Cancer Profiling Market: Introduction
Cancer profiling is an alternative to all traditional approaches to cancer treatment. It uses a focused personalized approach to a treatment that specifically targets an individual patient's tumor. Laboratory tests are carried to identify certain genes or gene mutations (changes), proteins, or other biomarkers in a sample of tumor tissue in order to provide a better, personalized treatment to the cancer patient.
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Key Drivers and Restraints of Global Cancer Profiling Market
- Rise in incidence rate of cancer worldwide is the major factor driving the market. Cancer is one of the leading causes of death, globally, after cardiovascular diseases. According to the World Health Organization (WHO), cancer accounts for 8.3 million deaths each year, with 70% new cancer cases expected to be reported over the next 20 years. Increase in cancer afflicted population is anticipated to be a key driver of the market. According to a Centers for Disease Control and Prevention (CDC) report in 2014, the number of cancer patients diagnosed in the U.S. reached approximately 21 million. This number is estimated to reach 25.4 million by the end of 2024. Rising cancer cases boost the demand for early diagnosis or profiling of cancer, which ultimately fuels the market.
- Government funding for continuing research in tumor or cancer diagnostics and profiling is another major factor driving the market. Governments in developed and developing countries are conducting awareness campaigns to encourage people to opt for early diagnosis of cancer in order to reduce mortality and morbidity rate. This, in turn, is projected to boost the cancer profiling market during the forecast period. In April 2016, the U.S. Government assigned US$ 5.2 Bn for the National Cancer Institute (NCI). The budget was improved by 5.3% in comparison with the previous year. NCI conducts clinical trials on cancer patients who require repetitive diagnosis to check the prognosis of cancer.
- Technical issues with sample collection and storage is a key factor that is anticipated to hamper the market. Stringent quality control of these samples is required, and they need to be stored under the right conditions in order to prevent loss.
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Next Generation Sequencing Segment to Expand Significantly
- Based on technology, the global cancer profiling market can be divided into: immunoassays, next generation sequencing, polymerase chain reaction, in situ hybridization, microarrays, mass spectrometry, and others
- The immunoassays segment, which includes immunohistochemistry, dominated the global cancer profiling market in 2019, followed by the next generation sequencing segment. Immunoassay is a conventional test that can detect changes at the protein level that occur not only from gene aberrations, most commonly gene amplifications, but also from specific DNA rearrangements or point mutations.
- The next generation sequencing segment is estimated to expand at a significant growth rate during the forecast period. Advances in sequencing technologies, such as whole genome sequencing, have facilitated the simultaneous detection of single nucleotide variants (SNV), copy number variations, and structural rearrangements, such as gene fusions, leading to greater diagnostic yield of actionable findings in tumor samples.
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Breast Cancer Segment to Dominate Global Cancer Profiling Market
- Based on cancer type, the global cancer profiling market can be segmented into: breast cancer, lung cancer, prostate cancer, melanoma, and others
- The most commonly diagnosed cancers are prostate in males and breast in females, while lung cancer remains the most common cause of cancer death in both sexes. The breast cancer segment accounted for a major share of the global cancer profiling market, in terms of revenue, in 2019, followed by lung cancer. Rising prevalence of breast cancer across the globe is the major factor fueling the market. According to WHO, in 2018, 627,000 women were estimated to have died from breast cancer, i.e., approximately 15% of all cancer deaths among women.
- On the other hand, the lung cancer segment is estimated to expand at a notable CAGR during the forecast period majorly due to an increase in incidence and need for early diagnosis
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Protein Biomarker Witness Highest Growth
- Based on biomarker type, the global cancer profiling market can be divided into: genetic biomarkers, protein biomarkers, and others
- Biomarkers are molecules that indicate normal or abnormal process taking place in the body and may be a sign of an underlying condition or disease. The genetic biomarkers segment held a significant share of the global cancer profiling market in 2019. Tumor-specific genetic changes, such as promoter methylation, gene mutations, or circulating small RNAs, are easily detected by genetic biomarkers.
- However, protein biomarkers hold a strong opportunity to be converted into clinical diagnostic tests. Protein-based immunoassay is a quite rapid and efficient process. Novel proteomic biomarker discovery technologies are being developed using quantitative isotopic labeling, improved mass spectroscopy algorithms, and addressing the problems of sample preparation.
Research Application is estimated to dominate the Global Cancer Profiling Market
- Based on application, the global cancer profiling market can be divided into research application and clinical application
- In terms of revenue, the research application segment accounted for a major share of the market in 2019. Various novel molecular characterization strategies beyond tumor DNA sequencing, such as transcriptomics, immunophenotyping, epigenetic profiling, and single-cell analyses are presently being utilized in cancer or tumor profiling process. Extensive research in technological developments has made a molecular profiling analysis possible, which enables doctors to distinguish molecular differences between cancer cells and healthy cells. Additionally, rise in funding for cancer research is further propelling the market.
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North America to Dominate Global Cancer Profiling Market
- In terms of region, the global cancer profiling market can be divided into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- In terms of revenue, North America dominated the cancer profiling market. Increase in incidence of cancer diseases, rising investment in research & development of cancer diagnostics, and continuous mergers & acquisitions between companies contribute to the leading share held by the region. Cancer is a leading cause of death in Canada, and the second-leading cause, after heart disease, in the U.S. According to American Cancer Society approximately 1.9 million new cancer cases and 693,000 cancer deaths were estimated to have occurred in North America in 2018.
- The market in Asia Pacific is projected to expand at a notable CAGR during the forecast period. Focus of local players on enhancing their presence in rural areas of emerging regions of the market, such as India, is increasing. Moreover, demand for efficient diagnosis for various cancers is high. These factors are expected to drive the cancer profiling market in Asia Pacific during the forecast period.
Key Manufacturers Operating in Market
The global cancer profiling market was highly fragmented in 2019. Key manufacturers operating in the global market are:
- Illumina, Inc.
- Qiagen N.V.
- Neogenomics Laboratories Inc.
- HTG Molecular Diagnostics, Inc.
- Genomic Health Inc.
- Caris Life Sciences
- Helomics Corporation
- NanostringTechologies
- Oxford Gene Technology
- Ribomed Biotechnologies, Inc.
- GenomeDX
- Guardant Health
- Foundation Medicine
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With a multi-disciplinary approach, Fact.MR elaborates an extensive analysis of the historical, current and future outlook of the global cancer profiling market as well as the factors responsible for such a growth.
Our highly dedicated professionals have inputted critical and accurate insights associated with every industry, and region by doing thorough primary and secondary research.We leverage space-age industrial and digitalization tools to provide avant-garde actionable insights to our clients regarding the cancer profiling market.
For enhancing readers’ experience, the report starts with a basic overview about the cancer profiling market and its classification.Competitive Assessment The cancer profiling market report includes global as well as emerging players:Qiagen N.V.Roche Molecular Systems INC.Abbott LaboratoriesSiemens AGNeogenomics LaboratoriesIllumina, Inc.HTG Molecular DiagnosticPerkinElmer Inc.Genomic Health INC.Nanostring Technologies, Inc.BioGenexThermo Fisher Scientific Inc.Pacific BiosciencesAgilent Technologies, Inc.The insights for each vendor consists of:Company profileSWOT analysisMain market informationMarket shareRevenue, pricing and gross marginRequest Sample Report - https://www.factmr.com/connectus/sample?flag=S_id=358Regional Analysis Important regions covered in the cancer profiling market report include:North America (U.S., Canada)Latin America (Brazil, Mexico)Europe (Germany, U.K.)APEJ (China, India)The cancer profiling market report also provides data regarding the key countries in the defined regions.Segmentation AnalysisBy Product:InstrumentsConsumablesBy Indication:Breast CancerColorectal CancerOvarian CancerMelanomaKidney CancerLung Cancer (including NSCLC)Rare CancersWhat insights does the cancer profiling market report provide to the readers?Cancer profiling market fragmentation on the basis of product type, end use, and region.Comprehensive assessment of upstream starting materials, downstream demand, and present market landscape.Collaborations, R projects, acquisitions, and product launches of each cancer profiling market player.Various regulations imposed by the governments on the consumption of cancer profiling market in detail.Impact of modern technologies, such as big data & analytics, artificial intelligence, and social media platforms on the global cancer profiling market.Questionnaire answered in the cancer profiling market report include:What is the present and future outlook of the global cancer profiling market on the basis of region?What are the challenges and opportunities for the cancer profiling market?Why the consumption of cancer profiling market highest in region?In which year segment is expected to overtake segment?Request Research Methodology - https://www.factmr.com/connectus/sample?flag=RM_id=358And many more …
A business intelligence report on the global Cancer Profiling market offers quantitative estimation of the opportunities and qualitative assessment various growth dynamics.
