Cancer/Tumor Profiling Market

Market Overview:

The global cancer/tumor profiling market size reached US$ 10.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 18.4 Billion by 2028, exhibiting a growth rate (CAGR) of 9.8% during 2023-2028.

Cancer/tumor profiling, also known as biomarker testing, refers to a laboratory test or procedure used to identify specific proteins, genes or gene mutations (changes) and other biomarkers in a tumor tissue sample. It assists oncologists in determining if the pathways of a patient’s tumor match up with the available targeted therapies. It also aids in routine diagnostics, therapeutic decision-making, and developing personalized treatment plans and therapies for individuals based on the severity of their ailment and genomic build-up. Cancer/tumor profiling also finds extensive applications in personalized medicine, research, the discovery of biomarkers, and the development of screening and diagnostic techniques.

Cancer/Tumor Profiling Market Trends:

Cancer/tumor profiling is widely used in oncology research and discovery of biomarkers during the process of drug design, discovery and development. As a result, the widespread prevalence of cancer across the globe represents the primary factor driving the market growth. Besides this, the growing focus on biomarkers for diagnosis and tumor profiling and the shifting preferences toward personalized medicine among the masses are augmenting the product demand. Additionally, there has been a significant rise in government funding and support for cancer research for the development of advanced techniques to reduce the time taken for the detection and identification of tumors. Along with this, the recent advancements in molecular biology techniques, such as next-generation sequencing (NGS), are accelerating the adoption of cancer/tumor profiling. Furthermore, the increasing investments by pharmaceutical and biotechnology companies in research and development (R&D) activities for the launch of novel therapies and new drug designing techniques are propelling the market growth. Other factors, including the rising number of clinical trials, growing adoption of immunoassay techniques, favorable reimbursement policies, improving healthcare infrastructure, and technological advancements, are also creating a positive outlook for the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global cancer/tumor profiling market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on cancer type, technology, technique and application.

Breakup by Cancer Type:

• Breast Cancer
• Lung Cancer
• Colorectal Cancer
• Prostate Cancer
• Melanoma Cancer
• Others
   

Breakup by Technology:

• Next-Generation Sequencing (NGS)
• Polymerase Chain Reaction (PCR)
• Immunohistochemistry (IHC)
• In-Situ Hybridization (ISH)
• Microarray
• Others
   

Breakup by Technique:

• Genomics
• Proteomics
• Epigenetics
• Metabolomics
   

Breakup by Application:

• Personalized Medicine
• Diagnostics
• Biomarker Discovery
• Prognostics
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Abbott Laboratories, Becton Dickinson and Company, Caris Life Sciences, Exact Sciences Corporation, F. Hoffmann-La Roche Ltd, Hologic Inc., HTG Molecular Diagnostics Inc., Illumina Inc., Laboratory Corporation of America Holdings, NeoGenomics Laboratories, Qiagen N.V., Siemens AG and Sysmex Corporation.

Report Coverage: