According to Nova one advisor, the global genomics in cancer care market size was estimated at USD 19.08 billion in 2023 and is projected to hit around USD 85.63 billion by 2033, growing at a CAGR of 16.2% during the forecast period from 2024 to 2033.
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The increasing number of cancer care is expected to drive the growth of the genomics in cancer care market. The genomics in cancer care market deals with the examination of all variations in gene expression and DNA sequence between healthy host cells and tumor cells to identify the patient’s genetic background to offer better cancer treatment. Genomics in cancer care allows the development of targeted therapies to provide personalized medicines to patients going through several types of cancers, enable drug development and precision medicine research, enhance tumor-specific treatment plans and diagnostic techniques, and detect cancer-causing mutations.
The driving factors behind the market growth are rapidly evolving sectors of medical care and biotechnology, the increasing preference towards personalized medicine, and the increasing global cancer burden. This market leverages advanced genomic technologies to revolutionize cancer prevention, treatment, and diagnosis, with a focus on understanding the genetic makeup of cancer.
Genomics In Cancer Care Market Key Takeaways
- The U.S genomics in cancer care market size was valued at USD 4.95 billion in 2023. The market is anticipated to grow from USD 5.77 billion in 2024 to USD 22.95 billion by 2033, exhibiting a CAGR of 16.6 % during the forecast period.
- North America genomics in cancer care market dominated the market with the revenue share of 37.09% in 2023.
- The genomics in cancer care market in the U.S. accounted for a market share of 26.3% in the global genomics cancer care market in 2023.
- Asia Pacific region is expected to register the fastest CAGR over the forecast period.
- Instruments dominated the market and accounted for a share of 54.86% in 2023.
- The services segment is expected to grow at the fastest CAGR over the forecast period.
- Diagnostics accounted for the largest market revenue share in 2023.
- Drug discovery and development is expected to register the fastest CAGR during the forecast period.
- PCR accounted for the largest market revenue share in 2023.
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The Genomics in Cancer Care Market at a Glance
The increasing research and development activities for the development of new treatment therapies, with rising investment in the pharmaceutical and biotech industries, the rising technological advancements in genome sequencing, the increasing urgent need for targeted and effective treatments and the rising integration of machine learning and artificial intelligence is improving the precision of cancer care and contributed to propel the market growth.
In addition, the increasing government funding for cancer research, rising technological advancements in life sciences including high-throughput sequencing, increasing demand for effective output with low-cost treatment, and growing geriatric population are further anticipated to enhance the growth of the genomics in the cancer care market during the forecast period.
The increasing number of government-funded genome projects fuels market growth.
The increasing number of government-funded genome projects is the vital benefit that has driven the market growth. Various government agencies are investing in genome studies since genomic research is an important instrument that may aid with the production of effective treatments. For example, the Genomic Medicine Service integrated complete genome sequencing into advanced medical treatment. In addition, the France Geno Mique, Personalized Medical Program, Saudi Human Genome Initiative, and other initiatives are instances of similar genomic initiatives. The development of new services and products is helping to increase the preference towards customized medicine. Thus, these factors are expected to drive the growth of the genomics in cancer care market during the forecast period.
However, the market for genomics in cancer care can also face some challenges such as a lack of need for skilled professionals, data privacy concerns, and high cost of genomic testing. Creating the vectors that transport therapeutic genes is the most expensive part of gene therapy research and development. With treatment costs ranging from tens of thousands of dollars to more than a million dollars, gene therapy is currently quite expensive. Thus, these factors are expected to restrain the growth of genomics in cancer care market.
Rising advancements in genomics technology revolutionize market growth.
The rising technological innovations in genomics, especially high-throughput sequencing and NGS platforms, have transformed the ability to interrogate the cancer genome accurately and comprehensively. These technological advancements have significantly made genomic profiling more accessible to healthcare providers and cancer patients worldwide, turnaround time of genomic testing, and reduced cost. In addition, for non-invasive genomic analysis, the increasing adoption of liquid biopsy techniques helps to expand the market growth. Thus, these advanced factors are expected to enhance the growth of the genomics in cancer care market in the coming years.
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Genomics In Cancer Care Market Segments covered
By product type, the instruments segment led the market.
The instruments segment dominated the genomics cancer care market in 2023. To address genomic research needs, various genomics instruments are available. The latest genome sequencers and technological advancements are important in performing whole-genome sequencing more efficiently. These factors contributed to propelling the instruments segment.
By Application, the Diagnostics segment led the market
Diagnostics accounted for the largest market revenue share in 2023. This growth is attributed to increased rare inherited diseases and the need for diagnosis and treatment. The researchers are adopting whole genome sequencing as it has the potential to diagnose the genetic disease quickly. Illumina Inc. reported that 49-75% of pediatric patients who received whole genome sequencing saw a positive change. For instance, a pediatric patient, after seven years of exhaustive futile tests, found a WGS diagnosis to identify a genetic mutation and was diagnosed with eta-propeller protein-associated neurodegeneration (BPAN).
Drug discovery and development is expected to register the fastest CAGR during the forecast period. With the increased prevalence of rare diseases, about 85% of which are ultrarare and affect one in a million individuals, drug discovery and development have become a primary concern for healthcare specialists. For instance, Deep Genomics raised USD 180 million in investments in July 2021 to expand its AI discovery platform and advance its portfolio.
