Cancer Microbiome Sequencing Market: Current Analysis and Forecast (2021-2027)
$3999 – $7577
Emphasis on Offerings (Products, Services); Technology (Next-Generation Sequencing, Polymerase Chain Reaction); Application (Colorectal Cancer, Cervical Cancer, Oral Cancer, Others); End-Users (Academic & Research Institutes, Pharmaceutical & Biotechnology Companies, Hospitals & Diagnostic Laboratories, Others); Region and Country
Detailed Analysis of COVID-19 Impact on the Cancer Microbiome Sequencing Market
Global Cancer Microbiome Sequencing Market is anticipated to grow with an elevated CAGR of around 20% over the forecast period (2021-2027). The microbiome is the collection of all the gene sequences from a microbial community in the human body that contributes to human health and the body. Sequencing allows the profiling of microbial communities that may be targeted for developing new therapeutic approaches to cancer.
The cancer microbiome sequencing market has been growing on account of various factors including the growing emphasis on the microbiome’s potential in the field of cancer and surging incidences of cancer across the globe. For instance, the number of cancer cases in the US will increase 49% each year, from 1,534,500 in 2015 to 2,286,300 in 2050, with the largest percentage increase among adults aged ≥75 years, as per the predictions by CDC. This exponential increase in cancer prevalence has created a buzz among biotechnology companies for investing in the development of novel diagnostic tools based on the microbiome that will offer early cancer detection.
Additionally, promulgating strategic alliances among industry players for accelerating microbiome research is another prominent factor that is significantly driving the cancer microbiome sequencing market globally. For example, in June 2021, Illumina and Microba Life Sciences came into a partnership to advance their understanding of the human gut microbiome in human health and disease. Illumina’s revolutionary NGS tools and Microba’s high-quality proprietary gut microbiome analysis platform will generate the accurate metagenomic data that researchers require to fuel discoveries.
Distribution of Cancer Incidence Worldwide (%), 2020, By Gender
Thermo Fisher Scientific Inc., CD Genomics, Eurofins Scientific, Illumina, Inc., Prescient Medicine Holdings, Inc., QIAGEN N.V., Micronoma Inc., Oxford Nanopore Technologies, Zymo Research Corporation, OraSure Technologies, Inc., are some of the prominent players operating in the cancer microbiome sequencing market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with cancer microbiome sequencing products.
Insights Presented in the Report
“Amongst Offerings, products segment holds the major share”
Based on offerings, the cancer microbiome sequencing market is divided into products & services. The products segment accounted for the leading market share in 2020 it is estimated that it will exhibit the highest CAGR during the forecast. The products segment is further sub-segmented into kits & assays and software. The growth of this segment can be attributed to the rising number of sequencing procedures and the launch of new and advanced assay kits and software. However, the services segment is expected to grow considerably during the projected timeframe.
“Amongst Technology, next-generation sequencing segment holds the major share”
Based on technology, the cancer microbiome sequencing market is segmented into next-generation sequencing (NGS) and polymerase chain reaction. The next-generation sequencing segment occupied a substantial share of the cancer microbiome sequencing market in 2020 and it is expected to grow considerably in the upcoming years as NGS allows clinicians to test various cancer genes simultaneously. Furthermore, the growing adoption of next-generation sequencing in clinical oncology to advance personalized cancer treatment is also contributing to the growth of the segment.
“Amongst Application, colorectal cancer segment holds the major share”
Based on application, the market is fragmented into colorectal cancer, cervical cancer, oral cancer, and others. In 2020, the colorectal cancer segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. The growth of this segment is attributed to the rising incidences of colorectal cancer globally. For instance, according to the report by the International Agency for Research on Cancer, the incidences of colon cancer were nearly 1.1 million in 2019 and it is expected to increase to over 1.5 million by 2030.
“Amongst End-Users, hospitals & diagnostic laboratories segment holds the major share”
Based on end-users, the market is fragmented into academic & research institutes, pharmaceutical & biotechnology companies, hospitals & diagnostic laboratories, and others. In 2020, the hospitals & diagnostic laboratories segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period as the majority of the sequencing test takes place in laboratories for detecting various diseases. However, the academic & research institutes segment is expected to grow significantly in the upcoming years.
