Cancer Tumor Profiling Market By Technology [Next-Generation Sequencing (NGS), Polymerase Chain Reaction (PCR), Immunohistochemistry (IHC), In Situ Hybridization (ISH), (Fluorescence In Situ Hybridization (FISH) And Chromogenic In Situ Hybridization (CISH)), Microarray, And Others], Technique (Genomics, Proteomics, Epigenetics, And Metabolomics), And Application (Personalized Medicine, Diagnostics, Biomarker Discovery, Prognostics, And Research Applications)
Cancer/tumor profiling uses several molecular biology techniques, such as microarray, polymerase chain reaction (PCR), and in situ hybridization (ISH), to provide specific information about genetic and molecular makeup of tumor. It can detect the presence or absence of distinct disease-associated targets that guide medical practitioners in deciding the appropriate course of treatment for patients.
In addition, it enables estimating individual patient risk to cancer by performing high throughput genotyping analysis of tumor DNA and predicting the reaction outcome of the therapy.
The global market is driven by increase in adoption of the cancer profiling methods by oncologists, rise in use of cancer biomarkers, surge in prevalence of cancer, and growth in demand for next-generation sequencing technique to meet the demand for cancer profiling. The global cancer/tumor profiling market was valued at $25,318 million in 2016, and is expected to reach $82,447 million by 2023, registering a CAGR of 18.4% from 2017 to 2023.
The global cancer/tumor profiling market is segmented on the basis of technology, technique, application, and region. Based on technology, it is classified into next-generation sequencing (NGS), polymerase chain reaction (PCR), immunohistochemistry (IHC), in situ hybridization (ISH), microarray, and others.
The in-situ hybridization segment is further categorized into fluorescence in situ hybridization (FISH) and chromogenic in situ hybridization (CISH). Based on technique, it is divided into genomics, proteomics, epigenetics, and metabolomics.
Based on application, it is classified into personalized medicine, diagnostics, biomarker discovery, prognostics, and research applications. The biomarker discovery segment generated the highest revenue in 2016, registering a CAGR of 17.4% from 2017 to 2023, and is anticipated to continue its dominance throughout the forecast period, owing to growth in demand for biomarkers.
However, the personalized medicine segment is expected to witness the highest growth rate in the global market.
Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In the recent years, Asia-Pacific has witnessed rapid growth in the global, owing to rise in incidence of cancer, and increase in demand for better healthcare services in the developing economies such as India and China.
In addition, surge in the number of contract research organizations (CROs) and increase in focus of international players on the emerging markets have supplemented the market growth in Asia-Pacific region.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global cancer/tumor profiling market along with the current trends and future estimations to elucidate the imminent investment pockets.
- Comprehensive analyses of the factors that drive and restrict the market growth are provided in the report.
- Comprehensive quantitative analysis of the industry is provided from 2016 to 2023 to assist stakeholders to capitalize on the prevailing market opportunities.
- Extensive analysis of the key segments of the industry helps in understanding the trends in technologies and techniques used across the globe.
- Key market players and their strategies are provided to understand the competitive outlook of the industry.
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