Global Cancer Tumor Profiling Market, By Cancer Type (Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Melanoma Cancer, Other Cancer), Biomarker Type (Genomic Biomarker, Protein Biomarker), Technology (Immunoassays, Next-Generation Sequencing, Polymerase Chain Reaction, Mass Spectrometry, In-Situ Hybridization, Microarrays, Others), Technique (Genomics, Proteomics, Metabolomics, Epigenetics), Application (Research, Biomarker Discovery, Personalized Medicine, Clinical Application, Diagnostics, Prognostics, Screening, Treatment and Monitoring) – Industry Trends and Forecast to 2029.
Global Cancer Tumor Profiling Market Analysis and Size
Cancer tumor profiling is increasingly being used in the western economies owing to the rising prevalence of cancer all around the world. Cancer is the second most leading cause of death all around the world. 1 out of 6 deaths globally is due to cancer. 70% of deaths occur as a result of cancer in middle class and low class economies. This has widened the scope of growth for the market.
- Data Bridge Market Research analyses that the cancer tumor profiling market is expected to undergo a CAGR of 12.75% during the forecast period. This indicates that the market value, which was USD 9.35 billion in 2021, would rocket up to USD 24.44 billion by 2029. “Immunoassays” dominates the technology segment of the cancer tumor profiling market owing to rising application in conduct tumor profiling on a large scale as they help measure the presence and concentration of analytes in a sample. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Global Cancer Tumor Profiling Market Definition
From the name itself, it is clear that cancer tumor profiling is a diagnostic procedure or diagnostic test that is conducted to analyse the genetic information of tumor cells in the body. These diagnostic tests are useful in determining the stage of cancer, determining the correct course of action and predicting the recurrence of tumor.
2022 to 2029
2020 (Customizable to 2019 - 2014)
Revenue in USD Billion, Volumes in Units, Pricing in USD
Cancer Type (Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Melanoma Cancer, Other Cancer), Biomarker Type (Genomic Biomarker, Protein Biomarker), Technology (Immunoassays, Next-Generation Sequencing, Polymerase Chain Reaction, Mass Spectrometry, In-Situ Hybridization, Microarrays, Others), Technique (Genomics, Proteomics, Metabolomics, Epigenetics), Application (Research, Biomarker Discovery, Personalized Medicine, Clinical Application, Diagnostics, Prognostics, Screening, Treatment and Monitoring)
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Market Players Covered
Illumina, Inc. (US), QIAGEN (Germany), NeoGenomics Laboratories, Inc. (US), HTG Molecular Diagnostics, Inc. (US), Genomic Health Inc. (US), Caris Life Sciences (US), Helomics Corporation (US), NanoString Technologies, Inc. (US), Sysmex Corporation (Japan), Ribomed Biotechnologies, Inc. (US), Guardant Health, Inc. (US), Foundation Medicine (US) Roche Diagnostics (Switzerland), (US), GenScript Biotech Corporation (China), Tempus Labs (US), Boreal Genomics Inc (Canada), Perthera (US), Agendia (US), Omniseq (US) and Histogene X (Belgium)
Cancer Tumor Profiling Market Dynamics
- Rising prevalence of cancer
Surging prevalence of cancer all around the globe is one of the major factors responsible for fostering the growth of the market. Growing adoption of cancer profiling methods by oncologists in the developing economies is carving the way for the growth of the market. According to a 2018 report by World Health Organisation, cancer was responsible for 9.6 million deaths globally.
- Research and development proficiencies
Rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to the medical instruments and devices will further create lucrative market growth opportunities. Research and development proficiencies being conducted for the integration of advanced technologies in the healthcare facilities and to enhance the overall course of diagnosis and treatment of cancer is also bolstering the market growth rate.
- Government investments on healthcare infrastructure
The increase in the funding by the federal government is set to drive the market growth rate. Moreover, growth and expansion of healthcare industry being driven by both public and private players especially in the developing economies will create lucrative market growth opportunities. Also, high return on investments assured by the research activities and increasing technological advancements in the field of cancer/tumor profiling will also work in the favour of the market.
Additionally, increase in utilization of cancer biomarkers for diagnosing cancer/tumor, surge in the personal disposable income level, introduction of technologically driven products in hospitals, increasing investment for the development of advanced medical products and devices, rise in need for point-of-care diagnostics and surging demand for personalised medicines among people, positively affect the market growth rate.
