The Cancer Profiling by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Cancer Profiling, 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.
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.
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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
Top Major Players
Illumina Inc.
Qiagen NV
NeoGenomics Inc.
Sysmex Corporation
HTG Molecular Diagnostics Inc.
Caris Life Sciences
Technological advancement has emerged as a key trend gaining popularity in the cancer profiling market. Major market players are concentrating their efforts on creating innovative technologies to strengthen their position in the market. For instance, in December 2021, Roche, a Switzerland-based multinational healthcare company, launched the AVENIO Edge System to advance next-generation sequencing (NGS) technologies. The new AVENIO Edge System is an entirely automated solution for the sample preparation workflow, from DNA sample input to the output of sequencing-ready libraries. It enables more thorough testing with consistent and high-quality results in the future for precision medicine. It is a pre-analytical platform for sequencing library preparation, target enrichment, and quantification stages that provide integrated, end-to-end control and consistent, high-quality findings.
The cancer profiling market report table of contents includes:
1. Executive Summary
2. Cancer Profiling Market Characteristics
3. Cancer Profiling Market Trends And Strategies
4. Cancer Profiling Market – Macro Economic Scenario
5. Global Cancer Profiling Market Size and Growth
…
31. Global Cancer Profiling Market Competitive Benchmarking
32. Global Cancer Profiling Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Cancer Profiling Market
34. Cancer Profiling Market Future Outlook and Potential Analysis
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