Loading...
Cart
0

Cancer/Tumor Profiling Market Expected to Reach $82,447 Million by 2023

 
 

quote The demand for cancer profiling methods has witnessed significant growth over the years with seamlessly integrating next-generation sequencing (NGS) and in-situ hybridization for cancer profiling. In addition, cancer profiling for the detection of molecular & genetic level of cancers, and use of personalized and targeted approaches for treatment have propelled the market growth. quote

Sriram Radhakrishnan
Team Lead, Healthcare at AMR

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a new report published by Allied Market Research, titled, Cancer/Tumor Profiling Market by Technology, Technique, and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global cancer/tumor profiling market was valued at $25,318 million in 2016, and is projected to reach $82,447 million by 2023, growing at a CAGR of 18.4% from 2017 to 2023. The next-generation sequencing (NGS) segment accounted for one-fourth share of the global market in 2016.

Access Full Summary at: https://www.alliedmarketresearch.com/cancer-tumor-profiling-market

Cancer/tumor profiling assists in individualizing cancer treatment by providing useful information at the molecular or genetic level. This helps medical practitioners to design an appropriate treatment for patients suffering from cancer. This technique assists in studying an individuals cancer cells and in analyzing the genetic characteristics and unique biomarkers. The information obtained post cancer profiling is used to identify and create targeted therapies that are designed to work better for a specific cancer tumor profile.

The advent of tumor/cancer profiling has assisted in overcoming the limitation of traditional cancer diagnostic methods as well as setting up a gold standard for tumor classification. The targeted approach especially using NGS technology delivers high sensitivity to detect tumor subclone and rare mutations by detecting the mutation-causing agent in cancer. This has ultimately fueled the adoption of cancer profiling methods among oncologists. In addition, rapid rise in burden of cancer and increase in funding from government for devising cancer diagnosing methods augment the market growth. However, high monetary investments for the development of biomarkers and dearth of skilled oncologists & related professionals restrain the market growth. Moreover, untapped markets, such as China and India, offer lucrative opportunities for the market growth due to rise in demand for better diagnosis and treatment of various types of cancer.

The fluorescence in situ hybridization (FISH) segment generated the highest revenue in 2016, and is anticipated to dominate the market throughout the forecast period. This attributed to increase in demand for FISH in cancer profiling, as this technology helps in identifying the predictive or prognostically important genetic variants in cancer, and is successfully used for the prediction prognosis of breast cancer.

The metabolomics segment is expected to witness the highest growth rate in the global market registering a CAGR of 20.2% from 2017 to 2023, owing to the recent advances in metabolomics technologies that have deeper insights about the metabolism of cancer. Moreover, determining the abundance of all the metabolites in a cancer cells is possible through metabolomics profiling techniques.

The personalized medicine segment accounted for one-fourth share of the global market in 2016, and is expected to register the highest CAGR of 19.1% throughout the forecast period. This is attributed to increased focus of oncologists towards personalized cancer care, thereby ensuring better treatment methods with fewer side effects. Furthermore, personalized medicines offer better understanding of genetic differences in patients to govern the susceptibility to a particular cancer or response to a specific treatment. This aids in providing targeted therapy, thereby decreasing the overall cost of treatment with minimal side effects to patients.

Key Findings of the Cancer/tumor Profiling Market:

  • The genomics segment dominated the global cancer/tumor profiling market accounting for two-fifths share of the global market in 2016.
  • The biomarker discovery segment is the largest application of global market in 2016, and is expected to grow at a CAGR of 17.4% during the forecast period.
  • U.S. dominated the North America cancer/tumor profiling market, accounting for the maximum share of the global market in 2016.
  • Asia-Pacific is exhibited to grow at a significant CAGR of 19.3% during the forecast period.
  • India was the fastest growing country in the Asia-Pacific cancer/tumor profiling market in 2016, registering a CAGR of 20.8%, and is anticipated to continue this trend during the forecast period.
  • The in-situ hybridization segment is expected to grow at the highest rate, registering a CAGR of 19.8% from 2017to 2023.

Asia-Pacific witnessed the highest growth rate in the global market from 2017-2023. This is attributed to rise in awareness related to cancer profiling technologies and increase in investments by the regional market players in the diagnostic laboratories for cancer diagnosis. For instance, in 2011, Metropolis India launched fluorescent in-situ hybridization (FISH) technology to detect genetic abnormalities and diagnose cancer. These factors are expected to boost the market growth in the near future

The key players operating in the global cancer/tumor profiling market have adopted product launch as their key developmental strategy and have focused on launching innovative products to cater to consumer requirements and strengthen their market shares. The major companies profiled in the report include Qiagen N.V., Roche Molecular Systems Inc., Abott Molecular, Illumina Inc., NeoGenomics Laboratories, HTG Molecular Diagnostic, Genomic Health Inc., Hologic Gen-Probe, BD Biosciences, and Siemens Healthineers.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Shaun Godinho
Communications Officer
Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

 
 

First time buyer?
Check offers and discount on this report
To get this report

 
Click Here
 
 

quote Cancer Tumor Profiling Market by Technology [Next-generation Sequencing (NGS), Polymerase Chain Reaction (PCR), Immunohistochemistry (IHC), In Situ Hybridization (ISH), (Fluorescence In Situ Hybridization (FISH) and Chromogenic in Situ Hybridization (CISH)), Microarray, and Others], Technique (Genomics, Proteomics, Epigenetics, and Metabolomics), and Application (Personalized Medicine, Diagnostics, Biomarker Discovery, Prognostics, and Research Applications) - Global Opportunity Analysis and Industry Forecast, 2017-2023 quote

View Report
 
 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

Targeted Market View

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
 

Get Fresh content delivered

Get insights on topics that matter to your business. Stay updated on the area that interests you.

 
Get Industry Data Alerts
 

Buy Full Version
"Cancer/Tumor Profiling Market"
Purchase Enquiry