Tumor Transcriptomics Market to be dominated by Lung Cancer through 2027
Growing healthcare expenditure in developing countries and the rise in adoption of advanced genome sequencing tools are driving the demand for the global tumor transcriptomics market in the forecast period, 2023-2027.
According to TechSci Research report, “Tumor Transcriptomics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global tumor transcriptomics market is anticipated to grow at a formidable rate in the forecast period, 2023-2027. The improvements in the healthcare infrastructure, rise in the number of biopharmaceutical companies, and approvals and launch of microarrays are the primary factors driving the demand for the global tumor transcriptomics market.
Tumor transcriptomics is a type of RNA Study and includes assessments of explorations of noncoding RNAs, the discovery of novel transcripts, alternative splicing and alternative polyadenylation, and identification of fusion transcripts. It is considered a valuable tool for identifying biomarkers and cancer mechanisms. The latest advances in high-throughput technologies have enabled large-scale gene expression profiling. It majorly depends on next-generation technologies, which require RNA to be transcribed into complementary DNA before being sequenced. Some of the technologies used in tumor transcriptomics are microarray, real-time quantitative, polymerase chain reaction (Q-PCR), and others. By making the use of this technology, scientists are able to study diseases at the genome level, and it also helps in the development of new clinical biomarkers and identifies various molecular disorders.
However, the lack of skilled professionals and efficient data analysis tools in developing countries may restrain the global tumor transcriptomics market growth in the forecast period.
Browse over XX market data Figures spread through 110 Pages and an in-depth TOC on "GLOBAL TUMOR TRANSCRIPTOMICS MARKET"
The global tumor transcriptomics market is segmented into tumor type, technology, product, application, end user, regional distribution, and competitive landscape.
Based on tumor type, the market is divided into breast cancer, lung cancer, colorectal cancer, prostate cancer, melanoma, and others. Lung cancer dominates the market and is expected to maintain its dominance over the next five years. Favorable government policies toward lung cancer therapeutics and the rise in prevalence of lunch cancer are driving the segment demand.
Based on end user, the market is divided into biotechnology & pharmaceutical companies, research & academic institutions, and others. Biotechnology & pharmaceutical companies are expected to hold the largest market share in the forecast period, 2023-2027. Tumor transcriptomics is beneficial in identifying the disease cause and deciding the course of action to give drugs to patients. The high prevalence of various diseases and the need to find effective treatment and drugs are expected to fuel the market growth in the coming years.
The North American region is expected to hold the largest market share in the forecast period, 2023-2027. The rapid development of bioinformatics tools to enhance the drug development process and increased adoption rate of immunotherapy is expected to drive the segment demand. The surge in the number of patients suffering from cancer and the growing healthcare industry further contribute to the market growth.
Major operating companies operating in global tumor transcriptomics market are:
- Thermo Fischer Scientific, Inc.
- Caris Life Sciences, Inc.
- Illumina, Inc.
- NanoString Technologies, Inc.
- 10x Genomics, Inc.
- Agilent Technologies, Inc.
- Bio-Rad Laboratories, Inc.
- F. Hoffmann-La Roche AG
- Fluidigm Corporation
- Pacific Biosciences of California, Inc.
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“The constant efforts and investments by the leading authorities to improve the drug discovery process and develop techniques to assess medication toxicity and efficiency are creating lucrative growth opportunities for the market players in the coming years. The identification of biomarkers and their ongoing clinical applications to treat diseases like neurological and cardiovascular diseases and cancer is further expected to influence the market demand. Therefore, the development of novel clinical biomarkers and identification of molecular abnormalities, and advancements in drug discovery and disease identification process, along with the growing healthcare capacity, is expected to propel the global tumor transcriptomics market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Tumor Transcriptomics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Tumor Type (Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Melanoma, Others), By Technology (Microarray, Real-Time Quantitative, Polymerase Chain Reaction (Q-PCR), Others), By Product (Consumables, Instrument, Software & Services), By Application (Diagnostics and Disease Profiling, Drug Discovery, Others), By End User (Biotechnology & Pharmaceutical Companies, Research & Academic Institutions, Others), and By Region”, has evaluated the future growth potential of global tumor transcriptomics and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global tumor transcriptomics market.
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