Genomics Market in Cancer Care Booming at 15% CAGR, Reaching $28 Billion by 2031 on Precision Medicine Shift
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The global genomics in cancer care market is undergoing rapid growth, expected to reach $28.52 billion by 2031 at a 15.3% CAGR.
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Key drivers include the shift to precision medicine, advancements in genomic sequencing technology, rising cancer incidence, and competitive landscape.
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Market encompasses genomic technologies like next-generation sequencing, gene expression profiling, and molecular diagnostics.
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Genomics allows personalized therapy based on molecular profiling of tumors, leading to more effective cancer treatment.
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Challenges include data complexity, regulations, and reimbursement, but opportunities exist in AI, machine learning, and real-world evidence generation.