Global Genomics in Cancer Care Market is expected to
reach USD 9.22 billion by 2022, according to a new report by Grand View
Research, Inc. Increasing prevalence of cancer coupled with adoption of next
generation sequencing for the diagnosis & treatment is expected to fuel the
market with future growth opportunities. Increasing incidences of cancer
triggers the demand for cost effective and accurate diagnostics in coming
years.
In
addition, increasing demand for personalized medicines in molecular
characterization of cancer to identify therapeutic targets is the factor
attributing towards the market growth. Similarly, factors such as cost
reduction in genome sequencing, growing healthcare expenditure levels and
development of effective diagnostics & therapeutic procedures for cancer
are responsible for the potential growth of genomics in cancer care.
Browse Details of Report @
http://www.grandviewresearch.com/industry-analysis/genomics-in-cancer-care-market
http://www.grandviewresearch.com/industry-analysis/genomics-in-cancer-care-market
Further key findings from the study suggest:
- Instrument segment dominated the overall market in terms of revenue
share as of 2014 and accounted for 33.4% of market owing to high cost
associated with it. Whereas, consumables are most widely used product
segment in genome testing as they are indispensible component and
frequently required to perform the test.
- Demand for services such as next generation sequencing, PCR and
other such as cancer risk management & genetic testing are expected to
grow over the forecast period due to increasing outsourcing activities to
perform genome analysis. High cost of performing genetic tests and growing
awareness pertaining to associated benefits with the use of these
technologies are high impact rendering drivers for this segment.
- Drug discovery and development segment is expected to show
lucrative CAGR of 17.6% during the forecast period owing to increasing
demand for effective treatment for cancer and growing investment in
biomedicines by manufacturers for the development of novel products.
- Genome sequencing held the dominant share of technology segment as
it is most prominently used for diagnosis due to associate benefits such
as faster and accurate method. It is expected to show significant growth
rate of 17.5% in coming years owing to remarkable decrease in the cost for
genome sequencing and increasing adoption rates.
- The cancer research segment held the largest share of 34.1% in 2014
due to increasing demand for faster & accurate diagnostic methods to
treat variety of cancer. Other use such as commercial adoption of genetic
testing is expected to be fastest growing segment owing to increasing
demand of cancer genomic testing to fulfill unmet needs in healthcare
sector.
- Some key players operating in this market include Beckman Coulter
Inc., Illumina, Inc, Affymetrix, Roche Diagnostics, Agilent Technologies,
Cancer Genetics Inc., Danaher Corporation, Bio-Rad Labs, Pacific
Biosciences, Quest Diagnostics, Sigma Aldrich, Luminex, Thermo Fisher
scientific, Oxford Gene Technology., PerkinElmer, Qiagen, and GE
Healthcare.
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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