Cancer profiling is an approach for more correctly classifying cancers and predicting a patient's clinical outcomes. Cancer/tumor profiling aids in the discovery of genetic alterations, which assists in the selection of appropriate cancer therapy. This technique eliminates the need for trial-and-error in cancer diagnosis at various stages and provides more precise and reliable information regarding cancer clinical outcomes.
Different procedures are used to diagnose cancer, including blood and urine tests, biopsy, imaging tests (X-ray, MRI, PET/CT, and ultrasound), nuclear medicine scans, and lumber puncture, which are unable to pinpoint the exact cause of cancer in the early stages. Overtreatment of cancer patients may result as a result of this. To provide better, customized treatment to the cancer patient, laboratory tests are performed to detect specific genes or gene mutations, proteins, or other biomarkers in a sample of tumor tissue.
COVID-19 Impact analysis
- The COVID-19 pandemic is not predicted to have a substantial impact on cancer/tumor profiling market. There has been a considerable decline in cancer testing and detection due to COVID-19 related measures. However, because several of the COVID-19 patients had cancer, cancer has been recognized as a risk factor for COVID-19. Further study is being conducted in this area to better understand the dynamics of infection, which is likely to advance the cancer research field.
- On the other hand, researchers expect the majority of cancer diagnostic and prognostic tests, as well as tailored therapy, will rise at a steady rate over the forecasted years. Surgery, radiation therapy, and chemotherapy rounds have all been postponed significantly. As a result, by the first quarter of 2021, cancer surgery, radiation therapy, and chemotherapy sessions should have reached 2019 levels.
Top Impacting Factors
Rise in the incidence of cancer, population growth, and aging, as well as the changes in prevalence of certain causes of cancer linked to social and economic development, are the factors propelling cancer/tumor profiling market.
In addition, increased demand for personalized medicine and next-generation sequencing (NGS) technology is also expected to boost the growth of the Cancer Profiling and Pathways market.
Moreover, government funding for continuing research in tumor or cancer diagnostics and profiling is another major factor driving the growth of the market.
The rise in the adoption of cancer profiling methods by oncologists as well as an increase in the use of biomarkers in cancer profiling is projected to surge the Cancer Profiling and Pathways market growth.
An increase in the demand for next-generation sequencing techniques in cancer profiling is expected to boost the Cancer Profiling and Pathways market growth.
However, the large gap between the biomarker discovery stage and their clinical conversion is being hindered by challenges in conversion procedures.
Market Trends
New product launches to flourish the market
- In 2020, Illumina’s COVID response: Illumina partnered with IDbyDNA Partner to deliver NGS Infectious Disease solutions. The partnership aims to accelerate NGS’ adoption of clinical infectious disease testing. This partnership also aims to make next-generation software with powerful bioinformatics software that can turn data into actionable insights.
- In January 2021, Illumina announced an oncology collaboration with Kura Oncology, Bristol Myers Squibb, Merck and Myriad Genetics to boost genomic profiling. The collaboration will help them develop standardized and distributable tools for precision oncology.
- In May 2019, NeoGenomics Laboratories collaborated with QIAGEN to offer companion diagnostic test for HR+/HER2 for advanced breast cancer patients to detect PIK3CA mutation using QIAGEN’s therascreen PIK3CA RGQ PCR test.
Key Benefits of the Report
- This study presents the analytical depiction of the Cancer Profiling and Pathways along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Cancer Profiling and Pathways market share.
- The current market is quantitatively analyzed to highlight the Cancer Profiling and Pathways market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Cancer Profiling and Pathways Report
- Who are the leading market players active in the Cancer Profiling and Pathways market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is "Cancer Profiling and Pathways"?
- What is "Cancer Profiling and Pathways" Market prediction in the future?
- Who are the leading global players in the "Cancer Profiling and Pathways" Market?
- What are the current trends and predicted trends?
- What are the key benefits of the "Cancer Profiling and Pathways" Market report?
Cancer Profiling and Pathways Market Report Highlights
| Aspects | Details |
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 By End User |
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 Key Market Players | Qiagen N.V., GenomeDX, Neogenomics Inc., Illumina Inc, Ribomed Biotechnologies Inc., Nanostring Technologies, Oxford Gene Technology, Guardant Health, Genomic Health, Foundation Medicine. |
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