According to a new report by Expert Market Research titled, “Global Cancer/Tumour Profiling Market Share, Size, Report and Forecast 2024-2032″, the global cancer/tumour profiling market reached a value of around USD 9.47 billion in 2023. Aided by growing rate of cancer globally and the growing use of biomarkers in the production of tumours, the market is projected to further grow at a CAGR of 10.2% between 2024 and 2032 to reach a value of USD 17 billion by 2032.
Cancer/tumour profiling involves the analysis of cancerous cells to understand their genetic conditions. This intricate profile aids clinicians in identifying specific therapies that are most effective for individual patients, thereby increasing the success rate of cancer treatment. This technique uses several platforms, such as Next-Generation Sequencing (NGS), Polymerase Chain Reaction (PCR), and Immunohistochemistry (IHC), for the detection and treatment planning of various types of cancers.
Technological advancements in the field of genetics and genomics are growing cancer/tumour profiling market trends. With the increasing reliance on molecular biology and genetics for disease diagnosis, the focus on tumour profiling has risen. Emerging technologies like liquid biopsies and machine learning algorithms for data analysis are strengthening the effectiveness and efficiency of cancer profiling.
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The development of novel diagnostic techniques and platforms is bringing more sophisticated tools into the market. These developments are expected to further bolster the market expansion. Advanced platforms with the capacity to perform multi-panel tests are emerging, enabling clinicians to gather extensive data from a single test. This capability is expected to enhance the predictive accuracy of these tests, and, by extension, the quality of personalised therapies offered.
Boosting the cancer/tumour profiling market growth are factors such as the rising prevalence of cancer globally and the intensifying focus on personalised medicine. Personalised medicine caters to individual genetic and molecular profiles, making treatments more effective and reducing potential side effects. The increased funding for oncology research, coupled with substantial advancements in high-throughput technologies, has led to a more refined and target-specific approach towards cancer treatment.
Growing adoption of these technologies within healthcare systems globally is also contributing to the rising cancer/tumour profiling market demand. Medical professionals are relying increasingly on genomic data to make informed decisions on treatment options, especially in oncology. Medical trend is fuelled by the high success rates witnessed with targeted therapies and immunotherapies, which are largely dependent on accurate cancer profiling.
Delving deeper into the cancer/tumour profiling market analysis, significant collaborations and partnerships between healthcare providers, research institutions, and companies engaged in diagnostics and drug development have been observed. These alliances are focused on leveraging advanced technologies and research findings to offer more robust and clinically proven cancer profiling solutions. For instance, integrated platforms that combine genomic, proteomic, and metabolomic data are increasingly being explored for their potential to provide a more comprehensive overview of a tumour’s characteristics.
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Market Segmentation
The market can be divided based on cancer type, biomarker type, technology, application, and region.
Market Breakup by Cancer Type
• Breast Cancer
• Lung Cancer
• Colorectal Cancer
• Prostate Cancer
• Melanoma
• Others
Market Breakup by Biomarker Type
• Genetic Biomarkers
• Protein Biomarkers
• Others
Market Breakup by Technology
• Immunoassays
• Next-Generation Sequencing
• Polymerase Chain Reaction
• In Situ Hybridization
• Microarrays
• Mass Spectrometry
• Others
Market Breakup by Application
• Research Applications
o Biomarker Discovery
o Personalised Medicine
• Clinical Applications
o Diagnostics
o Prognostics
o Monitoring and Treatment
o Screening
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global cancer/tumour profiling market. Some of the major players explored in the report by Expert Market Research are as follows:
• Illumina, Inc. (NASDAQ: ILMN)
• Qiagen N.V.
• NeoGenomic Laboratories, Inc.
• Sysmex Corporation
• HTG Molecular Diagnostics, Inc.
• Helomics Corporation
• Caris Life Sciences
• Others
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