PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1070393
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1070393
The genomic cancer panel and profiling market is estimated to be worth US$ 1,200.8 million in 2020. Genomic cancer panel and profiling market is expected to expand at a 22.7% CAGR during the forecast period.
Market Introduction
Genomic profiling, also known as genomic characterization, is a technique for discovering all of a person's or a cell type's genes, as well as understanding how those genes interact with one another and with the environment. The growing number of clinical and preclinical research can be attributed to the changing demands of the evolving diagnostic and therapeutic application areas. Genomic profiling is also used to understand the causes of the development of particular diseases or why different people react to the same medicine in different ways. It could also be utilized to aid in the development of innovative methods for diagnosing, treating, and preventing diseases like cancer and also a lead way for personalized medicines.
Market Dynamics
The rise in incidences of cancer diseases, and the rising adoption of gene panels due to the benefits they provide are all driving the growth of the genomic cancer panel and profiling market. In recent years, the market has witnessed a rapid transformation in the diagnosis and treatment of cancer. As Oncologists begin to routinely use the information on the hundreds of genes linked to cancer, the industry is moving out of a specialized niche and into the mainstream. In addition to this, the growth is also driven by the growing demand for precise cancer detection at an early stage. Many organizations and foundations, such as the WHO's Cancer Preventive Program, the Prevent Cancer Foundation, the National Cancer Control Program, are increasing cancer awareness at the national as well as international level, which is expected to further fuel the growth of the genomic cancer panel and profiling market during the forecast period.
Segmentation Analysis
The genomic cancer panel and profiling market are segmented by type of cancer, application, tissue type, regional distribution, and competitive landscape. Based on the type of cancer, breast cancer is expected to witness the fastest growth during the forecast period, The growth is primarily driven by the growing prevalence of breast cancer and the growing demand for gene panels in cancer diagnosis and research for a better understanding of genetic variability of cancer. According to the World Health Organization, around 627,000 women died from breast cancer worldwide in 2018, and the rate of breast cancer is estimated to be greater among women in developed nations than in developing regions. It is estimated that 1 in 28 women develop breast cancer during their lifetime. In India, it is estimated that by 2030, breast cancer will cause more deaths among women than any other disease. Breast and oral cavity cancer accounted for 25.0 percent of cancer cases in women in 2018, according to Cancer Organization India. Furthermore, the Susan G Komen Breast Cancer Foundation, Inc. estimates that more than 41,000 women die from breast cancer every year in the U.S. Moreover, breast cancer is one of the most frequent types of cancer among women in South Africa, according to the South African Journal of Radiology, and it is also one of the major causes of mortality. Genomic cancer panels and profiling are found to be effective for the detection of early-stage luminal breast cancer.
Competitive Landscape
The global genomic cancer panel and profiling market is fairly fragmented with the presence of large numbers of players in the market. Companies in the space are continuously focusing on research and development, partnerships, collaborations, and new product launches and development to strengthen their presence in the global market. Some of the recent developments are:
In March 2020, Illumina launched TruSight Oncology Comprehensive, a single test that can assess multiple tumor genes and biomarkers.
In May 2019, QIAGEN received FDA approval for PIK3CA RGQ PCR Kit for use as a companion diagnostic for identifying breast cancer patients.
Key features of the study:
This proposed research study on Genomic Cancer Panel and Profiling market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2021-2027), considering 2020 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Genomic Cancer Panel and Profiling market.
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Genomic Cancer Panel and Profiling market.
Impact of COVID-19 on Genomic Cancer Panel and Profiling market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Genomic Cancer Panel and Profiling market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the Genomic Cancer Panel and Profiling market, we have also included competitive landscape and key innovator analysis for the Genomic Cancer Panel and Profiling market
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the Genomic Cancer Panel and Profiling market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
The Genomic Cancer Panel and Profiling market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
Genomic Cancer Panel and Profiling Market Key Players
10x Genomics, Inc.
BioGenex
Cynvenio
GILUPI Nanomedizin
Millipore Sigma
Rarecells SAS
ARUP Laboratories
Asuragen
AVIVA Biosciences
Baylor Miraca Genetics Laboratories
Genomic Cancer Panel and Profiling Market by Type of Cancer
Breast Cancer
Colorectal Cancer
Blood Cancer
Prostate Cancer
Lung Cancer
Other Cancer
Genomic Cancer Panel and Profiling Market by Application
Clinical Testing
Pharmaceutical Testing
Research Testing
Genomic Cancer Panel and Profiling Market by Tissue Type
Solid Tissue Testing
Liquid Tissue Testing
Genomic Cancer Panel and Profiling Market by Region
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Argentina
Rest of Latin America
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa