Global Cancer Profiling Market Insights Forecasts to 2032

• The Global Cancer Profiling Market Size was valued at USD 9.65 Billion in 2022.
• The Market Size is Growing at a CAGR of 9.7% from 2022 to 2032
• The Worldwide Cancer Profiling Market Size is expected to reach USD 24.36 Billion by 2032
• Asia-Pacific is expected to grow higher during the forecast period

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The Global Cancer Profiling Market Size is expected to reach USD 24.36 Billion by 2032, at a CAGR of 9.7% during the forecast period 2022 to 2032.

 

Market Overview

Cancer profiling, also known as molecular profiling, is a comprehensive analysis of a cancer patient's tumor at the molecular level. It involves identifying genetic, epigenetic, proteomic, and metabolic alterations within the cancer cells. This approach helps oncologists understand the unique characteristics of each patient's cancer, enabling personalized treatment strategies. By analyzing the tumor's specific genetic mutations and other molecular features, clinicians can select targeted therapies that are more likely to be effective and reduce unnecessary side effects. Cancer profiling has revolutionized cancer care, providing a tailored and precise approach to treatment, ultimately improving patient outcomes and survival rates.

 

Report Coverage

This research report categorizes the market for cancer profiling market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the cancer profiling market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the cancer profiling market.

 

Driving Factors

The cancer profiling market is driven by several key factors that have fueled its rapid growth and adoption in recent years because the increasing incidence of cancer globally has led to a rising demand for more effective and personalized treatment options. Cancer profiling offers valuable insights into individual tumor biology, enabling clinicians to make informed decisions regarding targeted therapies, thus propelling market expansion. The advancements in genomic technologies have significantly enhanced the ability to analyze tumors at a molecular level. Next-generation sequencing (NGS) and other high-throughput techniques have become more accessible and cost-effective, facilitating widespread adoption of cancer profiling methods. The government and private initiatives supporting precision medicine and oncology research have played a crucial role in driving the market forward. Funding and regulatory support for research and clinical trials have encouraged the integration of cancer profiling into standard cancer care protocols. Moreover, the growing awareness among healthcare professionals and patients about the benefits of personalized medicine has bolstered market growth. Patients and physicians are increasingly seeking tailored treatment options that are more effective and have fewer side effects, leading to a surge in demand for cancer profiling services. Furthermore, pharmaceutical and biotechnology companies are investing heavily in developing targeted therapies based on genomic findings, thus driving the demand for cancer profiling services. These companies are keen to identify patient populations most likely to respond to their novel therapies, enhancing their drug development processes. Overall, the confluence of rising cancer incidence, technological advancements, supportive government initiatives, increasing awareness, and pharmaceutical industry investments has propelled the cancer profiling market to the forefront of modern oncology, offering promising prospects for improved patient outcomes and revolutionizing cancer treatment approaches.

 

Restraining Factors

The cancer profiling market faces several significant restraints that hinder its full potential because the high cost associated with advanced genomic technologies and profiling tests limits their accessibility, particularly in developing regions. The interpretation of complex genomic data requires specialized expertise, leading to a shortage of skilled professionals capable of effectively utilizing these technologies. The concerns regarding data privacy and ethical considerations related to genomic information present challenges in data sharing and collaboration for research purposes. Additionally, the regulatory landscape for cancer profiling is continually evolving, creating uncertainty for market players.

 

Market Segmentation

• Next-generation sequencing segment is expected to grow at the fastest CAGR of around 9.6% during the forecast period

On the basis of the technology, the global cancer profiling market is segmented into immunoassays, next-generation sequencing, polymerase chain reaction, mass spectrometry, in-situ hybridization, microarrays, and others. The next-generation sequencing (NGS) segment is anticipated to experience the fastest growth in the cancer profiling market during the forecast period due to several factors. NGS technology allows for rapid and comprehensive analysis of a patient's genomic profile, enabling the identification of a wide range of genetic alterations and biomarkers associated with cancer. As the cost of NGS continues to decline and its accessibility improves, more healthcare providers and researchers are adopting this advanced sequencing technology.

