Overview and Scope
Cancer tumor profiling refers to a laboratory test that examines a sample of tumor tissue for specific genes, gene mutations (changes), proteins, or other biomarkers. Tumor profiling can help with treatment planning as well as predicting if cancer will recur or spread to other parts of the body.
Sizing and Forecast
The cancer tumor profiling market size has grown rapidly in recent years. It will grow from <b>$11.17 billion in 2023 to $12.93 billion in 2024 at a compound annual growth rate (CAGR) of 15.7%. </b> The growth in the historic period can be attributed to increasing cancer incidence, growth in precision medicine initiatives and research collaborations, improved cancer diagnostics and early detection methods, availability of a wide range of targeted therapy options, and supportive regulatory frameworks for cancer profiling tests.
The cancer tumor profiling market size is expected to see rapid growth in the next few years. It will grow to <b>$22.06 billion in 2028 at a compound annual growth rate (CAGR) of 14.3%. </b> The growth in the forecast period can be attributed to expansion of immunotherapy and immunoprofiling in cancer treatment, development of liquid biopsy and non-invasive tumor profiling methods, adoption of single-cell sequencing for more detailed tumor characterization, expansion of cancer screening and early detection programs, and increasing demand for rare and orphan cancer subtype profiling. Major trends in the forecast period include integration of tumor profiling into routine clinical practice, advances in multi-omics approaches, integration of artificial intelligence (ai) and machine learning in data analysis, personalized medicine and targeted therapy development, and advances in genomics and next-generation sequencing (ngs) technologies.
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Segmentation & Regional Insights
The cancer tumor profiling market covered in this report is segmented –
1) By Cancer Type: Lung Cancer, Breast Cancer, Colorectal Cancer, Prostate Cancer, Melanoma, Ovarian Cancer, Stomach Cancer, Pancreatic Cancer, Thyroid Cancer, Other Cancer Types
2) By Technology: Next-Generation Sequencing (NGS), Polymerase Chain Reaction (PCR), Immunohistochemistry (IHC), In Situ Hybridization (ISH), Microarray, Other Technologies
3) By Process Type: Genomics, Proteomics, Epigenetics, Metabolomics, Other Types
4) By Application: Personalized Medicine, Diagnostics, Biomarker Discovery, Prognostics, Research Applications
<b>North America</b> was the largest region in cancer and tumor profiling market in 2023. <b>Asia-Pacific</b> is expected to be the fastest-growing region in the forecast period. The regions covered in the cancer tumor profiling market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increasing incidences of cancer across the globe are expected to propel the growth of the cancer and tumor profiling market going forward. Cancer is a disease in which some cells in the body get uncontrollably large and spread to other parts of the body. As the number of cancer cases rises, so does the demand for cancer tumor profiling, which enables doctors to determine the severity of the disease. For instance, in 2021, According to the American cancer society, 1.8 million new cancer cases diagnosed in 2020. Therefore, the increasing incidences of cancer across the globe drive the growth of the cancer and tumor profiling market.
Key Industry Players
Major companies operating in the cancer tumor profiling market include <b> F. Hoffmann-La Roche Ltd., Caris Life Sciences, Thermo Fisher Scientific Inc., Illumina Inc., Qiagen, Ribomed Biotechnologies Inc., HTG Molecular Diagnostics Inc., NanoString Technologies Inc., NeoGenomics Laboratories Inc., Lucence Health Inc., ACT Genomics Co. LTD, Strand Life Sciences, IMB Dx Inc., Exact Sciences Corporation, Guardant Health, Foundation Medicine Inc., Agilent Technologies Inc., Myriad Genetics Inc., Personal Genome Diagnostics Inc., Tempus Labs Inc., ArcherDX Inc., Natera Inc., Bio-Rad Laboratories Inc., Genetron Health, NantHealth Inc., Resolution Bioscience, Genomic Testing Cooperative, OncoDNA, Strata Oncology Inc., Genuity Science, RareCyte Inc., Inivata Limited, Cepheid </b>
The cancer tumor profiling market report table of contents includes:
1. Executive Summary
2. Cancer Tumor Profiling Market Characteristics
3. Cancer Tumor Profiling Market Trends And Strategies
4. Cancer Tumor Profiling Market – Macro Economic Scenario
5. Global Cancer Tumor Profiling Market Size and Growth
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26. South America Cancer Tumor Profiling Market
27. Brazil Cancer Tumor Profiling Market
28. Middle East Cancer Tumor Profiling Market
29. Africa Cancer Tumor Profiling Market
30. Cancer Tumor Profiling Market Competitive Landscape And Company Profiles
Top Major Players:
- Hoffmann-La Roche Ltd
- Caris Life Sciences
- Thermo Fisher Scientific Inc
- Illumina Inc
- Qiagen
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