Cancer/Tumor Profiling Market Size & Forecast
The Cancer/Tumor Profiling Market is projected to reach $24.70 billion by 2031 at a CAGR of 10.9% from 2024 to 2031. The rise in cancer cases, the growing research of novel molecules, and the increasing number of genomic research projects have increased the demand for cancer/tumor profiling. The emergence of tumor profiling has removed the restraints of traditional cancer/tumor classification approaches, which rely on the morphology of the cancerous cells and the surrounding tissues. Today, cancer/tumor profiling is accepted as the standard technique for classifying tumors, with the guidelines associated with the European Society for Molecular Oncology (ESMO) and the College of American Pathologists (CAP).
The profiling of tumors with advanced technologies such as ISH, NGS, IHC, and PCR has successfully analyzed the genes, amplicons, and gene regions with familiar involvement with tumors. This approach, also known as targeted treatment, delivers high sensitivity for detecting tumor subclones or rare mutations, providing increased visibility regarding important mutations acting as drivers of cancer.
The growth of the cancer/tumor profiling market is attributed to the increasing prevalence of cancer, the rising pharmaceutical R&D expenditures, the growing number of targeted therapies and the discovery of new actionable biomarkers, increasing investments in cancer research, the declining costs of NGS-based profiling, and advancements in multi-omics tumor profiling. However, the high capital investments required for NGS setups and long turnaround times restrain the growth of this market.
Additionally, the increasing focus on developing personalized medicines and the rising awareness and adoption of targeted therapies are expected to generate market growth opportunities. However, the lack of genetic experts for interpreting results, the non-availability of in-house tumor profiling technologies, and the high number of false biomarker discoveries are major challenges for the stakeholders in the cancer/tumor profiling market.
Cancer/Tumor Profiling Market Growth Drivers
Advancements in Multi-omics Tumor Profiling and Cancer Research
Cancer research has benefited from the advancement in omics technologies from genomics to transcriptomics and from a wide variety of resources obtained from multiple omics datasets originating from the patients. Multi-omics approaches offer a unique opportunity to identify cancer patients' clinical and molecular features. In transcriptomics and genomics, there is an unmet need to distinguish between inconsistency in related biological procedures, like differences in variability or post-translational changes in the expression profiles due to the role of mRNA transcripts in the development of cancer.
Recent advancements in proteomics have facilitated the emergence of proteogenomic approaches. These approaches seamlessly integrate genomic data with proteomics data, including insights into post-translational modifications such as acetylation and protein phosphorylation. These developments in multi-omics tumor profiling and cancer research are expected to drive the growth of the cancer/tumor profiling market.
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Increasing Prevalence of Cancer
The burden of cancer is growing globally. According to GLOBOCAN 2020, cancer incidence is expected to increase from 19.3 million in 2020 to 30.2 million in 2040. Moreover, the mortality due to cancer is estimated to increase from 9.9 million in 2020 to 16.3 million in 2040. Nearly 70% of the total deaths due to cancer occur in low and middle-income countries. Early detection is extremely important in reducing mortality, improving patients’ chances of survival, and saving on treatment costs. Various methods are used to detect cancer. The demand for cancer/tumor profiling for cancer diagnosis is expected to grow significantly in the coming years.
Advancements in Multi-omics Tumor Profiling
During the last decade, genomics and proteomics approaches have become effective and crucial tools in the clinical research of biological pathways involved in cancer pathogen replication, host response, and disease progression. Genomics and proteomics are important for discovering and understanding host-pathogen interactions. They offer the opportunity to improve personalized treatments and disease prevention in advanced cancer cases. Genomics primarily aims to sequence, assemble, and analyze the functions and structures of genomes. At the same time, proteomics helps in the large–scale study of the complete set of proteins within an organism. Such developments in genomics and proteomics are expected to drive the cancer/tumor profiling market.
Cancer/Tumor Profiling Market Opportunity
Increasing Focus on the Development of Personalized Medicines Creating Market Growth Opportunities
Personalized/precision medicine uses an individual’s genomic information to offer targeted treatment. The synthesis of genes can rapidly sequence large sections of a person’s genome and aid in the formulation of precision medicine, in turn generating cost-effective alternatives to existing therapies and allowing for novel treatments. Personalized medicine analyzes molecules, individual genes, and networks and translates them into an overall output for the systems of the human body. These medicines can tailor therapies with the best responses and highest safety margins, ensuring better patient care. Moreover, precision medicines help cure diseases and enhance the chances of saving people undergoing treatments for life-threatening diseases. Furthermore, cancer treatment and diagnosis are also advancing significantly with the increased adoption of advanced technologies such as PCR, NGS, FISH, and ISH in precision medicine.
