Latest Report On Genomics In Cancer Care Market By Grand View Research Suggest Growth At CAGR Of 17.4% Till 2022

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New Market Research Reports Title Global Genomics In Cancer Care Market Analysis Size And Segment Forecasts To 2022 Has Been Added to Report Database

Global genomics in cancer care market is estimated to grow at a CAGR of 17.4% from 2015 to 2022. Its valuation would reach USD 9.21 billion by 2022. Escalating cases of cancer are fueling demand for diagnostics that are not only accurate but also cost-effective. Technological advancements in this field are also driving growth. Biotechnology and pharmaceutical industries are pumping funds into research and development of novel treatment approaches.

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Global levels of healthcare expenditure have risen. Genome sequencing is now more affordable. The demand for personalized medicine in molecular characterization of cancer is also growing. These factors are having a positive effect on market growth.

The global genomics in cancer care market is classified as per products, applications, technologies, and regions. Main product segments are consumables, instruments and services. Instruments, with about 34% of the total revenues, were the dominant segment in 2014. Technological innovations are proving beneficial to this segment. Consumables (e.g. biomarkers, reagents) led the market in terms of volumes in 2014. Services would grow at a considerable rate owing to increasing awareness of various diagnosis and treatment options.

Chief applications include personalized medicine, research, diagnostics, and drug discovery & development. Diagnostics was the most common application in 2014. High incidence of cancer and rising demand for accurate and fast molecular diagnostic techniques were the main reasons. Drug discovery & development should grow at a CAGR of 17.5% over the next seven years.

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Technologies are split into microarrays, genome sequencing, nucleic acid extraction & purification, PCR (polymerase chain reaction), and other. Genome sequencing, with a revenue share of 24%, assumed leadership position in 2014. It would also grow at the fastest rate in forthcoming years. Demand for PCR and microarrays could be buoyed by expanding biotechnological applications in diagnostics. Introduction of technologically superior instruments is also a contributor.

There are five main regional segments viz. North America, Europe, Asia Pacific, Latin America, and MEA (Middle East & Africa). North America occupied the largest share of revenues in 2014. Asia Pacific is anticipated to exhibit robust growth owing to untapped opportunities, improving healthcare infrastructure, and government support.

Important global players are Roche Diagnostics, Illumina Inc., Beckman Coulter Inc., and Danaher Corporation. Other well-known participants are Cancer Genetics Inc., Bio-Rad Labs, Quest Diagnostics, and Sigma Aldrich Corporation. The market is fiercely competitive. Collaborations, mergers and acquisitions are some of the commonly-adopted business strategies. 

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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