Global Genomics In Cancer Care market research 2024, Forecast To 2033

The genomics in cancer care market size has observed rapid growth in recent years, increasing from$15.08 billion in 2023 to$17.79 billion in 2024 at a compound annual growth rate (CAGR) of 18.0%. This growth in the historic period can be attributed to early research and development efforts, development of companion diagnostics, establishment of ethical and legal frameworks, standardization and interpretation of data, and initial market penetration. Looking forward, the market is expected to witness rapid growth, reaching$33.28 billion in 2028 at a compound annual growth rate (CAGR) of 17.0%. Factors contributing to this growth include the rising prevalence of cancer, advancements in data analytics, market expansion in emerging economies, concerns regarding genomic data privacy and security, and improvements in healthcare infrastructure. Major trends in the forecast period encompass technological advancements, personalized medicine approaches, reduced costs of genomic sequencing, support from regulatory bodies, and increased patient awareness and demand for genomic-based treatments.