Furthermore, upsurge in the public-private funding for target research activities, emergence of cancer profiling over traditional cancer diagnostic methods , rising geriatric population base and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period of 2022 to 2029. Additionally, surging number of strategic collaborations, rising internet penetration rate, growing number of hospitals and laboratories, growing cases of lung cancer, prostate cancer, and acute leukemia and increasing per capita expenditure on health care will further expand the market's growth rate in the future.
Restraints/Challenges Global Cancer Tumor Profiling Market
On the other hand, high cost associated with the research and development proficiencies, limited infrastructural facilities and technical issues in sample collection and storage are expected to obstruct market growth. Also, lack of favourable reimbursement scenario and technology penetration in the developing economies, requirement for high capital investments, poor regulatory norms, low discovery-to-approval ratio and lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market in the forecast period of 2022-2029.
This cancer tumor profiling market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cancer tumor profiling market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Cancer Tumor Profiling Market
COVID-19 has slightly impacted the market. This is because of the significant drop in the number of diagnostic tests. The measures and healthcare resources were solely utilized towards the demands arising out of the pandemic and this is the reason behind the cancellation on diagnostic tests. Also, cancer treatment of surgeries, radiation therapy, and chemotherapy sessions were put on a halt in this pandemic phase especially due to movement restrictions and lockdown in mostly every big economic nation. However, with the rising relaxations, the market is expected to rise back to the 2019 level or pre-pandemic levels.
Global Cancer Tumor Profiling Market Scope
The cancer tumor profiling market is segmented on the basis of cancer type, biomarker type, technology, technique and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Breast Cancer
- Lung Cancer
- Colorectal Cancer
- Prostate Cancer
- Melanoma Cancer
- Other Cancer
On the basis of cancer type, the cancer tumor profiling market is segmented into breast cancer, lung cancer, colorectal cancer, prostate cancer, melanoma cancer and other cancer.
- Genomic Biomarker
- Protein Biomarker
On the basis of biomarker type, the cancer tumor profiling market is segmented into genomic biomarker and protein biomarker.
- Next-Generation Sequencing
- Polymerase Chain Reaction
- Mass Spectrometry
- In-Situ Hybridization
On the basis of technology, the cancer tumor profiling market is segmented into immunoassays, next-generation sequencing, polymerase chain reaction, mass spectrometry, in-situ hybridization, microarrays and others.
On the basis of technique, the cancer tumor profiling market is segmented into genomics, proteomics, metabolomics and epigenetics.
- Biomarker Discovery
- Personalized Medicine
- Clinical Application
- Treatment and Monitoring
On the basis of application, the cancer tumor profiling market is segmented into research, biomarker discovery, personalized medicine, clinical application, diagnostics, prognostics, screening and treatment and monitoring.
Cancer Tumor Profiling Market Regional Analysis/Insights
The cancer tumor profiling market is analysed and market size insights and trends are provided by country, cancer type, biomarker type, technology, technique and application as referenced above.
The countries covered in the cancer tumor profiling market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the cancer tumor profiling market because of the strong base of healthcare facilities, rising investment from key players in the growth of the advanced devices, high prevalence of cancer, increased research in oncology to identify and discover novel therapy for treatment and rising number of research activities in this region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increase in government initiatives to promote awareness, rise in medical tourism, growing research activities in the region, availability of massive untapped markets, large population pool and the growing demand for quality healthcare in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The cancer tumor profiling market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for cancer tumor profiling market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the cancer tumor profiling market. The data is available for historic period 2010-2020.
Competitive Landscape and Cancer Tumor Profiling Market Share Analysis
The cancer tumor profiling market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cancer tumor profiling market.
Some of the major players operating in the cancer tumor profiling market are Illumina, Inc. (US), QIAGEN (Germany), NeoGenomics Laboratories, Inc. (US), HTG Molecular Diagnostics, Inc. (US), Genomic Health Inc. (US), Caris Life Sciences (US), Helomics Corporation (US), NanoString Technologies, Inc. (US), Sysmex Corporation (Japan), Ribomed Biotechnologies, Inc. (US), Guardant Health, Inc. (US), Foundation Medicine (US) Roche Diagnostics (Switzerland), (US), GenScript Biotech Corporation (China), Tempus Labs (US), Boreal Genomics Inc (Canada), Perthera (US), Agendia (US), Omniseq (US) and Histogene X (Belgium) among others.
Research Methodology : Global Cancer Tumor Profiling Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-cancer-tumor-profiling-market
Customization Available : Global Cancer Tumor Profiling Market
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.