Published Year: 2019
Global Molecular Diagnostics Point of Care Market: Focus on Application, Technology, Type, End User,
The global molecular diagnostic point of care industry analysis by BIS Research projects the...
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Report Description
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Market Report Coverage - Global Tumor Genomics Market |
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Base Year |
2019 |
Market Size by 2019 |
$8,131.0 Million |
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Forecast Period |
2019-2028 |
Value Estimation by 2028 |
$16,287.2 Million |
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CAGR During Forecast Period |
8.09% |
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Market Segmentation |
• By Product: Assays and Kits, and Instruments • By Technique: Next Generation Sequencing Technique (NGS), Polymerase Chain Reaction (PCR), Microarray, In-Situ Hybridization (ISH) Immunohistochemistry (ICH), Others (Mass Spectrometry and Flow Cytometry) • By Application: Diagnostics and Monitoring, Drug Discovery and Development, and Biomarker Discovery • By End User: Academics and Research Organizations, Hospitals and Ambulatory Clinics, Clinical and Diagnostic Laboratories, and Biotechnology and Pharmaceutical Company • By Cancer Type: Leukemia, Breast Cancer, Melanoma, Colon Cancer, Lung Cancer, Prostate Cancer, Head and Neck Cancer, and Others (ovarian, pancreatic, and testicular) |
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Regional Segmentation |
• North America – U.S., Canada • Europe – Germany, United Kingdom, France, Italy, Spain, Netherlands, Rest-of-Europe Switzerland, Belgium, and Denmark) • Asia-Pacific – Japan, China, Australia, India, Rest-of-Asia-Pacific (South Korea, North Korea, and New Zealand) • Rest-of-the-World – (Latin America and Middle East & Africa)
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Key Companies Profiled |
Thermo Fisher Scientific Inc., Illumina, Inc., QIAGEN, Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche Ltd, Merck KGaA, Pacific Biosciences of California, Inc., NeoGenomics Laboratories, Inc., Myriad Genetics, Inc., and PerkinElmer. |
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Market Segmentation
Market Outlook By Product
The global tumor genomics market by product is segmented on the basis of assays and kits, and instruments. Assays and kits segment accounted for maximum market share in 2019 and it is expected to contribute the most 2028 as well. The growth of assays and kits segment can be attributed to the rising utilization of assays and kits for the detection of tumor stages and genetic diseases.
By Technique
Based on technique the market is segmented into next generation sequencing technique (NGS), polymerase chain reaction (PCR), microarray, in-situ hybridization (ISH) immunohistochemistry (ICH), and others (mass spectrometry and flow cytometry). The growth of PCR segment due to its key properties such as ease of use, better results, faster turnaround time, and offering cost-effective solutions.
By Application
The application segment of the market is further sub-segmented into diagnostics and monitoring, drug discovery and development, and biomarker discovery. The growth of diagnostics and research segment can be attributed due to the increasing utilization of various genomic techniques (specifically NGS and ISH) in order to diagnose various forms of cancer (leukemia and colorectal cancer). However, the drug discovery and development segment is expected to register an impressive CAGR during the forecast period 2020-2028.
By End User
The end user segment of the tumor genomics market is further categorized into academics and research organizations, hospitals and ambulatory clinics, clinical and diagnostic laboratories, and biotechnology and pharmaceutical company.
By Cancer Type
Leukemia, Breast Cancer, Melanoma, Colon Cancer, Lung Cancer, Prostate Cancer, Head and Neck Cancer, and Others (ovarian, pancreatic, and testicular)
By Region
On the basis of region, global tumor genomics market has been classified as four regions namely, North America, Europe, Asia-Pacific, and Rest-of-the-World (Latin America and Middle East & Africa). The market has been divided based on the present market status and future market potential of a geographical region. Among all the geographical regions of the world, North America demonstrates the highest potential for the expansion and growth of the genomics market which is estimated to grow exponentially in the upcoming years.
Market Overview
Market Overview - Global Tumor Genomics Market
Several companies are investing in the assays, kits, and instruments used in tumor genomics. Nowadays, large number of kits and reagents are used to test the profiling of mutated genes. For instance, companies such as Thermo Fisher Scientific, Illumina, Inc., and QIAGEN N.V. have focused on the development of variety of kits for the detection of rare genetic diseases due to cost-effectiveness of the kit as compared to instrument and software, which in turn is causing widespread utilization of kits globally.
The market is favored by multiple factors, which include rising government initiatives, increasing incidence of cancer, therefore increasing the utilization of sequencing to identify the mutant DNA segments, increasing number of product approvals and launches pertaining to genomics market. Moreover, increasing use of biomarkers in cancer profiling is also one of the key driving factors for tumor genomics market.
Government funding is also one of the major growth factors for tumor genomics market, because increasing funding by the government help the research institutes to develop sequencing systems useful for the diagnosis of genetic diseases. Increasing funding shall lead to liquidity of the genomics market and thus companies shall develop various sequencing systems to identify the mutation in the segments of DNA. All these factors are thus expected to contribute to the market growth during the forecast period.
Within the research report, the market is segmented on the basis of product type, techniques, application, end user, cancer type, and region, which highlight value propositions and business models useful for industry leaders and stakeholders. The research also comprises country-level analysis, go-to-market strategies of leading players, future opportunities, among others, to detail the scope and provide a 360-coverage of the domain.
According to the market intelligence by BIS Research, the global tumor genomics market was estimated at $ 8.13 Billion and is expected to grow 8.09% during the forecast period from 2019-2028.
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Market Dynamics |
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Growth Drivers |
• Rising Government Initiatives and Projects • Increasing Incidence of Cancer • Increasing Number of Product Approvals and Launches • Ever Expanding Application Areas for Genomics • Increasing Use of Biomarkers in Cancer Profiling |
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Market Challenges |
• High Cost of Genomic Equipment • Lack of Unified Framework for Data Integration |
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Market Opportunities |
• Growing Prominence for Precision Medicine • Increasing Demand for Point-of-Care Diagnostics |
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Growth Factors
- Increasing incidence of cancer: The global incidence of cancer is continuously on the rise due to the factors such as growing public inclination toward smoking and several occupational risk factors including chemicals and radioactive materials. The most common types of cancers included breast cancer, lung cancer, prostate cancer, colon, and rectum cancer.
- Increasing number of product approvals and launches: A substantial number of products by the leading manufacturers in the market are being approved for use in humans. Also, several manufacturers are also launching innovative products to expand their offerings in the market.
- Ever expanding application areas for genomics: Continuous development in the areas of cancer has increased its applicability in several areas such as clinical trials, drug development, and diagnosis of various forms of cancer. Researchers are using novel genomic technologies to identify the mutant genes responsible for cancer. Products in this market are also being used for the identification of risk factors associated with cancers and genetic disorders.
Global Tumor Genomics Market
Focus On Products, Techniques, Applications, End User, Cancer Type, 14 Countries Data, Industry Insights And Competitive Landscape - Analysis And Forecast, 2019-2028
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