“North America represents one of the largest markets of cancer microbiome sequencing market”
For a better understanding of the market dynamics of the cancer microbiome sequencing market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. North America constitutes a major market for the cancer microbiome sequencing market industry and generated revenue of USD XX Million in 2020 owing to growing healthcare expenditure and the presence of industry players in the region.
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- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
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- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
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|1.2||Objective of the Study|
|1.5||Currency Used in Report|
|1.6||Scope of the Global Cancer Microbiome Sequencing Study|
|2.1||Research Methodology for the Global Cancer Microbiome Sequencing Market|
|2.1.1||Main Objective of the Global Cancer Microbiome Sequencing Market|
|6||GLOBAL CANCER MICROBIOME SEQUENCING MARKET REVENUE|
|7.1.1||Kits & Assays|
|8.1.1||Sequencing by Synthesis|
|8.1.2||Sequencing by Ligation|
|8.2||Polymerase Chain Reaction|
|10.1||Academic and Research Institutes|
|10.2||Pharmaceutical and Biotechnology Companies|
|10.3||Hospitals and Diagnostic Laboratories|
|11.1||NORTH AMERICA CANCER MICROBIOME SEQUENCING MARKET|
|11.1.3||Rest of North America|
|11.2||EUROPE CANCER MICROBIOME SEQUENCING MARKET|
|11.2.6||Rest of Europe|
|11.3||ASIA PACIFIC CANCER MICROBIOME SEQUENCING MARKET|
|11.3.5||Rest of Asia Pacific|
|11.4||REST OF THE WORLD CANCER MICROBIOME SEQUENCING MARKET|
|13||CANCER MICROBIOME SEQUENCING MARKET OPPORTUNITIES|
|14||CANCER MICROBIOME SEQUENCING MARKET TRENDS & INSIGHTS|
|15||LEGAL & REGULATORY FRAMEWORK|
|16.1||Demand Side Analysis|
|16.2||Supply Side Analysis|
|16.2.1||Top Product Launches|
|16.2.2||Top Business Partnerships|
|16.2.3||Top Merger & Acquisitions|
|17||VALUE CHAIN ANALYSIS|
|18.1||Porter’s Five forces analysis|
|18.1.1||Bargaining power of Supplier|
|18.1.2||Bargaining power of Buyer|
|18.1.4||Availability of Substitute|
|18.1.5||Threat of new Entrants|
|18.2.1||Company Shares, By Revenue|
|19.1||Thermo Fisher Scientific Inc.|
|19.1.3||Key Product/Services Offerings|
|220.127.116.11||Financial Overview of Thermo Fisher Scientific Inc.|
|18.104.22.168||Business Expansion and Investments|
|22.214.171.124||Merger and Acquisition|
|19.5||Prescient Medicine Holdings, Inc.|
|19.8||Oxford Nanopore Technologies|
|19.9||Zymo Research Corporation|
|19.10||OraSure Technologies, Inc.|
Analyzing the historical market, estimation of the current market, and forecasting the future market of the global cancer microbiome sequencing market were the three major steps undertaken to create and analyze the adoption of cancer microbiome sequencing in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global cancer microbiome sequencing market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the cancer microbiome sequencing through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the cancer microbiome sequencing market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as offerings, application, technology, and end-users. Further country-level analyses were conducted to evaluate the overall adoption of cancer microbiome sequencing across the globe.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the cancer microbiome sequencing. Further, we conducted factor analysis using dependent and independent variables such as the growing prevalence of cancer and rising use of microbiomes in genomics. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the cancer microbiome sequencing sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the cancer microbiome sequencing market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of cancer microbiome sequencing across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the cancer microbiome sequencing market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the cancer microbiome sequencing market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of offerings, applications, technology, and end-users of the cancer microbiome sequencing market.
The main objective of the Cancer Microbiome Sequencing Market Study
The current & future market trends of cancer microbiome sequencing were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of cancer microbiome sequencing in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of offerings, applications, technology, and end-users
- Define and analysis of the regulatory framework for the cancer microbiome sequencing industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the cancer microbiome sequencing market for the major region
- Major regions studied in the report include North America, Europe, Asia-Pacific and Rest of the world
- Company profiles of the cancer microbiome sequencing market and the growth strategies adopted by the market players to sustain in the fast-growing market
Deep dive regional level analysis of the industry