Cancer Microbiome Sequencing Market Size, Share & Trends Analysis Report By Application (Translational Research and Diagnostics), By Technology (Next-Generation Sequencing, Polymerase Chain Reaction), By End-User (Academic and Research Institutes, Pharmaceutical and Biotechnology Companies, Hospitals and Diagnostic Laboratories) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2022-2030

Market Overview

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.

Market Dynamics

Global Cancer Microbiome Sequencing Market Drivers

• The global increase in cancer prevalence

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.

Global Cancer Microbiome Sequencing Market Restraints

• Lack of High Complexity Testing Centers

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.

Global Cancer Microbiome Sequencing Market Opportunity

• Focus on development

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.

Regional Analysis

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

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.

Segmental Analysis

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.

Impact of covid-19

Covid-19 had some profound adverse impacts on the global advanced ceramics market.

COVID-19 spread across the world from China, making the whole world stand still and to a complete lockdown situation. Covid-19 is an infectious disease that was caused by a newly discovered coronavirus. During the time, the fatality rate among the population above 40 was also high globally. The disease causes severe illness for people suffering from medical conditions like diabetes, cardiovascular disease, chronic respiratory disease, etc.

Considering the situation during that time, it was declared a pandemic which led to numerous countries, including the major economies like China, the United States, India, and others, implementing lockdowns which adversely affected the global economy.

In the first two quarters of 2020, the economic and industrial operations temporarily halted. Almost every manufacturing unit where advanced ceramics is used, such as electrical and electronics, transportation, industrial, chemical, and other End-user Industries (except medical), reduced their manufacturing capacities due to the lack of workers. The lockdown implemented put a halt to global supply chains. This resulted in repercussions in terms of both production and demand for advanced ceramics.

Market Recovery Timeline and Challenges

With time the lockdowns were uplifted, and relaxation was made to the public. Gradually, the economy picked up the pace and started its operations, bringing the demand in the global advanced ceramics market and increasing among various industries. As the situation improved during the initial months of 2021, the economies also strengthened their fiscal policies and initiated their development process; the end-user industries began their activities, bringing the overall ceramics market back on track.

Recent Developments

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