Global Cancer Tumor Profiling Market Size, Share, Growth Analysis, By Technology(Breast cancer, Lung cancer), By Cancer type(genomic biomarker, protein biomarker) - Industry Forecast 2024-2031

Global Cancer Tumor Profiling Market size was valued at USD 10.73 billion in 2022 and is poised to grow from USD 11.87 billion in 2023 to USD 26.57 billion by 2031, at a CAGR of 10.6% during the forecast period (2024-2031).

The main drivers propelling the market for cancer detection and treatment products are the global increase in cancer cases and the application of biomarkers in tumor profiling. The market for cancer and tumor profiling has expanded as a result of increased investments in cancer research, funding programs, and technology developments. For market participants, the expansion of point-of-care diagnostics and personalized medicine is anticipated to present substantial potential over the next years.

The COVID-19 pandemic in 2020-2021 is not anticipated to have a major effect on the cancer/tumor profiling industry. As a result of precautions made to guard against the virus, the COVID-19 epidemic has significantly reduced the amount of cancer testing and diagnoses. Proteomics, epigenetics, metabolomics, and genomics are the segments of the cancer/tumor profiling market that will be included in the forecast period. Of these, genomics is anticipated to have the greatest compound annual growth rate (19.7%). The method establishes if a gene within the entire genome is aberrant or normal. It is used to characterize genes. Genes develop abnormally due to mutations, which can aid in the survival of cancer cells. A promising method for identifying and researching cancer is cancer tumor profiling, which looks for alterations in tumor shape, metabolism, and stage.

Top-down and bottom-up approaches were used to estimate and validate the size of Global Cancer Tumor Profiling Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Logistics Automation Market Segmental Analysis

The market for cancer tumor profiling is divided into segments based on according to application, biomarker, cancer kind, and technology. On the other hand, technology is divided into categories such as microarrays, mass spectrometry, in-situ hybridization, polymerase chain reaction, next-generation sequencing, and immunoassays.Breast cancer, lung cancer, colorectal cancer, prostate cancer, melanoma cancer, and other cancer types are divided into different categories. Protein biomarkers and genetic biomarkers are the two categories of biomarkers. Application is divided into two categories: research and biomarker identification. The market is divided into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

Drivers of Global Cancer Tumor Profiling Market

One of the main factors driving market expansion in the overall cancer/tumor profiling industry is the rise in cancer incidences. Numerous causes contribute to the rising incidence of cancer. The disease is broad and complex, with multiple etiologies. The incidence of cancer is influenced by factors such as aging populations, increasing population sizes, and shifting rates of certain cancer causes.

Restraints in Global Cancer Tumor Profiling Market

In the cancer and tumor profiling industry, technical problems with sample collection and storage are impeding market expansion. A rapidly expanding area of medicine called "personalized medicine" is revolutionizing the diagnosis, categorization, and management of numerous illnesses. The way diseases are treated is already significantly changing as a result of the widespread adoption of this strategy in clinical practice. Oncology is one field where recent advancements in cancer treatment are very noticeable. Their associated risks may impede market expansion.

Market Trends of Global Cancer Tumor Profiling Market

The integration of omics data and developments in liquid biopsy tests are anticipated to drive the greatest compound annual growth rate (CAGR) in the cancer/tumor profiling market over the projected period. The topic of personalized medicine is a rapidly expanding area of healthcare study that is revolutionizing the diagnosis, classification, and treatment of diseases. It is currently utilized to treat a wide range of illnesses and has entered the mainstream of clinical practice. Oncology is one field where the advancements in cancer treatment are most noticeable.