How Has The Cancer Tumor Profiling Market Evolved Historically?
The cancer tumor profiling market has exhibited promising growth trends in the past few years, powered by burgeoning advances in cancer research and therapeutic developments.
- In 2024, the market size was valued at $13 billion and is projected to balloon to $14.99 billion in 2025, marking a significant CAGR of 15.3%.
The upsurge during this period is attributed to the escalating incidence of cancer, growth in precision medicine initiatives, robust research collaborations, enhanced cancer diagnostics, and the expanding gamut of targeted therapy options.
What Is The Forecasted Market Size And Growth For Cancer Tumor Profiling Market?
The cancer tumor profiling market is anticipated to witness rapid escalation in the upcoming years.
- The market size is anticipated to mount to $25.33 billion by 2029, at a CAGR of 14.0%.
The expansion in the forecast period is driven by growth of immunotherapy and immunoprofiling in cancer treatment, non-invasive tumor profiling methods, and rising demand for rare and orphan cancer subtype profiling. Further, advances in genomics and next-generation sequencing ratchet up the growth.
What Factors Are Pushing The Growth Of The Cancer Tumor Profiling Market?
The rise in global cancer incidences is the primary growth driver for the cancer and tumor profiling market. As cancer cases increase, the demand for cancer tumor profiling rises, providing critical insights for healthcare providers to gauge disease severity. The American Cancer Society illustrated this with the rise in cancer diagnoses in the U.S from 1.9 million new cases in 2023 to 2 million new cases in 2024.
How Is The Global Cancer Tumor Profiling Market Segmented?
The cancer tumor profiling market can be segmented as follows –
1) By Cancer Type: Lung Cancer, Breast Cancer, Colorectal Cancer, Prostate Cancer, Melanoma, and others
2) By Technology: Next-Generation Sequencing (NGS), Polymerase Chain Reaction (PCR), Immunohistochemistry (IHC), and others
3) By Process Type: Genomics, Proteomics, Epigenetics, Metabolomics
4) By Application: Personalized Medicine, Diagnostics, Biomarker Discovery, Prognostics, Research Applications
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What Trends Are Impacting The Cancer Tumor Profiling Market?
Revamped research and development initiatives have emerged as the leading trends in the cancer and tumor profiling market. For instance, QIAGEN N.V has commercialized the therascreen PIK3CA RGQ PCR Kit, an innovative diagnostic tool aiding the identification of breast cancer patients with PIK3CA mutations.
Who Are The Key Players In The Cancer Tumor Profiling Market?
Dominant players in the market include:
- F. Hoffmann-La Roche Ltd.
- Caris Life Sciences
- Thermo Fisher Scientific Inc.
- Illumina Inc.
- Qiagen
- And many others
Which Region Dominates The Cancer Tumor Profiling Market?
North America commands the largest share in the cancer and tumor profiling market as of 2024. However, Asia-Pacific is expected to witness the fastest growth during the forecast period.
