The Global Cancer Tumor Profiling market study focuses major leading industry players with information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information. It provides information on trends and developments, and focuses on markets and materials, capacities and technologies, and on the changing structure.
Seattle, WA -- (SBWIRE) -- 11/15/2019 -- Cancer Tumor Profiling market is projected to reach USD 12.4 billion by 2027 from USD 7.5 billion in 2019, at a CAGR of 10.5%. Growth in this market is driven by the growing incidences of cancer across the globe and the increasing use of biomarkers in tumor profiling. Other market drivers include an increase in cancer research & funding and technological advancements in profiling technologies.
Based on technology, Cancer Tumor Profiling market has been segmented into immunoassays, in-situ hybridization, next-generation sequencing (NGS), polymerase chain reaction (PCR), mass spectrometry, microarrays, and other technologies. The immunoassays segment accounted for the largest market share in 2018 due to its use as a gold standard to conduct tumor profiling on a large scale as they help measure the presence and concentration of analytes in a sample. Moreover, the information gained by these tests in clinical settings helps shorten hospital stays and decrease the severity of illnesses by identifying & assessing the progression of the disease, leading to improved therapeutic choices.
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Based on cancer type, Cancer Tumor Profiling market has been segmented into breast cancer, lung cancer, colorectal cancer, prostate cancer, melanoma, and other cancers. In 2018, the breast cancer segment accounted for the largest share of Cancer Tumor Profiling market. The high prevalence of breast cancer across the globe is the primary factor contributing to the large percentage of this segment.
Based on bio-marker type, Cancer Tumor Profiling market is segmented into genetic bio-markers, protein bio-markers, and other bio-markers. In 2018, the genetic bio-markers segment accounted for the largest share of Cancer Tumor Profiling market. The large share of this segment can be attributed to the high adoption of these bio-markers during cancer diagnosis and prognosis and in the bio-marker discovery process.
Based on applications, Cancer Tumor Profiling market is segmented into research and clinical applications. The research applications segment accounted for the largest share of Cancer Tumor Profiling market in 2018. The large share of this segment is attributed to the increasing focus on biomarker discovery for drug development along with the rapidly growing field of personalised medicine. Additionally, the growing funding for cancer research is propelling the growth of the market.
Cancer Tumor Profiling market in the Asia Pacific is expected to grow at the highest CAGR during the forecast period. The high incidence of cancer, increasing proteomics & genomics research, growing research funding, rising investments by pharmaceutical & biotechnology companies, and awareness about personalized therapeutics in the region are propelling the market growth.
The prominent players in this market are Illumina, Inc. (US), QIAGEN N.V. (Germany), NeoGenomics Laboratories, Inc. (US), HTG Molecular Diagnostics, Inc. (US), Genomic Health Inc. (US), Caris Life Sciences (US), Helomics Corporation (US), NanoString Technologies, Inc. (US), Sysmex Corporation (Japan), RiboMed Biotechnologies, Inc. (US), Guardant Health, Inc. (US), and Foundation Medicine (US).
With a strong global presence, Illumina is continuously involved in product and technological innovations for Cancer Tumor Profiling market, which has led to an increase in the company's overall revenue. It focuses on acquiring new consumers through expansions, partnerships, and collaborations, along with introducing advanced products in the market.
Critical questions answered in the report:
- How will the current technological trends affect Cancer Tumor Profiling market in the long term?
- How is the biomarkers market for Cancer Tumor Profiling moving?
- What are the application areas of Cancer Tumor Profiling market?
- Which regions are likely to grow at the highest CAGR?
- What are the growth strategies being implemented by major market players?
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