$13.92 Bn Cancer/Tumor Profiling Market by Technology, Cancer Type, Biomarker Type, Application and Region - Global Forecast to 2025 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Cancer/Tumor Profiling Market by (Technology (Immunoassay, NGS, PCR, In-Situ Hybridization, Microarray), Cancer Type (Breast, Lung, Colorectal, Prostate, Melanoma)), Biomarker Type (Genomic, Protein), Application, Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global cancer/tumor profiling market is projected to reach USD 13.92 billion by 2025 from USD 8.3 billion in 2020, at a CAGR of 10.9% during the forecast period.

Factors such as the increasing incidence of cancer, increasing demand for personalized medicine, increasing the use of biomarkers in cancer profiling, increasing cancer research and funding, and technological advancements in the field are expected to drive the growth of the cancer/tumor profiling market. However, poor regulatory and reimbursement scenario serves as a major challenge for the industry.

By technology, the next-generation sequencing segment holds the highest market share during the forecast period.

Based on technology, the cancer/tumor profiling market is segmented into immunoassays, in situ hybridization, next-generation sequencing (NGS), polymerase chain reaction (PCR), mass spectrometry, microarrays, and others. The immunoassays segment held the highest market share in 2019. The high market share of this segment can be attributed to the wide adoption of these assays as it is the gold standard to measure the presence and concentration of analytes in a sample.

Based on cancer type, the lung cancer segment is expected to register the highest CAGR during the forecast period.

Based on cancer type, the cancer/tumor profiling market is segmented into breast cancer, lung cancer, colorectal cancer, prostate cancer, melanoma, and others. The lung cancer segment is projected to register the highest CAGR during the forecast period. The significant growth in lung cancer is attributed to the high incidence rate of lung cancer and the increasing need for early diagnosis.

By biomarker type, the genetic biomarker segment holds the highest market share during the forecast period.

Based on biomarker type, the cancer/tumor profiling market is segmented genetic biomarkers, protein biomarkers, and other biomarkers. The genetic segment held the highest market share in 2019. The high market share of this segment can be attributed to the high adoption of these biomarkers during cancer diagnosis and prognosis and in the biomarker discovery process.

By application type, the research application segment holds the highest market share during the forecast period.

Based on cancer type, the cancer/tumor profiling market is segmented research and clinical applications. The research application segment held the highest market share in 2019. The high market share of this segment can be attributed to the increasing focus on biomarker discovery for drug development along with the rapidly growing field of personalized medicine. Additionally, the increased funding for cancer research is propelling the growth of the market.

By Region, The Asia Pacific region holds the highest market share during the forecast period.

The Asia Pacific holds the highest market share during the forecast period (2020 to 2025). Rapidly incidence of cancer, growing proteomics and genomics research, increasing research funding, rising investments by pharmaceutical and biotechnology companies, and growing awareness about personalized therapeutics in several APAC countries, are supporting the growth of the cancer/tumor market in the Asia Pacific region.

Market Dynamics

Drivers

• Increasing Incidence of Cancer
• Increasing Use of Biomarkers in Cancer Profiling
• Increasing Cancer Research and Funding
• Technological Advancements

Restraints

• High Capital Investment
• Technical Issues With Sample Collection and Storage

Opportunities

• Increasing Demand for Personalized Medicine
• Growing Need for Point-of-Care Diagnostics

Challenges

• Low Biomarker Discovery-to-Approval Ratio
• Poor Regulatory and Reimbursement Scenario

Trends

• Integration of Omics Data
• Advances in Liquid Biopsy
• Organoids for Personalized Medicine

COVID-19's Impact on the Cancer/Tumor Profiling Market

Companies Profiled

• Agendia
• Boreal Genomics Inc.
• Caris Life Sciences
• F. Hoffmann-La Roche Ltd.
• Foundation Medicine
• Genscript Biotech Corporation
• Guardant Health, Inc.
• Helomics Corporation
• Histogene X
• Hologic, Inc.
• Htg Molecular Diagnostics, Inc.
• Illumina, Inc.
• Nanostring Technologies, Inc.
• Neogenomics, Inc.
• Omniseq
• Perthera
• Qiagen N.V.
• Ribomed Biotechnologies, Inc.
• Sysmex Corporation
• Tempus Labs

For more information about this report visit https://www.researchandmarkets.com/r/jimelb