Global Cancer Genome Sequencing Market was valued at USD 0.8 Billion in 2022 and is projected to reach USD 1.9 Billion by 2030, growing at a CAGR of 11.4% from 2024 to 2030.
The cancer genome sequencing market has rapidly expanded in recent years, driven by advancements in genomic technologies and the increasing demand for personalized cancer treatments. As the prevalence of cancer continues to rise globally, the need for accurate, high-resolution tools to understand genetic mutations has never been more critical. Cancer genome sequencing allows for the identification of specific genetic alterations that can inform treatment plans, offering patients a more tailored approach to therapy. With an estimated growth rate of 15% annually, the market for cancer genome sequencing is set to reach new heights in the coming decade.
Key players in this market, such as Illumina, Thermo Fisher, and Roche, are investing heavily in research and development to expand the scope of genome sequencing. The integration of next-generation sequencing (NGS) technologies has played a crucial role in the market's growth, offering unprecedented accuracy and efficiency. Moreover, the decreasing costs of sequencing have made it more accessible for both clinical and research applications.
In addition to technological advancements, rising government investments in cancer research and the growing prevalence of cancer worldwide are also driving the market. According to the World Health Organization (WHO), cancer is responsible for nearly 10 million deaths annually, underscoring the urgent need for effective diagnostic tools. As more healthcare providers and research institutions adopt cancer genome sequencing, the market is witnessing significant shifts in how cancer is diagnosed and treated.
The application of cancer genome sequencing extends beyond diagnosis and treatment. It plays a pivotal role in understanding cancer's genetic basis, aiding in the development of new drugs and therapies. With the promise of personalized medicine, cancer genome sequencing is at the forefront of revolutionizing how we approach cancer care, leading to more effective and targeted therapies.
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Agilent Technologies
GE Healthcare Life Sciences
Johnson & Johnson
LI-COR Biosciences
Abbott Laboratories
Beckman Coulter
Bayer Corporation
Hamilton Thorne Biosciences
Integrated DNA Technologies
Microchip Biotechnologies
Myriad Genetics
Commonwealth Biotechnologies
ZS Genetics
Pacific Biosciences
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Cancer Genome Sequencing Market
Treatment
Research
Based on Types the Market is categorized into Below types that held the largest Cancer Genome Sequencing market share In 2023.
Second generation
Third generation
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Global, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Cancer Genome Sequencing Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Cancer Genome Sequencing Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Cancer Genome Sequencing Market, By Type
6. Global Cancer Genome Sequencing Market, By Application
7. Global Cancer Genome Sequencing Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Cancer Genome Sequencing Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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