Cancer/Tumor Profiling Market by Technology (Immunoassay, Next-generation Sequencing (NGS), Insitu Hybridization, Mass, Spectrometry, PCR, Microarray, and Others) by Biomarker Type (Genomic Biomarkers, and Protein Biomarkers), Cancer Type (Breast Cancer, Lung Cancer, Colorectal Cancer, and Others), and by Application (Research Application and Clinical Application) – Global Opportunity Analysis and Industry Forecast, 2024–2030
Cancer/Tumor Profiling Market was valued at USD 11.75 billion in 2023, and is slated to surpass USD 26.57 billion by 2030, owing to the advancement in technologies.
Cancer/ Tumor Profiling Market
Domain – Life Sciences & Healthcare
Sub Domain – Medical Devices
The Cancer /Tumor Profiling market size was valued at USD 11.75 billion in 2023 and is predicted to reach USD 26.57 billion by 2030, with a CAGR of 12.4% from 2024 to 2030.
The rise in global cancer incidents, due to malnutrition and unhealthy lifestyles, catalyzes the expansion of the market. For instance, the World Health Organization (WHO) in February 2022 declared cancer a leading global cause of death and recorded 10 million fatalities in 2020.
Additionally, the increasing prevalence of human papillomavirus (HPV), a significant contributor to cervical cancer, amplifies the demand for interventions. As of February 2022, the WHO reported cervical cancer as the fourth most prevalent cancer in women, with around 604,000 new cases and 342,000 deaths globally in 2020. This surge in cancer cases underscores the importance of advanced diagnostic tools, including tumor profiling, to comprehensively understand and treat the evolving cancer landscape. The growing necessity for precision medicine and personalized treatment plans becomes increasingly crucial in addressing the diverse genetic profiles of tumors, aligning with broader trends in the cancer or tumor Profiling market.
Moreover, the introduction of Liquid biopsy technologies is driving the growth of the cancer profiling market by providing a non-invasive and real-time approach to monitoring tumor dynamics. The ability to detect minimal residual disease and emerging mutations early allows for timely intervention, aligning with the trend toward early detection in cancer care. These technologies offer a comprehensive view of tumor heterogeneity, aiding in the development of personalized and targeted therapeutic strategies. The convenience and accessibility, provided by liquid biopsies contribute significantly to the increasing demand for cancer profiling services.
However, the high cost associated with implementing advanced profiling technologies restrains the growth of the Cancer/ tumor profiling market. On the contrary, the integration of the Artificial Intelligence (AI) into cancer or tumor profiling represents a transformative leap in healthcare, presenting numerous growth opportunities
Segment OverviewThe global Cancer/tumor profiling Market is segmented on the basis of technology, biomarker type, Cancer Type, Application, and region.
By technology the market is classified into immunoassay, next-generation sequencing (NGS), insitu hybridization, mass, spectrometry, PCR, microarray, and others.
By biomarker type, the market is segmented into genomic biomarkers and protein biomarkers.
By cancer type, the market is categorized into breast cancer, lung cancer, colorectal cancer, and others.
Region-wise, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world (RoW).
Regional AnalysisNorth America holds the dominant share of the market
North America holds the predominant market share in the field of Cancer or Tumor Profiling and is anticipated to maintain this dominance throughout the forecast period. The region experiences a rise in cancer cases due to elevated alcohol consumption and smoking habits, which in turn boost the market growth. In 2021, the United States alone witnessed 1.9 million new cancer diagnoses and 608,570 cancer-related deaths, as reported by the American Cancer Society.
The presence of key players such as Caris Life Sciences, Thermo Fisher Scientific Inc, Guardant Health, NeoGenomics Laboratories, and others further reinforces North America's significant position in the Cancer or Tumor Profiling market. These industry leaders, headquartered in North America, play a crucial role by providing state-of-the-art technologies, comprehensive molecular profiling services, and innovative diagnostic solutions. The robust infrastructure, substantial investments in research and development, and strategic collaborations within the region solidify North America as a central hub for advancements in cancer diagnostics and personalized medicine.
Key Market Players
The key players in the Cancer/tumor profiling Market include companies such as:• Lucence Health Inc.
• F. Hoffmann-La Roche Ltd
• Caris Life Sciences
• ACT Genomics Co., Ltd.
• Thermo Fisher Scientific Inc.
• Strand Life Sciences
• IMB Dx, Inc.
• Illumina, Inc.
• Guardant Health
• QIAGEN
• Ribomed Biotechnologies Inc.
• HTG Molecular Diagnostics, Inc.
• NanoString
• NeoGenomics Laboratories
• Exact Sciences Corporation
• Others
Recent DevelopmentsMay 2023
Lucence Health Inc. introduced its revolutionary multi-cancer early detection (MCED) blood test, LucenceINSIGHT. It is the first MCED test introduced globally, and is a ctDNA-based liquid biopsy test capable of screening for 10 common cancers in a single blood draw.
May 2023
Pfizer and Thermo Fisher Scientific Inc. collaborated to enhance local accessibility to next-generation sequencing (NGS)-based testing for individuals diagnosed with lung and breast cancer. This strategic agreement underscores a shared commitment to advancing cancer profiling capabilities, particularly in the context of NGS technologies, which play a pivotal role in molecular diagnostics for these prevalent cancer types.
June 2023
The European Confederation of Pharmaceutical Entrepreneurs (EUCOPE), in partnership with Exact Sciences, Guardant Health, Illumina, MSD, and Novartis, introduced the European Coalition for Access to Comprehensive Genomic Profiling (ECGP) within the cancer profiling market. The primary objective of this coalition is to elevate cancer care standards by advocating for heightened routine clinical access and reimbursement of CGP throughout Europe.
June 2022
Caris Life Sciences (Caris) introduced Caris Discovery a versatile discovery engine designed to combat cancer. This engine identifies new drug targets by combining unique capabilities, such as analyzing primary patient tissue and utilizing a proprietary aptamer-based proteomic profiling platform. Caris Discovery aims to contribute to the fight against cancer through innovative approaches to identifying potential therapeutic targets.
October 2021
F. Hoffmann-La Roche Ltd introduced the AVENIO Tumour Tissue Comprehensive Genomic Profiling (CGP) Kit, a novel genomic profiling tool that enables cancer researchers to analyze tumors locally, eliminating the need to send tissue samples to centralized laboratories. This kit was developed in collaboration with Roche Unit Foundation Medicine, a molecular information specialist whose products assist doctors in matching patients with suitable therapies and clinical trials.
KEY BENEFITS• The Cancer/tumor profiling market report provides a quantitative analysis of the current market and estimations from 2024 to 2030. This analysis assists in identifying the prevailing market opportunities.
• The study comprises a detailed analysis of the Cancer/tumor profiling market trends, including current and future trends to depict prevalent investment pockets in the market.
• The information related to key drivers, restraints, and opportunities and their impact on the Cancer/tumor profiling market is provided in the report.
• The competitive analysis of the market players along with their market share in the Cancer/tumor profiling market is provided in the report.
• The SWOT analysis and Porter’s Five Forces model are elaborated in the report.
• The value chain analysis in the market study provides a clear picture of the role of stakeholders.