Escalating Cancer Prevalence Projected To Spur Global Cancer Profiling Market Growth

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Over the years, the cancer diagnosis field has advanced considerably and in several ways, comprising screening tests and medical imaging being progressively utilized for identifying the growth or onset of the tumor tissue. Tumor or cancer profiling is an indicative test that offers genetic details about the tumor or cancer existing in the body of a patient. This genetic profiling assists in defining the appropriate procedure, whether the tumor cells have metastasized already, or when the cancer is most likely to relapse. Also, it aids in deciding the particular therapeutics that is most likely to show the effective outcomes and to help the patients.

Cancer Profiling

The global cancer profiling market growth is projected to be driven by the growing occurrence of cancer around the world along with the increasing biomarker usage in tumor profiling. In addition, the growing need for personalized medicine and the rising requirement for point-of-care diagnostics are anticipated to provide lucrative growth avenues for market players and its growth during the forecast period. Furthermore, the growing funds being focused toward activities targeted at enhancing the complete path of treatment & diagnosis of the disease and huge developments in technological in the tumor profiling field will also fuel market growth.

The global cancer profiling market can be diversified based on technology, technique, cancer type, application, and region. By technology, the market is categorized into in situ hybridization, sequencing techniques, qPCR, immunohistochemistry, and microarray. The sequencing techniques segment is further sub-segmented into sanger sequencing, next generation sequencing, and pyro sequencing. By technique, the market is divided into proteomics, genomics, epigenetics, and metabolomics. By cancer type, the market is bifurcated into lung cancer, breast cancer, melanoma cancer, prostate cancer, colorectal cancer, and others. By application, the market is classified into diagnostics, personalized medicine, prognostics, biomarker discovery, and research applications.

Geographically, global cancer profiling market is projected to be dominated by North America during the forecast period on account of the existence of key players, high incidence of cancer, swift developments in technology, and elevated study in oncology. Also, Asia Pacific is anticipated to witness considerable growth rate during the years to come owing to availability of huge untapped markets, low penetration rate, and a huge population pool.

Some of the leading players actively participating in the global cancer profiling market include QIAGEN, Illumina Inc., HTG Molecular Diagnostics, NeoGenomics Laboratories Inc., Caris Life Sciences, Genomic Health, NanoString Technologies Inc., Helomics Corp, NanoString Technologies Inc., Ribomed, Oxford Gene Technology IP Limited, Abbott, F. Hoffmann-La Roche Ltd, BD, Hologic Inc., Agendia, Claris Lifesciences Ltd., Siemens Healthcare GmbH, Perthera Inc., Contextual Genomics, Personal Genome Diagnostics Inc., GenomeDx, GenScript, Precision Medicine Group Inc., Guardant Health Inc., and Foundation Medicine Inc.

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