Cancer Profiling Global Market Size, Share, Growth Opportunities, Emerging Trends, Industry Analysis And Global Forecast 2024 To 2033 | Illumina Inc., Qiagen NV, NeoGenomics Inc., Sysmex Corporation, Hologic Inc.

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Overview and Scope
Cancer profiling refers to a diagnostic procedure that is conducted to analyze the genetic information of tumor cells in the body. It provides information about certain molecular or genetic changes in a tumor, such as gene mutations or other changes in tumor DNA.

Sizing and Forecast
The cancer profiling market size has grown rapidly in recent years. It will grow from $11.93 billion in 2023 to $13.4 billion in 2024 at a compound annual growth rate (CAGR) of 12.3%. The growth in the historic period can be attributed to increasing cancer incidence rates, rise in precision medicine approaches, clinical adoption of biomarkers, drug development and targeted therapies, awareness and patient advocacy.

The cancer profiling market size is expected to see rapid growth in the next few years. It will grow to $20.35 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%. The growth in the forecast period can be attributed to integration of artificial intelligence, global collaborations in research, expansion of liquid biopsy applications, regulatory support for precision medicine, increasing emphasis on early detection. Major trends in the forecast period include liquid biopsy dominance, comprehensive genomic profiling , rise of immunoprofiling, collaborative data sharing network, single-cell sequencing.

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Segmentation & Regional Insights
The cancer profiling market covered in this report is segmented –
1) By Technology: Immunoassays, PCR (Polymerized Chain Reaction), NGS (Next-Generation Sequencing), Microarrays, In-Situ Hybridization
2) By Biomarker Type: Genomic Biomarkers, Protein Biomarkers
3) By Cancer Type: Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Melanoma Cancer, Other Cancers
4) By Application: Research Applications, Clinical Applications, Screening, Diagnostics, Prognostics, Other Applications

North America was the largest region in the cancer profiling market in 2023. The regions covered in the cancer profiling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The increasing incidence of cancer is expected to propel the growth of the cancer profiling market going forward. Incidence of cancer refers to the number of new cancer cases in a specific population for a given period. The increased incidence of cancer caused due to urbanization, a growing aging population, changing lifestyles, and environmental and genetic factors. Cancer profiling aids in the identification of specific molecular or genetic changes in a tumor, such as gene mutations or other changes in tumor DNA, which is helpful in the cancer treatment cycle. For instance, in 2022, according to the American Cancer Society, a US-based voluntary organization, the number of new cancer cases and fatalities expected was estimated to be 1.9 million new cancer cases diagnosed and 609,360 cancer deaths in the United States. Therefore, the increasing incidence of cancer is driving the growth of the cancer profiling market.

Key Industry Players
Major companies operating in the cancer profiling market are focused on developing innovative kits such as in-vitro diagnostic test kits for advanced NSCLC treatment optimization. In-vitro diagnostic test kits are medical devices designed for the examination of specimens, such as blood or tissue, outside the living organism (in vitro) to provide information about a person’s health condition. For instance, in May 2022, Qiagen, a Germany-based provider of sample and assay technologies launched the Thera screen EGFR Plus RGQ PCR Kit, an in-vitro diagnostic test designed for sensitive EGFR mutation analysis in non-small cell lung cancer (NSCLC) treatment. This real-time qPCR test improves detection limits and offers faster turnaround times, automated sample extraction, and results analysis. In addition to detecting the T790M mutation, the kit now includes C797S, a crucial biomarker indicating resistance to third-generation EGFR tyrosine kinase inhibitors.

The cancer profiling market report table of contents includes:
1. Executive Summary