Cancer Profiling Market
Number of pages: 100 | Report Format: PDF | Published date: 15 March, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market size value in 2022 |
US$ 10.6 billion |
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Revenue forecast in 2031 |
US$ 23.7 billion |
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Growth Rate |
CAGR of 10.54% from 2023 to 2031 |
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Base year for estimation |
2022 |
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Forecast Period |
2023-2031 |
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Historical Year |
2021 |
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Segments covered |
Cancer Type, Technology, Biomarker, Application and Region. |
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Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global cancer profiling market was valued at US$ 10.6 billion in 2023 and is expected to register a revenue CAGR of 10.54% to reach US$ 23.7 billion by 2031.
Market Fundamentals
Cancer profiling refers to the process of analyzing cancer cells to understand their genetic and molecular characteristics. By analyzing cancer cells researchers can gain insights into how cancer develops, how it progresses, and how it responds to different treatments. Cancer profiling can be used to identify genetic mutations that drive the development of cancer, as well as to identify biomarkers that can be used to predict how well a patient will respond to a particular treatment.
There are several different techniques that can be used for cancer profiling, including DNA sequencing, gene expression profiling, proteomics, and metabolomics. These techniques allow researchers to analyze different aspects of cancer cells, including the genes that are mutated or overexpressed, the proteins that are produced, and the active metabolic pathways. Cancer profiling has become increasingly important in recent years as new targeted therapies have been developed that are designed to specifically target the genetic mutations that drive cancer growth. By analyzing cancer cells before treatment, doctors can identify the most effective treatment for each patient, improving the chances of successful outcome.
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Market Dynamics
The global cancer profiling market primarily is driven by the increasing prevalence of cancer. Cancer incidence is strongly linked with changes in lifestyle. Oncologists in developing economies are increasingly using cancer profiling methodologies to identify and treat cancer. According to a World Health Organization (WHO) estimate from 2020, cancer was responsible for 10 million deaths worldwide.
Additionally, cancer profiling involves analyzing a patient's genetic makeup to determine the most effective treatment plan, and it has become an essential tool to fight against cancer. As more patients seek personalized medicine, the demand for cancer profiling is expected to grow. Cancer profiling-based personalized medicine is a promising approach that utilizes genomic and molecular information to modify cancer treatment for individual patients. By identifying specific genetic mutations and alterations, doctors can select the most effective therapies for each patient, potentially improving outcomes and reducing side effects.
Technological advancements in cancer profiling are anticipated to increase the global cancer profiling market in the forecast years. One of the most promising new technologies in cancer profiling is liquid biopsy, which uses blood test to offer information on the kind of cancer in patients more swiftly and least invasively. This necessitates intrusive operations, sometimes under general anaesthesia, for tumors situated deep within the body, such as the lungs or pancreas. Numerous technologies, including liquid biopsy, are employed in translational and clinical cancer research.
However, the global cancer profiling market is constrained by a lack of access to testing samples, poor storage conditions, and an increase in the use of immunotherapy. Moreover, inadequate reimbursement situations and a lack of standard laws are also impeding the global cancer profiling market revenue growth.
Market Ecosystem
The global cancer profiling market is analyzed from five perspectives: Cancer Type, Technology, Biomarker, Application and Region.
Cancer Profiling Market by Cancer Type
Based on cancer type, the global cancer profiling market is segmented into breast cancer, lung cancer, colorectal cancer, prostate cancer, melanoma cancer, and other cancers.
The breast cancer segment dominated the global cancer profiling market in 2022. Cancer profiling in breast cancer is increasing for two major reasons, increasing prevalence of breast cancer, and rising research and development on breast cancer. Cancer profiling in breast cancer allows for personalized treatment plans and can help identify individuals who may benefit from targeted therapies. Additionally, it can aid in predicting the likelihood of recurrence and guide decisions regarding further treatment. Moreover, on a genetic level cancer profiling allows scientists to better comprehend the varied character of breast cancer. Many gene expression patterns for breast tumors have emerged from preliminary research, and they appear to be broadly concordant in their capacity to predict poor prognosis.
