Genomic Cancer Testing Market, By Test Type (Genomic Profiling Tests, Liquid Biopsy Tests, Companion Diagnostic Tests, Pharmacogenomic Tests, Hereditary Cancer Tests, Other specialized genomic tests), By Cancer Type (Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Ovarian Cancer, Melanoma, Leukemia, Lymphoma, Other specific cancer types), By Technology (Next-Generation Sequencing (NGS), Polymerase Chain Reaction (PCR), Fluorescence In Situ Hybridization (FISH), Microarray, Immunohistochemistry (IHC), Other genomic testing technologies), By End-User (Hospitals, Diagnostic Laboratories, Academic and Research Institutions, Cancer Centers, Other healthcare providers), By Biomarker Type (Genetic Biomarkers, Protein Biomarkers, Molecular Biomarkers, Epigenetic Biomarkers), By Service Provider (Diagnostic Laboratories, Biotechnology Companies, Pharmaceutical Companies, Contract Research Organizations (CROs)), By Application (Targeted Therapy Selection, Disease Monitoring, Prognostic Testing, Companion Diagnostics, Risk Assessment, Pharmacogenomic Testing), By Testing Setting (In-House Testing, Outsourced Testing), and By Geography (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)- Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030
Genomic cancer testing is a broad term that describes the use of advanced DNA sequencing to look at a tumor and identify unique gene mutations that can help determine how a cancer grows, whether it’s fast-growing or likely to spread. These mutations can guide the selection of treatment options for an individual patient. In a genomic test, the doctor removes a sample of the cancer and then analyzes it at a lab that uses special technology to scan for the mutations using sequencers. This technology looks at all the different ways that a cancer can be mutated, and it can also detect other genetic changes that can impact patient’s risk of developing hereditary cancer syndromes. This testing, often referred to as “large panel genomic tumor testing,” interrogates hundreds and sometimes thousands of genes in a single sample of a tumor. A large panel is often recommended by an oncologist when a patient has a family history of hereditary cancer syndromes or when the patient’s personal and family health history indicates that she is at high risk.
Market Dynamics:
The global genomic cancer testing market is expected to witness promising growth over the forecast period, owing factors such as increasing technological developments, rise in demand for diagnostics, cost-effective diagnostic technology, and growing investments in the pharmaceutical and biotech industries. Along with this increasing R&D activities around development of new treatment approaches are also driving the market growth. Furthermore, the market is likely to witness substantial growth opportunities due to increasing clinical applications, demand for liquid biopsy and non-invasive testing, and integration of big data and AI in testing technology.
However, factors such as lack of clinical evidence, reimbursement issues, and high cost of treatment are the major factors expected to hamper growth of the global genomic cancer testing market over the forecast period.
Key features of the study:
This report provides in-depth analysis of the global genomic cancer testing market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2023–2030), considering 2022 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global genomic cancer testing market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Illumina, Inc., Thermo Fisher Scientific, Inc., Qiagen N.V., F. Hoffmann-La Roche Ltd., Foundation Medicine, Inc. (Roche), Invitae Corporation, NeoGenomics Laboratories, Inc., Myriad Genetics, Inc., Genomic Health, Inc. (Exact Sciences Corporation), Caris Life Sciences, ArcherDX, Inc. (Invitae Corporation), Guardant Health, Inc., Personal Genome Diagnostics Inc., Biocept, Inc., and Tempus Labs, Inc.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global genomic cancer testing market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global genomic cancer testing market
Detailed Segmentation:
Global Genomic Cancer Testing Market, By Test Type:
Genomic Profiling Tests
Liquid Biopsy Tests
Companion Diagnostic Tests
Pharmacogenomic Tests
Hereditary Cancer Tests
Other specialized genomic tests
Global Genomic Cancer Testing Market, By Cancer Type:
Breast Cancer
Lung Cancer
Colorectal Cancer
Prostate Cancer
Ovarian Cancer
Melanoma
Leukemia
Lymphoma
Other specific cancer types
Global Genomic Cancer Testing Market, By Technology:
Next-Generation Sequencing (NGS)
Polymerase Chain Reaction (PCR)
Fluorescence In Situ Hybridization (FISH)
Microarray
Immunohistochemistry (IHC)
Other genomic testing technologies
Global Genomic Cancer Testing Market, By End User:
Hospitals
Diagnostic Laboratories
Academic and Research Institutions
Cancer Centers
Other healthcare providers
Global Genomic Cancer Testing Market, By Biomarker Type:
Genetic Biomarkers
Protein Biomarkers
Molecular Biomarkers
Epigenetic Biomarkers
Global Genomic Cancer Testing Market, By Service Provider:
Diagnostic Laboratories
Biotechnology Companies
Pharmaceutical Companies
Contract Research Organizations (CROs)
Global Genomic Cancer Testing Market, By Application:
Targeted Therapy Selection
Disease Monitoring
Prognostic Testing
Companion Diagnostics
Risk Assessment
Pharmacogenomic Testing
Global Genomic Cancer Testing Market, By Testing Setting:
In-House Testing
Outsourced Testing
Global Genomic Cancer Testing Market, By Region:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Company Profiles:
Illumina, Inc.
Thermo Fisher Scientific, Inc.
Qiagen N.V.
F. Hoffmann-La Roche Ltd.
Foundation Medicine, Inc. (Roche)
Invitae Corporation
NeoGenomics Laboratories, Inc.
Myriad Genetics, Inc.
Genomic Health, Inc. (Exact Sciences Corporation)
Caris Life Sciences
ArcherDX, Inc. (Invitae Corporation)
Guardant Health, Inc.
Personal Genome Diagnostics Inc.
Biocept, Inc.
Tempus Labs, Inc.