Cancer Profiling Market Analysis: Key Insights on Growth Rates, Trends, and Major Opportunities
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What key factors are powering the surge in the cancer profiling market right now?
The market size for cancer profiling has expanded significantly in recent years. Its growth is projected to escalate from $13.48 billion in 2024 to approx $15.05 billion in 2025, boasting a compound annual growth rate (CAGR) of 11.6%. The historic period’s growth was primarily due to upticks in cancer incidence rates, the rise of precision medicine methods, broader clinical usage of biomarkers, advancements in drug development and targeted therapies, heightened awareness, and patient advocacy.
How fast Is the cancer profiling market expected to grow, and what’s its future value?
The size of the cancer profiling market is anticipated to experience swift progress in the forthcoming years. It is projected to augment to $23.08 billion by 2029, growing at a compounded annual growth rate (CAGR) of 11.3%. The amplified growth during the predicted period could be credited to factors such as the incorporation of artificial intelligence, global unified research efforts, the broadening realm of liquid biopsy applications, supportive regulatory measures for precision medicine, and a rising focus on early diagnosis. Influential trends during this future period are expected to encompass the predominance of liquid biopsy, inclusive genomic profiling, the emergence of immunoproofiling, cooperative data interchange platforms, and single-cell sequencing.
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What are the leading drivers of growth in the cancer profiling market?
The surge in cancer cases is projected to boost the expansion of the cancer profiling market. The term ‘incidence of cancer’ means the count of fresh cancer diagnoses in a particular demographic over a stated time frame. This rise in cancer incidence is a result of urbanization, an aging population, lifestyle modifications, and environmental and genetic factors. Cancer profiling is beneficial in recognizing specific molecular or genetic alterations in a tumor, such as gene mutations or other DNA changes in the tumor, that can aid in the cancer treatment process. For example, in 2022, the American Cancer Society, a volunteer organization based in the U.S., projected that there would be an estimated 1.9 million new cancer diagnoses and 609,360 cancer-related deaths in the country. As a result, the escalating prevalence of cancer is fuelling the growth of the cancer profiling market.
What are the key segments defining the cancer profiling market?
The cancer profiling market covered in this report is segmented –
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
Subsegments:
1) By Immunoassays: Enzyme-Linked Immunosorbent Assay (ELISA), Western Blotting, Luminex xMAP Technology, Radioimmunoassays
2) By PCR (Polymerase Chain Reaction): Quantitative PCR (qPCR), Digital PCR (dPCR), Reverse Transcription PCR (RT-PCR)
3) By NGS (Next-Generation Sequencing): Whole Genome Sequencing (WGS), Whole Exome Sequencing (WES), Targeted Sequencing, RNA Sequencing (RNA-Seq)
4) By Microarrays: DNA Microarrays, RNA Microarrays, SNP Arrays
5) By In-Situ Hybridization: Fluorescence In-Situ Hybridization (FISH), Chromogenic In-Situ Hybridization (CISH)
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Who are the key players steering the development of the cancer profiling market?
Major companies operating in the cancer profiling market include Illumina Inc., Qiagen NV, NeoGenomics Inc., Sysmex Corporation, HTG Molecular Diagnostics Inc., Caris Life Sciences, NanoString Technologies Inc., Guardant Health Inc., Foundation Medicine Inc., Roche Diagnostics Corporation, F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Genscript Biotech Corporation, Tempus Labs Inc., Hologic Inc., Predictive Oncology Inc., Abbott Laboratories, Agilent Technologies Inc., PerkinElmer Inc., Siemens Healthineers, Genomic Health Inc., Natera Inc., ArcherDX Inc., Personal Genome Diagnostics Inc., Enzo Biochem Inc., Cancer Genetics Inc., OncoDNA SA, Ribomed Biotechnologies Inc., Biocartis Group NV, N-of-One Inc., Cynvenio Biosystems Inc., Inivata Ltd., Burning Rock Biotech Limited, PathAI Inc., GENEWIZ Inc., Genoptix Inc., Oncomine Dx Target Test, OmniSeq Comprehensive, Resolution Bioscience, OncoCyte Corporation
What emerging trends are influencing the growth of the cancer profiling market?
Leading businesses involved in the cancer profiling industry are concentrating on pioneering advancements, such as extensive coverage. This type of testing reviews 517 genes related to cancer across approximately 30 different solid tumor types. Extensive coverage implies an all-inclusive examination of various genetic mutations, biomarkers, or molecular targets. For example, Illumina, Inc., a biotechnology firm based in the US, debuted the TruSight Oncology Comprehensive (TSO) test in March 2022, signaling a substantial progression in cancer diagnostics. This newly launched in vitro diagnostic assessment in Europe profiles cancer mutations to direct patients towards specific therapies. It studies 517 genes in nearly 30 varieties of solid tumors, examining both DNA and RNA. With results available in just four to five days, it’s a quicker method and holds a CE mark for European quality standards, minimizing the necessity for multiple gene tests on diverse tissue samples.
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Which regions are most influential in expanding the cancer profiling market?
North America was the largest region in the cancer profiling market in 2024. The regions covered in the cancer profiling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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