Global Cancer/Tumor Profiling Market To Grow At A CAGR Of 11.5% By 2030

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.

Cancer/tumor profiling commonly referred to as "biomarker testing," is a laboratory test or method used to find particular proteins, genes, or gene mutations (changes) in a tumor tissue sample. It helps oncologists determine whether the tumor's pathways match those of the available targeted medicines. Based on an individual's illness severity and genomic make-up, it also helps with routine diagnostics, therapeutic decision-making, and the creation of tailored treatment plans and therapies. Cancer/tumor profiling has a wide range of uses in research, personalizing medicine, finding biomarkers, and creating screening & diagnostic methods.

Cancer/tumor profiling is frequently utilized in oncology research and biomarker discovery throughout the design, discovery, and development of new drugs. As a result, the high prevalence of cancer around the world serves as the main driver of global cancer/tumor profiling market expansion. In addition, the public's evolving preferences toward customized therapy and the increased focus on biomarkers for tumor profiling and diagnostics are boosting product demand.

Additionally, there has been a notable increase in government funding and support for cancer research to create cutting-edge methods that will shorten the time it takes to detect and identify cancers. Along with this, the acceptance of cancer/tumor profiling is growing due to recent developments in molecular biology techniques like next-generation sequencing (NGS). Additionally, the market expansion is being fueled by pharmaceutical and biotechnology companies' growing investments in research and development (R&D) operations for the introduction of novel medicines and new drug-developing approaches.

Other aspects that are fostering an optimistic outlook for the market include the increase in clinical trials, the expansion of immunoassay techniques, advantageous reimbursement policies, bettering healthcare infrastructure, and technical breakthroughs. However, the high cost associated with the research and development proficiencies, limited infrastructural facilities, and technical issues in sample collection & storage is expected to obstruct market growth.

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

The market is classified into immunoassays, next-generation sequencing, polymerase chain reaction, mass spectrometry, in-situ hybridization, microarrays, and others based on technology. The next-generation sequencing segment is expected to grow at the highest CAGR during the forecast period. The segment growth is attributed to the advantages of efficiently investigating genetic modifications in a wide range of malignancies, as well as the identification of various differentially expressed genes and genetic/epigenetic variants as possible targets to aid in the development of new biomarkers for early disease detection.

The global cancer/tumor profiling market, based on biomarker, is classified into genomic, protein, and other biomarkers. The genomic biomarkers segment held the highest share of cancer/tumor profiling market in 2021. The high use of these biomarkers during cancer diagnosis and prognosis, as well as in the biomarker development process, accounts for a large share of this segment.

Regionally, North America is expected to account for the largest revenue share of the global cancer/tumor profiling market because of the existence of big competitors and quick technological advancements. Furthermore, the growing prevalence of cancer and enhanced oncology research to find and discover novel treatment options will assist market growth. Another key element contributing to the regional market's substantial share is rapid adoption of sophisticated technology by enterprises manufacturing these diagnostics kits. Besides, Asia Pacific is a lucrative region that is predicted to grow significantly during the forecast period due to low penetration, the availability of enormous unexplored markets, and a large population pool.

This review is based on a report by Zion Market Research, titled “Global Cancer/Tumor Profiling Market By Technology (Immunoassays, Next-Generation Sequencing, Polymerase Chain Reaction, Mass Spectrometry, In-Situ Hybridization, Microarrays, and Others), By Cancer Type (Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Melanoma Cancer, and Others), By Biomarker Type (Genomic Biomarker, Protein Biomarker, and Others), By Application (Research and Clinical) and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2030.”- Report at https://www.zionmarketresearch.com/report/cancer-tumor-profiling-market

Recent Development:

• In May 2019, NeoGenomics Laboratories collaborated with QIAGEN to offer a companion diagnostic test for HR+/HER2 for advanced breast cancer patients to detect PIK3CA mutation using QIAGEN’s therascreen PIK3CA RGQ PCR test.
• In May 2019, QIAGEN, launched the therascreen PIK3CA RGQ PCR Kit after it received (USFDA) regulatory approval as a companion diagnostic to aid in identifying breast cancer patients.

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

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