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Global Cancer/Tumor Profiling Market, Industry Insights by Technology, Type of Cancer, Application, Forecast by 2024

01.31.2019 · Posted in Writing and Speaking

The global cancer/tumor profiling market is growing at significant rate, due to escalating number of cancer cases and rising efficacy of biomarkers in tumor profiling. Different technologies contributed to the cancer/tumor profiling market size. The market has witnessed high demand for immunoassays over the last few years due to technological improvements and cost-effectiveness.

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Cancer/Tumor Profiling Market

There are various technologies of cancer/tumor profiling, such as immunoassays, next generation sequencing, hybridization, mass spectrometry and other technologies. Of all, next generation sequencing segment witnessed the highest growth worldwide, which is due to mounting number of new cancer cases, innovations in sequencing technologies, extensive variety of applications, and inclination for personalized medicines.

The cancer/tumor profiling market is subdivided by application into clinical application and research application. Research application is expected to grow at fastest rate in the market due to the outcome of therapeutic interferences & drug-induced toxicity and progressively companies are concentrating on the usage of biomarkers as biological indicators for the improvement of diseases.

The escalating number of cancer cases, accessibility of finance for cancer research, increasing demand for accurate diagnosis of cancer in early stages and rising efficacy of biomarkers in tumor profiling are the primary growth drivers for cancer/tumor profiling market.

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Geographically, North America is the largest cancer/tumor profiling market as in the region the number of cancer cases is increasing. Asia-Pacific is observed to witness fastest growth in the market, as the region comprises of large population base and mounting occurrence of cancer.

Key players in the cancer/tumor profiling industry are catering the demand of these devices by investing on technologically advanced products in their product portfolio across the globe. Illumina, Inc., Genomic Health Inc., Qiagen N.V., Oxford Gene Technology, Caris Life Sciences, Neogenomics Laboratories, Inc., HTG Molecular Diagnostics, Inc., Helomics Corporation, Nanostring Technologies, Inc. and Ribomed Biotechnologies, Inc. are the key players offering cancer/tumor profiling.

Source: VynZ Research

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