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. A collection of bacteria that live in and on the human body is referred to as the human microbiome. These bacteria have the potential to affect the initiation, progression, and treatment response of cancer, including cancer immunotherapy. The influence of microbiomes on cancer could result in the development of new diagnostic and treatment methods. It establishes the parameters of the market for sequencing the cancer microbiome. The rising awareness of the potential of the microbiome to play a role in the treatment of cancer, the rising prevalence of cancer around the world, and the falling cost of sequencing are the three primary factors that are driving this industry.
Get more information on this report Download Sample Report
The sequencing of cancer microbiomes is experiencing a boom right now as a result of a number of factors, including the growing awareness of the role that the microbiome could play in the treatment of cancer, the rising incidence of cancer around the world, and the falling cost of sequencing. Additionally, biotechnology companies are concentrating their efforts on developing cancer microbiome sequencing solutions for applications such as translational research and diagnostics. This will provide researchers and clinicians with additional support in their efforts to uncover insights regarding the microbiome's influence on the manifestation and progression of cancer.
The expansion of the market is being hampered by the absence of high-complexity testing centres, particularly in the emerging and developing nations of Asia Pacific, the Middle East, and Africa.
The situation will get better in the future thanks to increased per capita income as well as increased government investment in this area.
The development of reliable cancer microbiome sequencing solutions for applications such as diagnostics and translational research is currently a primary focus of companies in the biotechnology industry. These solutions are intended to provide additional assistance to end-users in their efforts to learn more about the complexities associated with the role of human microbiomes in the manifestation and progression of cancer. In the approaching years, it is anticipated that the development of cancer microbiome sequencing products and services by the companies in conjunction with research institutes would provide value-based care to cancer patients, which will generate an opportunity for market expansion.
By End User, the market for academic and research institutes is estimated to grow at the highest CAGR during the forecast period
By End User, In the year 2020, hospitals and diagnostic laboratories held the lion's share of the market due to the highest number of sequencing tests that were carried out in laboratories to diagnose a variety of disorders. On the other hand, it appears that academics and research will have the most rapid expansion between the years 2022 and 2030. This occurs as a result of an increase in the number of studies conducted to obtain information regarding the microbiome on a level that is more complicated.
The market is split by region into North America, Europe, Asia-Pacific, and LAMEA.
Regional Growth Insights Request Sample Pages
Due to the presence of market leaders such as Illumina, Inc. in the United States, as well as the significant adoption of high-fidelity cancer microbiome sequencing products and services for translational research, North America holds the largest share of the market for cancer microbiome sequencing when broken down by region. Additionally, increased financial infusions by federal entities as well as increasing investments for product development, amongst other factors. Aside from this, it is projected that growth in the Asia-Pacific area would occur at the highest CAGR throughout the course of the forecast period (2022-2030). This can be largely due to the underlying factors, which include an increase in healthcare knowledge, a stable economy that has led to a greater concentration on research, and the widespread adoption of improved cancer diagnostics, amongst other things.
Some major players are Novogene Corporation, Psomagen, PerkinElmer Genomics, Illumina, Thermo Fisher Scientific, Viome, Invivo Diagnostics, Zymo Research Corp, and Metabiomics.
There have been no developments in the cancer microbiome sequencing market in the last 5 years.