Global Cancer Profiling Market Report 2022: Growing Demand for Personalised Medicine and Point-Of-Care Diagnostics to Reshape Sector - ResearchAndMarkets.com

The "Global Cancer Profiling Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.

The global cancer profiling market is expected to grow at a compound annual growth rate of 15.67% over the forecast period to reach a market size of US$49.176 billion in 2027 from US$17.750 billion in 2020.

The major growth factors for this market are the rising global prevalence of cancer and the increasing use of biomarkers in tumour profiling. Increased cancer research and funding initiatives, as well as technical developments in profiling technologies, are also driving the growth of the cancer profiling market. Furthermore, the growing demand for personalised medicine and point-of-care diagnostics is projected to provide substantial potential possibilities for market participants throughout the forecast period.

On the other hand, high capital investment, high procedure costs, and concerns regarding technical difficulties with sample collection and storage are likely to hinder the expansion of the cancer tumour profiling market. Poor regulatory standards and reimbursement options, as well as a low discovery-to-approval ratio, are expected to provide challenges to the cancer profiling market.

The global cancer profiling market is expected to be dominated by the North American region. The number of cancer patients in the United States has increased significantly. According to the American Cancer Society, there will be an estimated 1,898,160 new cancer cases and 608,570 cancer deaths in the United States in 2021, which is approximately 5,200 new cases and 1,670 deaths per day. Breast cancer, lung and bronchus cancer, prostate cancer, colorectum cancer, urinary bladder cancer, and skin cancer are the most prevalent cancers in the United States. Breast cancer is predicted to be the most frequent type of cancer, with 284,200 cases, while lung and bronchus cancer are expected to be the leading causes of death, with 131,880 fatalities in 2021.

The flexibility of US government regulations and the availability of funds from various organisations, such as the National Institute of Health, has allowed researchers to invest more in the use of biomarkers in drug discovery, drug development, tumour detection, monitoring biological response to cancer therapy, and genetic studies for the identification of cancer-predisposed candidates.

Growth Factors

The rising global prevalence of cancer:

According to the World Health Organization (WHO), cancer is a leading cause of death globally, accounting for nearly 10 million deaths in 2020. Between 30 and 50% of cancers can currently be prevented, and the cancer burden can also be reduced through early detection of cancer and appropriate treatment and care of patients who develop cancer. Many cancers have a high chance of being cured if detected early and treated properly. Therefore, the rising global prevalence of cancer will increase the demand for cancer profiling.

Restraints:

Technical issues

One of the most immediate concerns regarding service providers is sample collection, which is followed by access to these samples. These samples must be subjected to strict quality control, and they must be maintained in the proper conditions to avoid loss. Furthermore, screening programmes are helpful for certain types of cancer but not others and they are considerably more difficult and resource-intensive than early detection since they require specialised equipment and committed staff.

Market Segmentation

By Technology

• Immunohistochemistry
• In situ Hybridization
• Next-Generation Sequencing
• Quantitative Polymerase Chain Reaction (qPCR)
• Mass Spectrometry
• Microarrays
• Others

By Cancer Type

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

By Application

• Personalized Medicine
• Oncological Diagnostics
• Cancer Research
• Biomarker Discovery
• Treatment & Monitoring
• Others

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• France
• UK
• Italy
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• South Africa
• Others
• Asia Pacific
• China
• India
• Japan
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others

Key Topics Covered:

1. Introduction

2. Research Methodology

3. Executive Summary

4. Market Dynamics

5. Global Cancer Profiling Market Analysis, by Technology

6. Global Cancer Profiling Market Analysis, by Cancer Type

7. Global Cancer Profiling Market Analysis, by Application

8. Global Cancer Profiling Market Analysis, by Geography

9. Competitive Environment and Analysis

10. Company Profiles

Companies Mentioned

• Illumina, Inc.
• Qiagen N.V.
• NeoGenomics Laboratories, Inc.
• F. Hoffmann-La Roche Ltd
• Genomic Health
• GE Healthcare
• Siemens Healthineers
• Thermo Fisher Scientific Inc.
• Hologic Inc.
• Bio-Rad Laboratories Inc.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20221020005850/en/