Genomics in Cancer Care Market Driven by Increased Number of R&D Activities

Cancer continues to be the cause of a prominent chunk of deaths across the world and the number of patients continues to mount each year. A number of R&D activities are underway to find a cure for cancer and consequently, the market for genomics in cancer care is prospering. According to a recent business publication by Transparency Market Research (TMR), the demand in the global genomics in cancer care market will expand at a formidable CAGR during the forecast period of 2016 to 2024. The report, titled “Genomics in Cancer Care Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024,” is a comprehensive and quantitative study of the market, showcasing how the demand has evolved in the recent past and where it is headed in the near future.

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Some of the key factors augmenting the demand in the global genomics in cancer care market are: escalating demand for diagnostic equipment along with the advent of technologically advanced methods that are cost efficient too. In addition to that, increased investment by the vendors of biotechnology and pharmaceutical companies to device new treatment therapies and growing demand for personalized medicine are some of the other factors driving the demand in the global genomics in cancer care market.

Technology-wise, the market can be segmented into polymerase chain reaction (PCR), genome sequencing, nucleic acid extraction & purification, microarray, flow cytometry, and bioinformatics, whereas on the basis of products, the market for genomics in cancer care can be bifurcated into instruments, consumables, and services. Application-wise, the market can be classified into academic research, research studies, and hospitals.

Roche Diagnostics, Agilent Technologies, Bio-Rad Labs, Affymetrix, Sigma Aldrich Corporation, Illumina, Inc, Cancer Genetics Inc., Beckman Coulter Inc., Danaher Corporation, and Pacific Biosciences are a few notable players in this market.

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