A new report by Transparency Market Research (TMR), titled “Personalized Cancer Genome Sequencing Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016–2024”, presents elaborate insights into key market dynamics, prominent trends, recent technology advances, innovations, lucrative prospects, and the competitive landscape.
Relentless research in genetic engineering and the rising popularity of next generation genome sequencing in oncology in various parts of the world are striking trends supporting the evolution of the market. The rise in prevalence of various cancer types among populations in various developing and developed regions is a crucial factor catalyzing the growth of the personalized cancer genome sequencing market. The rising use of cost-effective next-generation sequencing to guide the search for personalized therapies is a notable trend that will aid in the robust growth of the market.
Constant and rapid advancements in genomic sequencing methods will continue to fuel the growth of the market in the coming years. The growing number of clinical trials to unearth the potential of personalized cancer genome sequencing method is a welcome trend that will accentuate the global market in the years to come.
Geographically, North America, led by the U.S., is expected to contribute substantial revenues in the global market. In addition, Europe is a prominent market expected to witness substantial developments in personalized cancer genome sequencing methods in the coming years. The presence of a robust healthcare infrastructure backed by vigorous governmental funding in various countries of North America accounts for its prominence. Furthermore, stringent regulatory norms in these regions may be a promising avenue in the disguise of challenges for market players to capitalize on.
Meanwhile, Asia Pacific is an attractive regional market expected to witness substantial technology developments in the market in the next few years. Rising healthcare spends in various parts of the region and a booming medical tourism in countries such as India and China are significant factors boosting this regional market.
Key players operating in the personalized cancer genome sequencing market include BGI Americas Corporation, Cofactor Genomics, Illumina, Inc., Beckman Coulter Genomics, and Ambry Genetics.
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