Cancer/Tumor Profiling Market Size, Share, Growth Report 2032

Industry Prospective:

The global cancer/tumor profiling market size was worth around USD 9.5 billion in 2021 and is predicted to grow to around USD 25.3 billion by 2030 with a compound annual growth rate (CAGR) of roughly 11.5% between 2022 and 2030. The report analyzes the global cancer/tumor profiling market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in cancer/tumor profiling market.      

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Cancer/Tumor Profiling Market: Overview

Cancer is a life-threatening disease differentiated by uncontrolled cell growth. It is mostly caused by environmental reasons that alter the gene encoding responsible for cell regulation. The consequential cell mutation results in abnormal cell growth that devastates the neighboring normal tissue and then extends the disease to very important organs. Cancer/tumor profiling is done to get knowledge about the cancer profile & genomic alterations of a patient that help physicians to direct a patient with the most suitable therapy. In addition, profiling also assists physicians to eliminate therapies that are doubtful to be doing well and hence, decreases the mistakes and trial procedures.

Key Insights

• As per the analysis shared by our research analyst, the global cancer/tumor Profiling market is estimated to grow annually at a CAGR of around 11.5% over the forecast period (2022-2030).
• In terms of revenue, the global cancer/tumor profiling market size was valued at around USD 9.5 billion in 2021 and is projected to reach USD 25.3 billion, by 2030.
• A large increase in government funding and support for cancer research to create cutting-edge methods that will speed up the process of finding and identifying cancer/tumors are expected to drive market expansion.
• Based on the technology, the immunoassays segment accounted for the largest revenue share in 2021.
• Based on the cancer type, the lung and breast cancer segment is expected to dominate the market over the forecast period.
• Based on region, North America is expected to dominate the market during the forecast period.

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Cancer/Tumor Profiling Market: Growth Drivers

Increased cancer incidence and improvements in tumor profiling technology to drive the market growth

In 2020, the WHO estimates that there will be an increase in cancer cases of 19.3 million, with 10 million deaths worldwide. Breast and lung cancer accounted for 23.1% of all cancer diagnoses among these new cases. Due to the constantly increasing number of cancer cases, leading players have significantly increased their investments in the development of novel technologies for cancer profiling, which is anticipated to promote the global cancer/tumor profiling market revenue growth.

An illustration of such cutting-edge cancer profiling technology is chromogenic in situ hybridization (CISH), which was created expressly for the detection of HER-2/neu oncogene amplification, which verifies the existence of breast cancer. Fluorescence In Situ Hybridization (FISH), on the other hand, is a technique used to identify chromosomal abnormalities and is thought to be of superior standards due to its precision and high resolution.

Cancer/Tumor Profiling Market: Restraints

Collection and storage issues

Blood and serum samples are needed for tumor/cancer profiling, and for accurate findings, they must be stored in sterile conditions with maximum protection. Testing for human genetic reports must be accurate and legitimate, which necessitates appropriate storage conditions and specialized containers for samples and testing. Therefore, difficulties with collecting and storage may be a significant factor limiting market revenue growth.

Cancer/Tumor Profiling Market: Opportunities

Increasing preference for personalized medicine

The identification, classification, and treatment of diseases are changing as a result of personalized medicine, which has emerged as a major topic of research in the healthcare sector. Numerous genetic or molecular markers frequently influence tumor behavior. Rapid developments in tumor genetic profiling have greatly increased understanding of tumor behavior and helped design individualized chemotherapy regimens for patients. As a result, there is a drive in societal structure and medicine to treat cancer using precision oncology and personalized medicine. Thus, the increased use of tumor profiling approaches as diagnostic and therapeutic development tools is anticipated to increase in response to the rising need for efficient tailored treatment, driving the global cancer/tumor profiling market's growth.

Cancer/Tumor Profiling Market: Challenges

Low biomarker discovery-to-approval ratio

Numerous possible biomarkers have been found due to research. Despite recent developments, biomarkers have not yet reached their full potential in human medicine due to confusion about a few fundamental concepts. One of the biggest problems is that reliable clinical biomarker testing is not widely accepted. It happens much too frequently that biomarkers discovered in preliminary discovery studies fail to exhibit reproducible activity during later validation. While novel biomarkers are being created slowly, existing biomarkers are far from complete and frequently lack specificity. Better biomarkers are now required to enhance cancer detection, direct molecularly focused therapy, and track activity and therapeutic response.

Cancer/Tumor Profiling Market: Segmentation

The global cancer/tumor profiling market is segmented based on technology, cancer type, biomarker type, application, and region

Based on the technology, the global market is bifurcated into immunoassays, next-generation sequencing, polymerase chain reaction, mass spectrometry, in-situ hybridization, microarrays, and others. The immunoassays segment accounted for the largest revenue share in 2021 and is expected to continue this pattern during the forecast period. The segmental growth is attributed to the use of these tests for making decisions about cancer diagnosis, prognosis, and treatment as well as the widespread use of these tests as the gold standard for tumor profiling.

