Dublin, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The "Europe Genomic Cancer Panel and Profiling Market: Analysis and Forecast, 2023-2033" report has been added to ResearchAndMarkets.com's offering.
As of 2023, the Europe genomic cancer panel and profiling market was valued at $2.64 billion and is expected to attain a value of $6.50 billion in 2033. The market is anticipated to grow at a CAGR of 9.42% during the forecast period 2023-2033. This growth is being driven by advances in genomic research and an increasing emphasis on precision therapy in oncology. 
Genomic cancer panels and profiling are a contemporary technique to cancer detection that examines the genetic characteristics of malignancies before symptoms occur. The capacity of these panels to provide extensive genetic insights facilitates early detection and the development of tailored treatment strategies, which is a considerable advantage. The genomic cancer panel and profiling market is expanding because to the transformational potential these technologies have for changing cancer management. These panels improve our understanding of cancer genetics by allowing healthcare providers to identify particular genetic changes and customize interventions accordingly.
In the European market, genetic cancer panels and profiling are gaining popularity for cancer screening and management. These modern technologies provide detailed genetic information about malignancies, allowing for early detection and individualized treatment regimens.
The demand for these panels is increasing as a result of their transformational potential in changing cancer management. Factors driving market expansion in Europe include the growing popularity of liquid biopsy testing, increased cancer risk due to lifestyle changes, and the need for early detection.
Key Market Dynamics
Market Drivers
- Rising Need for Cancer Profiling in Developed Countries Driving Demand for Genomic Panels and Profiling Tests
- Increase in Genomic Research Funding Expanding the Market for Genomic Cancer Panels and Profiling
- Technological Advancements in the Field of Informatics Expanding Consumer Reach
Market Restraints
- Significant Implications of Reimbursement Reductions Impacting Growth of the Genomic Cancer Panel and Profiling Market
- Impact of High-Cost Pressure Hindering Development in Genomic Cancer Panel and Profiling Testing
Market Opportunities
- Robust Pipeline of Genomic Cancer Panels and Profiling Tests Poised to Revolutionize Cancer Diagnosis
- Discovery of New Biomarkers Presents an Opportunity for the Development of Diagnostics Tools and Technologie
Market Segmentation:
Segmentation by Application
- Clinical
- Research
Segmentation by End User
- Hospitals
- Clinical and Diagnostic Laboratories
- Research and Academic Institutes
- Other End Users
Segmentation by Country
- U.K.
- France
- Italy
- Germany
- Spain
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 92 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value (USD) in 2023 | $2.64 Billion |
| Forecasted Market Value (USD) by 2033 | $6.5 Billion |
| Compound Annual Growth Rate | 9.4% |
| Regions Covered | Europe |
Key Topics Covered:
1 Markets
1.1 Market Scope
1.1.1 Key Questions Answered in this Report
1.2 Research Methodology
1.3 Market Overview
1.3.1 Market Definition
1.3.2 Market Footprint and Growth Potential
1.3.3 Future Potential
2 Industry Analysis
2.1 Legal Requirements
2.1.1 Regulation of Genetic Tests
2.1.2 NCCN Guidelines
2.1.3 Reimbursement Scenario
2.2 Patent Analysis
2.2.1 Patent Filing Trend
2.2.2 Patent Analysis (by Year)
2.2.3 Patent Analysis (by Country)
3 Market Dynamics
3.1 Overview
3.1.1 Impact Analysis
3.2 Market Drivers
3.2.1 Rising Need for Cancer Profiling in Developed Countries Driving Demand for Genomic Panels and Profiling Tests
3.2.2 Increase in Genomic Research Funding Expanding the Market for Genomic Cancer Panels and Profiling
3.2.3 Technological Advancements in the Field of Informatics Expanding Consumer Reach
3.3 Market Restraints
3.3.1 Significant Implications of Reimbursement Reductions Impacting Growth of the Genomic Cancer Panel and Profiling Market
3.3.2 Impact of High-Cost Pressure Hindering Development in Genomic Cancer Panel and Profiling Testing
3.4 Market Opportunities
3.4.1 Robust Pipeline of Genomic Cancer Panels and Profiling Tests Poised to Revolutionize Cancer Diagnosis
3.4.2 Discovery of New Biomarkers Presents an Opportunity for the Development of Diagnostics Tools and Technologies
4 Competitive Insights
4.1 Overview
4.2 Key Strategies and Developments
4.2.1 Product Launches, Approvals, and Upgradations
4.2.2 Synergistic Activities
4.2.3 Mergers and Acquisitions
4.2.4 Business Expansions, Funding, and Licenses
4.3 Growth-Share Analysis
4.3.1 Growth-Share Analysis (by Technology), 2022
5 By Region
5.1 Overview
5.2 Europe
5.2.1 Key Dynamics
5.2.2 Germany
5.2.3 France
5.2.4 U.K.
5.2.5 Italy
5.2.6 Spain
5.2.7 Rest-of-Europe
6 Company Profiles
6.1 Overview
6.2 F. Hoffmann-La Roche Ltd
6.2.1 Company Overview
6.2.2 Role of F. Hoffmann-La Roche Ltd in the Genomic Cancer Panel and Profiling Market
6.2.3 Corporate Strategies
6.2.4 Business Strategies
6.2.5 Financials
6.2.6 Analyst Perspective
For more information about this report visit https://www.researchandmarkets.com/r/tup7ph
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
