How Will The Cancer Tumor Profiling Market Grow In 2022?
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The cancer tumor profiling market is forecasted to achieve notable growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 13%, as per The Business Research Company’s market report!
Read More On The Cancer Tumor Profiling Market Report 2022 – https://www.thebusinessresearchcompany.com/report/cancer-tumor-profiling-global-market-report
The Cancer Tumor Profiling Market Size In 2022 And Forecast
The global cancer tumor profiling market is expected to grow from $8.16 billion in 2021 to $9.58 billion in 2022 at a compound annual growth rate (CAGR) of 17.5%. 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, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The cancer tumor profiling market is expected to grow to $15.96 billion in 2026 at a CAGR of 13.6%.
The cancer tumor profiling market consists of sales of cancer tumor profiling technologies by entities (organization, partnership, sole traders) that refer to a laboratory test that examines a sample of tumor tissue for specific genes or gene mutations (changes), proteins, or other biomarkers.
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The Increase In Incidences Of Cancer Globally Is Driving The Growth Of The Cancer Tumor Profiling Market
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.
Competitive Landscape And The Regional Analysis Of The Cancer Tumor Profiling Market
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.
Additionally, as per TBRC’s research – North America was the largest region in the cancer tumor profiling market in 2021 holding the largest market share and Asia Pacific is expected to be the fastest-growing region in the forecast period.
The Cancer Tumor Profiling Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. 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. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the cancer tumor profiling market.
Increasing Research And Development Activities – A Key Trend In The Cancer Tumor Profiling Market
Major companies operating in cancer and tumor profiling sector are focused on research and development activities to meet consumer demand and reinforce their position.
Cancer Tumor Profiling Market Segmentation By The Business Research Company
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
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