Moreover, due to their increased sensitivity, signal amplification, ease of use, the potential for automation and integration with miniaturized analytical systems, low cost, and relative simplicity for mass production, electrochemical enzyme-linked immunosorbent assay (ELISA)-based immunoassays for the detection of cancer biomarkers have recently attracted significant interest. Their innovations have significantly increased the sensitivity needed for the early-stage cancer biomarkers that are present in low concentrations in physiological fluids. Thus, driving segmental growth during the forecast period.

Based on cancer type, global cancer/tumor profiling is categorized into breast cancer, lung cancer, colorectal cancer, prostate cancer, melanoma cancer, and others. The lung and breast cancer segment is expected to dominate the market over the forecast period. Smoking and rising pollution levels in diverse densely populated regions have led to genetic changes that can lead to lung or breast cancer.

According to the WHO, incidences of lung and breast cancer increased by 23.1% in 2020, while total fatalities increased by 24.9%, with lung cancer accounting for the highest share at 18.0%. Besides, the prostate cancer segment is expected to grow at the highest CAGR during the forecast period. The growth in the segment is attributed to the increasing prevalence of these cancers across the globe. For instance, according to the American Cancer Society, Prostate cancer is the second leading cause of cancer death in American men, behind only lung cancer. About 1 man in 41 will die of prostate cancer.

Recent Developments:

• In January 2022, NeoGenomics, Inc., a leading provider of global oncology contract research services and cancer-focused genetic testing services, announced a strategic partnership with the Biomarker Collaborative to make it easier for cancer patients who test positive for particular biomarkers to get in touch with support groups that also have members who have the same results.
• In June 2022, Avesthagen Limited entered into a four-year strategic alliance with Wipro Limited to commercialize its genetic testing portfolio. The portfolio includes genome panels offering highly specific, disease-centric analysis for conditions including cancers, neurodegenerative diseases, autoimmune disorders, and rare disease conditions.

Global Cancer/Tumor Profiling Market Report Scope:

Cancer/Tumor Profiling Market: Regional Analysis

North America is expected to dominate the market during the forecast period

North America is expected to dominate the global cancer/tumor profiling market during the forecast period owing to the growing prevalence of chronic disease. For instance, an estimated 1.9 million new incidences of cancer are expected to be diagnosed in the United States in 2021, which would considerably drive the market, according to Cancer Statistics 2021, which was published in the American Cancer Society Journal. Moreover, According to Globocan 2020, there were 274,364 new cancer cases in the nation in 2020, and 400,564 cases are anticipated by 2040.

The most common cancer in women was breast cancer, and the most common cancer in males was prostate cancer. Furthermore, the well-established healthcare infrastructure, rising government support, and the new product launches by the market players are other factors that drive the market growth during the forecast period. For instance, in October 2021, Roche launched a new genomic profiling kit that lets cancer researchers explore tumors without having to send tissue samples to centralized laboratories Roche (ROG.S) is launching a new genomic profiling kit that lets cancer researchers explore tumors without having to send tissue samples to centralized laboratories. In addition, the United States Preventive Services Task Force (USPSTF) released a draft on colorectal cancer screening guidelines, recommending that screening begins at the age of 45, including Exact Sciences Cologuard (referred to in the draft guidelines as sDNA-FIT) as a recommended screening method for all average-risk patients between the ages of 45 and 75. Thus, the aforementioned facts drive the market growth during the forecast period.

Besides, the Asia Pacific region is growing at the highest CAGR during the forecast period. The growth in the region is attributed to the high cancer incidence, developing proteomics & genomics research, rising research funding, and increased investments by pharma & biotech firms. For instance, according to Janssen Asia Pacific, a division of Johnson & Johnson Pte. Ltd., Each year, half of all cancer cases in the globe are diagnosed in Asia Pacific, and by 2030, there will be an expected 36% increase in cancer-related mortality in Asia.

The incidence of liver and stomach cancers is highest in the Asia-Pacific region, and prostate cancer is becoming one of the most common diseases in men there. While blood cancer is still uncommon in Asia, the region nevertheless suffers from a dearth of effective treatment options.

Cancer/Tumor Profiling Market: Competitive Analysis

The global cancer/tumor profiling market is dominated by players like:

• QIAGEN
• Illumina Inc.
• NeoGenomics Laboratories Inc.
• Genomic Health Inc.
• HTG Molecular Diagnostics Inc.
• Caris Life Sciences
• Helomics Corporation
• NanoString Technologies Inc.
• Sysmex Corporation
• Ribomed Biotechnologies Inc.
• Guardant Health Inc.
• Foundation Medicine
• Roche Diagnostics
• GenScript Biotech Corporation
• Tempus Labs
• Boreal Genomics Inc
• Perthera
• Agendia
• Omniseq
• Histogene X

Global cancer/tumor profiling market is segmented as follows:

By Technology

• Immunoassays
• Next-Generation Sequencing
• Polymerase Chain Reaction
• Mass Spectrometry
• In-Situ Hybridization
• Microarrays
• Others

By Cancer Type

• Breast Cancer
• Lung Cancer
• Colorectal Cancer
• Prostate Cancer
• Melanoma Cancer
• Others

By Biomarker Type

• Genomic Biomarker
• Protein Biomarker
• Others

By Application

• Research
• Clinical

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa