The Genomic Cancer Testing Market is expected to witness a strong In Upcoming Years. The ongoing trend speaks of digital transformation. In other words, it’s about the provision of digital solutions being tabled all across. The big thing is that the key stakeholders can’t afford to keep digital technology in a silo. Unification is the need of the hour so that anytime-anywhere access is possible. The enterprise is slated to move with the same mindset in the forecast period.
Next-generation sequencing is the new method that is currently used for DNA sequencing. For instance, In 2019 Veracyte announced the introduction of Percepta Genomic Sequencing Classifier (GSC) for lung cancer. This identifies any modification in the genome related to lung cancer with the help of machine learning in former smokers. This is accomplished using a simple brushing of the person’s airway.
Another driver is the prevalence of lung cancer, breast cancer. According to a WHO report, 1.8 billion deaths were caused by lung cancer and 2.26 million new cases of breast cancer were diagnosed in 2020. These cancers can be treated if they are diagnosed at an early stage. This can be achieved with genomic testing and hence acts as market drivers.
An increase in the awareness about cancer treatments and R & D investment by the companies for developing new techniques and acquiring other companies is expected to increase demand for genomic cancer testing during the forecast period.
- Illumina Inc.
- Personal Genome Diagnostics Inc.
- Veracyte
- Pacific Biosciences of California Inc.
- Qiagen
- Thermo Fisher Scientific
- Agilent Technologies Inc.
- Astronics Company
- Natera Inc.
- F. Hoffmann-La Roche Ltd
- Bio Rad Laboratories Inc.
- Myriad Genetics Inc.
Another region that is expected to dominate the market is Asia. This is due to advancements in the DNA sequencing technique, an increase in life science research and new players in the market. Apart from this, according to a report published by Pfizer, the prevalence of cancer in Asia is 3 times more than that of the US. This acts as a technological driver for the region to advance their techniques for a better outcome.
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Key Segments:
By Technique
- Fluorescence in situ hybridization (FISH)
- Polymerase chain reaction (PCR)
- Microarray technology
- Serum proteomics
- Nucleic acid sequencing
By Indication
- Lung cancer
- Breast cancer
- Colon cancer
- Prostate cancer
By End-user
- Hospitals
- Speciality clinics
- Research institutes
- Diagnostics laboratories
- Biopharmaceutical companies
By Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa
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