The Cancer/Tumor Profiling Market is projected to reach $22.3 billion by 2030, at a CAGR of 10.8% from 2023 to 2030. The rise in cancer cases, the growing research of novel molecules, and the increasing number of genomic research projects have increased the demand for cancer/tumor profiling in current use. The emergence of tumor profiling has removed the restraints of traditional cancer/tumor classification approaches, which rely on the morphology of the cancerous cells and the surrounding tissues. Today, cancer/tumor profiling is accepted as the standard technique for classifying tumors, with the guidelines associated with the European Society for Molecular Oncology (ESMO) and the College of American Pathologists (CAP).
The profiling of tumors with advanced technologies such as ISH, NGS, IHC, and PCR has successfully analyzed the genes, amplicons, and gene regions with familiar involvement with tumors. This approach, also known as targeted treatment, delivers high sensitivity for detecting tumor subclones or rare mutations, providing increased visibility regarding important mutations acting as drivers of cancer.
The growth of the cancer/tumor profiling market is attributed to the increasing prevalence of cancer, the rising pharmaceutical R&D expenditures, the growing number of targeted therapies and the discovery of new actionable biomarkers, increasing investments in cancer research, the declining costs of NGS-based profiling, and advancements in multi-omics tumor profiling. However, the high capital investments required for NGS setups and long turnaround times restrain the growth of this market.
Additionally, the increasing focus on developing personalized medicines and the rising awareness and adoption of targeted therapies are expected to generate market growth opportunities. However, the lack of genetic experts for interpreting results, the non-availability of in-house tumor profiling technologies, and the high number of false biomarker discoveries are major challenges for the stakeholders in the cancer/tumor profiling market.
Increasing Focus on the Development of Personalized Medicines Creating Market Growth Opportunities
Personalized/precision medicine uses an individual’s genomic information to offer targeted treatment. The synthesis of genes can rapidly sequence large sections of a person’s genome and aid in the formulation of precision medicine, in turn generating cost-effective alternatives to existing therapies and allowing for novel treatments. Personalized medicine analyzes molecules, individual genes, and networks and translates them into an overall output for the systems of the human body. These medicines can tailor therapies with the best responses and highest safety margins, ensuring better patient care. Moreover, precision medicines help cure diseases and enhance the chances of saving people undergoing treatments for life-threatening diseases. Furthermore, cancer treatment and diagnosis are also advancing significantly with the increased adoption of advanced technologies such as PCR, NGS, FISH, and ISH in precision medicine.
New targeted cancer treatments that use genomic data to provide patient-specific treatments are known as precision oncology. This rapidly developing field has already become a part of mainstream clinical practices. It involves the molecular profiling of cancer cells to identify targetable alterations, also known as biomarkers. Quick and reliable sequencing of multiple genes at once is possible with next–generation sequencing (NGS) technology. Furthermore, personalized medicine contributes to advancements in new therapies for cancer treatment, the development of new methods for disease detection, and the development of preventive medicines. Thus, the increasing inclination toward personalized medicine-based diagnosis and treatment is expected to create opportunities for market growth.
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Advancements in Multi-omics Tumor Profiling and Cancer Research Driving the Growth of the Cancer/Tumor Profiling Market
Cancer research has benefited from the advancement in omics technologies from genomics to transcriptomics and from a wide variety of resources obtained from multiple omics datasets originating from the patients. Multi-omics approaches offer a unique opportunity to identify cancer patients' clinical and molecular features. In transcriptomics and genomics, there is an unmet need to distinguish between inconsistency in related biological procedures, like differences in variability or post-translational changes in the expression profiles due to the role of mRNA transcripts in the development of cancer.
Recent advancements in proteomics have facilitated the emergence of proteogenomic approaches. These approaches seamlessly integrate genomic data with proteomics data, including insights into post-translational modifications such as acetylation and protein phosphorylation. These developments in multi-omics tumor profiling and cancer research are expected to drive the growth of the cancer/tumor profiling market.