By technology type, the PCR segment led the market.
The PCR segment accounted for the largest market share in 2023. The high prevalence of efforts and cancer to develop more efficient and advanced treatments and solutions is expected to enhance the growth of the PCR segment in the market.
North America dominated genomics in cancer care market in 2023.
The increasing favorable government initiatives to motivate research in the respective field, the rising geriatric population, the increasing prevalence of cancer cases, and rising awareness about the treatment of cancer diseases such as cervical cancer and breast cancer are expected to drive the growth of the market in the region. Various healthcare companies are coming forward to collaborate with institutions and develop the genomics field in the region. The U.S. and Canada are the major countries in the region.
· For instance, In June 2024, cybersecurity company and International medical imaging IT company, Sectra launched a new diagnostic IT module for genomics within molecular pathology. In collaboration with the University of Pennsylvania Health System in the US, this molecular pathology developed. This new solution allows hospitals to predict how cancer patients respond to different treatments based on genomic data.
Asia Pacific is expected to grow fastest during the forecast period.
The growing geriatric population, increasing prevalence of cancer and cancer cases, and the increasing cases of cervical cancer deaths and breast cancer are expected to drive the growth of the genomics in the cancer care market in the region. China, India, Japan, and South Korea are the major countries in the market. In the region, 58% of cancer deaths and one-half of all cancer cases occurred.
For instance, In September 2023, with the National Cancer Centre Singapore (NCCS), a Research Collaboration Agreement (RCA) was signed by Agilent Technologies Inc. The aim behind this launch was to accelerate translational cancer research on the genomic landscape of Asian-prevalent cancers over the next few years.
· For instance, In January 2024, a leader in data-driven medicine and a cloud-native software company, SOPHiA GENETICS announced that a purpose-driven cancer care technology network based in India, Kakkinos Healthcare partnered with SOPHiA GENETICS and SOPHiA DDM Platform to advanced cancer research and testing for solid tumors and blood cancers to underserved areas in low and middle-income countries.
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Genomics In Cancer Care Market Key Company Insights
Some key companies in genomics market of cancer care include- Illumina Inc., Agilent Technologies, Inc, Roche Diagnostics, GE Healthcare, Abbott Laboratories, Bio-Rad Laboratories, Inc. Key companies are involved taking strategic initiatives such as in innovating new products, collaborating with institutions and other industries, and establishing partnerships.
Illumina Inc. is a global genomics and human health company operating in the field of precision medicine. The company offers sequencing and array solutions with a wide portfolio comprising integrated sequencing and microarray systems. The company is taking strategic initiatives to expand its genomics portfolio to deliver solutions in the respective field.
F. Hoffmann-La Roche Ltd is offers diagnostic solutions and develops techniques that cater individual genetic and disease profiles. The company has a wide array of sequencing product portfolio such as sample prep reagents, NGS oncology assays, NGS automation MagNA Pure 96 system, KAPA HyperCap workflow, and KAPA HyperExome V2 Probes.
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Gene Expression Market ; The global gene expression market size was estimated at USD 13.85 billion in 2023 and is projected to hit around USD 37.35 billion by 2033, growing at a CAGR of 37.35% during the forecast period from 2024 to 2033.
Next Generation Sequencing Market: The global next generation sequencing market size was estimated at USD 9.19 billion in 2023 and is projected to hit around USD 66.04 billion by 2033, growing at a CAGR of 21.8% during the forecast period from 2024 to 2033.
Biotechnology Market: The global biotechnology market size was estimated at USD 1.54 Trillion in 2023 and is projected to hit around USD 5.68 Trillion by 2033, growing at a CAGR of 13.95% during the forecast period from 2024 to 2033.
Genomics In Cancer Care Market Top Key Companies:
- Agilent Technologies, Inc.
- F. Hoffmann-La Roche Ltd
- Beckman Coulter, Inc.
- Illumina Inc.
- Abbott
- Cancer Genetic Inc.
- Bio-Rad Laboratories, Inc.
- PacBio
- GE Healthcare
- Quest Diagnostics Incorporated
- PerkinElmer
- Luminex
Major Advancements in Genomics Cancer Care Market
· In October 2023, a clinical laboratory was established as a joint venture between Protean BioDiagnostics Inc. and Arima Genomics, Inc., Aventa Genomics announced the launch of a next-generation sequencing (NGS) test for the detection of gene rearrangements, translocations, and fusions, Aventa FusionPlus. This first clinical application of 3D genomics marked a significant milestone in the journey from allowing genomic discoveries to now assisting therapy selection and patient diagnosis.
· In January 2024, the UK’s first-ever genome testing facility was launched by The Royal Marsden NHS Foundation Trust at the Sharjah Clinical Genomics Laboratory in the National Institute for Health and Care Research’s Centre for Molecular Pathology, Royal Marsden. The aim behind this launch was to increase genomic testing capacity for cancer patients.
Genomics In Cancer Care Market Report Segmentation
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the Genomics In Cancer Care market.
By Product
- Instruments
- Consumables
- Services
By Application
- Diagnostics
- Personalized Medicine
- Drug Discovery & Development
- Research
By Technology
- Genome Sequencing
- PCR
- Microarrays
- Nuclei Acid Extraction And Purification
- Other
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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