Genomics in Cancer Care Market - Industry Analysis, Market Size, Share, Trends, Growth And Forecast 2022 - 2027

Report Code: HCR 0616 Report Format: PDF + Excel

Genomics in Cancer Care Market Overview

Genomics in Cancer Care Market Size is estimated to reach $39.7 billion by 2027. Furthermore, it is poised to grow at a CAGR of 14.8% over the forecast period of 2022-2027. Genome is made up of the DNA contained within the cell. Cancer is a collection of hereditary disorders caused by alterations in the genome of body cells, causing them to develop out of control. DNA mutations in the genome are involved in these alterations. As cells divide and replicate again, they are continually looking for and correcting mutations in our DNA. However, certain mutations do get past our cell’s repair mechanisms on rare occasions, and these mutations can lead to cancer. Polymerase chain reaction, Genome sequencing, Gene expression, DNA microarray, Nucleic acid extraction is commonly used in the diagnosis of cancer. The genomic sequences of thousands of cancer samples from various cancer types have now been identified by the Cancer Genome Atlas in the United States and the Catalogue of Somatic Mutations (COSMIC) in the United Kingdom. These studies have revealed that certain tumours share mutations in the same gene group, despite the fact that they may have originated in separate organs. Many of the mutations either activate genes that promote cell development or break genes that restrict cell growth.

The growing prevalence of cancer and resistance to conventional treatments are some of the factors driving the Genomics in Cancer Care Market growth during the forecast period 2022-2027.

Genomics in Cancer Care Market Report Coverage

The report: “Genomics in Cancer Care Market Forecast (2022-2027)", by Industry ARC covers an in-depth analysis of the following segments of Genomics in Cancer Care Market.

By Type – Instruments, Consumables, Services.
By Technology - Genome sequencing, purification and nucleic acid extraction, microarray, bioinformatics, and flow cytometry.
By Application - Diagnostics, personalized machines, drug discovery, development, and research.
By End Users - Hospitals, academic researchers, and clinical procedures.
By Geography - North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), and Rest of the World (the Middle East, and Africa).

Key Takeaways

  • The growing prevalence of cancer is estimated to drive the market growth of Genomics in Cancer Care Market. The high cost of Genomics in Cancer Care poses threat to market growth.
  • A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Genomics in Cancer Care Market Report.

 Genomics in Cancer Care Market: Market Share (%) by region, 2021

Genomics in Cancer Care Market

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Genomics in Cancer Care Market Segmentation Analysis- By Technology

Genomics in Cancer Care Market based on technology can be further segmented into Prothrombin Genome sequencing, purification and nucleic acid extraction, microarray, bioinformatics, and flow cytometry. Genome sequencing held a dominant market share in the year 2022 and is estimated to be the fastest-growing, with a CAGR of 15.1% over the forecast period of 2022-2027. Genome sequencing is a great tool for unravelling the mystery of genetic variation between people. It's the process of defining a DNA sequence, or the order of nucleotides in a DNA molecule (adenine, thymine, guanine, and cytosine). Whole-genome sequencing (WGS) is a laboratory procedure that generates a detailed map of a person's whole genetic code, allowing all genes to be examined.

According to NCBI 2018, large-scale cancer genome sequencing is resulting in significant breakthroughs in understanding the cancer genome. Many unique basic genetic processes controlling cancer origin, development, and maintenance have been discovered owing to the large range of cancer types sequenced and evaluated utilizing these methods. For instance, In February 2022, C2i Genomics, a cancer intelligence firm, and Twist Bioscience Corporation, a business that helps clients thrive by providing high-quality synthetic DNA through its silicon platform, have announced a collaboration to generate whole-genome cancer reference materials. Hence, the Genome sequencing segment dominates the market.

Genomics in Cancer Care Market Segmentation Analysis- By Application

 Genomics in Cancer Care Market based diagnostics can be further segmented into Diagnostics, personalized machines, drug discovery, development, and research. Diagnostics held a dominant market share in the year 2022 and is estimated to be the fastest-growing, with a CAGR of 15.2% over the forecast period of 2022-2027 owing to increasing genes involved in cancer treatment and resistance. For instance, If the tumour has a large number of Her2neu receptors each of which is a key indicator for treatment options. Now, genomics is giving researchers the capacity to go much deeper into a tumour’s DNA alterations and to compare or differ from those seen in other tumours. As a result, people are looking for new medications.

