Transparency Market Research has discussed the key factors attributed to the growth of the global genomics in cancer care market in “Genomics in Cancer Care Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024,” where it is explained how each major and minor factor concerning the current market scenario is bound to affect it in the years to come.
The primary driver for the global genomics in cancer care market is its massive scope of use in the field of cancer diagnostics. The prevalence of cancer is increasing at an alarming rate and medical solutions are low in number. There is a great need for accurate and fast diagnostic procedures in correlation to the growing number of cancer patients, thus propelling the demand for genomics in cancer care.
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The applications of the global genomics in cancer care market include research and development, drug discovery, personalized machines, and diagnostics. The end users of the global genomics in cancer care market include a few key segments, of which the segment of research holds a leading prominence in terms of market value. There is a very positive scope of growth for the global genomics in cancer care market and its various applications in the diagnosis and detection of cancer.
Geographically speaking, the global genomics in cancer care market has consistently been dominated by North America owing to its advanced level of research and development in the biotechnology industry. At the same time, this region holds a larger patient pool that is aware of the benefits of using genomics in cancer care, thereby fuelling the demand for these products. At the same time, Asia Pacific offers a great chance at growth for all globally prominent players in the global genomics in cancer care market, owing to a vast number of untapped regions and a rapidly evolving healthcare sector.
Of the few challenges that affect the growth of players in the global genomics in cancer care market, a primary challenge is the rate at which the discovery of uncommon genetic alterations is progressing. This is because the entirety of study in the global genomics in cancer care market has already found a vast number of genetic abnormalities in single cancer types. This is creating a greater complication in finding a feasible cure for cancer in the long run.
The key players in the global genomics in cancer care market include Abbott Molecular, Affymetrix and Illumina, Inc., Danaher Corporation, General Electric Healthcare, Agilent Technologies, Beckman Coulter, Inc., Luminex, Oxford Gene Technology, Pacific Biosciences, PerkinElmer, Bio-Rad Labs, Cancer Genetics, Inc., Roche Diagnostics, and Thermo Fisher Scientific.
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