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
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).
- Geographically, North America held a dominant market share in the year 2022 on account of the increasing prevalence of cancer. Asia-Pacific is estimated to offer lucrative growth opportunities to the manufacturers owing to the increasing prevalence of cancer, demand for better healthcare facilities as well as a boost in the investments done by government and private companies in cancer care. The proliferation of mortality owing to cancer is predicted to augment the market growth during the forecast period of 2022-2027.
- 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
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Genomics in Cancer Care Market Segmentation Analysis- By Technology
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
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.
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
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
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
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
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
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-
- Pacific Biosciences Inc.
- ThermoFisher Scientific Inc.
- Agilent Technologies
- Illumina Inc.
- Intrexon Bioinformatics Germany GmbH
- Abbott Molecular
- Affymetrix and Illumina, Inc.
- Beckman Coulter, Inc.
- Cancer Genetics, Inc.
- 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.
Genomics Market - Forecast(2022 - 2027)
Report Code: HCR 0027