CancerTumor Profiling Market
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Cancer/Tumor <strong>Profiling</strong> <strong>Market</strong><br />
to Reach $87.1 Billion By 2023<br />
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Cancer/Tumor <strong>Profiling</strong> <strong>Market</strong><br />
Global cancer/tumor profiling market size is projected to achieve a value of $87.1<br />
billion value by 2023, growing at a CAGR of 19.0% during 2017-2023.<br />
The boost in demand for cancer/tumor profiling products is mainly led by increasing<br />
number of new cancer cases, rising utility of biomarkers in tumor profiling, rising<br />
availability of funding for cancer research and increasing demand for next generation<br />
sequencing for cancer profiling.<br />
Access Report Summary with Detailed TOC on "Cancer/Tumor <strong>Profiling</strong> <strong>Market</strong> by<br />
Technology (Next Generation Sequencing (NGS), Quantitative Polymerase Chain Reaction<br />
(QPCR), Immunohistochemistry (IHC), In-situ Hybridization (ISH), Microarray), by Technique<br />
(Genomics, Proteomics, Epigenetics, Metabolomics), by Application (Personalized Medicine,<br />
Diagnostics, Biomarker Discovery, Prognostics), by Geography (U.S., Canada, Germany, U.K.,<br />
France, Japan, China, Brazil, Mexico) – Global <strong>Market</strong> Size, Share, Development, Growth and<br />
Demand Forecast, 2013-2023" at: https://www.psmarketresearch.com/marketanalysis/cancer-profiling-market
Cancer/Tumor <strong>Profiling</strong> <strong>Market</strong><br />
Insights on market segments<br />
The cancer profiling market has been bifurcated into next generation<br />
sequencing (NGS), quantitative polymerase chain reaction (QPCR),<br />
immunohistochemistry (IHC), in-situ hybridization (ISH), and microarray,<br />
based on technology. NGS held the largest share in the cancer profiling<br />
market, standing at 33.1%, in 2016. This leading position of NGS is mainly<br />
characterized by increased awareness about NGS products due to rising<br />
promotional activities for these products among the research laboratories<br />
and academic institutes. The NGS category is also expected to grow at the<br />
highest CAGR during the forecast period.<br />
ISH is further categorized into fluorescent in situ hybridization (FISH) and<br />
chromogenic in situ hybridization (CISH). FISH held the larger share of the<br />
ISH technology market in 2016. The higher penetration of this technology is<br />
driven by increasing number of players offering FISH in cancer profiling<br />
market, such as Abbott Laboratories. FISH is also expected to observe the<br />
faster growth in future, with the CAGR likely to stand at 18.6% during the<br />
forecast period.
Cancer/Tumor <strong>Profiling</strong> <strong>Market</strong><br />
The various techniques used in the cancer profiling include genomics,<br />
proteomics, epigenetics, and metabolomics. Genomics held the largest<br />
share of 40.6% in 2016, and it is also expected to register highest growth<br />
during the forecast period, due to increasing implementation of genomic<br />
sequencing.<br />
Cancer profiling is used in varied applications such as personalized<br />
medicine, diagnostics, biomarker discovery, prognostics, and others. In<br />
2016, personalized medicine held largest share of 36.4% in the cancer<br />
profiling market, attributed to subsequent increasing adoption of<br />
personalized medicine for tumor profiling, since it is one of the most costeffective<br />
methods. The application is also expected to register fastest<br />
growth during the forecast period.
Cancer/Tumor <strong>Profiling</strong> <strong>Market</strong><br />
Asia-Pacific is projected to register the fastest<br />
growth in cancer/tumor profiling market<br />
The Asia-Pacific cancer profiling market has been experiencing significant<br />
growth due to rising prevalence of cancer, increasing government initiatives<br />
for cancer treatment, and rising healthcare expenditure in the region.<br />
According to the Indian Council of Medical Research (ICMR), around 14.5<br />
lakhs of new cancer cases were registered in India in 2016, which is likely to<br />
reach nearly 17.3 lakh new cases, by 2020. This increase in cancer cases<br />
indicates that, the healthcare providers will require more profiling kits, thus<br />
increasing the demand for cancer/tumor profiling kits in the region.
Cancer/Tumor <strong>Profiling</strong> <strong>Market</strong><br />
Key competitors are introducing new and<br />
innovative products cancer/tumor profiling market<br />
Globally, the key providers in the cancer profiling market are launching new<br />
products to gain a larger market share. In October 2017, QIAGEN N.V.<br />
launched custom solutions business, aimed at providing life sciences and<br />
molecular diagnostics companies with the tools and expertise required to<br />
quickly build and commercialize products that meet unique workflow<br />
requirements. In the same month, the company also launched ipsogen JAK2<br />
RGQ PCR kit, an ipsogen JAK2 assay, an assay used for the detection of the<br />
JAK2 V617F/G1849T allele in genomic DNA extracted from EDTA whole<br />
blood.<br />
Some of the other key players operating in the cancer profiling market<br />
include Illumina, Inc., NeoGenomics Inc., Caris Life Sciences, Inc., Helomics<br />
Corp., Oxford Gene Technology, HTG Molecular Diagnostics, Inc., RiboMed<br />
Biotechnologies, Inc., Genomic Health, Inc., and NanoString Technologies,<br />
Inc.
Cancer/Tumor <strong>Profiling</strong> <strong>Market</strong><br />
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