New targeted cancer treatments that use genomic data to provide patient-specific treatments are known as precision oncology. This rapidly developing field has already become a part of mainstream clinical practices. It involves the molecular profiling of cancer cells to identify targetable alterations, also known as biomarkers. Quick and reliable sequencing of multiple genes at once is possible with next–generation sequencing (NGS) technology. Furthermore, personalized medicine contributes to advancements in new therapies for cancer treatment, the development of new methods for disease detection, and the development of preventive medicines. Thus, the increasing inclination toward personalized medicine-based diagnosis and treatment is expected to create opportunities for market growth.
Cancer/Tumor Profiling Market Analysis: Key Findings
Based on Biomarker Type, the Genetic Biomarkers Segment is Expected to Account for the Largest Share of the Market in 2024
Based on biomarker type, the cancer/tumor profiling market is segmented into genetic biomarkers and protein biomarkers. In 2024, The genetic biomarkers segment is expected to account for the largest share of 72.0% of the cancer/tumor profiling market. The large market share of this segment is attributed to the benefits offered by genetic biomarkers, including their reliability in identifying drug-resistant cancer cells, assisting in identifying genetic patterns responsible for future cancer recurrence, and their increased use for the early detection of cancer.
Based on Technology, the Next-Generation Sequencing (NGS) Segment is Expected to Account for the Largest Share of the Market in 2024
Based on technology, the cancer/tumor profiling market is segmented into next-generation sequencing (NGS), polymerase chain reaction (PCR), in situ hybridization (ISH), immunohistochemistry (IHC), and other technologies. In 2024, the next-generation sequencing (NGS) segment is expected to account for the largest share of the cancer/tumor profiling market. The large market share of this segment is attributed to the benefits offered by NGS, such as high-throughput production, efficient instrument runs, and cost-effectiveness compared to traditional first-generation sequencing methods. Additionally, NGS is highly preferred for large-scale genomic profiling and transcriptomic sequencing.
Based on Cancer Type, the Breast Cancer Segment is Expected to Account for the Largest Share of the Market in 2024
Based on Cancer Type, the cancer/tumor profiling market is segmented into breast cancer, colorectal cancer, lung cancer, prostate cancer, lymphoma, leukemia, cervical cancer, and other cancer types. In 2024, The breast cancer segment is expected to account for the largest share of the cancer/tumor profiling market. The large market share of this segment is attributed to the rising incidence of breast cancer cases and the increasing adoption of tumor profiling for breast cancer.
Based on Application, the Research Applications Segment is Expected to Account for the Largest Share of the Market in 2024
Based on application, the cancer/tumor profiling market is segmented into clinical applications and research applications. In 2024, the research applications segment is expected to account for the largest share of the cancer/tumor profiling market. The large market share of this segment is attributed to the decreasing cost of sequencing procedures, the rising research and development efforts by pharmaceutical and biopharmaceutical companies in drug and biomarker discovery, the high sensitivity and throughput offered by advanced profiling technology, and the expanding applications of cancer/tumor profiling in various clinical and research areas.
Based on End User, the Pharmaceutical & Biopharmaceutical Companies Segment is Expected to Account for the Largest Share of the Market in 2024
Based on End User, the cancer/tumor profiling market is segmented into pharmaceutical & biopharmaceutical companies, hospitals & diagnostic laboratories, academic & research institutes, and contract research organizations (CROs). In 2024, the pharmaceutical & biopharmaceutical companies segment is expected to account for the largest share of 40.9% of the cancer/tumor profiling market. The large market share of this segment is attributed to the declining costs of sequencing, the increase in research and development activities by pharmaceutical and biopharmaceutical companies, and the extensive utilization of advanced profiling solutions for cancer studies.
Geographical Analysis
In 2024, North America is expected to account for the largest share of 42.7% of the cancer/tumor profiling market. North America’s significant market share can be attributed to the high prevalence of cancer, substantial healthcare expenditure, widespread adoption of advanced molecular technologies, and substantial investment in pharmaceutical R&D.
Cancer/Tumor Profiling Market: Key Companies
The report offers a competitive landscape based on an extensive assessment of the product offerings and geographic presence of leading market players and the key growth strategies adopted by them over the past few years (2021–2024). The key players operating in the global cancer/tumor profiling market are Thermo Fisher Scientific Inc. (U.S.), Illumina, Inc. (U.S.), QIAGEN N.V. (Netherlands), F. Hoffmann-La Roche Ltd. (Switzerland), Agilent Technologies, Inc. (U.S.), NanoString Technologies, Inc. (U.S.), HTG Molecular Diagnostics, Inc. (U.S.), Agendia Inc. (U.S.), Personalis, Inc. (U.S.), Exact Sciences Corporation (U.S.), and Tempus Labs, Inc. (U.S.).
Cancer/Tumor Profiling Industry Overview: Latest Developments from Key Industry Players
- In May 2023, Thermo Fisher Scientific Inc. (U.S.) launched the Orbitrap Astral mass spectrometer, which combines high sensitivity, fast throughput, and deep proteome coverage, allowing researchers to identify new clinical biomarkers and develop new interventions from cardiovascular disease to cancer.
- In March 2023, Thermo Fisher Scientific Inc. (U.S.) collaborated with Arsenal Biosciences, Inc. (U.S.), a clinical-stage cell therapy company operating in solid tumor therapies for developing advanced manufacturing processes for new cancer treatments.
- In March 2023, Illumina, Inc. (U.S.) partnered with Myriad Genetics, Inc. (U.S.) to expand the partnership for broadening the accessibility and availability of oncology homologous recombination deficiency (HRD) testing in the U.S. This partnership also opened new doors for companion diagnostic (CDx) alliance for the pharmaceutical industry, enabling clinical research in gene-based and targeted therapies.
- In September 2022, Illumina, Inc. (U.S.) launched its NovaSeq 6000 Dx, the first FDA-registered and CE-marked in vitro diagnostic (IVD) high-throughput sequencer, along with Illumina Complete Long-Reads, XLEAP-SBS Chemistry, NextSeq 1000/2000 Roadmap, and NovaSeq X Series (NovaSeq X and NovaSeq X Plus).
Cancer/Tumor Profiling Market Research Summary
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Particulars
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Details
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Number of Pages
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270
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Format
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PDF
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Forecast Period
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2024-2031
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Base Year
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2023
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CAGR
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10.9%
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Estimated Market Size (Value)
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$24.70 billion by 2031
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Segments Covered
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By Biomarker Type
- Protein Biomarkers
- Genetic Biomarkers
By Technology
- Next-Generation Sequencing (NGS)
- Polymerase Chain Reaction (PCR)
- In-situ hybridization (ISH)
- Immunohistochemistry (IHC)
- Other Technologies
(Note: Other technologies include immunoassays, microarrays, mass spectrometers, Sanger sequencing, pyrosequencing, and fragment analysis)
By Application
- Clinical Applications
- Research Applications
By Cancer Type
- Breast Cancer
- Colorectal Cancer
- Lung Cancer
- Prostate Cancer
- Lymphoma
- Leukemia
- Cervical Cancer
- Other Cancer Types
(Note: Other cancer types include bladder cancer, melanoma, kidney cancer, stomach cancer, ovarian cancer, thyroid cancer, and head & neck cancers)
By End User
- Pharmaceutical & Biopharmaceutical Companies
- Hospitals & Diagnostic Laboratories
- Academic & Research Institutes
- Contract Research Organizations (CROs)
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Countries Covered
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North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, India, and Rest of Asia-Pacific), Latin America and Middle East & Africa
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Key Companies
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The key players operating in the global cancer/tumor profiling market are Thermo Fisher Scientific Inc. (U.S.), Illumina, Inc. (U.S.), QIAGEN N.V. (Netherlands), F. Hoffmann-La Roche Ltd. (Switzerland), Agilent Technologies, Inc. (U.S.), NanoString Technologies, Inc. (U.S.), HTG Molecular Diagnostics, Inc. (U.S.), Agendia Inc. (U.S.), Personalis, Inc. (U.S.), Exact Sciences Corporation (U.S.), and Tempus Labs, Inc. (U.S.).
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Key questions answered in the cancer/tumor profiling market report:
