As per this study, the Global Cancer/Tumor Profiling Market was valued USD 46.78 BN (by revenue) in 2022 and is anticipated to reach USD 184.61 BN by 2030 with a CAGR of 18.72%.
Cancer/Tumor profiling is a technique intends to get knowledge about cancer profile and genomic alteration of a patient, which can offer useful insights related to the mechanism of cancer. Basically, this technique assists physicians to opt appropriate therapy, and at the same time eliminates the therapies, which are doubtful and avoid over-treatment of the patient. In addition, cancer profiling is not limited to common cancer such as breast cancer and lymphoma, but it is also useful in molecular profiling of lung cancer, prostate cancer, and acute leukemia.
Market Dynamics
The growing number of cancer cases across the globe is the major factor driving the demand for cancer/tumor profiling. The increasing utility of biomarkers and funding for cancer research is further fuelling the market growth. In addition to this, efficient and effective result of this profiling is also boosting the market growth. However, high cost associated with the diagnosis and usage of these methods for the treatment may hamper the market growth. Whereas, the rising need for point-of-care diagnostics and personalized medicines is expected to offer new opportunities growth to the market growth over the forecast period.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of cancer/tumor profiling.
Market Segmentation
The broad cancer/tumor profiling market has been sub-grouped into the application, technology and cancer type. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Technology
- Sequencing Technique
- Next-generation Sequencing (NGS)
- In Situ Hybridization (Fluorescence In Situ Hybridization (FISH), Chromogenic In Situ Hybridization (CISH))
- Immunohistochemistry
- Others
By Type
- Proteomics
- Epigenomics
- Metabolomics
- Genomics
By Application
- Research Applications (Personalized Cancer Medicines, Biomarker Discovery),
- Clinical Applications (Oncological Diagnostics, Monitoring And Treatment, Screening)
Regional Analysis
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for cancer/tumor profiling in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Cancer/Tumor Profiling Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the cancer/tumor profiling market include Lucence Health Inc., F. Hoffmann-La Roche Ltd, Caris Life Sciences, ACT Genomics Co., LTD, Thermo Fisher Scientific Inc., Strand Life Sciences, IMB Dx, Inc., Illumina, Inc., Guardant Health, QIAGEN, Ribomed Biotechnologies Inc., HTG Molecular Diagnostics, Inc., NanoString, NeoGenomics Laboratories, and Exact Sciences Corporation. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
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