Our healthcare experts have found the cancer microbiome sequencing industry to be one of the most rapidly evolving and dynamic markets, and the global market for cancer microbiome sequencing is predicted to grow at a CAGR of 20.01% over the forecast period of 2021-2031. The market is driven by certain factors, including increasing emphasis on the microbiome’s potential in cancer, global increase in cancer prevalence, and decreasing cost of sequencing.
Currently, the cancer microbiome sequencing industry is witnessing an upsurge due to the increasing emphasis on the microbiome’s potential in the field of cancer, global increase in cancer prevalence, and decreasing cost of sequencing. Furthermore, biotechnology companies are focusing on developing cancer microbiome sequencing solutions for applications, including translational research and diagnostics, further supporting researchers and clinicians to unravel insights pertaining to microbiome's influence on cancer manifestation and progression. The development of cancer microbiome sequencing products and services enabled the research community to establish effective strategies for discovering novel cancer biomarkers associated with the microbiome, which could be harnessed for the development of cancer microbiome sequencing products for clinical use.
Cancer Microbiome Sequencing Market is predicted to grow at a CAGR of 20.01% over the forecast period of 2021-2031.
Within the research report, the market is segmented on the basis of offering, application, technology, end users, and region. Each of these segments covers the snapshot of the market over the projected years, the inclination of the market revenue, underlying patterns, and trends by using analytics on the primary and secondary data obtained.
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Competitive Landscape
The exponential rise in the number of cancer cases worldwide has created a buzz among the biotechnology companies to further invest in the development of novel diagnostic tools based on microbiome for supporting physicians to offer early cancer detection. Due to the expansive product portfolio and massive geographical presence, Illumina, Inc. has been the leading player in the cancer microbiome sequencing ecosystem.
On the basis of region, North America holds the largest share of the cancer microbiome sequencing market due to the presence of market leaders such as Illumina, Inc. in the U.S. coupled with the significant adoption of high-fidelity cancer microbiome sequencing products and services for translational research. Further, rising fund infusions by the federal organisations and increasing investments for product development, among others. Apart from this, the Asia-Pacific region is anticipated to grow at the fastest CAGR during the forecast period, 2021-2031. This is majorly attributed to the underlying factors such as an increase in healthcare awareness, steady economy leading to higher focus on research, and widespread adoption of advanced cancer diagnostics, among others.
