Growing focus on the microbiome’s potential in the field of cancers to drive the cancer microbiome sequencing market in the forecast period, 2023-2027.
According to TechSci Research report, “Cancer Microbiome Sequencing Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global cancer microbiome sequencing market is anticipated to grow at a significant rate in the forecast period, 2023-2027. The decreasing cost of sequencing, growing occurrences of cancer, and rising investments in microbiome research are the primary factors driving the demand for the global cancer microbiome sequencing market. The rising number of patients with cancer, rise in R&D activities, upsurge in development of novel diagnostic tools based on microbiome for supporting physicians, increasing healthcare expenditure, and growing awareness of the use of microbiome sequencing technology are expected to influence the market demand. Also, the rising adoption of inorganic growth strategies and growth world population also a key factor for increasing the growth of the cancer microbiome sequencing market, globally.
However, the lack of high complexity testing centers in markets, regulatory challenges for direct-to-consumer (DTC) companies, and existing diagnostic confidence on conventional cancer diagnostics may hamper the growth of the global cancer microbiome sequencing market.
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The global cancer microbiome sequencing market is segmented into component, technology, application, end user, and company.
Based on component, the market is divided into kits & assays, software, and services. The kits & assays segment is anticipated to grow during the forecast period. This is attributed to the increasing number of cases of cancers and the launch of new and advanced assay and kits.
Based on technology, the market is divided into next generation sequencing and polymerase chain reaction. The next generation sequencing segment is anticipated to grow during the forecast period. This is attributed to the rise in adoption of next-generation sequencing in clinical oncology to advance tailored cancer treatment.
Based on application, the market is divided into translational research and clinical diagnostics. The translational research segment is anticipated to grow during the forecast period. This is attributed to the growing R&D activities and heavy investments in research field.
Based on end user, the market is divided into biotechnology & pharmaceutical companies, academic & research institutions, hospitals & clinics, and others. The hospitals & clinics segment is anticipated to grow during the forecast period. This is attributed to the majority of the sequencing test takes place in laboratories for detecting various diseases.
Major companies operating in global cancer microbiome sequencing market are:
- Illumina, Inc.
- Eurofins Scientific SE
- QIAGEN NV
- Thermo Fischer Scientific, Inc.
- Oxford Nanopore Technologies plc.
- OraSure Technologies, Inc.
- Pacific Biosciences of California, Inc.
- Psomagen, Inc
- Prescient Medicine Holdings, Inc.
- Micronoma Inc.
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“North America region dominates the market in 2021 and is expected to maintain its dominance in the coming years due to the rise in the adoption of highly advanced techniques and systems. The upsurge in research and development activities, the presence of market leaders, substantial adoption of high-fidelity cancer microbiome sequencing products and services for translational research, rising fund infusions by the federal organizations, and growing cases of cancer in the region are expected to propel the global cancer microbiome sequencing market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Cancer Microbiome Sequencing Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, Segmented By Component (Kits & Assays, Software, Services), By Technology (Next Generation Sequencing v/s Polymerase Chain Reaction), By Application (Translational Research v/s Clinical Diagnostics), By End User (Biotechnology & Pharmaceutical Companies, Academic & Research Institutions, Hospitals & Clinics, Others), By company and By Region”, has evaluated the future growth potential of global cancer microbiome sequencing market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global cancer microbiome sequencing market.
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