Global Cancer/Tumor Profiling Market is expected to grow at a CAGR of 18.4% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Cancer/Tumor Profiling Market by Technology (Microarray, In Situ Hybridization, Immunohistochemistry, Polymerase Chain Reaction, Next-generation Sequencing), Technique (Epigenetics, Metabolomics, Proteomics, Genomics), Application (Treatment & Monitoring, Screening, Prognostics, Diagnostics, Research, Oncological Diagnostics, Personalized Medicine), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027.
The global cancer/tumor profiling market is expected to grow from USD 42.02 billion in 2019 to USD 162.29 billion by 2027, at a CAGR of 18.4% during the forecast period 2020-2027. North-America has the largest share of cancer/tumor profiling market due to an increased research and development in this region. A rise in the prevalence of cancer is driving the market in North-America. Also, Technological advancements in cancer/tumor profiling market is driving the market in the region.
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Key players in the global cancer/tumor profiling market are Qiagen N.V., HTG Molecular Diagnostics, Helomics Corporation, Nanostring Technologies, GenomeDX, Foundation Medicine, Illumina Inc., Neogenomics Inc., Caris Life Sciences, Nanostring Technologies, Ribomed Biotechnologies Inc., Oxford Gene Technology and Guardant Health. These companies are trying to acquire a significant share by focusing on patented technique development and automation instruments for cancer/tumor profiling. Increased research and technological advancements are expected to drive companies to offer products at economical prices in order to capture the most significant market share. Competition in the cancer/tumor profiling market is high due to the presence of many big and small companies.
The technology segment includes microarray, in situ hybridization, immunohistochemistry, polymerase chain reaction and next-generation sequencing. Advanced level next-generation sequencing is highly used in precise genomic sequencing. It helps in the identification of the extent of disease advancement and tumor purity. It also enables exome sequencing, which is used in protein-coding regions.
The technique segment includes epigenetics, metabolomics, proteomics and genomics. Genomics plays an essential role in the detection of these genetic variations. These genomic platforms are beneficial as they improve screening time, decreases the cost. It also helps to identify a larger size of the evaluated genome. These factors are likely to drive a genomics technique for tumor profiling.
The application segment includes treatment & monitoring, screening, prognostics, diagnostics, research, oncological diagnostics and personalized medicine. Tumor profiling is used in discovery of biomarkers and oncology research, in the process of drug development, exploration and design. Individualized targeted therapies and rise in profiling technologies are playing an important role in driving the market.
Cancer/tumor profiling uses a personalized, focused approach which is used to target a patient’s tumor. Cancer/tumor profiling is beneficial in understanding the biology of cancer, including identification of tumor suppressors and novel oncogenes, identifying pathways which drive the growth of cancers and biological heterogeneity of specific cancer types. Cancer/tumor profiling is carried out in order to evaluate proteins, gene mutations and biomarkers in tumor tissue. It is mainly used in the planning process of treatment. Profiling also predicts the possibility of occurrences of cancer/tumor and its spread to other body parts. The global cancer/tumor profiling market is driven by increased adoption of biomarkers as well as increased incidence of cancer which results in an increased demand for next-generation sequencing technique. Also, technological advancements and investments in research and development is driving the cancer/tumor profiling market.
About the report:
The global cancer/tumor profiling market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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