The global cancer/tumor profiling market size was valued at USD 13.3 billion in 2023. It is expected to grow at a CAGR of 9.30% during the forecast period of 2024-2032, driven by the escalating integration of AI and machine learning in cancer/tumor profiling. The market is experiencing robust growth and is expected to reach USD 29.6 billion by 2032.
This product will be delivered within 5-7 business days.
Global Cancer/Tumor Profiling Market Analysis
The global cancer/tumor profiling market is a rapidly evolving sector within the healthcare industry, driven by advancements in molecular biology and genomics. Cancer/tumor profiling involves the use of various technologies to analyse the genetic, molecular, and biochemical characteristics of cancerous cells. This profiling helps in understanding tumor behavior, enabling personalised treatment plans and improving patient outcomes.Market Drivers
- Increasing Prevalence of Cancer: The rising incidence of various cancers globally is a significant driver for the cancer/tumor profiling market. According to the World Health Organization (WHO), cancer is one of the leading causes of death worldwide, necessitating advanced diagnostic and treatment solutions.
- Advancements in Genomic and Molecular Research: Technological advancements in genomics and molecular biology have revolutionised cancer profiling. Next-generation sequencing (NGS), polymerase chain reaction (PCR), and other advanced technologies enable detailed analysis of genetic mutations and alterations in tumors.
- Growing Demand for Personalised Medicine: Personalised medicine, which tailors treatment to individual genetic profiles, is gaining traction. Cancer/tumor profiling is a cornerstone of personalised medicine, providing insights that help in selecting the most effective therapies for individual patients.
- Government and Private Funding: Increased funding from government and private organisations for cancer research and development is boosting the market. Grants and investments support the development of innovative profiling techniques and the integration of these methods into clinical practice.
- Rising Adoption of Biomarker-Based Therapies: The use of biomarkers in cancer treatment is becoming more prevalent. Biomarkers identified through profiling can predict response to therapies, monitor disease progression, and aid in the development of targeted treatments.
Market Challenges
- High Cost of Profiling Technologies: The cost of advanced cancer profiling technologies is high, which can be a barrier to widespread adoption, especially in low-income regions. The expense of equipment, reagents, and skilled personnel contributes to the overall cost.
- Complexity of Data Interpretation: The vast amount of data generated from genomic and molecular profiling requires sophisticated analytical tools and expertise to interpret. This complexity can hinder the integration of profiling into routine clinical practice.
- Regulatory and Ethical Issues: The regulatory landscape for cancer profiling technologies is complex and varies by region. Ensuring compliance with regulations and addressing ethical concerns related to genetic testing and patient data privacy are significant challenges.
- Limited Access in Developing Regions: In many developing regions, access to advanced cancer profiling technologies is limited due to lack of infrastructure, funding, and trained personnel. This disparity can lead to inequalities in cancer diagnosis and treatment.
Future Opportunities
- Expansion in Emerging Markets: Emerging markets in Asia-Pacific, Latin America, and Africa offer significant growth opportunities. Increasing healthcare investments, improving infrastructure, and rising awareness about advanced cancer diagnostics are driving market expansion in these regions.
- Integration with Artificial Intelligence (AI): The integration of AI and machine learning with cancer profiling technologies can enhance data analysis and interpretation. AI algorithms can identify patterns and correlations in large datasets, providing valuable insights for personalised treatment strategies.
- Development of Non-Invasive Profiling Techniques: Research and development efforts are focused on creating non-invasive profiling methods, such as liquid biopsies. These techniques analyse circulating tumor DNA (ctDNA) or other biomarkers in blood samples, offering a less invasive alternative to traditional biopsies.
- Collaborations and Partnerships: Collaborations between pharmaceutical companies, research institutions, and diagnostic labs can accelerate the development and adoption of cancer profiling technologies. Partnerships can facilitate knowledge sharing, innovation, and the commercialisation of new products.
- Advancements in Precision Medicine: Continued advancements in precision medicine are expected to drive the demand for cancer/tumor profiling. As more targeted therapies are developed, profiling will play a crucial role in identifying suitable candidates and monitoring treatment efficacy.
