The global somatic genetic testing market is projected to reach $16.79 billion by 2030,according to CRI’s new report. The study also highlights that the market is set to witness a CAGR of 9.30% during the period between 2020 and 2030.
The comprehensive study of the global somatic genetic testing market extensively covers the following:
• Market numbers on micro-segments that are influencing the market
• More than 300 products present in the market
• Evaluation of over 25 brands
• Market share analysis for more than 20 product categories
• End-user preference data for over 50 end users
• Detailed global and regional market share analysis including the scrutiny of more than 15 countries
• Study of data of more than 30 companies
Besides these parameters, the study also encompasses the market growth drivers, opportunities, market restraining factors, competition mapping, segmental analysis, and a visual dashboard of 250+ products.
This report indicates that the global increase in cancer prevalence, rising consumer awareness for tailored cancer therapies, decreasing cost of sequencing, and increasing adoption of inorganic growth strategies in the market are fueling the growth of the global somatic genetic testing market.
The market intelligence additionally throws a spotlight on the opportunities existing in the market, such as technological advancements in the field of cancer genomics and massive scope for adoption of NGS-based somatic genetic tests in emerging markets.
To gain a holistic view of the market, data from different segments of the market has been analyzed minutely. These segments include product type, sample, technology, applications, end users, and regions. The technology, application and the region segments have been further sub-segmented to offer an in-depth analysis of the global somatic genetic testing market.
The product and ecosystem analysis of the global market include data analysis on the satisfaction level of different pricing analysis of preferred somatic genetic testing products and services. Pertaining to the market segmentation, the product type segment is segregated into products and services. The products sub-segment under the product type segment has been further classified as kits and assays, instruments, and software. The technology segment has been segmented into sequencing, polymerase chain reaction (PCR), microarray, and others. The application segment has been segmented into solid tumors and hematological malignancies. The solid tumor sub-segment has been further segmented into breast cancer, prostate cancer, colorectal cancer, lung cancer, liver cancer, ovarian cancer, and other solid tumors. Similarly, the hematological malignancies sub-segment under the application segment has been further segregated into leukemia, lymphoma, and myeloma. Furthermore, the end user segment has been further segmented into academic and research institutions, hospitals and diagnostic laboratories, pharmaceutical and biotechnology companies, contract research organizations, and other end users.
Emphasizing the dominance of the North America region in the global somatic genetic testing market in 2020 and 2030, ” In North America, several emerging and legacy companies are focusing on expanding their respective somatic genetic testing portfolios and are actively engaged in developing new products and services, particularly for clinical use. Moreover, factors such as significant infusion of funds for conducting cancer research for enabling precision medicine coupled with the growing cancer prevalence in the region have massively promoted the adoption of robust somatic genetic testing solutions by various end users, further supporting the market growth in the region.”
Key insights are drawn from in-depth interviews with the key opinion leaders from more than 15 leading companies, market participants, and vendors. The key players profiled in the report include Agilent Technologies, Inc., ARUP Laboratories, ASURAGEN INC., Beijing Genomics Institute (BGI) Genomics Co., Ltd, bioMérieux S.A., CENTOGENE N.V, CIRCULOGENE Theranostics, LLC, F. Hoffmann-La Roche Ltd., Guardant Health, Inc., Illumina, Inc., Invivoscribe, Inc., Laboratory Corporation of America Holdings, Mission Bio, NeoGenomics Laboratories, Inc., OmniSeq, Oxford Nanopore Technologies, Ltd., Pacific Biosciences of California, Inc., QIAGEN N.V., Quest Diagnostics Incorporated, and Thermo Fisher Scientific Inc.
The study also offers strategic recommendations that can help organizations in tracking various products and trends that are changing the dynamics of the market. The recommendations also offer bespoke research services to help organizations meet their objectives.
Who should buy this report?
• Manufacturers and service providers who are involved in the development and commercialization of somatic genetic testing solutions
• Emerging companies in the field of somatic genetic testing to assess the market situation
How can market intelligence on Global Somatic Genetic Testing add value to an organization’s decision-making process?
• Aid in product and service development
• Help in targeting a segment for launching new products and services
• Offer go to market access strategies
• Support in diversifying the product portfolio basis risk and progression of underlying technologies
• Help in analyzing specifications
• Aid in understanding the end-user landscape
• Gain holistic views pertaining to the regions and understand the market potential of the countries
• Support in analyzing the competitive landscape to gain an understanding of the business strategies incorporated by the companies
Insightful Questions Covered to Enable Companies take Strategic Decisions.
• How is somatic genetic testing revolutionizing the field of cancer diagnostics?
• What are the major market drivers, challenges, and opportunities in the global somatic genetic testing market?
• What are the underlying structures resulting in the emerging trends within the global somatic genetic testing market?
• How did the COVID-19 pandemic impact the global somatic genetic testing landscape?
• What are the key development strategies that are being implemented by the major players in order to sustain in the competitive market?
• What are the key regulatory implications in developed and developing regions pertaining to somatic genetic testing?
• What are the potential entry barriers, which are expected to be faced by the companies willing to enter in a particular region?
• How is each segment of the market expected to grow during the forecast period from 2020 to 2030 and what is the anticipated revenue to be generated by each of the segments? Following are the segments:
o Product Type (Products and Services)
o Sample (Tissue-Based, Blood-Based, Bone Marrow Aspirates, and Others)
o Technology (Sequencing, PCR, Microarray, and Others)
o Application (Solid Tumors and Hematological Malignancies)
o End User (Academic and Research Institutions, Hospitals and Diagnostic Laboratories, Pharmaceutical and Biotechnology Companies, Contract Research Organizations, and Others)
o Region (North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World)
• What are the growth opportunities for the companies in the region of their operation?
• Who are the leading players with significant offerings in the global somatic genetic testing market?
• Which companies are anticipated to be highly disruptive in the future, and why?
• What are the current unmet needs that are being faced?