Genomics In Cancer Care Market: Industry Development Scenario& Growth Opportunities
The global genomics in cancer care market is segmented on the basis of product type, technology, application, end user and regions. The product type is further segmented into consumables, instruments and services. On the basis of technology, it is sub-segmented into PCR, DNA sequencing, microarray technology, flow cytometry, bioinformatics, nucleic acid extraction and purification and others. Based on application, it is sub-segmented into personalized medicine, diagnostics, drug discovery and development &research. On the basis of end user, it is sub-segmented into research institutes, academic institutes and hospitals. The industry is majorly focusing to provide the best effective treatment for cancer in terms of personalized medicines and targeted therapies along with providing effective tailored treatments for cancer patients. These factors are anticipated to boost the growth of the market during the forecast period.
The global genomics in cancer care market is anticipated to expand at a CAGR around 17.6% during the forecast period i.e. 2019-2027. Rise in the healthcare expenditure coupled with rapid development in the field of therapeutics and diagnostics is expected to propel the growth of the market. Further, increasing demand for personalized medicines coupled with high prevalence of cancer across the globe are some of the important factors which are propelling the growth of the market.
Geographically, the global genomics in cancer care market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which, North America is expected to dominate the global genomics in cancer care market on account of rapidly developing biotech and diagnostic industry coupled with high level of awareness among patients. Along with that, the increased funding by the government and private organizations in the research and development is one of the major factors that are driving the growth of the market in this region. Further, the market in Asia Pacific region is expected to witness significant growth on the back of improved healthcare infrastructure and effective government support coupled with the enhancement in the penetration rate of new technologies and rising expenditure on research and development by the biotech industry.
Vibrant Growth of Genomics in Cancer Care
Rising demand for personalized medicine for the molecular characterization of cancer, increased healthcare expenditure, rapid development in therapeutics and diagnostic procedures and high prevalence of cancer across the globe are some of the significant factors that are expected to augment the growth of the market over the forecast period.
However, the low rate of adoption of genomics in cancer care in the developing economies and the high cost associated with it is estimated to hinder the growth of the market over the forecast period.
The report titled “Genomics in Cancer Care Market: Global Demand Analysis & Opportunity Outlook 2027” delivers the detailed overview of the global genomics in cancer care market in terms of market segmentation by product type, by technology, by application, by end user and by regions.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global genomics in cancer care market which includes company profiling of key companies such as Bio-Rad Labs, General Electric Healthcare, Abbott Molecular, Affymetrix and Illumina, Inc., Beckman Coulter, Inc., Agilent Technologies, Oxford Gene Technology, Pacific Biosciences, Roche Diagnostics, Thermo Fisher Scientific and other prominent players. The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global genomics in cancer care market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.