Genomics In Cancer Care Market To Reach $50.97 Billion By 2030

Genomics In Cancer Care Market Growth & Trends

The global genomics in cancer care market size is expected to reach USD 50.97 billion by 2030, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 16.0% from 2024 to 2030. Increasing prevalence of cancer coupled with adoption of next generation sequencing for the diagnosis & treatment is expected to fuel the market with future growth opportunities. Increasing incidences of cancer triggers the demand for cost effective and accurate diagnostics in coming years. 

In addition, increasing demand for personalized medicines in molecular characterization of cancer to identify therapeutic targets is the factor attributing towards the market growth. Similarly, factors such as cost reduction in genome sequencing, growing healthcare expenditure levels and development of effective diagnostics & therapeutic procedures for cancer are responsible for the potential growth of genomics in cancer care. 

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Genomics In Cancer Care Market Report Highlights

• Instrument segment dominated the overall market in terms of revenue share as of 2023 and accounted for 54.8% of market owing to high cost associated with it. Whereas, consumables are most widely used product segment in genome testing as they are indispensible component and frequently required to perform the test.

• Demand for services such as next generation sequencing, PCR and other such as cancer risk management & genetic testing are expected to grow over the forecast period due to increasing outsourcing activities to perform genome analysis. High cost of performing genetic tests and growing awareness pertaining to associated benefits with the use of these technologies are high impact rendering drivers for this segment.

• Drug discovery and development segment is expected to show lucrative CAGR of 18.5% during the forecast period owing to increasing demand for effective treatment for cancer and growing investment in biomedicines by manufacturers for the development of novel products.

Genomics In Cancer Care Market Segmentation

Grand View Research has segmented the global genomics in cancer care market report based on product, application, technology, and region

Genomics In Cancer Care Product Outlook (Revenue, USD Million, 2018 - 2030)

• Instruments

• Consumables

• Services

Genomics In Cancer Care Application Outlook (Revenue, USD Million, 2018 - 2030)

• Diagnostics

• Personalized Medicine

• Drug Discovery & Development

• Research

Genomics In Cancer Care Technology Outlook (Revenue, USD Million, 2018 - 2030)

• Genome Sequencing

• PCR

• Microarrays

• Nuclei Acid Extraction And Purification

• Other

Genomics In Cancer Care Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

• Latin America

  • Brazil

• Middle East and Africa (MEA)

  • KSA

  • UAE

  • South Africa

List of Key Players of Genomics In Cancer Care Market

• 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