Genomic Cancer Panel & Profiling Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2021-2031

The Global Genomic Cancer Panel & Profiling Market is projected to expand from a valuation of USD 11.09 Billion in 2025 to USD 19.16 Billion by 2031, registering a CAGR of 9.54%. These diagnostic technologies focus on sequencing specific genes or genomic regions to pinpoint mutations and alterations that fuel tumor development. The market’s upward trajectory is largely driven by the growing global incidence of cancer, which demands personalized therapeutic strategies, alongside the decreasing costs associated with next-generation sequencing workflows. Together, these factors encourage the incorporation of extensive molecular diagnostics into clinical settings to optimize targeted treatment planning.

This demand is intensified by the increasing disease burden; the American Cancer Society projects that new cancer cases in the United States will exceed 2 million for the first time in 2024. Despite this evident need, the market contends with significant hurdles related to complex reimbursement structures. Inconsistent insurance coverage for comprehensive molecular profiling continues to be a major obstacle, potentially limiting widespread adoption and restricting patient access to these critical testing capabilities.

Market Drivers

The rapid growth of non-invasive liquid biopsy profiling serves as a major market accelerator by addressing the constraints of conventional tissue sampling. These blood-based assays facilitate the detection of circulating tumor DNA, allowing for real-time tracking of disease progression and resistance mechanisms without the dangers linked to surgical biopsies. The shift toward less invasive diagnostics is underscored by increasing clinical testing volumes; for instance, Guardant Health reported in its November 2024 Third Quarter Financial Results that clinical test volume rose 21% year-over-year to 53,100 tests, signaling rapid clinical adoption of these tools.

Concurrently, the rise in biomarker-driven drug development requires the use of comprehensive genomic panels to identify candidates for targeted therapies. Pharmaceutical companies are heavily investing in precision oncology portfolios, fueling the need for companion diagnostics. Highlighting the commercial value of biomarker-targeted treatments, Pfizer reported in its October 2024 Third Quarter Results that oncology revenue was bolstered by an $854 million contribution from the acquired Seagen portfolio. This investment aligns with long-term forecasts of disease burden, as the World Health Organization’s International Agency for Research on Cancer predicted in 2024 that global cancer cases will exceed 35 million by 2050, emphasizing the urgency for scalable diagnostic solutions.

Market Challenges

Complicated reimbursement landscapes and inconsistent insurance coverage represent substantial obstacles to the expansion of the Global Genomic Cancer Panel & Profiling Market. Clinical laboratories and hospital systems are often reluctant to incorporate comprehensive genomic profiling into routine care when payment structures are unclear or unpredictable. This financial instability forces healthcare providers to depend on narrower, less costly diagnostic tests to prevent claim denials, which hinders the uptake of broader next-generation sequencing panels. Consequently, market expansion is stifled because financial administrators at medical facilities often view the economic risks of these advanced diagnostics as outweighing their clinical benefits.

Furthermore, the lack of uniformity in payer policies limits the total volume of testing and restricts revenue opportunities for diagnostic firms. Without standardized mandates, patients frequently encounter prohibitive out-of-pocket expenses, resulting in high rates of test abandonment. According to the American Cancer Society Cancer Action Network in 2024, only 16 states had enacted legislation guaranteeing coverage for comprehensive biomarker testing, leaving most of the United States population facing fragmented and restrictive insurance decisions. This regulatory patchwork creates a market where access depends more on geography and insurance plan type than on clinical necessity, effectively capping market penetration and growth.

Market Trends

The integration of Artificial Intelligence in Data Interpretation is transforming the market by addressing the challenge of analyzing vast genomic datasets. As sequencing outputs increase in complexity, AI algorithms have become crucial for deriving clinical insights and detecting rare variant patterns that might be overlooked during manual analysis. This technological convergence is driving commercial adoption, with diagnostic companies utilizing AI to refine precision medicine capabilities and boost operational efficiency. For example, Tempus AI reported in its January 2025 Preliminary Fourth Quarter and Full Year 2024 Results that full-year revenue reached approximately $693 million, marking a 30% year-over-year increase attributed largely to the strong adoption of its AI-powered precision medicine and genomic profiling solutions.

At the same time, the market is undergoing a distinct transition toward Comprehensive Genomic Profiling (CGP), moving away from limited hotspot panels in favor of broad-spectrum sequencing. This evolution is driven by emerging clinical data indicating that larger panels identify a significantly higher number of actionable alterations, thereby enhancing patient access to matched therapies relative to narrower diagnostic methods. This distinct clinical advantage is prompting healthcare systems to standardize broader testing protocols to reduce missed treatment opportunities. As noted by Illumina in a November 2024 press release regarding a new joint study, real-world evidence showed that 67% of tumors from CGP-tested patients contained actionable mutations, compared to just 33% in patients assessed with smaller 50-gene panels.

Key Players Profiled in the Genomic Cancer Panel & Profiling Market

• Agilent Technologies, Inc.
• ARUP Laboratories Inc.
• Burning Rock Biotech Limited
• U.S. Caris MPI, Inc.
• Danaher Corporation
• Exact Sciences Corporation
• F. Hoffmann-La Roche Ltd.
• Fulgent Genetics Inc.
• Illumina, Inc.
• Thermo Fisher Scientific Inc.

Report Scope

In this report, the Global Genomic Cancer Panel & Profiling Market has been segmented into the following categories:

Genomic Cancer Panel & Profiling Market, by Tissue Testing:

• Solid Tissue Testing
• Liquid Tissue Testing

Genomic Cancer Panel & Profiling Market, by Cancer Panel Type:

• Single-Gene Panel
• Multi-Gene Panel

Genomic Cancer Panel & Profiling Market, by Cancer Type:

• Lung Cancer
• Breast Cancer
• Colon Cancer
• Prostate Cancer
• Others

Genomic Cancer Panel & Profiling Market, by Application:

• Clinical
• Research

Genomic Cancer Panel & Profiling Market, by Technology:

• Next-Generation Sequencing (NGS)
• Polymerase Chain Reaction (PCR)
• Fluorescence In-Situ Hybridization (FISH)
• Immunohistochemistry (IHC)
• Others

Genomic Cancer Panel & Profiling Market, by End-User:

• Hospitals
• Clinical and Diagnostic Laboratories
• Others

Genomic Cancer Panel & Profiling Market, by Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Genomic Cancer Panel & Profiling Market.

Available Customization

The analyst offers customization according to your specific needs. The following customization options are available for the report:

• Detailed analysis and profiling of additional market players (up to five).

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