The Cancer Tumor Profiling Market study will provide readers, stakeholders, and companies with comprehensive information on market size, revenue growth, and general market dynamics in order to assist them in strengthening their positions in the global Cancer Tumor Profiling market. Also, it provides thorough information on significant factors, constraints, issues, and market divisions depending on factors like product category, application, and regional bifurcation.
The cancer tumor profiling market is expected to reach USD 31.99 billion by 2027, according to a new report by Emergen Research. This market's growth is attributed to the increasing use of biomarkers in cancer profiling and eventually the rising adoption of proteomic methods for biomarker research, thus helping to increase the drug development process over the estimated period. The growing demand for personalized medicine and the rise in cancer incidence across the globe are augmenting the demand for the industry. According to the World Health Organization (WHO), lung and breast cancer are common types of cancer, with around 2.09 million cases every year. The growing demand for cancer tumor profiling is driving the market for the estimated period.
Cancer tumor profiling has emerged as a groundbreaking technique in the field of precision medicine. It involves the comprehensive analysis of genetic, epigenetic, and proteomic alterations within a tumor, providing crucial insights into its biology and enabling personalized treatment strategies. The cancer tumor profiling market has experienced significant growth in recent years, driven by advancements in genomic technologies, increasing cancer prevalence, and the need for targeted therapies. This article delves into the key aspects of the cancer tumor profiling market and its potential to revolutionize cancer care.
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Competitive Terrain:
The global Cancer Tumor Profiling industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
Leading Market Players Profiled in the Report:
Caris Life Sciences, Foundation Medicine, GenomeDX, Genomic Health, Guardant Health, Helomics Corporation, HTG Molecular Diagnostics, Inc., Nanostring Technologies, Neogenomics Inc., Oxford Gene Technology, Qiagen N.V., Ribomed Biotechnologies.
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Some Key Highlights from the Report
- The Genomics segment was valued at 2.76 Billion in 2019, owing to the rise in the research institutes' funding for developing modified medicine is expected to increase the demand for the genomics industry. The use of genomics technology by various companies for cancer tumor profiling is anticipated to increase the overall genomics industry's demand for the upcoming forecast period.
- Asia Pacific countries such as China, India, and Japan, have seen a striking increase in cancer tumor profiling. Developing economies, including India, Singapore, and Korea, are anticipated to intensify global demand.
- High investments by companies to launch new products for cancer tumor profiling with various advancement in the new technique is augmented to propel the market. For instance, in May 2019, QIAGEN, launched therascreen PIK3CA RGQ PCR Kit as a companion diagnostic to aid in identifying breast cancer patients.
- Immunoassays segments are seen to have the largest market share in 2019. The Immunoassays technology is used to detect tumors with applications in Oncological Diagnostics, Prognostics, Monitoring and Treatment, and Screening.
- In 2019, the Research Application segment was valued at USD 5.67 Billion owing to the rise in the research and development, increasing demand for personalized medicine. The use of cancer tumor profiling helps to decide whether the patients require a diagnostic test. Furthermore, advancement in molecular biology is one of the factors to boost market growth.
- The North America regional section held the most extensive share in the Cancer tumor profiling industry, with 37.2% in 2019. The industry is dominated in this region due to substantial growth in clinical and research applications and key players in the region.
Key market aspects studied in the report:
Market Scope: The report explains the scope of various commercial possibilities in the global Cancer Tumor Profiling market over the upcoming years. The estimated revenue build-up over the forecast years has been included in the report. The report analyzes the key market segments and sub-segments and provides deep insights into the market to assist readers with the formulation of lucrative strategies for business expansion.
Competitive Outlook: The leading companies operating in the Cancer Tumor Profiling market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.
Report Objective: The primary objective of this report is to provide the manufacturers, distributors, suppliers, and buyers engaged in this sector with access to a deeper and improved understanding of the global Cancer Tumor Profiling market.
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Market Overview:
The report bifurcates the Cancer Tumor Profiling market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
- Technique Type Outlook (Revenue, USD Billion; 2017-2027)
- Genomics
- Epigenetics
- Metabolomics
- Proteomics
- Technology Outlook (Revenue, USD Billion; 2017-2027)
- Immunoassays
- In Situ Hybridization
- Fluorescence In Situ Hybridization (FISH)
- Chromogenic In Situ Hybridization (CISH)
- Microarray
- Polymerase Chain Reaction (PCR)
- Sequencing Technologies
- Next Generation Sequencing(NGS)
- Pyro Sequencing
- Sanger Sequencing
- Other Technologies
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Research Application
- Biomarker Discovery
- Personalized Cancer Medicine
- Clinical Application
- Oncological Diagnostics
- Prognostics
- Monitoring and Treatment
- Screening
Regional Outlook:
- North America (the U.S., Canada, Mexico)
- Europe (the U.K., Germany, France, Italy)
- Asia Pacific (India, China, Japan, Korea)
- Latin America (Brazil, Argentina, Ecuador, Chile)
- Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran)
Key reasons to buy the Global Cancer Tumor Profiling Market report:
- The latest report comprehensively studies the global Cancer Tumor Profiling market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
- The report offers an insightful analysis of the regional outlook of the market.
- It offers a detailed account of the end-use applications of the products services offered by this industry.
- The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
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