Cancer/Tumor Profiling Market Size And Forecast
Cancer/Tumor Profiling Market size was valued at USD 45783.91 Million in 2020 and is projected to reach USD 168625.6 Million by 2028, growing at a CAGR of 17.72% from 2021 to 2028.
The growing demand for cancer profiling methods by oncologists to diagnose or treat cancers as well as predict the response to targeted therapy is the factor expected to stir up the growth of the market. The Global Cancer/Tumor Profiling Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Cancer/Tumor Profiling Market Definition
Cancer is a result of an uncontrolled growth of abnormal cells, driven by genetic (molecular) changes that are either acquired or inherited from our parents. Each cancer has a unique set of molecular changes in the cancer cells. Technological developments have made a molecular profiling analysis possible; this allows doctors to distinguish the molecular differences between cancer cells and healthy cells. Molecular profiling involves the use of various technologies to understand the underlying characteristics that are found in cancer cells.
Biomarkers are molecules that show either normal or abnormal signs or processes in the body, abnormal signs could indicate disease. Cancer profiling gives information about the genes causing cancer. The potential of cancer profiling is not only limited to common cancers, such as breast and lymphoma cancer, but it is also useful in molecular profiling of prostate cancer, lung cancer, and acute leukemia. Cancer profiling plays a prime role in the diagnosis at the molecular level, as a better understanding of the cancer tumors helps physicians to make appropriate therapeutic decisions and avoid “over-treatment” of the cancer patients.
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Also, conventional cancer treatment therapies such as chemotherapy and radiotherapy continue to hold sway, researchers are touting more precision-based and targeted approaches to streamline the entire process. That such transformative technological impacts are prompting diagnostics providers to seek highly sophisticated cancer profiling approaches. The prime breakthrough observed in this regard is the advent of nanomedicine. In the conventional sense, nanomedicines are used to modulate biodistribution and target site accumulation of systemically administered chemotherapy drugs to strike a balance between efficacy and toxicity.
Global Cancer/Tumor Profiling Market Overview
The increasing demand for cancer profiling methods by oncologists to diagnose or treat cancers as well as predict the response to targeted therapy is the factor expected to stir up the growth of the market. However, an escalating number of adoptions of cancer biomarkers for tumor profiling, growth in the usage of next-generation sequencing techniques for cancer profiling, and majorly a rising incidence of cancer across the globe boost the Cancer/Tumor Profiling Market growth. Besides, the shortage of skilled professionals or oncologists specific to tumor profiling and the high monetary investments for the development of biomarkers are the factors that might impede the market growth.
In addition, the apex cost of cancer profiling tests, as well as a lack of access to the healthcare infrastructure required for cancer profiling, are limiting the Cancer/Tumor Profiling Market’s expansion over the forecast period. Tumour profiling tests are cutting-edge, and they function by identifying tumor mutations and establishing a therapy pathway tailored to the patient’s needs. Due to the outrageous cost of these tests, which are such sophisticated technology, they are only used by a small percentage of the population in economically depressed areas.
Other factors affecting market growth include a lack of understanding about elegance technology, low spending capacity, lack of access to healthcare facilities, and cancer identity at a later stage. While the ongoing cancer therapeutic scenario is lagging behind in biomarker development, considerable investments are in pipeline, and their outcome is expected to aid in the progress of the Cancer/Tumor Profiling Market in the upcoming year. Therefore, government initiatives have been undertaken to contain the spread of this debilitating disease. These include launching awareness campaigns and promoting highly advanced cancer profiling and detection research.
Global Cancer/Tumor Profiling Market Segmentation Analysis
The Global Cancer/Tumor Profiling Market is Segmented on the basis of Technology, Technique, Application, And Geography.
Cancer/Tumor Profiling Market, By Technology
• Sequencing Technique
• Next-generation Sequencing (NGS)
• In Situ Hybridization
o Fluorescence In Situ Hybridization (FISH)
o Chromogenic In Situ Hybridization (CISH)
• Immunohistochemistry
• Others
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Based on Technology, The market is segmented into Sequencing Technique, Next-Generation Sequencing (NGS), In Situ Hybridization, Immunohistochemistry, and Others. The fluorescence in-situ hybridization (FISH) segment holds a big market share. FISH profiling is less time-consuming as compared to conventional approaches. It assists in easy chromosomal microdeletion, amplification, and translocation. Also, the new alternative strategy called next-generation sequencing (NGS) allows clinicians to test many genes of cancer simultaneously. Next-generation sequencing can be performed on material from a patient’s tumor that has been biopsied or surgically removed.
Cancer/Tumor Profiling Market, By Technique
• Genomics
• Metabolomics
• Proteomics
• Epigenetics
Based on Technique, The market is segmented into Genomics, Metabolomics, Proteomics, and Epigenetics. The Genomics segment holds the big market share. Genomics offers several benefits such as better low cost, screening time, and assistance in identifying large-sized evaluated genomes. Genomics, the study of genes, is making it possible to predict, diagnose, and treat diseases more precisely and personally than ever. A complete human genome contains three billion base pairs of DNAs, uniquely arranged to give us our fundamental anatomy and individual characteristics such as height and hair color. Also, metabolomics is a useful approach for identifying biomarkers and metabolic alterations in cancer patients.
Cancer/Tumor Profiling Market, By Application
• Personalized Cancer Medicine
• Oncological Diagnostics
• Research Applications
o Bio-Maker Discovery
o Cancer Research
Based on Application, The market is segmented into Personalized Cancer Medicine, Oncological Diagnostics, and Research Applications. The Research Applications segment holds the big market share. Due to rapid advancement in personalized targeted therapy & gene profiling solutions, biomarker plays a vital role in developing drug regimens for cancer patients. Genome-based prognostic biomarkers are presently being engaged in the prognosis of several types of cancers at starting clinical stages along with aiding in therapy & drug improvement.
Cancer/Tumor Profiling Market, By Geography
• North America
• Europe
• Asia Pacific
• Rest of the world
On the basis of Geography, The Global Cancer/Tumor Profiling Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The North American region is expected to witness the highest CAGR during the forecast period. This is primarily due to the rise in disposable income in these countries, and growth in urbanization. The large share of this segment is attributed to key factors such as the existence of key players, advancement in technology, increasing prevalence of cancer, and growing investment in oncology research to discover new treatments. On the other hand, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. This growth is owing to factors like large population size, advancements in medical science, and rising disposable income.
Key Players
The “Global Cancer/Tumor Profiling Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as Qiagen N.V., Illumina Inc., Neogenomics Inc., HTG Molecular Diagnostics, Inc., Genomic Health, Helomics Corporation, Caris Life Sciences, Nanostring Technologies, Oxford Gene Technology, Ribomed Biotechnologies Inc.
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