The rise in cancer cases globally has caused immense pressure on the healthcare system, increasing the demand for precision medicine. Furthermore, increasing pharmaceutical R&D in cancer research has increased cancer/tumor profiling for its use in multiple cancer therapies. This article explores the rising demand for cancer/tumor profiling in clinical and research settings and focuses on its crucial role in identifying the best cancer diagnosis and treatment pathways.
Advancing Precision Medicine Through Cancer/Tumor Profiling
The idea of precision medicine–matching the right treatment to the right patient at the right time isn't new in the field of cancer care. However, in recent years, the demand for precision medicine has significantly increased for cancer treatment and helped accelerate the pace of researchers to understand the molecular pathology of the tumor's DNA. Studies from 2001–2020 indicate that cancer mortality rates have declined by approximately 27%. The success of the treatment outcomes is mainly due to the use of targeted therapies that are carried out to combat specific gene mutations driving cancer development. In contrast to the traditional one-size-fits-all chemotherapy approach, targeted therapies have proven more effective. For example, there is a sharp rise in targeted treatments for individuals with advanced lung cancer, with more than 15 FDA approvals since 2020.
While some biomarker tests are carried out to understand the cancer stage, its progression, and its recurrence in the future, oncologists and pathologists are increasingly adopting cancer/tumor profiling to enhance their capabilities for the identification of actionable biomarkers, which can precisely match the patients undergoing clinical trials and precision therapies.
The growth of the cancer/tumor profiling market is attributed to the increasing prevalence of cancer, the rising pharmaceutical R&D expenditures for discovering new actionable biomarkers, increasing investments in cancer research, advancements in multi-omics tumor profiling and cancer research, the rising use of actionable biomarkers in tumor profiling, and government initiatives aimed at reducing cancer mortality.
From Profiling to Actionable Insights: The Power of NGS
The use of advanced profiling technologies such as next-generation sequencing (NGS) and PCR have increased in cancer treatment due to their high accuracy and declining testing costs.NGS technology enables the rapid and reliable sequencing of multiple genes simultaneously. NGS has helped advance precision medicine, which involves tailoring treatments based on disease-causing molecular changes in a person's body. While NGS is used in various scenarios, oncologists currently use it to sequence patients' biopsy samples to determine the right medicines to target the genetic abnormalities driving tumor growth.
Furthermore, NGS has shown promising results in genomic profiling for targeted cancer therapy applications due to the decreasing costs and turnaround times of NGS, improvements in bioinformatics analyses, and the harmonization of knowledge bases to facilitate the clinical interpretation of genomic results. Such technological advancements have further improved the way oncologists and researchers decide the treatment pathway based on insights gained from cancer/tumor profiling.
High Growth Potential in Emerging Economies
The advent of advanced profiling technologies such as NGS and PCR, increasing cancer cases, and increasing healthcare expenditure presents significant growth opportunities for the players operating in the cancer/profiling market.
Prominent market players are directing their attention towards the Asia-Pacific region, which is emerging as a dynamic market for healthcare product manufacturers and service providers due to continuous improvements in its healthcare infrastructure. Additionally, the substantial population growth in Asia-Pacific stands out as the pivotal factor propelling the growth of the healthcare and pharmaceutical sectors in the region, attracting investments from both private and public organizations.
China, Japan, India, and Singapore aim to gain a strategic position in the global biotech market, paving the way for many research and development activities, including cancer/tumor profiling. India and China are well-established markets in the global biotech outsourcing industry. Compared to Western countries, India and China's large, skilled, and inexpensive workforce has given the countries an advantage in furthering the growth of their biotech industries.
Unlocking Cancer Genomics: Insights from Cancer/Tumor Profiling Market Analysis
Recent insights from Meticulous Research® provide valuable perspectives on the future trajectory of the Cancer/Tumor Profiling Market. Projections suggest a potential worth of $22.3 billion by 2030, driven by a remarkable Compound Annual Growth Rate (CAGR) of 20.9% from 2023 to 2030. At the heart of this transformation is NGS, an advanced technology employed to sequence the orientation of nucleotides in genetic material. Its increasing applications are reshaping various aspects, from cancer research to precision oncology.
Significant trends are emerging due to the ongoing evolution of the cancer/tumor profiling market. In 2023, the technology used for cancer/tumor profiling has emerged as an important aspect, propelled by the demand for gaining accurate and precise insights into the tumor's DNA. Additionally, profiling addresses multiple questions critical for precise cancer treatment, such as cancer stage, progression, and future recurrence.
As the global landscape takes shape, the North American region is expected to hold a substantial market share in 2023. Notably, influential industry players, including Thermo Fisher Scientific Inc. (U.S.), Illumina, Inc. (U.S.), and F. Hoffmann-La Roche Ltd. (Switzerland), have established a broad presence across various regions, leading to the widespread adoption of their cancer/tumor profiling solutions in cancer treatment. In essence, this comprehensive overview from Meticulous Research serves as a gateway into the cancer/tumor profiling market.
The rise in cancer cases globally has propelled the demand for precision medicine. Additionally, cancer/tumor profiling, facilitated by advanced technologies such as NGS and PCR, is reshaping the approach of researchers and oncologists toward cancer treatment, making it more effective and precise.
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