The global cancer/tumor profiling market reached a value of US$ 9.38 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 18.22 Billion by 2027 exhibiting a CAGR of 11.20% during 2022-2027.
Cancer/tumor profiling, also called biomarker testing, represents a laboratory test or procedure that is used for identifying specific proteins, gene mutations, and other biomarkers in a tumor tissue sample. It assists in therapeutic decision-making, routine diagnostics, and developing customized treatment therapies and plans for patients based on the severity of their diseases and genomic build-up. Consequently, cancer/tumor profiling finds wide-ranging applications in research, prognostics, the discovery of biomarkers, the development of screening and diagnostic techniques, etc.
Base Year: 2021
Forecast Year: 2022-2027
Cancer/Tumor Profiling Market Trends and Drivers:
The growing number of clinical trials and the increasing adoption of immunoassay techniques are among the primary factors driving the cancer/tumor profiling market. Moreover, the launch of various favorable policies by government bodies across countries for introducing numerous innovative techniques to reduce the time taken for the detection and identification of tumors is further catalyzing the market growth.
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In line with this, several technological advancements in molecular biology techniques, such as next-generation sequencing (NGS), are augmenting the utilization of cancer/tumor profiling, which, in turn, is acting as another significant growth-inducing factor. Additionally, the elevating consumer inclination towards personalized medicines is also positively influencing the global market.
Besides this, the inflating investments by pharmaceutical and biotechnology companies in R&D activities for developing new drug designing techniques and novel therapies are anticipated to fuel the cancer/tumor profiling market over the forecasted period.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Cancer/Tumor Profiling Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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.
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The report has segmented the market on the basis of region, cancer type, technology, technique and application.
Breakup by Cancer Type:
- Breast Cancer
- Lung Cancer
- Colorectal Cancer
- Prostate Cancer
- Melanoma Cancer
Breakup by Technology:
- Next-Generation Sequencing (NGS)
- Polymerase Chain Reaction (PCR)
- Immunohistochemistry (IHC)
- In-Situ Hybridization (ISH)
Breakup by Technique:
Breakup by Application:
- Personalized Medicine
- Biomarker Discovery
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
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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