Global Cancer/Tumor Profiling Market Trends
- Growth in Precision Medicine
- Advancements in Next-Generation Sequencing (NGS)
- Increasing Use of Liquid Biopsies
- Integration of Artificial Intelligence (AI) and Machine Learning
- Growing Importance of Biomarkers
- Expansion in Emerging Markets
- Development of Multi-Omics Approaches
Global Cancer/Tumor Profiling Market Segmentation
Market Breakup by Technology
- Immunoassays
- Next-Generation Sequencing
- Polymerase Chain Reaction
- Immunohistochemistry
- In-Situ Hybridisation
- Microarray
- Others
Market Breakup by Biomarker-Type
- Genomic Biomarker
- Protein Biomarker
Market Breakup by Application
- Personalised Medicine
- Biomarker Discovery
- Diagnostics
- Prognostics
- Others
Market Breakup by Cancer-Type
- Breast Cancer
- Lung Cancer
- Prostate Cancer
- Colorectal Cancer
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Global Cancer/Tumor Profiling Market Competitive Landscape
The cancer/tumor profiling market features key players including QIAGEN, Illumina, Inc., BD, NeoGenomics Laboratories, Siemens Healthineers AG, HTG Molecular Diagnostics, Inc., Predictive Oncology, Caris Life Sciences, Hologic, Inc., Thermo Fisher Scientific Inc., Guardant Health, F. Hoffmann-La Roche Ltd, Laboratory Corporation of America Holdings, PerkinElmer Inc., and Exact Sciences Corporation. Common market activities among these companies include mergers and acquisitions to enhance market presence and capabilities, extensive research initiatives to innovate and improve profiling technologies, new product introductions to meet evolving clinical needs, and strategic partnerships with healthcare providers and research institutions to expand their market reach and foster technological advancements. These strategies collectively enhance competitive positioning and drive market growth.Key Questions Answered in the Report
- What is the current and future performance of the cancer/tumor profiling market?
- What are the main challenges facing the cancer/tumor profiling market?
- What are the key drivers of the cancer/tumor profiling market?
- What emerging trends are shaping the future of the cancer/tumor profiling market?
- How is next-generation sequencing (NGS) revolutionising cancer profiling and guiding targeted therapy decisions?
- Why are multi-omics approaches gaining traction in cancer profiling, and how do they benefit treatment?
- How do NGS and PCR technologies dominate the cancer profiling market, and what roles do immunoassays and immunohistochemistry play?
- Why does personalised medicine lead the cancer/tumor profiling market, and how does it benefit from genetic profiling?
- How do advancements in genomic profiling and early detection initiatives impact the lung, prostate, and colorectal cancer profiling market?
- What are the common strategies used by key players in the cancer/tumor profiling market?
Key Benefits for Stakeholders
- The industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the global cancer/tumor profiling market from 2017-2032.
- The research report provides the latest information on the market drivers, challenges, and opportunities in the cancer/tumor profiling market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyse the level of competition within the cancer/tumor profiling industry and its attractiveness.
- The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.
This product will be delivered within 5-7 business days.
Table of Contents
1 Preface
3 Global Cancer Tumor Profiling Market Overview
4 Vendor Positioning Analysis
5 Global Cancer Tumor Profiling Market Landscape*
6 Global Cancer Tumor Profiling Market Dynamics
7 Global Cancer Tumor Profiling Market Segmentation (2017-2032)
8 North America Cancer Tumor Profiling Market (2017-2032)
9 Europe Cancer Tumor Profiling Market (2017-2032)
10 Asia Pacific Cancer Tumor Profiling Market (2017-2032)
11 Latin America Cancer Tumor Profiling Market (2017-2032)
12 Middle East and Africa Cancer Tumor Profiling Market (2017-2032)
13 Regulatory Framework
14 Patent Analysis
15 Strategic Initiatives
16 Supplier Landscape
17 Global Cancer Tumor Profiling Market - Distribution Model (Additional Insight)
18 Key Opinion Leaders (KOL) Insights (Additional Insight)
Companies Mentioned
- 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
- Sysmex Corporation
- GenScript
- Guardant Health
Methodology
LOADING...
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 200 |
Published | July 2024 |
Forecast Period | 2024 - 2032 |
Estimated Market Value ( USD | $ 14.6 Billion |
Forecasted Market Value ( USD | $ 29.6 Billion |
Compound Annual Growth Rate | 9.3% |
Regions Covered | Global |
No. of Companies Mentioned | 15 |