Global Cancer Tumor Profiling Market Report and Forecast 2024-2032

Global Cancer Tumor Profiling Market Size

The global cancer tumor profiling market was valued at USD 11 billion in 2023 driven by increase in cancer cases, technological advancements in profiling technologies across the globe. The market is expected to grow at a CAGR of 11.70% during the forecast period 2024-2032 and attain a market value of USD 29.78 billion by 2032.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Global Cancer Tumor Profiling Market Outlook

• Cancer is one of the leading causes of death in the worldwide. Globally, there were 9.7 million cancer-related deaths and about 20 million new cases in 2022. It is anticipated that by 2040, there would be 15.3 million cancer-related deaths and 29.9 million new instances of cancer annually.

• The primary drivers of the market include the rising incidence of cancer and the growing need for cancer tumor profiling in routine diagnostics, therapeutic decision-making, and the creation of personalized treatment plans and medicines.

• In 2024, North America is expected to dominate the market due to the high percentage of cancer cases, large investments in research and development.

Global Cancer Tumor Profiling Market Overview

Tumor profiling constitutes the pinnacle of efforts, where it aims to classify neoplasms into subgroups that give information about how cancer has evolved, how it can be better treated, and how should direct drug design strategies to treat them.

Tumor profiling is testing that looks at unique DNA changes in a patient’s tumor, and in recent years, significant advancements have been made in this field of cancer care. It is the technology oncologists use to determine if the pathways of a patient’s tumor match up with available targeted treatments. The tumor profiling process starts with obtaining a sample of tumor tissue. The tissue is usually collected through a core biopsy, but it can also be taken during surgery. Once the tissue sample is obtained, tumor DNA is extracted from the tumor cells, purified, and then sent to a lab. The DNA is tested, or sequenced, to look for gene mutations that could make the tumor responsive to certain treatments.

Global Cancer Tumor Profiling Market Growth Drivers

Rising Prevalence of Cancer

The worldwide cancer burden is increasing because of aging populations, lifestyle changes, and environmental causes. This increase in cancer incidence increases the requirement for sophisticated diagnostic and therapeutic options, such as tumor profiling.

The World Health Organization (WHO) estimates that 1 in 5 people will get cancer at some point in their lives, and around 1 in 9 men and 1 in 12 women will pass away from the illness. Furthermore, it is anticipated that there would be more than 35 million new cases of cancer in 2050, indicating a 77% rise from the projected 20 million cases in 2022.  With approximately 1 in 6 deaths worldwide, cancer ranks as the second most common cause of death worldwide. Most cancer cases in the WHO's Eastern Mediterranean Region are discovered later in life when therapies are less successful and patient outcomes are worse. Based on estimates, the region is expected to have the largest increase in cancer burden among the six WHO regions by 2030.

Development in Genomic Technologies

Advances in next-generation sequencing (NGS) and other genomic analytic tools have greatly improved the capacity to sequence and study cancer genomes. These tools enable the full profiling of genetic mutations, copy number changes, and other molecular changes in malignancies.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Global Cancer Tumor Profiling Market Trends

The market is witnessing several trends and developments to improve the current global scenario. Some of the notable trends are as follows:

Global Cancer Tumor Profiling Market Segmentation

Market Breakup by Product Type

• Instruments

• Consumables
  • Kits
  • Reagents
  • Others

Market Breakup by Cancer Type

• Breast Cancer

• Lung Cancer

• Colorectal Cancer

• Prostate Cancer

• Melanoma Cancer

• Other Cancer

Market Breakup by Biomarker Type

• Genomic Biomarker

• Protein Biomarker

Market Breakup by Technology

• Immunoassays

• Next-Generation Sequencing

• Polymerase Chain Reaction

• Mass Spectrometry

• Others

Market Breakup by Application

• Clinical

• Research

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Global Cancer Tumor Profiling Market Share

Market Share Based on Biomarker Types to Witness Growth in the Forecast Period

The market segmentation based on biomarker type is segmented into genomic biomarkers and protein biomarkers. Biomarkers are molecular indicators of a biological status, and as biochemical species can be assayed to determine the presence of cancer and therapeutic interventions. Genomic biomarkers examine genetic alterations, whereas protein biomarkers examine protein expression levels. The first biomarker to be used in diagnosis of cancer was protein biomarkers. The biomarker material produced by cancer cells can lead to their own identification, which then opens the door for their non-invasive detection in bodily fluids and tissues to identify tumor presence or tumor load.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Global Cancer Tumor Profiling Market Analysis by Region

Based on region, the market report covers North America, Europe, Asia Pacific, Latin America along with the Middle East and Africa. North America is poised to hold a significant market share in the forecast period, driven by an increasing percentage of cancer cases, large investments in research and development in the region. Furthermore, North America has a strong network of academic and research institutions, pharmaceutical and biotechnology companies, and other businesses that work together to promote innovation in cancer tumor profiling technologies.

