Market Research Report
Genomics in Cancer Care Market - Growth, Trends And Forecast (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||927883|
|Published||Content info||117 Pages
Delivery time: 2-3 business days
|Genomics in Cancer Care Market - Growth, Trends And Forecast (2020 - 2025)|
|Published: March 1, 2020||Content info: 117 Pages||
The Genomics in Cancer Care Market is expected to register a CAGR of 17.5% during the forecast period. High prevalence of cancer and developing technology related to cancer care is expected to be the major factors to propel the market growth. Cancer is considered as the leading cause of death. According to the World Health Organization, in 2018, almost 9.6 million death were caused due to cancer worldwide. Moreover, every one out of six death is because of cancer. However, high cost of procedures involved may obstruct the market growth.
Gene Sequencing Segment is Expected to Hold a Major Market Share in the Genomics in Cancer Care Market
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America expected to hold a major market share in the global genomics in cancer care market due to higher incidence rates of cancer disease and the initiatives taken by government and other organizations related to genomics cancer. According to the National Cancer Institutes, in 2018 the incidence rate for cancer in the United States was around 1,735,350. Furthermore, National Cancer Institutes has established a program "Cancer Genome Atlas Programme". It is the database wherein around 2.5 petabytes of data is stored related to genomics. This further is being used for cancer diagnosis and treatment development. Hence, this factor is expected to boost the genomics in cancer care market growth.
Companies are adopting growth strategies such as collaborations, mergers and acquisition. For instance, Roche Diagnostics partnered with Illumina, Inc., for the development of assays and next generation sequencing with respect to cancer. Some of the companies which are currently dominating the market are Illumina Inc., ThermoFisher Scientific Inc., Agilent Technologies, Cancer Genetics Inc., GE Healthcare, Intrexon Bioinformatics Germany GmbH, Quest Diagnostics, Roche Diagnostics, Merck KGaA and Pacific Biosciences, Inc.