Cancer Tumor Profiling Market Size, Industry Share, Analysis, Report and Forecast 2022-27
Global Cancer Tumor Profiling Market Report
Global cancer tumor profiling market size reached US$ 9.38 Bn in 2021. By 2027, It will reach a value of US$ 18.22 Bn, growing at a CAGR of 11.20% (2022-2027).
SHERIDAN, WYOMING, UNITED STATES, September 14, 2022 /EINPresswire.com/ -- The latest research study “Cancer Tumor Profiling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global cancer tumor profiling market reached a value of US$ 9.38 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 18.22 Billion by 2027 exhibiting a CAGR of 11.20% during 2022-2027.
Cancer/tumor profiling, or biomarker testing, is a laboratory test for identifying specific proteins, genes or gene mutations, and other biomarkers in a tumor tissue sample. It helps oncologists determine whether the pathways of an individual’s tumor match up with the available targeted therapies. It also assists in routine diagnostics, therapeutic decision-making, and creating personalized treatment plans and therapies for patients according to the severity of their ailment and genomic build-up. As a result, cancer/tumor profiling finds extensive applications in research, biomarker discovery, developing screening and diagnostic techniques, and personalized medicine.
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COVID-19 Impact on Market: (Positive Impact)
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Cancer Tumor Profiling Market Trends and Drivers:
The global cancer tumor profiling market is primarily driven by the rising prevalence of cancer. Additionally, there has been widespread product adoption in the oncology research and discovery of biomarkers during the drug design, discovery and development process. In line with this, the rising government funding and support for developing innovative techniques to decrease the time taken for tumor detection and identification is another major growth-inducing factor.
Furthermore, extensive investments in research and development (R&D) activities by pharmaceutical and biotechnology companies to introduce novel therapies and new drug designing techniques have catalyzed market growth. Other factors, including the increasing clinical trials, growing adoption of immunoassay techniques, escalating demand for personalized medicine, the recent innovations in molecular biology techniques, including next-generation sequencing, and improving healthcare infrastructure, are also anticipated to drive the market further.
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Global Cancer Tumor Profiling Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these top key players include:
Abbott Laboratories, Becton Dickinson and Company, Caris Life Sciences, Exact Sciences Corporation, F. Hoffmann-La Roche Ltd, Hologic Inc., HTG Molecular Diagnostics Inc., Illumina Inc., Laboratory Corporation of America Holdings, NeoGenomics Laboratories, Qiagen N.V., Siemens AG and Sysmex Corporation.
The report has segmented the market on the basis of region, cancer type, technology, technique and application.
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Cancer Type:
• Breast Cancer
• Lung Cancer
• Colorectal Cancer
• Prostate Cancer
• Melanoma Cancer
• Others
Breakup by Technology:
• Next-Generation Sequencing (NGS)
• Polymerase Chain Reaction (PCR)
• Immunohistochemistry (IHC)
• In-Situ Hybridization (ISH)
• Microarray
• Others
Breakup by Technique:
• Genomics
• Proteomics
• Epigenetics
• Metabolomics
Breakup by Application:
• Personalized Medicine
• Diagnostics
• Biomarker Discovery
• Prognostics
• Others
Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
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Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Elena Anderson
IMARC Services Private Limited
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