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.
With the increasing focus on early-stage cancer screening, research communities and the companies involved in the field of microbiome sequencing are significantly investing in expanding their respective product and service mix. Significant strides in advancing sequencing technologies and computational tools have facilitated an increasing number of cancer microbiome studies to be performed worldwide. These studies have provided key insights into the cancer microbiome and its underlying micro-environment, which is further harnessed by researchers, clinicians, and companies to develop novel solutions for detecting early-stage cancer. As the next frontier of precision medicine, the global cancer microbiome sequencing market showcases enormous potential to completely revolutionize the field of cancer diagnostics.
The cancer microbiome sequencing market 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.
Market Share Analysis, 2019–2020
With the ever-expanding knowledge being extracted from the microbiome and revelations regarding its impactful role in cancer progression, cancer microbiome research constitutes an exciting area of next-generation diagnostics. Rapid technological developments and their simultaneous adoption among major companies have made the global cancer microbiome sequencing market one of the most lucrative opportunities for major companies within the precision care biosphere as a lot of companies can be seen coming up with their focus only on developing microbiome-based cancer diagnostics
Impact of COVID-19 on the Global Cancer Microbiome Sequencing Market
The current global cancer microbiome sequencing market study comprises products and services that are utilized to analyze microbiome-associated biomarkers for cancer screening. Since the market is primarily dominated by translational research, the COVID-19 pandemic had a high impact on the growth or revenue generated from the market. The market assessment has considered information given by key opinion leaders in the market from both supply and demand sides
The BIS Research report on the global cancer microbiome sequencing market segments the market on the basis of:
- offering (products and services)
- application (translational research and diagnostics)
- technology (next generation sequencing and polymerase chain reaction)
- end use (academic and research institutes, pharmaceutical and biotechnology companies, hospitals and diagnostic laboratories, and other end users)
- region (North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World)
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 organizations 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.
Key Companies Profiled
CD Genomics, Eurofins Scientific, GoodGut, Illumina, Inc., Prescient Medicine Holdings, Inc., Micronoma Inc., Novogene Co., Ltd., Oxford Nanopore Technologies plc., OraSure Technologies, Inc., Pacific Biosciences of California, Inc., Psomagen, Inc., QIAGEN N.V., Thermo Fisher Scientific Inc., Viome, Inc., Zymo Research Corporation.
Key Questions Answered in this Report:
• How is cancer microbiome sequencing revolutionizing the field of oncology?
• What are the major market drivers, challenges, and opportunities in the global cancer microbiome sequencing market?
• What are the underlying structures resulting in the emerging trends within the global cancer microbiome sequencing market?
• How did the COVID-19 pandemic impact the global cancer microbiome sequencing ecosystem?
• What are the key development strategies that are being implemented by the major players in order to sustain themselves in the competitive market?
• What are the key regulatory implications in developed and developing regions pertaining to the use of cancer microbiome sequencing?
• What are the potential entry barriers, which are expected to be faced by the companies willing to enter a particular region?
• How is each segment of the market expected to grow during the forecast period 2021-2031, and what is the anticipated revenue to be generated by each of the segments? Following are the segments:
o Offering (product and service)
o Application (translational research and diagnostics)
o Technology (next-generation sequencing and polymerase chain reaction)
o End User (academic and research institutes, pharmaceutical and biotechnology companies, hospitals and diagnostic laboratories, and other end users)
o Region (North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World)
• What are the growth opportunities for the cancer microbiome sequencing companies in the region of their operation?
• Who are the leading players with significant offerings in the global cancer microbiome sequencing market?
• Which companies are anticipated to be highly disruptive in the future, and why?
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The report constitutes an in-depth study of the global cancer microbiome sequencing market. The study also presents a detailed analysis of the market dynamics and estimation of the market size over the forecast period, 2021-2031.
The scope of this report is focused on the analysis of the cancer microbiome sequencing market by offering, application, technology, end user, and region.
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