Global Cancer/tumor Profiling Market was valued at $25,318 million in 2016, and is expected to reach $82,447 million by 2023, registering a CAGR of 18.4% from 2017 to 2023.
Portland, OR -- (SBWIRE) -- 09/25/2017 -- Cancer/tumor profiling provides information about the genes causing cancer, which would offer useful insights related to the mechanism of cancer. The potential of cancer profiling is not only limited to common cancers, such as lymphoma and breast cancer, but also is useful in molecular profiling of lung cancer, prostate cancer, and acute leukemia. Cancer profiling has plays a vital role in diagnosis at the molecular level, as better understanding of the cancer tumors helps physicians to make appropriate therapeutic decisions and avoid "over-treatment" of the cancer patients.
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The global market is driven by growing demand for cancer profiling method by oncologists to diagnose or treat cancers as well as predict response to targeted therapy. In addition, rise in adoption of cancer biomarkers for tumor profiling, increase in incidence of cancer across the globe, and growth in use of next-generation sequencing technique for cancer profiling boost the market growth. However, high monetary investments for the development of biomarkers and dearth of skilled professionals or oncologists specific to tumor profiling hamper the market growth.
The global cancer/tumor profiling market is segmented based on technology, technique, application, and region. Based on technology, it is classified into next-generation sequencing (NGS), polymerase chain reaction (PCR), immunohistochemistry (IHC), in situ hybridization (ISH), microarray, and others. The in-situ hybridization segment is further categorized into fluorescence in situ hybridization (FISH) and chromogenic in situ hybridization (CISH). Based on technique, the market is classified into genomics, proteomics, epigenetics, and metabolomics. Based on application, it is divided into personalized medicine, diagnostics, biomarker discovery, prognostics, and research applications. The cancer/tumor profiling market is analyzed across four regions namely, North America, Europe, Asia-Pacific, and LAMEA.
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