Cancer Genomic Testing Market Critical Insights, Trends and Forecast till 2031
Posted by AayushFMR on March 18th, 2021
Cancer genomic testing is a newer field of genetics which is used to diagnose the different type of cancer. Cancer genomic testing is completely different from genetic testing, because during genomic testing all of patient gene is being tested. Alteration or mutation of genes is the key cancer causing factor. During the cancer genomic testing, the alteration or mutation of gene is being tested. Cancer genomic testing is typically done by collecting the blood sample of the patient. Cancer genomic testing helps to identify the risk of cancer for particular patient. Moreover, cancer genomic testing able to predict the behavior of tumor. Cancer genomic testing also helps to understand metastasize of cancer and type of mutation. Cancer genomic testing is more widely performed for the detection of breast and lung cancer.
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Cancer Genomic Testing Market: Drivers and Restraints
The increasing prevalence of breast cancer and lung cancer is primary factor driving the growth of the cancer genomic testing market over the forecast period. Also, the rise in awareness campaign by the NGO’s about cancer will upsurge the revenue growth of cancer genomic testing market. Moreover, the emphasis of the leading manufacturer to develop novel methods for the cancer genomic testing will upsurge the revenue growth of cancer genomic testing market over the forecast period. On the other hand, stringent regulatory scenario by FDA may hamper the growth of cancer genomic testing. Beside that lower awareness among the people in under developing economies about the cancer genomic testing may also deter the growth of cancer genomic testing market.
Cancer Genomic Testing Market: Segmentation
Tentatively, the global cancer genomic testing market can be segmented on the basis of cancer type, end user and geography.
Based on cancer type, the global cancer genomic testing market is segmented as:
Based on distribution channel, the global cancer genomic testing market is segmented as:
Cancer Genomic Testing Market: Overview
The rising prevalence of cancer is the key factor driving the growth of cancer genomic testing market over the forecast period. According to American Cancer Society, 1.7 million women were diagnosed with breast cancer in U.S. during 2012. Also, according to World Cancer Research Fund, 2 million new cases of breast cancer were diagnosed in 2018. Hence, breast cancer segment will gain the majority of revenue share by cancer type of cancer genomic testing market due to rising prevalence of breast cancer throughout the globe. By end user, hospitals and diagnostic center will collectively gain majority of revenue share of cancer genomic testing market by end user.
Cancer Genomic Testing Market: Regional Outlook
North America is the most lucrative market for cancer genomic testing due to high awareness among the people in U.S. and Canada about cancer genomic testing. Europe is the second most lucrative region for the cancer genomic testing market due to rising prevalence of breast cancer in BENELUX. Asia-Pacific is the fastest growing region for cancer genomic testing market owing to rise in patient pool suffering from obesity in countries like in India, China, and Japan. Latin America and the Middle East Africa region are the least lucrative for cancer genomic testing market due to lack of awareness among the population about the cancer genomic testing.
Cancer Genomic Testing Market: Key Players
Some of the key players operating in the global Cancer Genomic Testing Market are Myriad Genetics, Inc., CENTOGENE AG, Color Genomics, Quest Diagnostics, Inc., 23andMe Inc., Gene by Gene Ltd., Laboratory Corporation of America Holdings, Positive Bioscience, Bio Rad Laboratories Inc., Illumina, Inc., Agilent Technologies Inc., Thermo Fisher Scientific Inc. and others.
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About the AuthorAayushFMR
Joined: January 19th, 2021
Articles Posted: 295
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