According to National Human Genome Research Institute 2020, unfortunately, certain cancers are more difficult to assess since examining their genomes needs invasive and unpleasant biopsies or surgeries involving the removal of small pieces of cancer tissue for examination. This also makes it more difficult for physicians to track how well various cancer treatments are working since repeated biopsies aren't possible. Instead of directly sampling the tumour, recent advancements now allow the detection of circulating tumour DNA (or ctDNA) in the blood of patients. When cancer cells divide rapidly and die, part of their DNA is released into circulation. Now also have assays sensitive enough to identify and sequence these fragments of ctDNA in the circulation apart from the patient's normal DNA - this is referred to as a ctDNA isolation test. Hence, the diagnostics segment dominates the market through gene sequencing.

Genomics in Cancer Care Market Segmentation Analysis- By Geography

Genomics in Cancer Care Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held a dominant market share of 36% in the year 2021 as compared to the other counterparts on account of the growing biotech sector and the high degree of patient awareness. According to National Cancer Institute, in 2019, the number of cancer survivors in the United States was expected to be 16.9 million. By 2030, the number of cancer survivors is expected to rise to 22.2 million.

However, Asia-Pacific is estimated to be the fastest-growing, with a CAGR of 11.7% over the forecast period of 2022-2027 owing to the government's ongoing support, unexplored market prospects, and enhanced healthcare infrastructure. 

Genomics in Cancer Care Market Drivers

The Increasing resistance to Existing Treatments for Cancer is driving the Market for Genomics in Cancer Care

According to National Cancer Institute 2020, almost all existing therapies have the same issue: they eventually stop functioning for many people. Drug resistance, as it is commonly called, is one of the most difficult challenges facing cancer researchers and patients today. When cancer cells become resistant to the effects of therapy medications, they can multiply and rebuild tumours, which is referred to as recurrence or relapse. Resistance can develop fast, often within weeks after commencing therapy. In other circumstances, it takes months or even years to manifest.

When cancer cells even a small group of cells inside a tumour have genetic modifications that render them insensitive to a specific medicine before treatment even begins, resistance can develop. Since cancer cells within the same tumour frequently contain a range of molecular alterations, this is referred to as "mutational cancer." According to CDC 2019, The number of new cases of cancer (cancer incidence) is 439.2 per 100,000 men and women per year (based on 2011–2015 cases). According to NCBI 2018, in addition to conventional therapy, gene therapy targeting faulty genes such as TP53 (tumour suppressor gene encodes for p53) and KRAS (oncogene) in CRC can be an alternative treatment option, thereby, driving the market growth.

The Increasing Prevalence of Cancer is Driving the Market for Genomics in Cancer Care

The rising number of cancer cases is likely to increase the need for enhanced cancer diagnostics and treatment alternatives. According to Globocan 2020, a total of 19,292,789 new cancer cases were diagnosed globally, with roughly 9,958,133 cancer-related deaths. Furthermore, according to the International Agency for Research on Cancer (IARC), the global cancer incidence is anticipated to increase to 27.5 million new cases and 16.3 million deaths by 2040. Hence, the rising prevalence of cancer is one of the key driving factors in the Market.

Genomics in Cancer Care Market Challenges

The High Cost of Genomics in Cancer Care is a Challenge for Genomics in Cancer Care Industry

Cancer is a hereditary condition that occurs when normal cells malfunction and lose their regular safety checks as a result of checkpoint regulator mutations or the acquisition of novel capabilities that induce uncontrollable proliferation. Gene therapy is currently exceedingly expensive, with treatment costs ranging from hundreds of thousands of dollars to over a million dollars. The most expensive part of gene therapy research and development is creating the vectors that transport the therapeutic genes. This can cost anywhere from $500,000 to $1 million. Gene therapy has quickly risen to the top of the list of the most promising new medical breakthroughs of our time. It provides a number of benefits over traditional therapies, including the ability to administer a single dose rather than a series of treatments and a higher specificity than standard chemotherapy.

According to Oncobites 2020, Gene therapy is currently quite expensive, with treatment costs ranging from tens of thousands of dollars to more than a million dollars. As a novel therapy paradigm (while showing significant promise in clinical trials), its real-world effectiveness is unclear, thus payers (both public and commercial insurance) are hesitant to pay the high cost of gene treatments. Hence, the cost of treatment is estimated to restrain the market.