 

• The breast cancer segment held the largest market over the forecast period

Based on the cancer type, the global cancer profiling market is segmented into breast cancer, lung cancer, colorectal cancer, prostate cancer, melanoma cancer, and others. The breast cancer segment held the largest market share over the forecast period in the cancer profiling market due to breast cancer is one of the most prevalent cancer types globally, affecting a substantial number of patients. There has been a growing emphasis on early detection and personalized treatment for breast cancer, leading to an increased demand for cancer profiling services. Additionally, advancements in genomic research have unveiled various genetic mutations and biomarkers specific to breast cancer, driving the development of targeted therapies.

 

• The genomic biomarker segment held the largest share in cancer profiling market.

Based on the biomarker type, the global cancer profiling market is segmented into genomic biomarker, protein biomarker, and others. The genomic biomarker segment held the largest share in the cancer profiling market due to its crucial role in guiding personalized cancer treatments. Genomic biomarkers provide essential information about genetic mutations and alterations within tumors, allowing clinicians to identify specific therapeutic targets. This targeted approach has gained prominence as it enhances treatment efficacy while minimizing adverse effects. Moreover, advancements in genomic technologies, such as next-generation sequencing, have made genomic biomarker profiling more accessible and cost-effective, further contributing to its dominant position in the market.

 

• In 2022, the biomarker discovery segment accounted for around 57.6% market share

Based on the application, the global cancer profiling market is segmented into research application and clinical application. The biomarker discovery segment is a subsegment of research application, that dominates the cancer profiling market due to its pivotal role in identifying novel biomarkers that can aid in cancer diagnosis, prognosis, and treatment selection. Biomarker discovery involves advanced technologies, such as genomics, proteomics, and metabolomics, to explore unique molecular signatures within cancer cells. These biomarkers offer valuable insights into disease progression and response to therapies, driving their high demand in both research and clinical settings.

 

Regional Segment Analysis of the Cancer Profiling Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

North America dominated the market with more than 43.5% revenue share in 2022.

 

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Based on region, North America's dominance in the cancer profiling market can be attributed to a well-established healthcare infrastructure and a strong emphasis on research and development, enabling the adoption of advanced genomic technologies and cancer profiling techniques. North America is home to numerous prominent pharmaceutical and biotechnology companies that heavily invest in precision medicine and targeted therapies, driving the demand for cancer profiling services. Additionally, supportive government initiatives and funding for oncology research further boost market growth.

 

Asia-Pacific is expected to experience significant growth in the cancer profiling market during the forecast period due to the large and diverse population contributing to a high burden of cancer cases, increasing the demand for personalized and targeted therapies. The improving healthcare infrastructure, rising disposable incomes, and growing awareness about advanced cancer treatments are driving the adoption of cancer profiling technologies in the region. Increasing government initiatives and private investments in oncology research and precision medicine are further propelling market growth.

 

Recent Developments

• In January 2022, NeoGenomics, Inc., a leading provider of cancer-focused genetic testing services and global oncology contract research services, has announced a strategic partnership with the Biomarker Collaborative to assist cancer patients who test positive for specific biomarkers in connecting with support groups that include patients with similar findings.

 

• In May 2022, QIAGEN has introduced the therascreen EGFR Plus RGQ PCR Kit, a novel in-vitro diagnostic test for sensitive EGFR mutation analysis that will help oncologists better advise non-small cell lung cancer (NSCLC) treatment.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global cancer profiling market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Companies:

• Illumina, Inc.
• QIAGEN N.V.
• NeoGenomics, Inc.
• Sysmex Corporation
• HTG Molecular Diagnostics, Inc.
• Predictive Oncology, Inc.
• Caris Life Sciences
• NanoString Technologies, Inc.
• Guardant Health, Inc.
• Foundation Medicine
• F. Hoffmann-La Roche Ltd.
• Thermo Fisher Scientific Inc.
• Genscript Biotech Corporation
• Tempus Labs
• Hologic, Inc.

 

Key Target Audience

• Market Players
• Investors
• End-Users
• Government Authorities 
• Consulting and Research Firm
• Venture Capitalists
• Value-Added Resellers (VARs)

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global cancer profiling market based on the below-mentioned segments:

 

Cancer Profiling Market, By Technology

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

 

Cancer Profiling Market, By Cancer Type

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

 

Cancer Profiling Market, By Biomarker Type

• Genomic Biomarker
• Protein Biomarker
• Others

 

Cancer Profiling Market, By Application

• Research Application
• Clinical Application

 

Cancer Profiling Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa