Cancer Profiling Market Research Report: Global Size, Share, Key Trends, Growth Drivers, Regional Outlook, Revenue Estimation and Forecasts, 2024–2030

Cancer Profiling Market Overview

The global cancer profiling market was valued at USD 10.5 Billion (E) in 2023, and it will grow at a rate of 12.3 % during 2024–2030, to reach USD 23.2 Billion in 2030.

The development of the market can be credited to the increasing investments in cancer studies and the technical improvements in profiling technologies. Furthermore, the rising requirement for point-of-care diagnostics is projected to provide substantial opportunities to industry players.

The tumor mutation load is a vital feature of cancerous tissues, offering valuable data for cancer research and testing. It can be assessed through next-generation sequencing (NGS) technologies, thus propelling the market. Moreover, genomics enables the examination of tumor genomes utilizing numerous profiling approaches, such as transcriptomics and DNA methylation. In the same way, single nucleotide variants (SNPs) can change the count of methylation loci, thereby resulting in altered gene expressions and increasing the danger of cancer, which is ultimately driving the overall industry development.

In the past few years, a substantial number of studies have been undertaken in the area of oncology, marked by considerable improvements in biomarkers. Such agents play an important role in unraveling the multifaceted molecular and cellular mechanisms that govern tumor genesis, growth, and survival. The advancement in clinical molecular diagnostics and biomarker examination has not only expanded the understanding of cancer but also enabled the identification of novel medication targets and pioneering treatment methods.

Biomarkers have advanced into quintessential equipment for disease analysis, tailoring personalized medicinal drug plans, and establishing surrogate endpoints. The dynamic development witnessed in clinical research across numerous therapeutic areas has focused the interest on exploring potential new biomarkers that surpass the sensitivity and specificity of the traditional markers. The confirmed effectiveness of biomarkers in improving cancer diagnostics is predicted to drive the market.

Market Dynamics

The major trend in the cancer/tumor profiling market currently is precision oncology. Personalized medicine, which is steadily becoming a core area of study in the healthcare sector, is finding widespread adoption in conventional clinical practice, advancing disease treatment, identification, and classification. Tumor behavior is commonly shown by numerous molecular or genetic markers. The quick enhancements in tumor genomic profiling have deeply extended tumor behavior knowledge and led to the creation of tailored chemotherapeutic regimens for patients.

The societal and clinical emphasis on personalized medicine, also known as precision oncology in regard to cancer, has led to a notable shift in healthcare. This shift is driving the demand for personalized medicine, consequently boosting the utilization of tumor profiling techniques for diagnostics and drug development.

The biggest growth driver for the tumor profiling market is the continuous increase in the number of people suffering and dying of cancer.

• As per the Global Cancer Observatory, in recent years, there were around 19.4 million new cases and 10.2 million demises because of cancer across the world.
• Further, according to ACS journals, the leading cause of global cancer mortality in 2020 was lung cancer, accounting for 1.8 million deaths.
• Subsequent causes included colon cancer (9.3%), liver cancer (8.3%), stomach cancer (7.7%), and female breast cancer (6.9%).
• Further, as per the American Cancer Society, the global cancer load is projected to reach 29.4 million cases by the year 2040, which is nearly close to a 47.2% increase from 2020.

Cancer profiling Market Report Coverage

Report Attribute	Details
Market Size in 2023	USD 10.5 Billion (E)
Revenue Forecast in 2030	USD 23.2 Billion
Growth Rate	12.3% CAGR
Historical Years	2017-2023
Forecast Years	2024-2030
Report Scope	Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling

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Segmentation Analysis

The next-generation sequencing category is projected to witness the highest CAGR over the projection period. The development of the category can be credited to the utility of NGS in efficiently discovering genetic modifications in an extensive variety of cancers. It also enables the identification of numerous differentially articulated genes and genetic/epigenetic alternatives as potential targets, to help in the creation of new biomarkers for the initial analysis of the disease.

On the basis of cancer type, the breast cancer category is dominating the industry. The dominance can be credited to the increasing number of research partnerships on breast cancer diagnostics and the high occurrence of breast cancer globally.

• As per global estimates, cancer prevalence was the highest for breast cancer (11.8%), trailed by lung cancer (11.3%), colon cancer (10%), prostate cancer (7.3%), and stomach cancer (5.6%), in 2020.

On the basis of application, the biomarker discovery category is a significant revenue contributor to the market. This can be credited to the vast applications of biomarkers in medication discovery & development. Essentially, the high cancer burden, which continues to grow and cause significant economic, social, and emotional damage, has spurred robust research in oncology, especially on biomarkers.

The proteomics category holds a substantial share in the technique segment. Proteomic profiling is used to measure the levels of various proteins in malignant tumors, which is vital to gain a thorough understanding of the disease, stage it, and devise an effective treatment regimen.

Geographical Insights

The dominant share in this market is held by North America, primarily attributed to the escalating adoption of biomarkers for drug development. At the root of everything, the rising incidence of cancer contributes to the dominance of the North American continent on the global market. The presence of a substantial number of global players in this region also plays a pivotal role in consolidating its leading position in the cancer/tumor profiling market.

The APAC region is expected to witness the highest CAGR over this decade. The regional market is propelled by the increasing government and private investment in healthcare and rapid technological advancements in oncology as a result of the extensive research being conducted in the area.

• China is an opportunistic country in the region for market players, owing to the rising popularity of precision medicine, availability of enhanced cancer diagnosis tools & techniques, especially genome sequencing; and a huge cancer-ridden population.
• India also has the potential to develop into a major market in the coming years, boosted by the significant research grants medical oncology and cancer genetics receive in the country.
• Moreover, the Ministry of Health and Family Welfare of India expects 800,000 new cancer diagnoses each year, which hints at a massive short- and long-term demand for tumor profiling solutions.
• Further, as per surveys, only 15% of the cancer patients in the country receive treatment, a statistic the government is desperate to improve.

Top Cancer Profiling Producers:

• Illumina Inc.
• QIAGEN N.V.
• Neogenomics Inc.
• Sysmex Corporation
• HTG Molecular Diagnostics Inc.
• Helmonics Corporation
• Caris Life Science
• Nanostring Technology Inc.
• Ribomed Biotechnologies Inc.
• Guardent Health Inc.
• F. Hoffmann-la-Roche Ltd.
• Genscript Biotech Corporation
• Tempus Labs Inc.
• Histogen X
• Thermo Fisher Scientific Inc.
• Oxford Gene Technology IP Limited