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Cancer Profiling Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
— The Business research company
LONDON, GREATER LONDON, UNITED KINGDOM, September 29, 2024 /EINPresswire.com/ — The cancer profiling market has experienced robust growth in recent years, expanding from $11.93 billion in 2023 to $13.4 billion in 2024 at a compound annual growth rate (CAGR) of 12.3%. The growth in the historic period can be attributed to increasing cancer incidence rates, rise in precision medicine approaches, clinical adoption of biomarkers, drug development and targeted therapies, awareness, and patient advocacy.
What Is The Estimated Market Size Of The Global Cancer Profiling Market And Its Annual Growth Rate?
The cancer profiling market is projected to continue its strong growth, reaching $20.35 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%. The growth in the forecast period can be attributed to integration of artificial intelligence, global collaborations in research, expansion of liquid biopsy applications, regulatory support for precision medicine, increasing emphasis on early detection.
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Growth Driver Of The Cancer Profiling Market
The increasing incidence of cancer is expected to propel the growth of the cancer profiling market going forward. Incidence of cancer refers to the number of new cancer cases in a specific population for a given period. The increased incidence of cancer caused due to urbanization, a growing aging population, changing lifestyles, and environmental and genetic factors. Cancer profiling aids in the identification of specific molecular or genetic changes in a tumor, such as gene mutations or other changes in tumor DNA, which is helpful in the cancer treatment cycle.
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Which Market Players Are Driving the Cancer Profiling Market Growth?
Key players in the market include Illumina Inc., Qiagen NV, NeoGenomics Inc., Sysmex Corporation, HTG Molecular Diagnostics Inc., Caris Life Sciences, NanoString Technologies Inc., Guardant Health Inc., Foundation Medicine Inc., Roche Diagnostics Corporation, F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Genscript Biotech Corporation, Tempus Labs Inc., Hologic Inc., Predictive Oncology Inc., Abbott Laboratories, Agilent Technologies Inc., PerkinElmer Inc., Siemens Healthineers, Genomic Health Inc., Natera Inc., ArcherDX Inc., Personal Genome Diagnostics Inc., Enzo Biochem Inc., Cancer Genetics Inc., OncoDNA SA, Ribomed Biotechnologies Inc., Biocartis Group NV, N-of-One Inc., Cynvenio Biosystems Inc., Inivata Ltd., Burning Rock Biotech Limited, PathAI Inc., GENEWIZ Inc., Genoptix Inc., Oncomine Dx Target Test, OmniSeq Comprehensive, Resolution Bioscience, OncoCyte Corporation
What Are the Emerging Trends Shaping the Cancer Profiling Market Overview?
Major companies operating in the cancer profiling market are focused on developing innovative kits such as in-vitro diagnostic test kits for advanced NSCLC treatment optimization. In-vitro diagnostic test kits are medical devices designed for the examination of specimens, such as blood or tissue, outside the living organism (in vitro) to provide information about a person’s health condition
How Is The Global Cancer Profiling Market Segmented?
1) By Technology: Immunoassays, PCR (Polymerized Chain Reaction), NGS (Next-Generation Sequencing), Microarrays, In-Situ Hybridization
2) By Biomarker Type: Genomic Biomarkers, Protein Biomarkers
3) By Cancer Type: Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Melanoma Cancer, Other Cancers
4) By Application: Research Applications, Clinical Applications, Screening, Diagnostics, Prognostics, Other Applications
Geographical Insights: North America Leading The Cancer Profiling Market
North America was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Cancer Profiling Market Definition
Cancer profiling refers to a diagnostic procedure that is conducted to analyze the genetic information of tumor cells in the body. It provides information about certain molecular or genetic changes in a tumor, such as gene mutations or other changes in tumor DNA.
Cancer Profiling Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global cancer profiling market report covering trends, opportunities, strategies, and more
The Cancer Profiling Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on cancer profiling market size, cancer profiling market drivers and trends and cancer profiling market growth across geographies. This market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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The Business Research Company
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