LONDON--(BUSINESS WIRE)--The global tumor (cancer) profiling market is expected to grow by USD 4.85 billion during 2020-2024, progressing at a CAGR of over 10% during the forecast period. The growth of the market can be attributed to the increasing incidences of cancer. Furthermore, the rising importance of genomics in therapeutics will positively impact the tumor profiling market during the forecast period. Request a free sample report
Read the 162-page report with TOC on “Tumor Profiling Market Research Report by Technology (Immunoassays, Next generation sequencing, Polymerase chain reaction, and In-situ hybridization), Geography (Asia, Europe, North America, and ROW), and the Segment Forecasts, 2020-2024”.
Tumor Profiling Market Technology Outlook (Revenue, USD Million, 2020-2024)
- Next generation sequencing
- Polymerase chain reaction
- In-situ hybridization
Next generation sequencing (NGS) is expected to grow faster than the overall market during 2020-2024. Tumor profiling using NGS enables the analysis of a select set of genes, gene regions, or amplicons based on their involvement with tumors. This targeted approach delivers high sensitivity to the identification of rare mutations and tumor subclones, providing amplified visibility of important driver mutations in cancer. NGS offers a comprehensive method for evaluating most genes, coupled with solid tumors, including lung, colon, breast, and ovarian cancers. Moreover, the launch of assay tests, which involve tumor profiling for the analysis of tumor mutational genes will contribute to the growth of the market. For instance, in June 2018, Thermo Fisher expanded the Oncomine TCR Beta-SR assay, which is designed to describe the T-cell clonality in the tumor microenvironment. It is a key approach to detect potential biomarkers related to immune response. Thus, these factors are expected to contribute to market growth during the forecast period.
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Tumor Profiling Market Regional Outlook (Revenue, USD Million, 2020-2024)
- North America
North America will be the largest geographical segment of the global tumor profiling market in 2020-2024. The market dominance of this region can be attributed to the increasing prevalence of various cancers, rising awareness about cancer, and the availability of favourable reimbursement policies in the region. As North America is one of the most developed regions in the world, the market witnesses the availability of various targeted therapies for cancers. Moreover, several vendors such as Abbott Laboratories and Roche present in North America are providing patient assistance programs such as co-pay assistance programs to reduce the cost burden on patients. These factors will contribute to the market dominance of the region throughout the forecast period.
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Major Five Tumor Profiling Companies:
Abbott Laboratories operates the business under various segments such as Established Pharmaceuticals, Nutritionals, Diagnostics, Cardiovascular and Neuromodulation, and Others. Some of the products offered by the company are PathVysion HER-2 DNA Probe Kit II and Vysis ALK Break Apart FISH Probe Kit.
Agilent Technologies Inc.
Agilent Technologies Inc. operates the business under three segments, which include Life Sciences and Applied Markets; Diagnostics and Genomics; and Agilent CrossLab. The company’s key offering includes SureSelect Cancer All-In-One Custom NGS Assays.
Becton, Dickinson and Co.
Becton, Dickinson and Co. has business operations under various segments, namely BD medical, BD life sciences, and BD interventional. The product offered by the company is BD Onclarity HPV Assay.
bioMérieux SA operates the business under its unified business segment. The company’s key offering includes the Bio-Plex Pro Human Cancer Biomarker Assays.
Bio-Rad Laboratories Inc.
Bio-Rad Laboratories Inc. operates the business under the following segments: life science and clinical diagnostics. The company’s key offerings in the tumor profiling market include THXID-BRAF.
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