Genomics in Cancer Care Market
Number of pages: 100 | Report Format: PDF | Published date: 06 March, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market size value in 2022 |
US$ 3.42 billion |
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Revenue forecast in 2031 |
US$ 28.52 billion |
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Growth Rate |
CAGR of 15.3% from 2023 to 2031 |
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Base year for estimation |
2022 |
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Forecast Period |
2023-2031 |
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Historical Year |
2021 |
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Segments covered |
Product Type, Technology, Application and Region |
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Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global genomics in cancer care market was valued at US$ 3.42 billion in 2022 and is expected to register a revenue CAGR of 15.3% to reach US$ 28.52 billion by 2031.
Market Fundamentals
Genomics is the study of a person's whole genetic sequence. Genomics is important in both health and disease. Genomics is widely utilised in cancer care treatment to diagnose and cure cancer. Genomics is classified into two types: structural genomics and functional genomics. The applications include gene therapy, gene discovery, personalized medicine, pharmacogenetics & targeted treatment, metagenomics, mitochondrial genomics, and pharmacogenomics. Metagenomics has emerged as a critical application in genomics. In gene therapy, newer technique of genome editing is utilized. Genome editing helps in the creation of gene-editing tools that can change existing DNA in cells. Because of qualities like high-throughput sequencing and characterisation of expressed human genes, genomics is used in drug discovery. Due to knowledge about human genes and their activities, genomics has enabled effective preventive strategies, changes in drug research strategy, and changes in the medication development process.
A whole human genome has around 3 billion base pairs of DNAs. Pharmacogenomics is the study of genes and their actions in order to develop safe, effective pharmaceuticals that can be given based on a person's genetic makeup. Pharmacogenomics selects drugs and medicine doses that are effective for that individual based on genetic information. Pharmacogenomics helps in the improvement of patient safety, health-care costs, and therapeutic efficacy.In pharmacogenetics, single nucleotide variant (SNV) panels are used. The study of cancer genome has enhanced understanding of cancer biology, allowing for the discovery of new approaches for detecting and treating the disease. The importance of genomics in cancer care has enabled the discovery of novel drugs and effective treatments for detecting and treating the disease, resulting in a beneficial impact on market growth.
Most cancers are inherited, with a single gene mutation in the germline (ovary or sperm) predisposed an individual to developing particular cancers. The mother or father passes on the majority of germline mutations to their offspring during conception. The transmission pattern is almost usually autosomal dominant, which means that each first-degree relative (sibling, child, or parent) of a mutation carrier has a 50% chance of receiving the mutation. Hereditary cancer is characterized by onset at a relatively young age than would be expected for a specific malignancy. Although germline mutations account for a small proportion of cancer, the early age of start and significantly increased cancer risks associated with these syndromes make identifying mutation carriers necessary to provide personalised prevention-focused health treatment. Genomic care is no longer limited to a small set of patients but is becoming an integral part of the care for all individuals, including those with cancer. Physicians must be informed of discoveries in genomics and their implications on risk assessment, prevention, diagnosis, and management in this fast-evolving field. Educated nursing can implement evidence-based interventions and expert professional guidelines into their practise to improve patients' overall health, quality of life, and safety.
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Market Dynamics
The increased prevalence of cancer and biotechnology advances in cancer care are projected to be important factors driving market expansion. According to Globocan 2020, an estimated 19,292,789 new cancer cases were diagnosed globally, with almost 9,958,133 cancer deaths. Furthermore, the International Institute for Research on Cancer (IARC) predicts that the number of cancer cases will rise to 27.5 million new cases and 16.3 million deaths worldwide by 2040. The rising incidence of cancer cases is predicted to raise the need for advanced cancer diagnostics and treatment alternatives, boosting the market. Furthermore, the study market is expected to be driven by the launch of new products and successful strategic collaborations among key players. For instance, in September 2020, Thermo Fisher Scientific's Ion Torrent Genexus System and Oncamine Precision Assay were chosen for the advancement of precision medicine in Asia by the LC-SCRUM-Asia, a major cancer genomic screening initiative. As a result of the aforementioned factors, the genomic in cancer care market is expected to increase significantly globally over the forecast period.
One of the most difficult challenges that cancer researchers and patients currently face is drug resistance. Recurrence or relapse occurs when cancer cells become resistant to the effects of therapeutic medications and multiply and rebuild tumours. Resistance can grow fast, frequently within weeks of starting therapy. In other cases, it can take months or even years to manifest. Resistance can emerge when cancer cells, even a small subset of cells within a tumour, have genetic changes that make them insensitive to a certain therapy before treatment even begins. Since cancer cells within the same tumour usually have a variety of molecular mutations, this is known as "mutational cancer." According to the CDC, the annual number of new cancer cases (cancer incidence) is 439.2 per 100,000 men and women (based on 2011–2015 cases). According to NCBI 2018, gene therapy targeting defective genes such as TP53 (tumour suppressor gene encodes for p53) and KRAS (oncogene) in CRC can be an additional treatment option, consequently fuelling market growth.
