Cancer/Tumor Profiling Market

Industry Overview

The global Cancer/Tumor Profiling Market is expected to grow from USD 10.1 billion in 2023 to USD 22.26 billion by 2030 at a compound annual growth rate (CAGR) of 9.75% during the forecast period ranging from 2025 to 2030.

Cancer/tumor profiling is a method that helps in categorizing tumors more precisely. It helps in identification of genomic alteration and provides more accurate and specific information about clinical outcomes of cancer. It aids in analysis at molecular level, which helps physician to achieve appropriate therapeutic decisions. Cancer/tumor profiling allows extensive analysis of tumor and study of the genetic characteristics through various methods such as, next-generation sequencing (NGS), polymerase chain reaction (PCR), in situ Hybridization (ISH), immunohistochemistry (IHC), microarray, and others. The information obtained through cancer profiling is utilized in designing an appropriate therapeutic treatment for any individual suffering from cancer.

Cancer/tumor profiling has gained importance over the years because it provides useful information related to cancer tumor. Also, the rise in incidence of cancer across the globe has fueled the demand for molecular profiling techniques for cancer identification. In addition, increase in awareness related to different types of cancers, such as breast cancer, oral, and pancreatic, among others supplement the growth of the global cancer/tumor profiling market at significant rate.

Higher investment requirement for the assets and lack of skilled professionals to operate the systems along with the lack of proper infrastructure are also hindering the growth of the cancer/tumor profiling market. Strict regulatory standards and a huge amount of complex genetic data generation during tumor profiling and inability to interpret the data accurately are the main causes of hindrance to the growth of the global cancer/tumor profiling market. The emerging markets with improving healthcare infrastructure and integration of tumor profiling data with Electronic Health Records (EHR) systems is offering easier data accessibility and streamlining clinical workflows and improving patient outcomes, thereby creating opportunities for market expansion.

Market Segmentation

Insight by Technology

The global cancer/tumor profiling market is divided on the basis of technology into immunoassays, next generation sequencing, hybridization, mass spectrometry and other technologies. Out of them, the next generation sequencing segment is expected to witness the highest growth worldwide during the forecast period due to rise in the number of new cancer cases, innovations in sequencing technologies, extensive variety of applications, and inclination for personalized medicines. In addition, the immunoassays segment will also account for the largest share in the market due to high sensitivity, technological improvements, and cost-effectiveness. PCR, a section of the hybridization segment, is estimated to account largest share due to its cost-effectiveness, easiness of use, rapid turnaround time, and effortless accessibility of kits and reagents.

Insight by Cancer Type

The global cancer/tumor profiling market is divided on the basis of types of cancer into colorectal cancer, breast cancer, melanoma cancer, lung cancer, prostate cancer, and others cancers. The growing occurrence of breast cancer, higher research emphasis on breast cancer, and increasing awareness about breast cancer diagnosis are some of the factors responsible for the growth of the breast cancer segment.

Insight by Application

The global cancer/tumor profiling market is divided on the basis of application into clinical application and research application, where the latter is expected to grow at fastest rate during the forecast period due to better outcome of therapeutic interferences & drug-induced toxicity and higher focus of the companies on the usage of biomarkers as biological indicators for the improvement of diseases.

Insight by Biomarker Type

The global cancer/tumor profiling market is divided on the basis of biomarker types into genomic biomarker and protein biomarker. Out of these two segments, the protein biomarker segment is expected to grow at a high CAGR during the forecast period due to higher usage. However, the genomic biomarker segment is also expected to hold the largest market share during the forecast period due to the high adoption of these biomarkers during cancer detection and diagnosis and in the development process for biomarkers.

Global Cancer/Tumor Profiling Market Report Coverage

Industry Dynamics

Industry Trends

The key trends noticed in the cancer/tumor profiling market include a notable surge in personalized medicine and rise of precision oncology, higher emphasis on early detection and significant improvements in treatment success rates, growing incidence of cancer due to lifestyle changes and population aging, and growing awareness about cancer and its treatment options.

