Cancer and Tumor profiling Market Size to Reach USD 18.13 Billion in 2028, Says Reports and Data

Rising number of cancer cases worldwide and increasing spending by governments of various countries globally on cancer research & development are factors driving market revenue growth

The global cancer/tumor profiling market size is expected to reach USD 18.13 Billion in 2028 and register a revenue CAGR of 10.3% over the forecast period, according to latest report by Reports and Data. Rapid market revenue growth can be attributed to benefits of cancer/tumor profiling in cancer treatment. Cancer/tumor profiling facilitates early treatment of patients and discovery of targeted medicine. It also helps in lowering mortality rates and in collecting more data on different types of cancer at various stages.

Cancer/tumor profiling enables doctors to confirm presence of cancer from various proteins, biomarkers, or gene mutations within tissues. This method helps in predicting recurrences of cancer and its spread within the body. Profiling helps oncologists plan treatment in the most effective way to cure this disease.

Growing investments by private players on new technologies and government spending on healthcare are increasing demand for cancer/tumor profiling. Cancer/tumor profiling is one of the most effective tools in diagnosing cancer at early stages. It can help in collecting information about specific genes and biomarkers that are highly responsible for mutation. As cancer is an inheritable disease, upcoming generations can be protected from it with the help of cancer/tumor profiling.

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Some Key Highlights from the Report

  • By cancer type, lung cancer segment revenue is expected to grow at a faster rate over the forecast period. Increasing cases of lung cancer have been observed across the globe. Cancer/tumor profiling for lung cancer is of utmost importance as a decent number of biomarkers have been recognized, and so this cancer can be treated with targeted medicine.
  • Biomarkers are those biological molecules that are used to detect presence of any abnormality in cells in the human body. It is generally found in blood, other body fluids, or tissues. Cancer/tumor profiling technologies help in identifying these biomarkers at the earliest and thereby helps in reducing mortality rates.
  • By technology, next-generation sequencing (NGS) segment accounted for largest revenue share in 2020. This technology is known for its ultra-high output, scalability, and speed. A deep study of genetically mutated regions and rapid sequencing of whole genomes are key functionalities of NGS in cancer/tumor profiling.
  • The cancer/tumor profiling market in North America accounted for largest revenue share in 2020, due to growing initiatives by governments to promote innovation in the oncology field and rising cases of metastatic cancer in the region. Additionally, presence of various major players such as Illumina Inc. and Thermo Fisher Scientific Inc. in the region is boosting revenue growth of the market in this region.
  • In November 2021, Thermo Fisher Scientific Inc. received approval from FDA for the device named QuantStudio-7 Pro Dx Real-Time PCR System as a class II medical device. This device is known for fast ramp-up with no specialized training and various other in-built technologies to support productivity.
  • Companies profiled in the global market report include Thermo Fisher Scientific Inc., Illumina Inc., Siemens AG, F.Hoffmann La Roche Ltd, Nanostring Technologies Inc., BioGenex, Neogenomics Laboratories Inc., HTG Molecular Diagnostics Inc., Perkin Elmer Inc, CellCarta Inc, Ribomed Biotechnologies Inc, Perthera, Qiagen N.V., and Personalis Inc.

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For this report, Reports and Data has segmented the global cancer/tumor profiling market on the basis of cancer type, technology, biomarker type, process type, application, and region:

 Cancer Type Outlook (Revenue, USD Billion; 2018–2028)

  • Lung Cancer
  • Breast Cancer
  • Colorectal Cancer
  • Prostate Cancer
  • Melanoma
  • Ovarian Cancer
  • Stomach Cancer
  • Pancreatic Cancer
  • Thyroid Cancer
  • Sarcoid
  • Other

Technology Outlook (Revenue, USD Billion; 2018–2028)

  • Immunohistochemistry(IHC)
  • Fluorescence in situ Hybridization (FISH)
  • Next-Generation Sequencing (NGS)
  • Quantitative Polymerase Chain Reaction (qPCR)
  • Chromogenic in Situ Hybridization (CISH)
  • Microarray
  • Others

Biomarker Type Outlook (Revenue, USD Billion; 2018–2028)

  • Genetic
  • Protein
  • Others

Process Type Outlook (Revenue, USD Billion; 2018–2028)

  • Genomics
  • Proteomics
  • Epigenetics
  • Metabolomics
  • Others

Application Outlook (Revenue, USD Billion; 2018–2028)

  • Research
  • Clinical
  • Machine learning

Regional Outlook (Revenue, USD Billion; 2018–2028)

  • North America
    • US.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Benelux
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of Middle East & Africa

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Regional Outlook:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • Italy
    • France
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • U.A.E.
    • South Africa
    • Rest of MEA

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Some points on how the report benefits stakeholders:

  • The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
  • Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
  • The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
  • The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
  • Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
  • The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.

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