DUBLIN--(BUSINESS WIRE)--The "Genomics in Cancer Care Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Genomics in Cancer Care market is expected to register a CAGR of 12.5% over the forecast period.
- PerkinElmer Inc.
- Merck KGaA
- QIAGEN NV
- Abbott Laboratories (Alere Inc.)
- Quidel Corporation
- Hologic Inc.
- Thermo Fisher Scientific Inc.
- bioMerieux SA
- Becton, Dickinson and Company
- Bio-Rad Laboratories Inc.
- Abcam PLC
- Danaher Corporation
- F. Hoffmann-La Roche AG
- Siemens AG
- Chembio Diagnostic Systems, Inc.
Key Market Trends
Genome Sequencing Segment is Expected to Hold a Major Market Share in the Genomics in Cancer Care Market
Emerging technology related to genome sequencing is expected to fuel market growth. Next-Generation sequencing is a novel method having wide application in oncology. The sequencing of DNA and RNA helps in detecting and analyzing the modifiers, mutation analysis, and pharmacogenetics of biopsy.
In the advent of the COVID-19 pandemic, in May 2020, Genomics England partnered with the GenOMICC consortium, which was led by the University of Edinburgh. This partnership was aimed at identifying and analyzing the whole genome sequences of nearly 35,000 COVID-19 infected patients with symptoms ranging from mild to severe. The Genomics England, UK Research and Innovation, the Department of Health and Social Care, and the National Institute for Health Research offered a fund of around GBP 28 million for this project in which Illumina was involved in sequencing all 35,000 genomes. Hence, the genome sequencing segment is expected to significantly grow during the COVID-19 pandemic.
Additionally, as per the research article published in Trends in Cancer, 2019, DNA sequencing and other -omics have been harnessed to study the genetic aberrations of human cancers to obtain information that aids in increasing precision in assigning drugs to patients. For instance, the development of targeted treatments which include small molecule therapeutics targeting specific gene mutations, such as imatinib for c-KIT gene mutation in Chronic Myeloid Leukemia and Gastrointestinal Stromal Tumors. Also, in Aug 2020, AncestryHealth based on Next Generation Sequencing was launched by Ancestry, with an intention to help customers gain awareness into their health and risk factors, as it acts as a vital tool to screen genes associated with breast cancer, heart disease, colon cancer, and blood disorders. Hence, the growing investment in the research and development activities of genome sequencing, along with the novel product launches is expected to aid in the healthy growth of the studied segment over the forecast period.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period
North America is 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 the government and other organizations related to genomics cancer. According to the Globocan 2020 report, an estimated 2,281,658 new cancer cases were diagnosed in the United States in 2020, with nearly 612,390 deaths. In 2020, The most common cancers were breast (253,465), lung (227,875), prostate (209,512), and colon (101,809) in the United States.
Also, various government bodies, like NHGRI (National Human Genome Research Institute, United States), have been supporting research related to human genome sequencing, while funding research related to the genome's structure, function, and role in health and disease. Moreover, these organizations support studies on the ethical, legal, and social implications of genome research.
Furthermore, in September 2019, Ontario Institute for Cancer Research (OICR), Thermo Fisher Scientific, and Genome Canada collaborated to develop next-generation sequencing assays and analysis software to specifically target pancreatic, prostate, and breast cancer. In April 2020, Genome Canada launched the Canadian COVID Genomics Network (CanCOGeN), a newly formed initiative backed by funding of USD 40 million and led by Genome Canada, in partnership with the six regional Genome Centres, national and provincial public health labs, genome sequencing centers through, hospitals, universities and the private sector, in which the CanCOGeN had planned to scale up genomics-based COVID-19 research in Canada.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Burden of Cancer
4.2.2 Initiatives taken by Companies in Product Development
4.2.3 Speed, Accuracy and Potential Replacement for Traditional Technologies to Spur Market Growth
4.3 Market Restraints
4.3.1 Interpretation of Complex Data and Lack of Skilled Professionals
4.3.2 High Cost of Instruments and Procedures
4.4 Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Product Type
5.2 By Technology
5.2.3 Genome Sequencing
5.3.1 North America
5.3.4 Middle East and Africa
5.3.5 South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/i1ok8k