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Rising prevalence of cancer is a major factor driving market revenue growth
VANCOUVER, BRITISH COLUMBIA, CANADA, May 9, 2023 /EINPresswire.com/ — The global cancer microbiome market size was USD 222.79 Million in 2022 and is expected to register a steady revenue CAGR of 19.9% during the forecast period, according to latest analysis by Emergen Research. Rising prevalence of cancer is a major factor driving market revenue growth. Microbiome is a collection of bacteria that live in and on human body, which have potential to affect initiation, progression, and treatment response of cancer, including cancer immunotherapy.
In addition, increasing integration of immunotherapeutic methods with intracellular microbial environment is another factor driving revenue growth of the market. Effect of microbiomes on cancer may inspire development of innovative diagnostic and treatment modalities.Moreover, public awareness about relationship between cancer genetics and intracellular microbiota is also expected to drive market revenue growth during the forecast period.
Market Size – USD 222.79 Million in 2022, Market Growth – at a CAGR of 19.9%, Market Trends – Increasing Research & Development (R&D) activities for developing novel approaches to effective metagenomic strategies.
Some Key Highlights from the Report
The Next Generation Sequencing (NGS) segment is expected to register fastest revenue growth rate in the global cancer microbiome market over the forecast period. This is due to increasing use of NGS in metagenomic cancer applications. NGS technology has improved the understanding of human microbiome by characterizing and allowing previously unknown microbes and predict their activities.
The hospitals segment is expected to account for largest revenue share in the global cancer microbiome market over the forecast period. This is attributed to increasing number of patients due to prevalence of cancer. Hospitals are well-equipped with advanced metagenomic microbial screening technologies and kits, which increases likelihood of cancer microbiome detection and use of tailored modalities, which are abundant in hospitals.
The North America market accounted for largest revenue share in the global cancer microbiome market during the forecast period. This is due to increasing presence of various companies involved in manufacturing of microbiome sequencing kits in this region. Companies in the biotechnology sector are currently concentrating their efforts for development of credible cancer microbiome sequencing methods for uses such as diagnostics and translational research. These solutions are designed to aid end users in their endeavor to gain a better understanding of complexity involved in contribution of human microbiomes to development and manifestation of cancer.
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Leading Players Profiled in the Report:
CD Genomics, Eurofins Scientific, Illumina, Inc., Prescient Medicine Holdings, Inc., Micronoma Inc., Novogene Co., Ltd., Oxford Nanopore Technologies plc., Pacific Biosciences of California, Inc., QIAGEN N.V., and Thermo Fisher Scientific Inc
Segmental Analysis
The global Cancer Microbiome market is broadly segmented on the basis of different product types, application range, end-use industries, key regions, and an intensely competitive landscape. This section of the report is solely targeted at readers looking to select the most appropriate and lucrative segments of the Cancer Microbiome sector in a strategic manner.
The segmental analysis also helps companies interested in this sector make optimal business decisions and achieve their desired goals.
Techniques Outlook (Revenue, USD Million; 2019-2032)
Next Generation Sequencing
Polymerase Chain Reaction
Others
End-use Outlook (Revenue, USD Million; 2019-2032)
Hospitals
Clinic
Others
Key geographical areas:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter2. Executive Summary
2.1. Summary Snapshot, 2023–2032
Chapter3. Key Insights
Chapter4. Cancer Microbiome Market Segmentation & Impact Analysis
4.1. Cancer Microbiome Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers’ analysis
4.2.2.1. Increasing prevalence of cancer worldwide
4.2.2.2. Increasing research activities conducted globally
4.2.3. Market restraints analysis
4.2.3.1. Insufficient high complexity testing facilities
PRIMARY RESEARCH MODEL
Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts. Discussions with the subject matter experts were conducted to obtain quantitative and qualitative information and validate our market research findings.
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