The Cancer Tumor Profiling Market size is expected to reach USD 31.99 Billion by 2027, according to a new report by Emergen Research.
The Cancer Tumor Profiling Market size is expected to reach USD 31.99 Billion by 2027, according to a new report by Emergen Research. This market’s growth is attributed to the increasing use of biomarkers in cancer profiling, eventually rising adoption of proteomic methods for biomarker research, thus helping to increase the drug development process over the estimated period. The growing demand for personalized medicine and the rise in cancer incidence across the globe is augmenting the demand for the industry. According to the World Health Organization (WHO), Lung and Breast cancer is a common type of cancer, with around 2.09 million cases every year. The growing demand for cancer tumor profiling is driving the market for the estimated period.
The rise in the adoption of the cancer tumor profiling methods by oncologists is seen to drive the market because of the efficacy of cancer tumor profiling for diagnosis at the early stage of cancer, which is one factor in boosting the market growth. However, technical issues with sample collection and storage remain one of the factors that hinder the growth of the market for the forecast period.
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Top Companies in Cancer Tumor Profiling Market are:
Foundation Medicine, Caris Life Sciences, Genomic Health, GenomeDX, Guardant Health, Ribomed Biotechnologies Inc., HTG Molecular Diagnostics, Inc., Nanostring Technologies, Neogenomics Inc., Helomics Corporation, Qiagen N.V., and Oxford Gene Technology, among others.
Cancer Tumor Profiling Market Drivers During Forecast Period:
By Reginal Outlook Segment:
North America occupied an enormous share of the industry in 2019, accounting for nearly 37.2% of the market share. The dominance can be attributed to the substantial growth in the clinical research activities and the presence of key market players in the region.
By Technique Type Outlook Segment:
The Genomics sub-segment contributed to the revenue with USD 2.76 billion in 2019 attributable to the extensive funding for the research institutes to develop modified medicine, thereby boosting the need for genomics. The use of genomics for cancer tumor profiling by numerous organizations is forecast to augment demand for genomics technologies over the coming years.
By Technology Outlook Segment:
Immunoassays sub-segment accounted for a substantial share of the industry in 2018 and is anticipated to retain the market share in the forecast timeframe. The immunoassays are used for the detection of tumors and have extensive applications in oncological screening, diagnostics, prognostics, monitoring, and treatment.
By Application Outlook Segment:
The Research application segment contributed to the revenue share with USD 5.67 billion in 2019, owing to the expansion of the research and development sector with increased funding and the increasing requirement for personalized medicine. The application of cancer tumor profiling allows the physicians to determine if the patient requires an additional diagnostic test.
Key Highlights from the Report:
- In January 2020, Caris Life Sciences, a leader in molecular science, announced the partnership between Precision Oncology Alliance and The Preston Robert Tisch Brain Tumor Center to boost the cancer tumor profiling segment and develop the standard of care for oncology molecular testing.
- Increasing investments by companies to develop novel products for cancer tumor profiling through technological advancements are also contributing to market growth. For instance, Qiagen, in May 2019, launched “therascreen PIK3CA RGQ PCR Kit” as a companion diagnostic to assist in the identification of breast cancer patients.
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For the purpose of the report, Emergen Research has segmented the Global Cancer Tumor Profiling Market on the basis of technique type, technology, application, and region:
Technique Type Outlook (Revenue, USD Billion; 2017-2027)
- Genomics
- Proteomics
- Metabolomics
- Epigenetics
Technology Outlook (Revenue, USD Billion; 2017-2027)
- Microarray
- In Situ Hybridization
- Fluorescence In Situ Hybridization (FISH)
- Chromogenic In Situ Hybridization (CISH)
- Polymerase Chain Reaction (PCR)
- Immunoassays
- Sequencing Technologies
- Next-Generation Sequencing (NGS)
- Sanger Sequencing
- Pyro Sequencing
- Other Technologies
Application Outlook (Revenue, USD Billion; 2017-2027)
- Research Application
- Personalized Cancer Medicine
- Biomarker Discovery
- Clinical Application
- Screening
- Prognostics
- Oncological Diagnostics
- Monitoring and Treatment
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- Rest of MEA
Reasons to buy the report:
- This study segments the Cancer Tumor Profiling market and derives the precise valuation of the overall, as well as segment-based, market across different industry verticals, geographies, and products.
- The report will help participants understand the trajectory of the progress of the market and provide information on key drivers, restraints, challenges, threats, and opportunities for the growth of the Cancer Tumor Profiling sectors.
- This Cancer Tumor Profiling report would allow readers to be well-versed with the existing competition and gain more insights to improve their standing in the worldwide business. The competitive landscape considers the dominant competitors, along with product launches and technological advancements, strategic expansions, mergers and acquisitions, and procurement strategies implemented by key players in the Cancer Tumor Profiling market.
Key features of the report:
- To study the key aspects impacting the Cancer Tumor Profiling market size.
- To identify growth prospects in the Cancer Tumor Profiling market.
- To analyze the Cancer Tumor Profiling market segments and deduce the dominant trends observed in the industry.
- To examine the Cancer Tumor Profiling market by investigating the available products, market share, and value proposition of the products.
- To analyze the industry by assessing the scope and application of the Cancer Tumor Profiling market and highlight the growth of each application.
Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2030
Chapter 3. Key Insights
Chapter 4. Cancer Tumor Profiling Market Segmentation & Impact Analysis
4.1. Cancer Tumor Profiling Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers’ analysis
4.2.3. Market restraints analysis
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Continued…
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