Global Cancer Microbiome Sequencing Market Ascends at a Healthy CAGR of 19.92%

Introduction

The global Cancer Microbiome Sequencing Market was valued at USD 185.8 million in 2021 and is projected to reach USD 953 million by 2030, registering a CAGR of 19.92% from 2022 to 2030. 

Market Synopsis

The human microbiome is a collection of microbes that reside in and on the human body and can affect cancer initiation, progression, and treatment response, including immunotherapy. The influence of microbiomes on cancer could lead to improved diagnostics and treatments. It describes the market for microbiome sequencing in cancer. Increasing attention on the microbiome's potential in the field of cancer, global increases in cancer prevalence, and reducing sequencing costs are the primary market drivers for this industry. 

The Global Increase In Cancer Prevalence

The cancer microbiome sequencing sector is seeing growth as a result of the rising emphasis on the microbiome's potential in the field of cancer, the worldwide rise in cancer prevalence, and the declining cost of sequencing. In addition, biotechnology companies are concentrating on the development of cancer microbiome sequencing solutions for applications such as translational research and diagnostics, thereby assisting researchers and clinicians in uncovering information regarding the microbiome's influence on the manifestation and progression of cancer.

Lack of High Complexity Testing Centers

Lack of high-complexity testing centres, particularly in rising and developing nations of Asia-Pacific, the Middle East, and Africa, is impeding market expansion.

In the future, however, an increase in per capita income and government investment will ameliorate the situation.

Focus On Development

Biotechnology firms are concentrating on the development of robust cancer microbiome sequencing solutions for applications such as diagnostics and translational research, thereby assisting end-users in elucidating the complexities of the role of human microbiomes in cancer manifestation and progression. The development of cancer microbiome sequencing products and services by enterprises in conjunction with research institutes is anticipated to provide cancer patients with value-based care in the next years, hence fostering market expansion.

Regional Analysis Of The Global Cancer Microbiome Sequencing Market

The market is split by region into North America, Europe, Asia-Pacific, and LAMEA.

Due to the presence of market leaders like as Illumina, Inc. in the U.S., as well as the high adoption of high-fidelity cancer microbiome sequencing products and services for translational research, North America owns the highest share of the cancer microbiome sequencing market by region. In addition, rising federal funding injections and expanding investments in product development, among others. Aside from this, the Asia-Pacific region is predicted to see the highest CAGR between 2022 and 2030. This is mostly attributable to underlying reasons such as an increase in healthcare knowledge, a stable economy resulting in a greater emphasis on research, and the widespread adoption of improved cancer diagnostics, among others. 

Key Highlights

• The global cancer microbiome sequencing market was valued at USD 185.8 million in 2021 and is projected to reach USD 953 million by 2030, registering a CAGR of 19.92% from 2022 to 2030.
• The market for academic and research institutes is estimated to grow at the highest CAGR during the forecast period
• North America is dominating the global market and is expected to do the same during the forecast period 

Competitive Players

Competitive Players In The Global Cancer Microbiome Sequencing Market

Some major players are Novogene Corporation, Psomagen, PerkinElmer Genomics, Illumina, Thermo Fisher Scientific, Viome, Invivo Diagnostics, Zymo Research Corp, and Metabiomics.

Recent Developments

Recent Developments By Key Players

There have been no developments in the cancer microbiome sequencing market in the last 5 years.

Segmentation

The Global Cancer Microbiome Sequencing Market Segmentation

Market Segmentation

• Offering- Product (Kits and Assays and Software) and Service
• Application- Translational Research and Diagnostics (Colorectal Cancer, Cervical Cancer, Oral Cancer, and Other Cancer Types)
• Technology - Next-Generation Sequencing (Sequencing by Synthesis, Sequencing by Ligation, and Other Next-Generation Sequencing Technologies) and Polymerase Chain Reaction
• End-User - Academic and Research Institutes, Pharmaceutical and Biotechnology Companies, Hospitals and Diagnostic Laboratories, and Other End Users

Regional Segmentation

• North America - U.S., and Canada
• Europe - Germany, France, U.K., Spain, Italy, Switzerland, and Rest-of-Europe
• Asia-Pacific - China, Japan, India, Australia, South Korea, Singapore, and Rest-of-Asia-Pacific
• Latin America - Brazil, Mexico, and Rest-of-Latin America
• Rest-of-the-World