New Study: Cancer Genome Sequencing Market Huge Growth Worldwide By 2023
Cancer Genome Sequencing Market: Snapshot
In past few years, the genomic period of cancer studies has been growing significantly. This growth is credited to advent of new-aged sequencing technology, representing exquisite sensitivity and resolution. Frequent changes in their net chromosomal structure through deletion, amplification, or alteration in the structure, creates a distinct feature of cancer genome. These gene mutation or alterations ultimately results into cancer onset and progression.
The global cancer genome sequencing market is segmented on the basis of technology, and region. On the basis of technology, the market is classified into second generation technology and third generation technology. The second generation technology is divided into SOLiD sequencing (by ABI), Pyro-sequencing (by Roche), and Bridge amplification sequencing technology (by Illumina). The third generation technology segment is sub-segmented into Ion semiconductor sequencing, Single Molecule Real Time (SMRT) sequencing (by Pacific Biosciences), Nanopore sequencing (by Oxford), and fluorescent resonant energy transfer (FRET) sequencing (by VisiGen biotechnologies).
Cancer Genome Sequencing Market: Trends and Opportunities
Regulations related to customized cancer sequencing are primarily taken care by the accreditation of the labs performing the sequencing analysis and services, and also the usage of FDA approved tests for performing these tests. Factors supporting cancer genome sequencing encompass comprehensive view of whole genome, ability to majority of mutations, and eliminating the need for having any knowledge beforehand about the patient history and current illness status. Such potential growth factors are estimated to fuel the demand for gene sequencing-based personalized tumor treatment in the future years. Immense procedural expenses and time consuming interpretation of large datasets are among the major obstructions for the market. An alternative to the whole genome sequencing is the focused gene sequencing methodology that is comparative less expensive, with convenient results interpretation and high sensitivity regarding rare clones.
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Cancer Genome Sequencing Market: Regional Outlook
Geographically, the market is segmented into Europe, North America, Asia Pacific and Rest of the World. North America market comprise of Canada and the U.S. which represent the major revenue contribution, due to rising inclination towards gene therapy-based cancer treatment. The region is trailed by Europe that has also initiated various genome-based studies in cancer. An analysis conducted by Genomics England Ltd. in year 2014, stated that the U.K. is likely to become the world leader in genetic research into cancer and rare diseases after a grant of USD 473.3 million by Prime Minister of U.K. Asia Pacific and Rest of the World are still in initial stage due to the requirement for high basic investment on lab set-up and conducting these research activity. However the Asia Pacific market is foreseen to grow in the coming years due to availability of strength in information technology and its growing economy, along with skilled and scientific-based manpower.
Cancer Genome Sequencing Market: Competitive Landscape
Beckman Coulter Genomics, Illumina, Inc., SeqWright, Pacific Biosciences, BGI Americas Corporation, Foundation Medicine, and Ambry Genetics are some of the key players lading the global cancer genome sequencing market.
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