Westford,USA, July 05, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, the global market for cancer tumor profiling is being propelled by two primary factors: the rising prevalence of cancer worldwide and the utilization of biomarkers in tumor profiling. The increasing incidence of cancer has spurred the demand for effective detection and treatment methods, driving the market's growth. Additionally, the advancements in technology and the surge in cancer research initiatives have further contributed to expanding the cancertumor profiling market.
Browse in-depth TOC on the "Cancer Tumor Profiling Market"
- Pages - 270
- Tables - 62
- Figures – 75
The increase in cancer incidences plays a significant role in driving the growth of the overall cancertumor profiling market. Cancer is a complex and widespread disease attributed to various factors. One of the contributing factors is global population growth and ageing. As the population continues to increase, and with advancements in healthcare leading to longer life expectancy, the overall incidence of cancer is expected to rise.
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Report Scope & Segmentation:
| Attributes | Details |
| Market Size in 2022 | USD 10.73 billion |
| 2030 Value Projection | USD 24.02 billion |
| CAGR | 10.6% |
| Forecast Period | 2023-2030 |
| Segments Covered |
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| Regions Covered |
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Prominent Players in the Cancer Tumor Profiling Market
- Illumina, Inc.
- Thermo Fisher Scientific, Inc.
- QIAGEN N.V.
- F. Hoffmann-La Roche AG
- Agilent Technologies, Inc.
- Myriad Genetics, Inc.
- Personal Genome Diagnostics Inc.
- Foundation Medicine, Inc.
- Guardant Health, Inc.
- NanoString Technologies, Inc.
- Genomic Health, Inc.
- Adaptive Biotechnologies Corporation
- Caris Life Sciences
- Becton, Dickinson and Company
- PerkinElmer, Inc.
- Natera, Inc.
- Oxford Nanopore Technologies
- Biocartis Group NV
- ArcherDX, Inc.
- Sysmex Corporation
ImmunoassaysSegmentis Expected to Grow in the market Due to Aiding in the Accurate Diagnosis
The immunoassays segment emerged as the dominant market share holder within the cancertumor profiling market. Immunoassays are widely utilized as a standard technique for conducting tumor profiling on a large scale. These tests play a crucial role in measuring the presence and concentration of analytes in a sample, aiding in the accurate diagnosis, prognosis, and treatment decision-making processes for cancer patients.
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The markets in North America are projected to hold the largest revenue share in the cancertumor profiling market, primarily driven by several key factors. The region boasts the presence of major players in cancer detection and treatment, contributing to the significant market share. These established companies possess extensive expertise, advanced technologies, and robust research and development capabilities, allowing them to lead the market and drive innovation.
Breast CancerSegment is Expected to Dominate the Market Due to the Increased Demand for Effective Tumor Profiling Techniques
The breast cancer segment holds the largest market share within the cancertumor profiling market, closely followed by lung cancer. Breast cancer is a significant market driver, contributing to its substantial share. The high prevalence and incidence of breast cancer worldwide have led to increased demand for effective tumor profiling techniques to aid in the diagnosis, treatment selection, and monitoring of the disease.
Regional markets in the Asia Pacific are poised to emerge as a highly lucrative cancertumor profiling market, exhibiting steady growth in the coming years. The region offers immense potential due to its large untapped markets and substantial population pool. The growing prevalence of cancer in Asia Pacific, combined with increasing awareness and access to healthcare services, is expected to drive the demand for cancer detection and treatment products.
A comprehensive analysis of the major players in the cancer tumor profilingmarket has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in the Cancer Tumor Profiling Market
- QIAGEN, a leading provider of molecular diagnostics solutions, recently introduced the therascreen EGFR Plus RGQ PCR Kit. This innovative in-vitro diagnostic test enables oncologists to conduct compassionate EGFR mutation analysis for non-small cell lung cancer (NSCLC) patients. By accurately identifying specific EGFR mutations, the test empowers oncologists to make more informed treatment decisions, improving outcomes for NSCLC patients.
- Illumina, a renowned genomics company, recently announced a strategic partnership with Agendia, a molecular diagnostics company specializing in cancer testing. The collaboration aims to advance next-generation sequencing (NGS) technology for decentralized oncology testing, particularly focusing on breast cancer.
Key Questions Answered in Cancer Tumor Profiling Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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