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Cancer Tumor Profiling Global Market Report 2022

·4-min read

Major players in the cancer tumor profiling market are F. Hoffmann-La Roche Ltd, Caris Life Sciences, Thermo Fisher Scientific Inc. , Illumina Inc. , QIAGEN, Ribomed Biotechnologies Inc. , HTG Molecular Diagnostics Inc.

New York, June 15, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "Cancer Tumor Profiling Global Market Report 2022" -
, NanoString, NeoGenomics Laboratories, Lucence Health Inc., ACT Genomics Co. LTD, Strand Life Sciences, IMB Dx Inc., Exact Sciences Corporation (Genomic Health Inc.), Guardant Health, and Foundation Medicine Inc.

The global cancer tumor profiling market is expected to grow from $8.16 billion in 2021 to $9.58 billion in 2022 at a compound annual growth rate (CAGR) of 17.5%. The cancer tumor profiling market is expected to grow to $15.96 billion in 2026 at a CAGR of 13.6%.

The cancer tumor profiling market consists of sales of cancer tumor profiling technologies by entities (organization, partnership, sole traders) that refer to a laboratory test that examines a sample of tumor tissue for specific genes or gene mutations (changes), proteins, or other biomarkers. Tumor profiling can help with treatment planning as well as predicting if cancer will recur or spread to other parts of the body.

The main types of cancer and tumor profiling are lung cancer, breast cancer, colorectal cancer, prostate cancer, melanoma, ovarian cancer, stomach cancer, pancreatic cancer, thyroid cancer, and other cancer types.The different technologies include next-generation sequencing (NGS), polymerase chain reaction (PCR), immunohistochemistry (IHC), in situ hybridization (ISH), microarray, and other technologies and involve various processes types such as genomics, proteomics, epigenetics, metabolomics, others.

It is used in several applications including personalized medicine, diagnostics, biomarker discovery, prognostics, and research applications.

North America was the largest region in cancer and tumor profiling market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in cancer and tumor profiling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The increasing incidences of cancer across the globe are expected to propel the growth of cancer and tumor profiling market going forward.Cancer is a disease in which some cells in the body get uncontrollably large and spread to other parts of the body.

As the number of cancer cases rises, so does the demand for cancer tumor profiling, which enables doctors to determine the severity of the disease. For instance, according to the World Health Organization (WHO), there are a 19.3 million increase in cancer cases in 2020, with over 10 million fatalities worldwide. Among these new cases, lung and breast cancer accounted for 23.1% of all cancer cases. In addition, according to the International Agency for Research on Cancer (IARC), 1 in 5 individuals will develop cancer during their lifetime, and 1 in 11 women and 1 in 8 men will die from it. Therefore, the increasing incidences of cancer across the globe drive the growth of the cancer and tumor profiling market.

The increasing research and development activities have emerged as the key trend gaining popularity in the cancer and tumor profiling market.Major companies operating in the cancer and tumor profiling sector are focused on research and development activities to meet consumer demand and reinforce their position.

For instance, in February 2020, QIAGEN N.V, a German company that develops sample and assay technology for applied testing, pharmaceutical development, molecular diagnostics, and academic research announced the Conformitè Europëenne (CE)-marking and commercialization of therascreen PIK3CA RGQ PCR Kit in Europe as a tool to help identify breast cancer patients with PIK3CA mutations. The therascreen PIK3CA test is a diagnostic assay for the detection of an activating mutation in the phosphatidyl 3-kinase catalytic subunit alpha (PIK3CA) gene, and first to allow testing of both DNA from plasma specimens or FFPE tissue.

In July 2021, Labcorp, a US-based clinical laboratory-acquired OmniSeq for an undisclosed amount.The acquisition enables Labcorp to expand its array of clinical trial options and diagnostic tests for cancer patients and doctors.

OmniSeq is a US-based company involved in solid tumor profiling that controls new sequencing technologies and supports drug development through pharmaceutical services.

The countries covered in the cancer tumor profiling market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Read the full report:

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