New York, Aug. 01, 2022 (GLOBE NEWSWIRE) -- According to the report published by Next Move Strategy Consulting, the global cancer/tumor profiling market generated USD 11.10 billion in 2021, and is projected to reach USD 31.67 billion by 2030, witnessing a CAGR of 11.8% from 2022 to 2030. The report provides an extensive analysis of changing market dynamics such as driving factors and opportunities, top segments & their sub-segments, and leading market players.
Offering an entire analysis, data, and statistics in nearly 600 pages and representing crucial information in 760 tables and nearly 400 figures, the report aims to offer a thorough picture of the market to industry giants, investors, new entrants, and stakeholders for devising new strategies and raising their cancer/tumor profiling market share. It also offers the Covid-19 impact on the global market.
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| Report Coverage | Details |
| Forecast Period | 2022–2030 |
| Base Year | 2021 |
| Market Size in 2021 | USD 11.10 Billion |
| Market Size in 2030 | USD 31.67 Billion |
| CAGR | 11.8% |
| No. of Pages | 592 |
| Tables | 760 |
| Figures | 387 |
| Segments covered | Technique, Technology, Application, and Geography. |
| Drivers | Increase in new cancer cases |
| Surge in adoption of precision medicine options | |
| Opportunities | Unmet needs and economic development in the developing countries |
| Surge in new product approvals |
The report provides detailed analysis of driving factors, restraints, and opportunities of the global cancer/tumor profiling market. It is helpful for market players and investors in devising strategies based on factors that would give huge returns on their investments and raise market share. Increase in new cancer cases with aging population & lifestyle changes and surge in adoption of precision medicine options drive the growth of the global cancer/tumor profiling market. Moreover, surge in research and development activities supplement the market growth. However, high cost of cancer profiling tests and poor reimbursement policies restrain the market growth.
Outlining the opportunities that play a crucial role in increase the global cancer/tumor profiling market size in the next few years, the Lead Analyst for the Life Sciences & Healthcare category at Next Move Strategy Consulting, stated, “A lot of unmet needs and economic development in the developing countries present new opportunities in the coming years. In addition, surge in new product approvals create new avenues for the growth for market players.”
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The report provides a detailed analysis of top segments and their sub-segments of the global cancer/tumor profiling market. With the help of tables and figures, the research provides extensive analysis of segments such as technique, technology, application, and geography. Based on technique, the research divides the market into genomics, metabolomics, proteomics, and epigenomics. Based on technology, the research classifies the market into immunoassay, insitu hybridization, NGS, PCR, mass spectrometry, microarray, and others. Furthermore, the insitu hybridization segment is sub-classified into FISH and CISH.
Based on application, the research bifurcates the market into research applications and clinical applications. Moreover, the research applications segment is further divided into biomarker discovery and personalized cancer medicine. The clinical application segment is further classified into prognostics, oncological diagnostics, monitoring and treatment, and screening.
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Based on geography, the research sub-categorized the market into North America, Europe, Asia-Pacific, and RoW. Based on report, North America accounted for the highest share in 2021, and is estimated to maintain its dominance during the forecast period. This is due to rise in new product launches in countries such the U.S. and Canada, increase in prevalence of cancer, and advancements in technologies. However, Asia-Pacific is projected to register the fastest growth rate during the forecast period, owing to enhanced healthcare infrastructure and economic developments in emerging countries in the region.
The report offers a detailed analysis of each region and their respective countries based on aforementioned segments and sub-segments. This analysis will help in gaining detailed scenario of the global cancer/tumor profiling industry.
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The report highlights the competitive landscape of the global cancer/tumor profiling market by analyzing leading players based on various parameters such as business performance, key strategies and developments, and others. The report analyzes leading players including Lucence Health, Inc., Caris Life Sciences, F. Hoffmann-La Roche, Ltd., ACT Genomics Co., Ltd., Strand Life Sciences, Thermo Fisher Scientific, Inc., Illumina, Inc., IMB Dx, Inc., QIAGEN, Guardant Health, HTG Molecular Diagnostics, Inc., Ribomed Biotechnologies, Inc., NeoGenomics Laboratories, NanoString, and Exact Sciences Corporation (Genomic Health, Inc.).
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