global cancer and tumor profiling market size is expected to reach USD 18.13 Billion in 2028 and register a revenue CAGR of 10.3% during the forecast period

NEW YORK CITY, NY, UNITED STATES, June 17, 2022 /EINPresswire.com/ -- The global cancer and tumor profiling market size is expected to reach USD 18.13 Billion in 2028 and register a revenue CAGR of 10.3% over the forecast period, according to latest report by Reports and Data. Rapid market revenue growth can be attributed to benefits of cancer/tumor profiling in cancer treatment. Cancer/tumor profiling facilitates early treatment of patients and discovery of targeted medicine. It also helps in lowering mortality rates and in collecting more data on different types of cancer at various stages.

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Cancer/tumor profiling enables doctors to confirm presence of cancer from various proteins, biomarkers, or gene mutations within tissues. This method helps in predicting recurrences of cancer and its spread within the body. Profiling helps oncologists plan treatment in the most effective way to cure this disease.

Growing investments by private players on new technologies and government spending on healthcare are increasing demand for cancer/tumor profiling. Cancer/tumor profiling is one of the most effective tools in diagnosing cancer at early stages. It can help in collecting information about specific genes and biomarkers that are highly responsible for mutation. As cancer is an inheritable disease, upcoming generations can be protected from it with the help of cancer/tumor profiling.

Some Key Highlights from the Report:

By cancer type, lung cancer segment revenue is expected to grow at a faster rate over the forecast period. Increasing cases of lung cancer have been observed across the globe. Cancer/tumor profiling for lung cancer is of utmost importance as a decent number of biomarkers have been recognized, and so this cancer can be treated with targeted medicine.

Biomarkers are those biological molecules that are used to detect presence of any abnormality in cells in the human body. It is generally found in blood, other body fluids, or tissues. Cancer/tumor profiling technologies help in identifying these biomarkers at the earliest and thereby helps in reducing mortality rates.

By technology, next-generation sequencing (NGS) segment accounted for largest revenue share in 2020. This technology is known for its ultra-high output, scalability, and speed. A deep study of genetically mutated regions and rapid sequencing of whole genomes are key functionalities of NGS in cancer/tumor profiling.

The cancer/tumor profiling market in North America accounted for largest revenue share in 2020, due to growing initiatives by governments to promote innovation in the oncology field and rising cases of metastatic cancer in the region. Additionally, presence of various major players such as Illumina Inc. and Thermo Fisher Scientific Inc. in the region is boosting revenue growth of the market in this region.

In November 2021, Thermo Fisher Scientific Inc. received approval from FDA for the device named QuantStudio-7 Pro Dx Real-Time PCR System as a class II medical device. This device is known for fast ramp-up with no specialized training and various other in-built technologies to support productivity.
Competitive Landscape:

The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, product & service portfolio. The Cancer and Tumor Profiling market is extremely competitive and consists of several key players at regional and global level. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in R&D, partnerships, joint ventures and collaborations to strengthen their market position and enhance product portfolio.

Leading companies operating in the market are:

Thermo Fisher Scientific Inc., Illumina Inc., Siemens AG, F.Hoffmann La Roche Ltd, Nanostring Technologies Inc., BioGenex, Neogenomics Laboratories Inc., HTG Molecular Diagnostics Inc., Perkin Elmer Inc, CellCarta Inc, Ribomed Biotechnologies Inc, Perthera, Qiagen N.V., and Personalis Inc.

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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:

Cancer and Tumor Profiling Market Segmentation:

Cancer Type Outlook (Revenue, USD Billion; 2018–2028)

Lung Cancer
Breast Cancer
Colorectal Cancer
Prostate Cancer
Melanoma
Ovarian Cancer
Stomach Cancer
Pancreatic Cancer
Thyroid Cancer
Sarcoid
Other

Technology Outlook (Revenue, USD Billion; 2018–2028)

Immunohistochemistry(IHC)
Fluorescence in situ Hybridization (FISH)
Next-Generation Sequencing (NGS)
Quantitative Polymerase Chain Reaction (qPCR)
Chromogenic in Situ Hybridization (CISH)
Microarray
Others

Regional Outlook:

North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
Italy
France
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
A.E.
South Africa
Rest of MEA

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, TouchPoints, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provide our clients with the ability to secure an edge over their respective competitors.

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