The cancer tumor profiling market value in Europe is expanding rapidly, due to developments in targeted therapy and personalized medicine. This market includes the products and services that are meant to help with therapy selection by providing molecular tumor characterization.

The Asia Pacific market is experiencing rapid growth which is driven by several key factors which include the increase in incidence of cancer, personalized medicine, advancement in technology. For shaping the market dynamics, countries like China, Japan, India, and South Korea will play a vital role in the forecast period.

Leading Players in the Global Cancer Tumor Profiling Market

The key features of the market report include patent analysis as well as strategic initiatives including recent partnerships and collaborations by the leading players. The major companies in the market are as follows:

Illumina Inc.

Illumina, Inc, an American biotechnology business has its headquarters in San Diego, California. Established in 1998, Illumina is a company that designs, produces, and sells integrated technologies for the study of biological function and genetic diversity. Illumina, a pioneer in array-based technologies and genome sequencing, offers solutions for clinical and research settings, including thorough cancer tumor profiling.

NeoGenomics Laboratories

NeoGenomics Laboratories, Inc., also known as NeoGenomics or Neo has its headquarters in Fort Myers, FL. It operates a nationwide network of testing facilities, including labs in Florida. It is a high-complexity clinical laboratory with CLIA certification, pharmaceutical services provider, and information services provider with a focus on cancer genetics diagnostic testing. Among the testing services offered by the company are molecular genetics, immunohistochemistry, flow cytometry, cytogenetics, and fluorescence in situ hybridization (FISH).

Qiagen N.V.

QIAGEN N.V. is a German-founded international company that offers assay and sample technologies for molecular diagnostics, including QIAseq and QIAcuity technology for tumor profiling. The QIAGEN group’s global corporate headquarters are in Venlo, the Netherlands. The main operative headquarters are located in Hilden, Germany.

Caris Life Sciences

In 2008, Caris Life Sciences was established with the straightforward but effective goal of assisting in the improvement of as many people's lives as possible. To support individualized cancer treatment plans, it offers molecular profiling services, such as thorough tumor profiling and molecular intelligence solutions.

Guardant Health

Guardant Health is an American biotechnology company based in Palo Alto, California. It specializes in non-invasive liquid biopsy procedures that examines blood samples for circulating tumor DNA (ctDNA), which offers information regarding tumor mutation and treatment response.

Other players in the market include Abbott Laboratories, Becton Dickinson and Company, Exact Sciences Corporation, F. Hoffmann-La Roche Ltd., Hologic, Inc., HTG Molecular Diagnostics Inc., Laboratory Corporation of America Holdings, Siemens AG, Sysmex Corporation and GenScript.

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Highlights of the Report

Key Questions Answered in the Global Cancer Tumor Profiling Market Report

• What was the global cancer tumor profiling market value in 2023? 
• What is the global cancer tumor profiling market forecast outlook for 2024-2032? 
• What are the regional markets covered in the EMR report?
• What is market segmentation based on biomarker type? 
• What is the market breakup based on application? 
• Who are the major end users in the market? 
• What are the major factors aiding the global cancer tumor profiling market demand?
• How has the market performed so far and how is it anticipated to perform in the coming years? 
• What are the major trends influencing the market?  
• What are the major drivers, opportunities, and restraints in the market?  
• Which regional market is expected to dominate the market share in the forecast period?  
• Which country is likely to experience elevated growth during the forecast period?  
• Which application area is expected to have a high market value in the coming years? 
• How does the prevalence and incidence of cancer affect the market landscape? 
• Which end user will contribute significantly to the market growth? 
• Who are the key players involved in the cancer tumor profiling market? 
• What are the current unmet needs and challenges in the market? 
• How are partnerships, collaborations, mergers, and acquisitions among the key market players shaping the market dynamics?