Cancer Profiling Market by Technology
Based on the technology, the global cancer profiling market is segmented as immunoassay, next generation sequencing, polymerase chain reaction, mass spectrometry, in-situ hybridization, microarrays, and other technologies.
The next-generation sequencing (NGS) technology dominated the global cancer profiling market with largest revenue share in 2022. NGS is frequently used in cancer research to discover genomic variants and mutations. NGS allows researchers and doctors to examine enormous amounts of DNA and RNA simultaneously. Moreover, next generation sequencing (NGS) allows for the simultaneous analysis of multiple genes and genetic alterations, providing a comprehensive view of the genomic landscape of cancer. This information can be used to guide personalized treatment decisions and improve patient outcomes.
Cancer Profiling Market by Biomarker
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Based on biomarker, the global cancer profiling market is segmented into genomic biomarker, protein biomarker, and another biomarker.
Genomics biomarker dominated global cancer profiling market in 2022. Genomic biomarkers have transformed cancer profiling by enabling a more precise and customized approach to cancer patient diagnosis, therapy, and follow-up. They give medical professionals the ability to pinpoint the precise genetic abnormalities that increase tumor growth, which can guide custom-made therapy and enhance patient outcomes.
Cancer Profiling Market by Application
Based on application, the global cancer profiling market is segmented into research application and clinical application.
Research application segment accounted majority of global cancer profiling market revenue share in 2022. The research application segment is sub segmented into biomarker discovery and personalized medicine. Cancer profiling in research application offers several advantages, including the ability to identify specific genetic mutations that can inform treatment decisions and predict patient outcomes. Additionally, it allows for the development of personalized therapies that can target these mutations, leading to more effective and efficient treatment options. Currently, the biomarker discovery segment is leading. Cancer profiling can identify specific biomarkers that can be used for early detection, diagnosis, and personalized treatment of cancer. This approach can also lead to the development of new targeted therapies that are more effective and have fewer side effects than traditional treatment therapies.
Cancer Profiling Market by Region
Based on the region, the global cancer profiling market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America dominated the cancer profiling market with largest revenue share. Increased cancer disease incidence, increased investment in cancer diagnostics research and development, and ongoing mergers and acquisitions among companies all contribute to the region's revenue growth. According to Center for Disease Control and Prevention in 2020, cancer was the biggest cause of death in Canada and, after heart disease, the second greatest cause in the United States. According to the American Cancer Society, there were approximately 1.9 million new cancer diagnoses and 693,000 cancer deaths in North America in 2018.
The European cancer profiling market is characterized by increasing prevalence of cancer and the growing demand for personalized medicine. Additionally, advancements in genomic technologies and rising investments in research and development activities are also contributing to the global cancer profiling market revenue growth.
Asia Pacific is predicted to be the fastest-growing geographic region in cancer profiling market over the forecast period. This is due to the high prevalence of cancer, growing proteomics and genomics research in the region, and increased research funding, as well as rising investments by pharmaceutical and biotechnology businesses.
Competitive Landscape
Several companies are emphasizing development tactics, such as new launches, product approvals, and other elements like patents and events. The market saw acquisition, partnership, and cooperation activities as inorganic development tactics. These initiatives have enabled the expansion of future economic business prospects and increased demand for calcitonin in the global cancer profiling market.
Some of the prominent companies having the largest revenue share in the global cancer profiling market are,
Strategic Developments
The global cancer profiling market was valued at US$ 23.7 billion by 2031.
Over the years, cancer profiling market have revolutionized the field of cancer profiling by technological advancements such as liquid biopsy. Moreover, the cancer profiling market is also increasing as demand for personalized medicine.
The global cancer profiling market is expected to register a revenue CAGR of 10.54% by 2031.
Cancer profiling refers to the process of analyzing cancer cells to understand their genetic and molecular characteristics.
Based on the region, the global cancer profiling market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America accounted highest revenue share in 2022.
*Insights on financial performance are subject to the availability of information in the public domain
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Snehal Deshmukh
Principle Consultant
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