The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s cancer tumor profiling market report forecasts the cancer tumor profiling market size to grow to $18.18 Billion by 2027, with a CAGR (compound annual growth rate) of more than 13%.

Learn More On The Cancer Tumor Profiling Market Report 2023 – https://www.thebusinessresearchcompany.com/report/cancer-tumor-profiling-global-market-report

Cancer Tumor Profiling Market Size Forecast
The global cancer tumor profiling market is expected to grow from $9.62 billion in 2022 to $11.12 billion in 2023 at a compound annual growth rate (CAGR) of 15.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The cancer tumor profiling market size is expected to grow to $18.18 billion in 2027 at a CAGR of 13.1%.

North America held the largest cancer tumor profiling market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Cancer Tumor Profiling Market Driver ­– Increase In The Incidences Of Cancer Across The Globe
For instance, according to the World Health Organization (WHO), there are a 19.3 million increase in cancer cases in 2020, with over 10 million fatalities worldwide. Among these new cases, lung and breast cancer accounted for 23.1% of all cancer cases. In addition, according to the International Agency for Research on Cancer (IARC), 1 in 5 individuals will develop cancer during their lifetime, and 1 in 11 women and 1 in 8 men will die from it. Therefore, the increasing incidences of cancer across the globe drive the growth of the cancer and tumor profiling market.

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Key Cancer Tumor Profiling Market Trend – Increasing Research And Development Activities
Major companies operating in cancer and tumor profiling sector are focused on research and development activities to meet consumer demand and reinforce their position. For instance, in February 2020, QIAGEN N.V, a German company that develops sample and assay technology for applied testing, pharmaceutical development, molecular diagnostics, and academic research announced the Conformitè Europëenne (CE)-marking and commercialization of therascreen PIK3CA RGQ PCR Kit in Europe as a tool to help identify breast cancer patients with PIK3CA mutations. The therascreen PIK3CA test is a diagnostic assay for the detection of an activating mutation in the phosphatidyl 3-kinase catalytic subunit alpha (PIK3CA) gene, and first to allow testing of both DNA from plasma specimens or FFPE tissue.

Cancer Tumor Profiling Market Segment
1) By Cancer Type: Lung Cancer, Breast Cancer, Colorectal Cancer, Prostate Cancer, Melanoma, Ovarian Cancer, Stomach Cancer, Pancreatic Cancer, Thyroid Cancer, Other Cancer Types
2) By Technology: Next-Generation Sequencing (NGS), Polymerase Chain Reaction (PCR), Immunohistochemistry (IHC), In Situ Hybridization (ISH), Microarray, Other Technologies
3) By Process Type: Genomics, Proteomics, Epigenetics, Metabolomics, Other Types
4) By Application: Personalized Medicine, Diagnostics, Biomarker Discovery, Prognostics, Research Applications

Cancer Tumor Profiling Market Major Players and Strategies
Major players in the cancer tumor profiling market are F. Hoffmann-La Roche Ltd., Caris Life Sciences, Thermo Fisher Scientific Inc., Illumina Inc., QIAGEN, Ribomed Biotechnologies Inc., HTG Molecular Diagnostics Inc., NanoString, NeoGenomics Laboratories, Lucence Health Inc., ACT Genomics Co. Ltd., Strand Life Sciences, IMB Dx Inc., Exact Sciences Corporation (Genomic Health Inc.), Guardant Health, and Foundation Medicine Inc.

In July 2021, Labcorp, a US-based clinical laboratory-acquired OmniSeq for an undisclosed amount. The acquisition enables Labcorp to expand its array of clinical trial options and diagnostic tests for cancer patients and doctors. OmniSeq is a US-based company involved in solid tumor profiling that controls new sequencing technologies and supports drug development through pharmaceutical services.

The Cancer Tumor Profiling Global Market Report 2023 covers regional data on cancer tumor profiling market size, cancer tumor profiling market trends and drivers, opportunities, strategies, and cancer tumor profiling market competitor analysis. The countries covered in the cancer tumor profiling market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Cancer tumor profiling refers to a laboratory test that examines a sample of tumor tissue for specific genes, gene mutations (changes), proteins, or other biomarkers. Tumor profiling can help with treatment planning as well as predicting if cancer will recur or spread to other parts of the body.

View More Reports Related To The Cancer Tumor Profiling Market –
Cancer Biologics Global Market Report 2023
Cancer Diagnostics Global Market Report 2023
Tumor Embolization Devices Global Market Report 2023

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