New York, USA, Nov. 14, 2022 (GLOBE NEWSWIRE) -- The market size of Cancer/Tumor Profiling in 2021 was USD 9.59 billion and will be worth USD 26.31 billion by 2030, growing at an 11.87% CAGR. Based on the technology used, Cancer/Tumor profiling is a test that aids in genome sequencing at a quick pace with higher efficacy. As cancer is a known inheritable condition, this test not only focuses on sequencing but also aids in estimating the extent to which cancer can spread.
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The Cancer/Tumor Profiling Market Insights:
- The immunoassays segment ruled the entire market with a 6.89% CAGR on the basis of technology.
- The breast cancer segment held a significant position with the largest market share in 2020 on the basis of cancer type.
- On the basis of biomarker type, the genomic biomarker segment ruled the overall market with a significant 6.713% CAGR.
- The largest market was contributed by research applications with a rapid 7.93% CAGR on the basis of application.
- North America significantly ruled the entire market, with a share of 48.8% in 2020.
Factors influencing the Cancer/Tumor Profiling Market growth:
Factors such as the increasing number of cancer cases and increased demand for personalized medicine are expanding the overall growth rate of the market.
- According to WHO reports, cancer cases rose to 19.3 million in 2020, with 10 million deaths globally. Breast and lung cancer recorded 23.1% of all cancer cases among the new cases. Due to the rapidly increasing number of cancer cases, major players have significantly increased their investments in the development of novel technologies for cancer profiling, which is anticipated to support market revenue growth.
- The global Cancer/Tumor profiling market will grow due to the increasing demand for personalized medicine. The classification, detection, and treatment of most diseases are being transformed by personalized medicine, which has become a standard of clinical practice.
Cancer/Tumor Profiling Market Segmentation Analysis
The market segmentation of Cancer/Tumor profiling is based on technology, cancer type, biomarker type, application, and Region.
By Technology
- In-Situ Hybridization
- PCR (Polymerized Chain Reaction)
- Immunoassays
- Microarrays
- NGS (Next-generation sequencing)
- Others
By Cancer Type
- Prostate Cancer
- Melanoma Cancer
- Breast Cancer
- Colon Cancer
- Lung Cancer
By Biomarker Type
- Genomic Biomarkers
- Protein Biomarkers
- Others
By Applications
- Prognostics
- Clinical Applications
- Screening
- Diagnostics
- Research Applications
- Others
For Region
North America
- Canada
- USA
- Mexico
- Rest of North America
Asia-Pacific
- Australia
- Japan
- India
- Malaysia
- Thailand
- Philippines
- South Korea
- Singapore
- Indonesia
- China
- Rest of APAC
Europe
- Italy
- Spain
- Belgium
- Netherlands
- Finland
- Switzerland
- Turkey
- Russia
- U.K.
- Germany
- France
- The rest of Europe
LAMEA
- Saudi Arabia
- Brazil
- Uruguay
- Argentina
- South Africa
- Rest of LAMEA
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The immunoassays segment ruled the entire market with a 6.89% CAGR on the basis of technology. The increasing use of these assays for cancer profiling on a global scale, coupled with some key insights into how to reduce the severity of illnesses and shorten hospital stays, are immensely promoting the growth of this market.
The largest market was contributed by research applications with a rapid 7.93% CAGR on the basis of application. The market growth is stimulated by increased funding for the construction of cancer research and testing facilities around the world, an increase in the use of personalized medicine, and a strong emphasis on the invention of biomarkers for drug development.
North America significantly ruled the entire market, with a share of 48.8% in 2020. The enormous funding required for conducting cancer tumour profiling research and development projects and the ongoing development of cutting-edge cancer screening technologies are driving the market expansion in this area.
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Cancer Profiling Market Report Coverage
| Report Attribute | Details |
| Forecast Period | 2021 - 2030 |
| The market size value in 2021 | USD 9.59 billion |
| The revenue forecast in 2030 | USD 26.31 billion |
| Growth rate | CAGR of 11.87 % |
| The base year for estimation | 2021 |
| Historical data | 2017 – 2020 |
| Unit | USD Billion, CAGR (2021 - 2030) |
| Segmentation | Based on Technology, Based on Cancer Type, Based on Biomarker Type, Based on Applications, and By region. |
| Based on Technology | Immunoassays, PCR (Polymerized Chain Reaction), NGS (Next-generation sequencing), Microarrays, In-Situ Hybridization, Others |
| Based on Cancer Type | Lung Cancer, Breast Cancer, Colon Cancer, Melanoma Cancer, Prostate Cancer |
| Based on Biomarker Type | Protein Biomarkers, Genomic Biomarkers, Others |
| Based on Applications | Research Applications, Clinical Applications, Screening, Diagnostics, Prognostics, Others |
| By Region | North America, Europe, Asia-Pacific, and LAMEA |
| Country Scope | US, Mexico, Canada, Germany, UK, France, China, Japan, India, etc. |
| Company Usability Profiles | Illumina Inc., NeoGenomics Laboratories Inc., QIAGEN N.V., Genomic Health Inc., Caris Life Sciences, HTG Molecular Diagnostics Inc., Helomics Corporation, Sysmex Corporation, Elevation Oncology, Ribomed Biotechnologies Inc., NanoString Technologies Inc., Guardant Health Inc., Roche Diagnostics, GenScript Biotech Corporation, Tempus Labs, Boreal Genomics Inc, Perthera, Agendia, Omniseq, Histogene X |
| Pricing and purchase options | Customized buying options are available to meet your exact research needs. |
Key players in Cancer/Tumor Profiling Market:
- QIAGEN N.V.
- Genomic Health Inc.
- NeoGenomics Laboratories Inc.
- Caris Life Sciences
- Ribomed Biotechnologies Inc.
- NanoString Technologies Inc.
- Tempus Labs
- Illumina Inc.
- Helomics Corporation
- Sysmex Corporation
- Elevation Oncology
- Perthera
- Agendia
- Guardant Health Inc.
- Roche Diagnostics
- GenScript Biotech Corporation
- Omniseq
- Histogene X
- Boreal Genomics Inc
To read the summary of the report, visit the website at
https://www.strategicmarketresearch.com/market-report/cancer-tumor-profiling-market
Recent Developments
- To improve the usability of the results of comprehensive genomic profiling (CGP), Foundation Medicine, Inc., a leader in molecular profiling for cancer, announced the release of FoundationReport+, a new interactive digital report.
- Oncology startup 4baseCare announced collaboration with AstraZeneca India to improve cancer treatment in India. The organizations will work together to provide targeted therapy options for patients with advanced cancer using reasonably priced genomic solutions.
- The combination of AstraZeneca's IMFINZI and IMJUDO plus platinum based chemotherapy has been granted approval in the United States for treating adult patients with Stage IV (metastatic) non small cell lung cancer (NSCLC).
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