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How Has the Genomic Cancer Panel And Profiling Market Grown from 2024 to 2025?
The market size for genomic cancer panel and profiling has seen significant growth in the past years. It is projected to increase from a value of $9.47 billion in 2024 to $10.31 billion in 2025, reflecting a compound annual growth rate (CAGR) of 8.9%. The growth witnessed in the previous years is due to factors such as the global increase in cancer cases, greater usage in clinical investigations, development of diagnostic facilities, increased understanding of genetic testing, and a rise in governmental and research grants.
What Growth Rate Is Anticipated for the Genomic Cancer Panel And Profiling Market in the Coming Years?
The market for genomic cancer panel and profiling is projected to witness substantial growth in the coming years, reaching $14.37 billion in 2029 with a compound annual growth rate (CAGR) of 8.7%. This growth during the predicted period can be accredited to factors such as enhancements in liquid biopsy applications, increased early detection uses, tailored therapy advancements, and a rise in the approval of companion diagnostics. The forecast period is also likely to witness key trends like the employment of AI and machine learning for interpreting genomic data, the advent of multi-omics methodologies, cloud-based storage and analysis for genomic data, integration with electronic health records, and the growth of next-generation sequencing (NGS) platforms.
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Who Are the Leading Companies in the Genomic Cancer Panel And Profiling Market?
Major companies operating in the genomic cancer panel and profiling market are Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc., Agilent Technologies Inc., Hologic Inc., Illumina Inc., Sysmex Corporation, QIAGEN N.V., Exact Sciences Corporation, ARUP Laboratories, Tempus Labs, Genscript Biotech Corporation, NeoGenomics Inc., Foundation Medicine, Invitae Corporation, Guardant Health Inc., Caris Life Sciences, Fulgent Genetics, NanoString Technologies Inc., Genecast Biotechnology Co. Ltd, Burning Rock DX, HTG Molecular Diagnostics Inc., Predictive Oncology Inc.
What Are the Key Drivers of the Genomic Cancer Panel And Profiling Market?
The expected increase in cancer incidences is anticipated to accelerate the expansion of the genomic cancer panel and profiling sector. Cancer, a condition defined by unchecked growth of irregular cells in the body, is becoming more prevalent due to factors such as an aging population. As life expectancy increases, so does the vulnerability to develop cancer. Genomic cancer panels and profiling contribute to cancer management by identifying genetic variations and biomarkers. This allows for tailored treatment strategies and enhances the ability to detect and monitor the illness early. For instance, the American Cancer Society, a U.S.-based nonprofit, reported that in 2022, the number of new cancer cases worldwide was around 20 million, causing a total of 9.7 million deaths; the global burden of cancer, mainly driven by population growth, is estimated to increase to 35 million cases by 2050. As such, the escalating incidences of cancer will act as a catalyst for the growth of the genomic cancer panel and profiling sector.
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What Are the Key Market Segments in the Genomic Cancer Panel And Profiling Industry?
The genomic cancer panel and profiling market covered in this report is segmented –
1) By Tissue Testing: Solid Tissue Testing, Liquid Tissue Testing
2) By Technology: Next-Generation Sequencing (NGS), Polymerase Chain Reaction (PCR), Fluorescence In-Situ Hybridization (FISH), Immunohistochemistry (IHC), Other Technologies
3) By Cancer Panel Type: Single-Gene Panel, Multi-Gene Panel
4) By Application: Clinical, Research
5) By End User: Hospitals, Research And Academic Institutes, Clinical And Diagnostic Laboratories, Other End Users
Subsegments:
1) By Solid Tissue Testing: Biopsy Samples, Surgical Resection Samples, Formalin-Fixed Paraffin-Embedded (FFPE) Tissues, Fresh Frozen Tissues
2) By Liquid Tissue Testing: Blood, Urine, Saliva, Cerebrospinal Fluid (CSF), Other Bodily Fluids
What Are the Latest Trends in the Genomic Cancer Panel And Profiling Market?
Leading corporations in the field of genomic cancer panel and profiling are shifting their focus towards technological innovation, like next-generation sequencers – to enhance the precision, velocity, and inclusiveness of cancer diagnoses, which will allow for more customized treatment options. As advanced DNA sequencing technologies, next-generation sequencers provide quick and abundant analysis of genetic data to determine mutations, discrepancies, and other genomic characteristics. For instance, QIAGEN N.V., a biotechnology firm based in the Netherlands, introduced the QIAseq panels in April 2025. These are designed for the next-generation of sequencers, to facilitate comprehensive genomic profiling through the analysis of more than 700 genes. These panels are tailored to suit both research and clinical needs, with the goal of improving cancer diagnosis and treatment methods.
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What Are the Key Regional Markets in the Genomic Cancer Panel And Profiling Industry?
North America was the largest region in the genomic cancer panel and profiling market in 2024. The regions covered in the genomic cancer panel and profiling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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This Report Delivers Insight On:
1. How big is the genomic cancer panel and profiling market, and how is it changing globally?
2. Who are the major companies in the genomic cancer panel and profiling market, and how are they performing?
3. What are the key opportunities and risks in the genomic cancer panel and profiling market right now?
4. Which products or customer segments are growing the most in the genomic cancer panel and profiling market?
5. What factors are helping or slowing down the growth of the genomic cancer panel and profiling market?
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