Cancer Tumor Profiling Market Forecast to 2027
The Cancer Tumor Profiling Market is expected to reach USD 31.99 Billion by 2027, according to a new report by Emergen Research. This market’s growth is attributed to the increasing use of biomarkers in cancer profiling and eventually the rising adoption of proteomic methods for biomarker research, thus helping to increase the drug development process over the estimated period. The growing demand for personalized medicine and the rise in cancer incidence across the globe are augmenting the demand for the industry. According to the World Health Organization (WHO), Lung and Breast cancer are common types of cancer, with around 2.09 million cases every year. The growing demand for cancer tumor profiling is driving the market for the estimated period.
The Cancer Tumor Profiling Market study will provide readers, stakeholders, and companies with comprehensive information on market size, revenue growth, and general market dynamics in order to assist them in strengthening their positions in the global Cancer Tumor Profiling market. Also, it provides thorough information on significant factors, constraints, issues, and market divisions depending on factors like product category, application, and regional bifurcation.
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The global Cancer Tumor Profiling market report employs an extremely extensive and perceptive process that analyzes statistical data relating to services and products offered in the market. The research study is a pivotal document in understanding the needs and wants of the clients. The report is comprised of significant data about the leading companies and their marketing strategies. The Cancer Tumor Profiling industry is witnessing an expansion and change of dynamics owing to the entry of several new players.
The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.
Caris Life Sciences, Foundation Medicine, GenomeDX, Genomic Health, Guardant Health, Helomics Corporation, HTG Molecular Diagnostics, Inc., Nanostring Technologies, Neogenomics Inc., Oxford Gene Technology, Qiagen N.V., Ribomed Biotechnologies.
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Some Key Highlights from the Report
The Genomics segment was valued at 2.76 Billion in 2019, owing to the rise in the research institutes’ funding for developing modified medicine is expected to increase the demand for the genomics industry. The use of genomics technology by various companies for cancer tumor profiling is anticipated to increase the overall genomics industry’s demand for the upcoming forecast period.
Asia Pacific countries such as China, India, and Japan, have seen a striking increase in cancer tumor profiling. Developing economies, including India, Singapore, and Korea, are anticipated to intensify global demand.
High investments by companies to launch new products for cancer tumor profiling with various advancement in the new technique is augmented to propel the market. For instance, in May 2019, QIAGEN, launched therascreen PIK3CA RGQ PCR Kit as a companion diagnostic to aid in identifying breast cancer patients.
Immunoassays segments are seen to have the largest market share in 2019. The Immunoassays technology is used to detect tumors with applications in Oncological Diagnostics, Prognostics, Monitoring and Treatment, and Screening.
In 2019, the Research Application segment was valued at USD 5.67 Billion owing to the rise in the research and development, increasing demand for personalized medicine. The use of cancer tumor profiling helps to decide whether the patients require a diagnostic test. Furthermore, advancement in molecular biology is one of the factors to boost market growth.
The North America regional section held the most extensive share in the Cancer tumor profiling industry, with 37.2% in 2019. The industry is dominated in this region due to substantial growth in clinical and research applications and key players in the region.
The report bifurcates the Cancer Tumor Profiling market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
Technique Type Outlook (Revenue, USD Billion; 2017-2027)
Technology Outlook (Revenue, USD Billion; 2017-2027)
In Situ Hybridization
Fluorescence In Situ Hybridization (FISH)
Chromogenic In Situ Hybridization (CISH)
Polymerase Chain Reaction (PCR)
Next Generation Sequencing(NGS)
Application Outlook (Revenue, USD Billion; 2017-2027)
Personalized Cancer Medicine
Monitoring and Treatment
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The research report offers a comprehensive regional analysis of the market with regards to production and consumption patterns, import/export, market size and share in terms of volume and value, supply and demand dynamics, and presence of prominent players in each market.
Regional Analysis Covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Furthermore, the report provides the analytical data in an organized format segmented into charts, tables, graphs, figures, and diagrams. This enables readers to understand the market scenario in an easy and beneficial manner. Moreover, the report aims to impart a prospective outlook and draw an informative conclusion to assist the reader in making lucrative business decisions. The report, in conclusion, provides a detailed analysis of the segments expected to dominate the market, the regional bifurcation, the estimated market size and share, and comprehensive SWOT analysis and Porter’s Five Forces Analysis.
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