Luton, Bedfordshire, United Kingdom, Feb. 14, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Cancer/Tumour Profiling Market.
In the changed post COVID-19 business landscape, the Cancer/Tumour Profiling Market is expected to grow at USD 21.41 billion from 2023 to 2029, accelerating at a CAGR of 11%.
Market Overview:
Cancer/tumor profiling gives information on the genes that cause cancer, which can help researchers better understand how cancer works. Cancer profiling is beneficial in molecular profiling of lung cancer, prostate cancer, and acute leukaemia, and is not confined to common malignancies like lymphoma and breast cancer. Cancer profiling has become increasingly important in molecular diagnosis, since a better understanding of cancer tumours enables doctors to make proper therapy decisions and avoid “over-treating” cancer patients. The increase in cancer research and funding initiatives and technological advancements in profiling technologies are also propelling the growth of the cancer/tumor profiling market.
The growth of the cancer/tumor profiling market is also being fuelled by a rise in cancer research and financing initiatives, as well as technological advancements in profiling technologies. Additionally, during the projection period, the growing demand for customised medicine and point-of-care diagnostics is likely to provide significant potential possibilities for market participants. However, the expensive initial investment required for biomarker discovery, as well as technological challenges with sample collection and storage, are limiting market expansion to some extent. Ask for a Sample Report
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Key Insights from Primary Research
As per the analysis, the Cancer/Tumour Profiling Market is likely to grow above a CAGR of around 11% between 2023 and 2029.
The Cancer/Tumour Profiling Market size was worth around US$ 8.37 billion in 2022 and is estimated to hit approximately US$ 21.41 billion by 2029. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
The increase in cancer research and funding initiatives and technological advancements in profiling technologies are also propelling the growth of the cancer/tumor profiling market.
North America is expected to hold the largest share of the global Cancer/Tumour Profiling Market. This is mostly attributable to rising disposable income and increased urbanisation in these countries. The presence of significant companies, technological advancements, rising cancer occurrence, and increased expenditure in oncology research to identify novel treatments are all aspects that contribute to this segment’s large share.
Industry Growth Drivers
Furthermore, the market is being propelled forward by growing investments by pharmaceutical and biotechnology businesses in research and development (R&D) operations for the launch of novel medicines and new drug design approaches. Other factors, including as an increase in clinical trials, increased adoption of immunoassay techniques, advantageous reimbursement policies, improved healthcare infrastructure, and technical breakthroughs, are all contributing to the market’s optimistic outlook.
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Market Positioning of Key Vendors
Major companies active in the global Cancer/Tumour Profiling industry include Qiagen N.V., Illumina Inc., Neogenomics Inc., HTG Molecular Diagnostics, Inc., Genomic Health, Helomics Corporation, Caris Life Sciences, Nanostring Technologies, Oxford Gene Technology, Ribomed Biotechnologies Inc. The presence of established industry players is characterized by mergers and acquisitions, joint ventures, expansion of production capacity, extensive distribution and branding decisions to improve market share and regional footprint. Also, they are involved in ongoing research and development activities to develop new products and focus on expanding the product portfolio. This is expected to increase competition and pose a potential threat to new entrants.
Browse the full “Cancer/Tumour Profiling Market by Technology (Sequencing Technique, Next-Generation Sequencing (NGS), In Situ Hybridization, Immunohistochemistry), Technique (Genomics, Metabolomics, Proteomics, Epigenetics), Application (Personalized Cancer Medicine, Oncological Diagnostics, Research Applications) and by Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Global trends and forecast from 2022 to 2029” Report at https://exactitudeconsultancy.com/reports/11006/cancer-tumour-profiling-market/
Key Market Segments: Cancer/Tumour Profiling Market
Cancer/Tumour Profiling Market by Technology
- Sequencing Technique
- Next-Generation Sequencing (NGS)
- In Situ Hybridization
- Immunohistochemistry
Cancer/Tumour Profiling Market by Technique
- Genomics
- Metabolomics
- Proteomics
- Epigenetic
Cancer/Tumour Profiling Market by Application
- Personalized Cancer Medicine
- Oncological Diagnostics
- Research Applications
Cancer/Tumour Profiling Market by Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East and Africa
Important Countries in All Regions Are Covered.
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Regional Insights:
The Asia-Pacific area, on the other hand, is predicted to develop at the fastest rate during the forecast period. The vast population size, advances in medical knowledge, and increased disposable income all contribute to this growth.
Recent Industry Developments:
QIAGEN is a German provider of sample and assay technologies for molecular diagnostics, applied testing, academic and pharmaceutical research. Consolidated under the Dutch holding QIAGEN N.V., the company operates more than 35 offices in over 25 countries.
Illumina is a leading developer, manufacturer, and marketer of life science tools and integrated systems for large-scale analysis of genetic variation and function.
Report Scope:
| Report Attribute | Details |
| Market Size in 2022 | USD 8.37 billion |
| Projected Market Size in 2029 | USD 21.41 billion |
| CAGR Growth Rate | 11% CAGR |
| Base Year | 2022 |
| Forecast Years | 2023-2029 |
| Key Market Players | Qiagen N.V., Illumina Inc., Neogenomics Inc., HTG Molecular Diagnostics, Inc., Genomic Health, Helomics Corporation, Caris Life Sciences, Nanostring Technologies, Oxford Gene Technology, Ribomed Biotechnologies Inc., and others. |
| Key Segment | by Technology, by Technique, by Application, by Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Purchase Options | Request customized purchase options to meet your research needs. |
What does the report include?
- Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Cold Storage market analysis.
- The competitive environment of current and potential participants in the Cold Storage market is covered in the report, as well as those companies' strategic product development ambitions.
- According to the component, application, and industry vertical, this study analyses the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
- For each segment mentioned above, actual market sizes and forecasts have been given.
To know an additional revised 2023 list of market players, request a sample report:
https://exactitudeconsultancy.com/reports/11006/cancer-tumour-profiling-market/#request-a-sample
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