Market Ecosystem
The global genomics in cancer care market has been analysed from three perspectives by Product Type, Technology, Application and Region.
Genomics in Cancer Care Market by Product Type
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Based on product type, the global genomics in cancer care market has been segmented into instruments, consumables, services.
The instruments segment is likely to dominate the market during forecast period because they are an essential component in cancer treatment. Technical improvements such as digitalization of PCR machines, improved sequencers, and cancer genotyping analysers are factors driving segment growth.
The rising demand for consumables used in cancer genomics, such as sample preparation kits, reagents, and biomarkers, will drive the company's rapid growth in the future years. Cancer risk assessment, genetic susceptibility testing, genetic counselling, and other services are provided by genomic companies. The segment is expected to develop rapidly throughout the projected period as patients become more aware of the availability of diagnostic and treatment alternatives.
Genomics in Cancer Care Market by Technology
Based on technology, the global genomics in cancer care market has been segmented into PCR, microarray, genome sequencing, others.
The genome sequencing segment is likely to dominate the market during forecast period owing to associated advantages such as accurate diagnosis and effective results. Cancer whole genome sequencing, for instance, helps in the discovery of novel cancer-related variants such as single nucleotide variants (SNVs), structural variants, and copy number alterations. It also helps in the comparison of normal and malignant DNA. It is predicted to be the dominating segment due to widespread use in diagnostics and expanding awareness of genomics technical developments. The results of genome sequencing have been shown to be 95% accurate. The growing desire for rapid, cost-effective, adaptable, and high-throughput techniques is predicted to boost genomics' adoption rate.
The polymerase chain reaction (PCR) and microarray showed the lucrative growth during forecast period due to number of advantages that are increasing demand for genomics in the cancer care market. The process is simple, easy to understand, and provides effects immediately. As a result, it is helpful for evaluating changes in gene expression levels in tumours, bacteria, and other disease states. Additionally, the rising biotechnological uses in diagnostics and emergence of technologically improved tools for performing these processes. The convergence of genetic breakthroughs and the development of microarray devices to test an analyte in bodily tissues and blood is expected to provide future growth prospects for this segment.
Genomics in Cancer Care Market by Application
Based on application, the global genomics in cancer care market has been segmented into diagnostics, personalized medicine, drug discovery & development, research.
The diagnostics segment is likely to dominate the market during forecast period due to the increasing need for early cancer diagnosis and growing awareness of genetics in cancer care. Increasing research and development for generating novel treatments based on individual immunity, on the other hand, would fuel the rise of the personalised medicine segment throughout the forecast period.
Genomics in Cancer Care Market by Region
Based on region, the global genomics in cancer care market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America is predicted to hold a significant market share in the global genomics in cancer care market due to increased cancer disease incidence rates and government and other organisations' genomics cancer activities. According to the Globocan 2020 report, an estimated 2,281,658 new cancer cases would be identified in the United States in 2020, with almost 612,390 deaths. In 2020, Breast cancer (253,465), lung cancer (227,875), prostate cancer (209,512), and colon cancer (101,809) were the most frequent malignancies in the United States. Moreover, different government entities, such as the NHGRI (National Human Genome Research Institute, United States), have been funding research linked to human genome sequencing, as well as research connected to the structure, function, and role of the genome in health and disease. Furthermore, these organisations fund research into the ethical, legal, and social ramifications of genomic research.
Asia Pacific is expected to grow at a higher rate because of increasing healthcare infrastructures in countries like India and China, Furthermore, increased healthcare infrastructure, ongoing government support, and untapped market prospects have generated vast market opportunities in Asia Pacific region.
Competitive Landscape
Companies are implementing development initiatives such as collaborations, mergers, and acquisitions to expand their product portfolios and maintain their place among global competitors. For instance, Personal Genome Diagnostics Inc, engaged into a strategic collaboration with QIAGEN in January 2021 to provide Comprehensive Pan-Cancer Tumor Profiling assays and clinical decision support to molecular labs.
Some of the prominent market players in the global genomics in cancer care market include,
Strategic Development
The Asia Pacific is the key growth region in the global genomics in cancer care market.
The growing burden of cancer and initiatives taken by companies in new product development are the prime driving factors.
The estimated market size of genomics in cancer care market in 2031 will be US$ 28.52 billion.
The genomics in cancer market is expected to register a revenue CAGR of 15.3%
Some of the prominent market players in the global genomics in cancer care market include Illumina, Inc., Pacific Biosciences Inc. and Abbott Molecular Oxford Gene Technology.
*Insights on financial performance are subject to the availability of information in the public domain
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Snehal Deshmukh
Principle Consultant
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