Growth Drivers

The accessibility of finance for cancer research, increasing demand for accurate diagnosis of cancer in early stages, and the initiation and implementation of point-of-care diagnostic tests, along with the growing awareness of cancer by many private and public organizations and increasing demand for next generation sequencing for cancer profiling and improvement of personalized medicine are facilitating the growth for the cancer/tumor profiling market. Furthermore, advancements in tumor profiling technologies and a comprehensive understanding of a tumor’s genetic makeup allowing researchers and clinicians to identify potential drug targets and develop more effective therapies are also contributing to the growth of the market. Also, the target approach and the rising shift towards personalized medicine and growing government support and funds for research and development in this field as well as the rising acknowledgment of the potential of tumor profiling are fostering a more friendly market environment for tumor profiling services. It is also attributed to the escalating number of cancer cases and rising efficacy of biomarkers in tumor profiling, the growing demand for immunoassays over the last few years due to technological improvements, and its cost-effectiveness.

Challenges

The low advantage of biomarkers and the inaccurate governing and compensation scenario are the main challenges for the growth of the global cancer/tumor profiling market. Difficulty in ensuring consistency across different platforms and labs, lack of standardized data analysis methods, and reimbursement challenges to cover cost from insurance companies as well as the high cost of profiling tests and the evolving nature of this field pose significant challenges to the growth of the market.

Opportunities

Growth opportunities to the market is however offered by the advancements in precision medicine and emphasis on personalized treatment approaches, growing incidence of cancer especially in developing countries, technological innovations in genomic sequencing, expansion of biomarker research, increased investment in research and development by pharmaceutical companies and research institutions, growing awareness and adoption by healthcare providers and patients, supportive government policies, initiatives, grants, and funding, and collaborations and partnerships between academic institutions, research organizations, and biotechnology companies.

Geographic Overview

North America is the largest contributor to the cancer/tumor profiling market due to the rising number of cancer cases in the region. In addition, increasing research and funding for cancer, higher technological adoption for treatment of cancer, and presence of major leading players in the region are also fueling the North American market.

The Asia-Pacific market will observe fastest growth in the forecast period due to the large population base, growing occurrence of cancer, rising number of contract research organizations (CROs), higher requirement for improved healthcare services in developing economies, and growing emphasis of international players in emerging markets.

Competitive Insight

Key players in the market are catering the demand of these devices by investing on technologically advanced products in their product portfolio across the globe. Illumina, Inc., Genomic Health Inc., Qiagen N.V., Oxford Gene Technology, Caris Life Sciences, Neogenomics Laboratories, Inc., HTG Molecular Diagnostics, Inc., Helomics Corporation, Nanostring Technologies, Inc. and Ribomed Biotechnologies, Inc. are the key players offering cancer/tumor profiling.

Illumina, Inc. is an American biotechnology company, headquartered in San Diego, California. Company develops, manufactures and markets integrated systems for the analysis of genetic variation and biological function.

Genomic Health, Inc. was a company focusing on genetic research specifically in cancer detection, based out of Redwood City, California. It is the world's leading provider of genomic-based diagnostic tests that help optimize cancer care.

Recent Developments by Key Players

Qiagen launched a new version of its clinical decision support software, QIAGEN Clinical Insight Interpret (QCI Interpret), which brings significant performance and scalability enhancements for high-throughput, next-generation sequencing (NGS) labs moving to larger test panels and higher test volumes. The improvements accelerate the critical lab performance criteria for turnaround time, diagnostic yield and quality results.

Caris Discovery, the therapeutic research arm of Caris Life Sciences (Caris), the leading next-generation AI TechBio company and precision medicine pioneer has  partnered with Merck KGaA, Darmstadt, Germany, which operates its healthcare business as EMD Serono in the U.S. and Canada, to accelerate the discovery and development of first-in-class antibody-drug conjugates (ADC) for cancer patients.

The Cancer/Tumor Profiling Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.

Segments Covered in the Report

• By Technology
  • Immunoassays
  • Next Generation Sequencing
  • Hybridization
  • Mass Spectrometry
  • Other
• By Cancer Type
  • Colorectal Cancer
  • Breast Cancer
  • Melanoma Cancer
  • Lung Cancer
  • Prostate Cancer
  • Others
• By Application
  • Clinical
  • Research

Region Covered in the Report

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia-Pacific (APAC)
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
• Rest of the World (RoW)
  • Brazil
  • Saudi Arabia
  • South Africa
  • U.A.E.
  • Other Countries

Source: VynZ Research

Source: VynZ Research