How Has The Genomics In Cancer Care Market Size Evolved In Recent Years?
The genomics in cancer care market has seen considerable growth due to a variety of factors.
• In recent years, the market size for genomics in cancer care has experienced a swift expansion. It is projected to increase from $17.6 billion in 2024 to $20.73 billion in 2025, witnessing a compound annual growth rate (CAGR) of 17.8%. Factors contributing to this growth during the historical period include early-stage research and development, the creation of companion diagnostics, ethical and legal structures, data normalization and interpretation, as well as initial market penetration.
What Does Future Hold for The Genomics In Cancer Care Market?
The Genomics In Cancer Care market is expected to maintain its strong growth trajectory in upcoming years.
• The market for genomics in cancer care is anticipated to experience significant expansion in the coming years, projected to reach $38.57 billion by 2029, with a 16.8%.
compound annual growth rate (CAGR). Factors contributing to growth during the forecast period include the rising incidence of cancer, progression in data analytics, burgeoning markets in developing economies, and concerns over genomic data privacy and security, coupled with the improvement of healthcare infrastructure. Notable trends during this period include technological innovation, the growing popularity of personalized medicine, the decline in the cost of genomic sequencing, supportive regulatory directives and guidelines, as well as patient awareness and demand.
What Are The Primary Growth Drivers In The Genomics In Cancer Care Market?
The rising need for cancer diagnostics is anticipated to further the development of genomics in cancer care. Cancer diagnostics involves accurately identifying the type, location, spread, and stage of a tumor through various tests and procedures that confirm the presence of the disease. Using genomics in cancer care, an appropriate treatment plan for patients can be devised by understanding their genetic makeup. As an example, The Cancer Research UK, a cancer research body in the UK, forecasted in July 2024 that the average annual number of new cancer cases in the UK would jump from roughly 420,000 cases during 2023-2025 to an estimated 506,000 cases by 2038-2040. Hence, the expanding need for cancer diagnostics is projected to boost the growth of genomics in the cancer care market.
What Is The Segmentation Of The Global Genomics In Cancer Care Market?
The genomics in cancer care market covered in this report is segmented –
1) By Product Type: Instruments, Consumables, Services
2) By Technology: PCR (?Polymerase Chain Reaction), MicroArrays, Genome Sequencing, Other Technologies
3) By Application: Diagnostics, Personalized Medicine, Drug Discovery And Development, Research
4) By End-User: Hospitals, Government Institutes, Research Facilities
Subsegments:
1) By Instruments: Sequencers, PCR Machines, Microarrays, Other Diagnostic Instruments
2) By Consumables: Reagents And Kits, Sample Preparation Products, Nucleotides, Other Consumables
3) By Services: Data Analysis Services, Bioinformatics Services, Genetic Testing Services, Other Support Services
Pre-Book The Genomics In Cancer Care Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Emerging Trends Are Shaping The Genomics In Cancer Care Market Landscape?
Top firms in the genomics in cancer care market are aiming to streamline and improve genetic testing procedures by integrating robotic genomic testing facilities. These facilities provide a cutting-edge laboratory environment equipped with automated systems and robotics technology to carry out various genomic analyses. Through the implementation of the LINQ platform by Automata, six robotic arms are used to automate the prepping of various biological materials like saliva, blood, bone marrow, and tissue biopsies. An example of this advancement was seen in The Royal Marsden NHS Foundation Trust, a renowned UK cancer hospital, which debuted a robotic genomic testing facility in September 2024 to improve cancer diagnosis and treatment protocols. This facility is anticipated to double the genomic testing capacity of the Royal Marsden, facilitating a higher test output without sacrificing precision.
Who Are the Key Players In The Genomics In Cancer Care Market?
Major companies operating in the genomics in cancer care market include:
• Illumina Inc.
• Thermo Fisher Scientific Inc.
• Agilent Technologies Inc.
• PerkinElmer Inc.
• QIAGEN N.V.
• Bio-Rad Laboratories Inc.
• Danaher Corporation
• Pacific Biosciences of California Inc.
• Roche Holding AG
• Quest Diagnostics Incorporated
• DiaSorin S.p.A.
• BGI Group
• Myriad Genetics Inc.
• NeoGenomics Laboratories
• Foundation Medicine Inc.
• Intermountain Healthcare
• Laboratory Corporation of America Holdings
• Flatiron Health Inc.
• Personal Genome Diagnostics Inc.
• Natera Inc.
• GRAIL Inc.
• Freenome Holdings Inc.
• Caris Life Sciences Inc.
• Tempus Labs Inc.
• OncoDNA S.A.
• Biocept Inc.
• GenomOncology Corp.
• OncoCyte Corporation
• PathAI Inc.
• Enzyme Corporation
• Karius Inc.
• N-of-One Inc.
• Oncora Medical Inc.
• Paradigm Diagnostics Inc.
• PierianDx Inc.
• Predicine Inc.
• Resolution Bioscience Inc.
• Strata Oncology Inc.
What Are The Regional Insights Into The Genomics In Cancer Care Market?
North America was the largest region in the genomics in cancer care market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the genomics in cancer care market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
