Analysis:

Artificial intelligence (AI) is increasingly being used in the genomics in the cancer care market to improve various aspects of the researcher experience.  New cancer medicines can be discovered and developed more quickly due to AI. AI systems can find prospective medication targets, forecast drug efficacy, and optimize treatment combinations by analyzing enormous volumes of genomic and biological data. 

As a result, the process of developing new drugs can be sped up, and viable therapeutic options for particular genetic profiles can be found.

By Product

• Instruments
• Consumables
• Services 

By Technology 

• Genome Sequencing
• PCR
• Microarray
• Nucleic Acid Extraction and Purification
• Others

By Application 

• Diagnostics
• Personalized Medicine
• Drug Discovery & Development
• Research 

By End User

• Hospitals 
• Research Institutes
• Academic Institutes
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • The U.K.
  • France
  • Italy
  • Spain
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In February 2023: Oxford Nanopore Technologies extended their collaboration with UPS Healthcare to enhance the delivery of Oxford Nanopore DNA/RNA sequencing products and consumables in the Asia Pacific countries.
• In August 2022, to examine the cancer-specific gene mutations in the Indian population, a study team from the Advanced Centre for Treatment, study and Education in Cancer (ACTREC) developed the TMC-SNPdb2.0, a genome toolkit made up of a comprehensive dataset of 1,800 individuals' genome sequences. The bioinformatics tools aim to close the gap in the accessibility of cancer genome data of Indian ancestry in large-scale genomic databases.

Why Purchase the Report?

• To visualize the Global Genomics In Cancer Care Market segmentation based on the product, technology, application, End User, and region and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of genomics in the cancer care market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The Global Genomics In Cancer Care Market Report Would Provide Approximately 69 Tables, 69 Figures  And 195 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies

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