Bharat Book Bureau Provides the Trending Market Research Report on “Global Cancer/Tumor Profiling Market Forecast to 2021” under Life Sciences. The report provides information on industry overview, market size, latest developments, industry trends, Key players, global presence, and their future prospects.
Global Cancer/Tumor Profiling Market is projected to grow at a CAGR of 10.7%
Global cancer/tumor profiling market is projected to reach USD 8.74 billion in 2022 from USD 5.26 billion in 2017 at CAGR of 10.7%. The cancer/tumor profiling market is primarily driven by the increasing number of cancer cases, growing utility of biomarkers in tumor profiling, and availability of funding for cancer research. In addition, the introduction and adoption of point-of-care diagnostic tests and development of personalized medicine are expected to offer growth opportunities for manufacturers of cancer/tumor profiling solutions. However, high capital investments and low benefit ratio of biomarkers are restraining the growth of this market.
The immunoassays segment is expected to account for the largest share in 2017
On the basis of technology, the global cancer/tumor profiling market is broadly divided into immunoassays, hybridization, NGS, mass spectrometry, and other technologies. In 2017, the immunoassays segment is expected to account for the largest share of the cancer/tumor profiling technologies market. The high sensitivity and cost-effectiveness of these techniques as well as technological advancements in these immunoassays tests are factors that are expected to propel the growth of this market in the coming years. Furthermore, the hybridization technology is again divided on the basis of type which includes PCR, in-situ hybridization, and microarrays. The PCR segment is expected to account for the largest market share of hybridization technology in 2017. PCR is one of the most widely used technologies in the diagnostics market. This is primarily due to its ease of use, cost-effectiveness, quick turnaround time (4 to 6 hours), and easy availability of kits and reagents.
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The clinical application segment is expected to account for the largest share in 2017
Based on application, the cancer/tumor profiling market is categorized into clinical application, and research application. In 2017, the clinical application segment is expected to account for the largest share of the cancer/tumor profiling market. Technological advancements and the need for early diagnosis are further aiding market growth in this segment.
North America is expected to account for the largest share in 2017
Among the four regions, North America is expected to account for the largest share of the cancer/tumor profiling market in 2017, followed by Europe, APAC, and the RoW. The large share of the North American market is mainly attributed to the increasing government support for discovery and development of biomarkers, increasing demand for personalized medicine, adoption of advanced omics technologies for biomarker discovery, and rising use of biomarkers in drug discovery and development by pharmaceutical companies in that region.
Break-up profile of primaries:
- By Company Type- Tier 1-45%, Tier 2-34% and Tier 3-21%
- By Designation- C-level-14%, D-level-10% and Others-76%
- By Region- North America-40%, Europe-32%, Asia Pacific-20%, and RoW-8%
The cancer/tumor profiling market is dominated by established players such as Illumina (US), QIAGEN (Netherlands), NeoGenomics Laboratories (US), HTG Molecular Diagnostic (US), and Genomic Health (US).
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