Genomics in Cancer Care Industry Outlook

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in Genomics in Cancer Care Market. The top 10- Genomics in Cancer Care Market companies are-

  1. Pacific Biosciences Inc.
  2. ThermoFisher Scientific Inc.
  3. Agilent Technologies
  4. Illumina Inc.
  5. Intrexon Bioinformatics Germany GmbH
  6. Abbott Molecular
  7. Affymetrix and Illumina, Inc.
  8. Beckman Coulter, Inc.
  9. NeoGenomics
  10. Cancer Genetics, Inc.

Recent Developments

  • In March 2022, Illumina has released its TruSight oncology test, which evaluates several tumour genes and biomarkers. The CE-marked TruSight test, analyses tumour genes and biomarkers to disclose a patient's cancer's distinct molecular profile, which can assist influence precision medicine decisions.
  • In June 2020, NeoGenomics, a leading supplier of cancer-focused genetic testing services, announced the availability of three liquid biopsy tests for advanced non-small cell lung cancer, all solid tumour types (pan-cancer), and some breast cancer patients. NeoGenomics estimates that physicians now rely on these new tests which use peripheral blood to detect treatment targets and prognostic indicators, and the three new assays have a turnaround time of seven days or less, which can save physicians time in crucial instances compared to tissue testing.
  • In April 2019, Pacific Biosciences of California Inc., the leading provider of high-quality sequencing of genomes, transcriptomes and epigenomes, announced the commercial launch of the Sequel® II System. The Sequel® II System; is the premier provider of high-quality genome, transcriptome, and epigenome sequencing. The SMRT® Cell 8M, as well as chemistry, instrument control software, and the SMRT Link software package, are all included in the system.

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1. Genomics in Cancer Care Market- Overview
    1.1 Definitions and Scope
2. Genomics in Cancer Care Market- Executive Summary
3. Genomics in Cancer Care Market- Comparative Analysis
    3.1 Company Benchmarking - Key Companies
    3.2 Global Financial Analysis - Key Companies
    3.3 Market Share Analysis - Key Companies
    3.4 Patent Analysis
    3.5 Pricing Analysis
4. Genomics in Cancer Care Market- Startup Companies Scenario Premium
    4.1 Key Startup Company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Venture Capital and Funding Scenario
5. Genomics in Cancer Care Market– Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Case Studies of Successful Ventures
6. Genomics in Cancer Care Market- Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porters Five Force Model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Genomics in Cancer Care Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Genomics in Cancer Care Market– By Type
    8.1 Instruments
    8.2 Consumables
    8.3 Services
9. Genomics in Cancer Care Market– By Technology
    9.1 Genome sequencing
    9.2 Purification and nucleic acid extraction
    9.3 Microarray
    9.4 Bioinformatics
    9.5 Flow cytometry
10. Genomics in Cancer Care Market– By Application
    10.1 Diagnostics
    10.2 Personalized machines
    10.3 Drug discovery
    10.4 Development
    10.5 Research
11. Genomics in Cancer Care Market– By End User
    11.1 Hospitals
    11.2 Academic researchers
    11.3 Clinical procedures
12. Genomics in Cancer Care Market- By Geography
    12.1 North America
        12.1.1 U.S.
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 U.K.
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 Spain
        12.2.6 Russia
        12.2.7 Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 India
        12.3.3 Japan
        12.3.4 South Korea
        12.3.5 Australia & New Zealand
        12.3.6 Rest of Asia-Pacific
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Chile
        12.4.4 Colombia
        12.4.3 Rest of South America
    12.5 Rest of the World
        12.5.1 Middle East
        12.5.2 Africa
13. Genomics in Cancer Care Market- Entropy
14. Genomics in Cancer Care Market– Industry/Segment Competition Landscape Premium 
    14.1 Market Share Analysis
        14.1.1 Global Market Share – Key Companies
        14.1.2 Market Share by Region – Key companies
        14.1.3 Market Share by Countries – Key Companies
    14.2 Competition Matrix
    14.3 Best Practices for Companies
15. Genomics in Cancer Care Market– Key Company List by Country Premium Premium
16. Genomics in Cancer Care Market- Company Analysis
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10
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