The study highlights estimations of the opportunities in the historical period, and offers several projections during the forecast period.The following are taken into consideration:Historical Period: 2013 – 2017Forecast Period: 2018 to 2028Request to View Sample of Research Report @ https://www.factmr.com/connectus/sample?flag=S_id=358Key Focus Areas of Report on Global Cancer Profiling MarketThe study on the Cancer Profiling market includes detailed market estimations of opportunities in various segments and their share/size globally in each year during the forecast period.
The following are the broad insights that form the backbone of the evaluation of the Cancer Profiling market.Detailed segmentation to at least two levels based on various parameters that include region, end user/application, and product/technology/service type/modelCurrent valuation of all the key segmentsProjected CAGR of the key segments from 2018 to 2028Qualitative analyses of the growth trajectory of the Cancer Profiling market year-over-year; these include scrutiny of the key growth dynamics: drivers, restraints, winning imperatives for players, challenges, and opportunitiesProfile of prominent players in the Cancer Profiling marketStrategies and Recent Moves made by them to consolidate their positionsCOVID-19 disruptions in macroeconomic dynamics that will shape the future contours of the market dynamicsAttractiveness of key product/technology segmentsSegmental Analysis Comprise the following.Based on Product/Technology,Breast CancerColorectal CancerOvarian CancerMelanomaKidney CancerBased on Region,North AmericaLatin AmericaEuropeJapanAPEJMEATop players includeIllumina IncQIAGENThermo Fisher Scientific IncAbbottNanostring Technologies IncSiemens AGHTG Molecular Diagnostics, IncWhat Businesses Can Hope to Get in Business Intelligence on Cancer Profiling Market?The study insights on the Cancer Profiling market growth dynamics and opportunities highlights various key aspects, in which crucial ones are:Which are the technology and strategic areas that emerging, new entrants, and established players should focus on keep growing in the industry-wide disruptions that COVID-19 has caused?Which new avenues bear incredible potential during the ongoing COVID-19 lockdown restrictions?Which policies by governments can give the top stakeholders support their efforts of consolidation?What new business models are gathering pace among companies to remain agile in post-COVID-era?Which segments will see a surge in popularity in near future, and what calibrations players need to make to utilize the trend for an elongated period?To Know More Information about This Report, Ask The Analyst @ https://www.factmr.com/connectus/sample?flag=AE_id=358Insights and Perspectives that make this Study on Cancer Profiling Market Stand OutThe analysts who have prepared the report have been keen observers of the dynamism due to macroeconomic upheavals.
Using the best industry assessment quantitative methods and data integration technologies, they have come out with a holistic overview of the future growth trajectories of the Cancer Profiling market.
Fact-based insights and easy-to-comprehend information based on wide spectrum of market data is what makes this study different from competitors.The following evaluations create a differentiating approach towards understanding the market dynamics and presenting the crux to its readers:The analysts harness rigorous statistical analytical tools combined with their expertise to identify imminent investment pockets in various regions and in various technology segments.The study offers a broad framework for businesses to assess the change in policies on their internal growth dynamics.The study strives to offer a multi-dimensional and inter-industry evaluation of the market impacts on recent mergers and acquisitions, deals and partnerships, and venture funding.The analysts have presented this information in easy-to-understand formats.About Fact.MRFact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports.
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