Key Players
The report includes a competitive landscape based on an extensive assessment of the key growth strategies adopted by leading market players between 2020 and 2023. The key players profiled in the cancer/tumor profiling market report are Thermo Fisher Scientific Inc. (U.S.), Illumina, Inc. (U.S.), QIAGEN N.V. (Netherlands), F. Hoffmann-La Roche Ltd. (Switzerland), Agilent Technologies, Inc. (U.S.), NanoString Technologies, Inc. (U.S.), HTG Molecular Diagnostics, Inc. (U.S.), Agendia Inc. (U.S.), Personalis, Inc. (U.S.), Exact Sciences Corporation (U.S.), and Tempus Labs, Inc. (U.S.).
Key Findings in the Cancer/Tumor Profiling Market Study:
Based on Biomarker Type, the Genetic Biomarkers Segment is Expected to Account for the Largest Share of the Market in 2023
The large market share of this segment is attributed to the benefits offered by genetic biomarkers, including their reliability in identifying drug-resistant cancer cells, assisting in identifying genetic patterns responsible for future cancer recurrence, and their increased use in the early detection of cancer.
Based on Technology, the Next-Generation Sequencing (NGS) Segment is Expected to Account for the Largest Share of the Market in 2023
The large market share of this segment is attributed to the benefits offered by NGS, such as high-throughput production, efficient instrument runs, and cost-effectiveness compared to traditional first-generation sequencing methods. Additionally, NGS is highly preferred for large-scale genomic profiling and transcriptomic sequencing.
Based on Cancer Type, the Breast Cancer Segment is Expected to Account for the Largest Share of the Market in 2023
The large market share of this segment is attributed to the rising incidence of breast cancer cases and the increasing adoption of tumor profiling for breast cancer.
Based on Application, the Research Applications Segment is Expected to Account for the Largest Share of the Market in 2023
The largest share of this segment is attributed to the decreasing cost of sequencing procedures, the rising research and development efforts by pharmaceutical and biopharmaceutical companies in drug and biomarker discovery, the high sensitivity and throughput offered by advanced profiling technology, and the expanding applications of cancer/tumor profiling in various clinical and research areas.
Based on End User, the Pharmaceutical & Biopharmaceutical Companies Segment is Expected to Account for the Largest Share of the Market in 2023
The large market share of this segment is attributed to the declining costs of sequencing, the increase in research and development activities by pharmaceutical and biopharmaceutical companies, and the extensive utilization of advanced profiling solutions for cancer studies.
Asia-Pacific: Fastest-growing Regional Market
The growth of this regional market is attributed to the accelerated economic growth in many countries across the region, which has increased the focus of governments in these countries on improving the healthcare sector. These government initiatives have led to increased investment to enhance the accessibility of healthcare services, healthcare infrastructure improvements, and biomarker discovery programs. The other key factors supporting the market's growth across this region include the rising prevalence of cancer, the growing adoption of advanced diagnostic and therapeutic technologies, and government initiatives to support genome sequencing programs.
Scope of the Report:
Cancer/Tumor Profiling Market Assessment, by Biomarker Type
- Protein Biomarkers
- Genetic Biomarkers
Cancer/Tumor Profiling Market Assessment, by Technology
- Next-Generation Sequencing (NGS)
- Polymerase Chain Reaction (PCR)
- In-situ hybridization (ISH)
- Immunohistochemistry (IHC)
- Other Technologies
(Note: Other technologies include immunoassays, microarrays, mass spectrometers, Sanger sequencing, pyrosequencing, and fragment analysis)
Cancer/Tumor Profiling Market Assessment, by Application
- Clinical Applications
- Research Applications
Cancer/Tumor Profiling Market Assessment, by Cancer Type
- Breast Cancer
- Colorectal Cancer
- Lung Cancer
- Prostate Cancer
- Lymphoma
- Leukemia
- Cervical Cancer
- Other Cancer Types
(Note: Other cancer types include bladder cancer, melanoma, kidney cancer, stomach cancer, ovarian cancer, thyroid cancer, and head & neck cancers)
Cancer/Tumor Profiling Market Assessment, by End User
- Pharmaceutical & Biopharmaceutical Companies
- Hospitals & Diagnostic Laboratories
- Academic & Research Institutes
- Contract Research Organizations (CROs)
Cancer/Tumor Profiling Market Assessment, by Geography
- North America
- Europe
- Germany
- France
- Italy
- U.K.
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Latin America
- Middle East & Africa
Key questions answered in the report: