Global cancer/tumor profiling market is anticipated to grow at a CAGR of 8%, during the forecast period. Cancer/tumor profiling offers much-needed information about the genes that cause cancer, which in turn, provides insights regarding the mechanism of cancer.The rising number of research projects on oncology due to the increasing prevalence of oncological disorders across the globe is one of the major factors driving the growth of the market.According to the World Health Organization (WHO), cancer is the second leading cause of mortality across the globe. In 2018, more than 9.6 million fatalities occurred across the globe due to cancer. The rising number of cases demanding for profiling kit is anticipated to drive the growth of the global cancer/tumor profiling market. The increasing use of biomarkers in tumor profiling is another factor promoting the growth of the global market. Furthermore, increasing investment in cancer research along with advancements in profiling technologies is projected to drive the growth of the global market.
Segmental Outlook
The cancer/tumor profiling market is segmented on the basis of technology, cancer type, and end-user. Based on cancer type, breast cancer held a substantial market share in 2018, owing to the high prevalence of breast cancer. Based on end-user, the research segment is anticipated to hold significant market share due to the growing focus on biomarker discovery for drug development in addition to the rising field of personalized medicine is anticipated to fuel the growth of the research segment. Moreover, growing investment for cancer research is promoting the growth of the research segment in the cancer/tumor profiling market.
Immunoassays will be the largest segment by Technology
By technology, global cancer/tumor profiling market is divided into immunoassays, in situ hybridization, sequencing techniques, mass spectrometry, and others. Immunoassays are anticipated to hold significant share in the market, owing to their high utilization as a gold standard for conduction of large- scale tumor profiling. The profiling of tumor enables to measure the presence and concentration of analytes in a sample. The immunoassays are often used for performing cancer diagnosis, prognosis, and treat diseases.
Global Cancer/Tumor Profiling Market Share by Technology, 2018 (%)
Regional Outlook
Global cancer/tumor profiling market is segmented on the basis ofgeography, including North America, Europe, Asia-Pacific, and Rest of the World. In 2018, North America contributes a significant share in the global cancer/tumor profiling market, owing to rapid technological advancement in cancer/tumor profiling kit. Moreover, the presence of major market players such as Illumina, Inc., QAIGEN N.V., is contributing to the growth of the market in the region. Furthermore, the rapid adoption of advanced technologies by the companies that manufactures these kits is again making a significant contribution to the growth of the market in North America.
Global Cancer/Tumor Profiling Market Growth, by Region 2019-2025
Asia-Pacific will augment with the considerable growthrate in global market
Asia-Pacific is anticipated togrow at a significant CAGR during the forecast period. This is owing to increasing government initiatives for cancer treatment and growing healthcare expenditure in emerging economies, such as India and China. According to the Indian Council of Medical Research (ICMR), in 2016, more than 1.4 million cancer cases were registered in India, which is further expected to reach 1.7 million by 2020. Due to this increase in the number of cancer cases the requirement of tumor profiling kits will increase, thereby, propelling the growth of the cancer/tumor profiling market in the region. Furthermore, increasing proteomics and genomics research, increasing investments by pharmaceutical andbiotechnology companies in cancer/tumor profiling is again fueling the growth of cancer/tumor profiling market in Asia-Pacific.
Market Players Outlook
The key players operating in the global cancer/tumor profiling market include QIAGEN N.V., Genomic Health, Inc., Sysmex Corp., Illumina Inc., and Thermo Fisher Scientific Inc. The companies are focused on developing advanced technologies in cancer/tumor profiling market to stay competitive in the global market. Geographical expansion, merger andacquisition, partnerships andcollaborations, finding a new market or innovate in their core competency to expand individual market share are some of the key strategies adopted by major market players. For instance, in February 2019, Lunaphore Technologies S.A. launched a LabSat TM, which is advanced next-generation equipment for tissue diagnostics and cancer research.
The Report Covers
1. Report Summary
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
1.2.3. By Stakeholders
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
2.3. Rules &Regulations
3. Competitive Landscape
3.1. Company Share Analysis
3.2. Key Strategy Analysis
3.3. Key Company Analysis
3.3.1. F. Hoffmann-La Roche Ltd.
3.3.1.1. Overview
3.3.1.2. Financial Analysis
3.3.1.3. SWOT Analysis
3.3.1.4. Recent Developments
3.3.2. Genomic Health, Inc.
3.3.2.1. Overview
3.3.2.2. Financial Analysis
3.3.2.3. SWOT Analysis
3.3.2.4. Recent Developments
3.3.3. Sysmex Corp.
3.3.3.1. Overview
3.3.3.2. Financial Analysis
3.3.3.3. SWOT Analysis
3.3.3.4. Recent Developments
3.3.4. QIAGEN N.V.
3.3.4.1. Overview
3.3.4.2. Financial Analysis
3.3.4.3. SWOT Analysis
3.3.4.4. Recent Developments
3.3.5. Illumina, Inc.
3.3.5.1. Overview
3.3.5.2. Financial Analysis
3.3.5.3. SWOT Analysis
3.3.5.4. Recent Developments
4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities
5. Market Segmentation
5.1. Global Cancer/Tumor Profiling Market by Technology
5.1.1. Immunoassay
5.1.2. In Situ Hybridization
5.1.3. Sequencing techniques
5.1.4. Mass spectrometry
5.1.5. Others (Microarray)
5.2. Global Cancer/Tumor Profiling Market by Cancer Type
5.2.1. Lung cancer
5.2.2. Breast cancer
5.2.3. Prostate cancer
5.2.4. Melanoma cancer
5.2.5. Others (colorectal cancer)
5.3. Global Cancer/Tumor Profiling Market by End-User
5.3.1. Clinics and Hospitals
5.3.2. Research Centers
6. Regional Analysis
6.1. North America
6.1.1. United States
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Rest of Europe
6.3. Asia-Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. Rest of Asia-Pacific
6.4. Rest of the World
7. Company Profiles
7.1. Agilent Technologies, Inc.
7.2. Almac Group Ltd.
7.3. Biodesix, Inc.
7.4. Biospherex LLC
7.5. Cepheid
7.6. Cernostics, Inc.
7.7. F. Hoffmann-La Roche Ltd.
7.8. General Electric Co.
7.9. Genomic Health, Inc.
7.10. Illumina, Inc.
7.11. Lunaphore Technologies S.A.
7.12. Metabiomics Corp.
7.13. Myriad Genetics, Inc.
7.14. Novartis International AG
7.15. OPKO Health, Inc.
7.16. PerkinElmer Inc.
7.17. Personalis, Inc.
7.18. QIAGEN N.V.
7.19. Sysmex Corp.
7.20. Thermo Fisher Scientific Inc.