Genomic Cancer Testing Market Insights on the Impact of Genomic Profiling and Biomarker Discovery on Personalized Oncology

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Genomic Cancer Testing Market - (By Test Type (Genomic Profiling Tests, Liquid Biopsy Tests, Companion Diagnostic Tests, Pharmacogenomic Tests, Hereditary Cancer Tests, Other specialized genomic tests), By Cancer Type (Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Ovarian Cancer, Melanoma, Leukemia, Lymphoma, Other specific cancer types), By Technology (Next-Generation Sequencing (NGS), Polymerase Chain Reaction (PCR), Fluorescence In Situ Hybridization (FISH), Microarray, Immunohistochemistry (IHC), Other genomic testing technologies), By End-User (Hospitals, Diagnostic Laboratories, Academic and Research Institutions, Cancer Centers, Other healthcare providers), By Biomarker Type (Genetic Biomarkers, Protein Biomarkers, Molecular Biomarkers, Epigenetic Biomarkers), By Service Provider (Diagnostic Laboratories, Biotechnology Companies, Pharmaceutical Companies, Contract Research Organizations (CROs)), By Application (Targeted Therapy Selection, Disease Monitoring, Prognostic Testing, Companion Diagnostics, Risk Assessment, Pharmacogenomic Testing), By Testing Setting (In-House Testing, Outsourced Testing)), Trends, Industry Competition Analysis, Revenue and Forecast To 2034."

According to the latest research by InsightAce Analytic, the Global Genomic Cancer Testing Market is valued at USD 18.47 billion in 2024, and it is expected to reach USD 86.13 billion by the year 2034, with a CAGR of 16.8% during the forecast period of 2025-2034.

Get Free Access to Demo Report, Excel Pivot and ToC: https://www.insightaceanalytic.com/request-sample/2267

Genomic cancer testing is an advanced diagnostic approach that examines a patient's DNA to identify genetic mutations and abnormalities associated with cancer development. This methodology enables oncologists to gain comprehensive insights into the molecular profile of tumors, facilitating the formulation of personalized treatment strategies, including targeted therapies and immunotherapies, thereby enhancing clinical outcomes and minimizing adverse effects. In addition, genomic testing plays a critical role in predicting disease prognosis and evaluating the risk of cancer recurrence.

A transformative advancement in this field is next-generation sequencing (NGS), which has significantly improved the efficiency, accuracy, and affordability of genomic analysis in clinical practice. As a result, genetic testing is increasingly utilized to detect mutations linked to hereditary cancers, such as those affecting the breast, ovaries, colon, uterus, thyroid, and kidneys. According to projections from the American Cancer Society, approximately 21.6 million new cancer cases are expected worldwide by 2030, highlighting the growing significance of genomic testing in enabling precise diagnoses and guiding the development of individualized therapeutic interventions.

List of Prominent Players in the Genomic Cancer Testing Market:
• Illumina, Inc.
• Thermo Fisher Scientific, Inc.
• Qiagen N.V.
• F. Hoffmann-La Roche Ltd.
• Foundation Medicine, Inc. (Roche)
• Invitae Corporation
• NeoGenomics Laboratories, Inc.
• Myriad Genetics, Inc.
• Genomic Health, Inc. (Exact Sciences Corporation)
• Caris Life Sciences
• ArcherDX, Inc. (Invitae Corporation)
• Guardant Health, Inc.
• Personal Genome Diagnostics Inc.
• Biocept, Inc.,
• Tempus Labs, Inc.
• Danaher
• PerkinElmer
• Agilent Technologies, Inc
• Quest Diagnostics
• Luminex Corporation
• Others

Expert Knowledge, Just a Click Away: https://calendly.com/insightaceanalytic/30min?month=2025-01

Market Dynamics
Drivers:
The escalating global prevalence of cancer is a primary factor driving demand for advanced genomic cancer testing, as healthcare providers increasingly rely on precise diagnostic tools to understand tumor biology and tailor individualized treatment regimens. As cancer incidence rises, the requirement for genetic testing expands correspondingly, supporting the projected growth of the global genomic cancer testing market. This diagnostic approach is a cornerstone of personalized medicine, enabling therapy customization based on the genetic profile of a patient's tumor. Widespread adoption of personalized treatment strategies is expected to further reinforce the uptake of genomic cancer testing across clinical environments.

Challenges:
Despite its clinical utility, the broader implementation of genomic cancer testing is constrained by substantial cost considerations. The high expense associated with advanced genomic technologies limits accessibility for both providers and patients, restricting market penetration. Additionally, the interpretation of genomic data can be complicated by variants of uncertain clinical significance, which may impede healthcare professionals' ability to make definitive treatment decisions. These factors are likely to temper market growth during the forecast period.

Regional Trends:
North America is projected to retain a dominant position in the genomic cancer testing market, supported by its advanced healthcare infrastructure and technological capabilities. The region's well-established health information technology (HIT) ecosystem facilitates the integration of genomic data into electronic health records (EHRs), enhancing collaboration among laboratories, clinicians, and patients. High healthcare expenditures, coupled with ongoing investments in research, innovation, and medical infrastructure, provide a strong foundation for the adoption and expansion of genomic testing solutions throughout the region.

Unlock Your GTM Strategy: https://www.insightaceanalytic.com/customisation/2267

Recent Developments:
• In Jan 2022, Illumina, Inc. established a long-term collaboration with Agendia N.V. to jointly create in vitro diagnostic (IVD) assays specifically designed for oncology testing. The objective of the cooperation is to promote the utilization of next-generation sequencing for decentralized oncology testing. This matches with Illumina's strategy of forming in vitro diagnostic (IVD) partnerships in the field of oncology.
• In December 2021, Denovo Biopharma and Qiagen N.V. announced a collaboration to create a companion diagnostic test for treating diffuse large B-cell lymphoma. It is expected that the agreement will increase both businesses' revenue.

Segmentation of Genomic Cancer Testing Market-
By Test Type-
• Genomic Profiling Tests
• Liquid Biopsy Tests
• Companion Diagnostic Tests
• Pharmacogenomic Tests
• Hereditary Cancer Tests
• Other specialized genomic tests
By Cancer Type-
• Breast Cancer
• Lung Cancer
• Colorectal Cancer
• Prostate Cancer
• Ovarian Cancer
• Melanoma
• Leukaemia
• Lymphoma
• Other specific cancer types
By Technology-
• Next-Generation Sequencing (NGS)
• Polymerase Chain Reaction (PCR)
• Fluorescence In Situ Hybridization (FISH)
• Microarray
• Immunohistochemistry (IHC)
• Other genomic testing technologies
By End-User-
• Hospitals
• Diagnostic Laboratories
• Academic and Research Institutions
• Cancer Centers
• Other healthcare providers
By Biomarker Type-
• Genetic Biomarkers
• Protein Biomarkers
• Molecular Biomarkers
• Epigenetic Biomarkers
By Service Provider-
• Diagnostic Laboratories
• Biotechnology Companies
• Pharmaceutical Companies
• Contract Research Organizations (CROs)
By Application-
• Targeted Therapy Selection
• Disease Monitoring
• Prognostic Testing
• Companion Diagnostics
• Risk Assessment
• Pharmacogenomic Testing
By Testing Setting-
• In-House Testing
• Outsourced Testing
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

Read Overview Report- https://www.insightaceanalytic.com/report/genomic-cancer-testing-market/2267

About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

Contact us:
InsightAce Analytic Pvt. Ltd.
Visit: https://www.insightaceanalytic.com/
Tel : +1 607 400-7072
Asia: +91 79 72967118
info@insightaceanalytic.com

This release was published on openPR.