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How Much Growth is Expected for the Cancer Profiling Market from 2024 to 2033?

In recent times, the market size for cancer profiling has expanded swiftly. From $11.93 billion in 2023, it is projected to rise to $13.4 billion in 2024, experiencing a compound annual growth rate (CAGR) of 12.3%. The substantial growth during the historical period is credited to factors such as escalating rates of cancer cases, the surge in the precision medicine methods, the clinical use of biomarkers, the advancement and targeting of drug therapies, as well as awareness and advocacy for patients.

In the coming years, the market size for cancer profiling is predicted to experience quick expansion, reaching $20.35 billion by 2028 with a compound annual growth rate (CAGR) of 11.0%. The projected growth during the forecast period is likely due to the incorporation of artificial intelligence, worldwide partnerships in research, the broadening of liquid biopsy applications, regulatory backing for precision medicine, and an increased focus on early detection. Prevailing trends for the forecast period consist of the dominance of liquid biopsy, extensive genomic profiling, the emergence of immunoprofiling, a cooperative data sharing network, and single-cell sequencing.

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What Factors Are Encouraging Growth in the cancer profiling Market?

The escalating occurrence of cancer is projected to fuel the progress of the cancer profiling market in the future. The term cancer incidence denotes the tally of fresh cancer cases detected in a particular demographic over a specific timeframe. Rapid urbanization, increasing elderly population, lifestyle alterations, and environmental and genetic elements are major contributors to the surge in cancer incidence. Cancer profiling facilitates the recognition of distinct genetic or molecular changes in a tumor, such as gene variations or other modifications in the tumor DNA, which proves beneficial in the cancer treatment process. For example, the American Cancer Society, a voluntary organization based in the U.S., estimated in 2022 that the country would diagnose 1.9 million new cancer cases and witness 609,360 cancer deaths. Therefore, the escalating occurrence of cancer is playing a significant role in the expansion of the cancer profiling market.

Which Segments Play a Vital Role in the Cancer Profiling Market?

1) By Technology: Immunoassays, PCR (Polymerized Chain Reaction), NGS (Next-Generation Sequencing), Microarrays, In-Situ Hybridization

2) By Biomarker Type: Genomic Biomarkers, Protein Biomarkers

3) By Cancer Type: Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Melanoma Cancer, Other Cancers

4) By Application: Research Applications, Clinical Applications, Screening, Diagnostics, Prognostics, Other Applications

What Trends Are Driving Change in the Cancer Profiling Market?

The rise of technological developments is becoming a pivotal trend in the cancer profiling market. Major industry players are focusing their energies on developing groundbreaking technologies to secure their market foothold. For example, Roche, a leading multinational healthcare company based in Switzerland, unveiled the AVENIO Edge System in December 2021, with the aim of advancing next-generation sequencing (NGS) technologies. The newly launched AVENIO Edge System is an entirely automated solution that manages the sample preparation process, from the input of the DNA sample to the production of sequencing-ready libraries. It promises to facilitate more comprehensive testing, delivering consistent and superior quality results for future precision medicine. The system is a pre-analytical platform that handles sequencing library preparation, target enhancement, and quantification stages, promising integrated, end-to-end control and reliable, high-quality outcomes.

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What Regions Are Contributing Significantly to the Growth of the Cancer Profiling Market?

North America was the largest region in the cancer profiling market in 2023. The regions covered in the cancer profiling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Cancer Profiling Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the cancer profiling market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Cancer Profiling Market Include

1. Cancer Profiling Market Executive Summary

2. Cancer Profiling Market Segments

3. Cancer Profiling Market Size And Template Market Growth Rate

4. Key Cancer Profiling Market Trends

5. Major Cancer Profiling Market Drivers

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25. Key Mergers And Acquisitions In The Cancer Profiling Market

26. Top Cancer Profiling Companies

27. Cancer Profiling Market Opportunities And Strategies

28. Cancer Profiling Market, Conclusions And Recommendations

29. Appendix

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