The global cancer/tumor profiling market is projected to grow at a CAGR of 10.7%

The global cancer/tumor profiling market is projected to grow at a CAGR of 10.7%.

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Jan 10, 2018, 02:32 ET

NEW YORK, Jan. 10, 2018 /PRNewswire/ -- Read the full report: https://www.reportlinker.com/p04450353

Global cancer/tumor profiling market is projected to reach USD 8.74 billion in 2022 from USD 5.26 billion in 2017 at CAGR of 10.7%. The cancer/tumor profiling market is primarily driven by the increasing number of cancer cases, growing utility of biomarkers in tumor profiling, and availability of funding for cancer research.

In addition, the introduction and adoption of point-of-care diagnostic tests and development of personalized medicine are expected to offer growth opportunities for manufacturers of cancer/tumor profiling solutions. However, high capital investments and low benefit ratio of biomarkers are restraining the growth of this market.

The immunoassays segment is expected to account for the largest share in 2017.
On the basis of technology, the global cancer/tumor profiling market is broadly divided into immunoassays, hybridization, NGS, mass spectrometry, and other technologies. In 2017, the immunoassays segment is expected to account for the largest share of the cancer/tumor profiling technologies market.

The high sensitivity and cost-effectiveness of these techniques as well as technological advancements in these immunoassays tests are factors that are expected to propel the growth of this market in the coming years. Furthermore, the hybridization technology is again divided on the basis of type which includes PCR, in-situ hybridization, and microarrays. The PCR segment is expected to account for the largest market share of hybridization technology in 2017.

PCR is one of the most widely used technologies in the diagnostics market. This is primarily due to its ease of use, cost-effectiveness, quick turnaround time (4 to 6 hours), and easy availability of kits and reagents.

The clinical application segment is expected to account for the largest share in 2017.
Based on application, the cancer/tumor profiling market is categorized into clinical application, and research application. In 2017, the clinical application segment is expected to account for the largest share of the cancer/tumor profiling market. Technological advancements and the need for early diagnosis are further aiding market growth in this segment.

North America is expected to account for the largest share in 2017.
Among the four regions, North America is expected to account for the largest share of the cancer/tumor profiling market in 2017, followed by Europe, APAC, and the RoW. The large share of the North American market is mainly attributed to the increasing government support for discovery and development of biomarkers, increasing demand for personalized medicine, adoption of advanced omics technologies for biomarker discovery, and rising use of biomarkers in drug discovery and development by pharmaceutical companies in that region.

Break-up profile of primaries:
• By Company Type- Tier 1-45%, Tier 2-34% and Tier 3-21%
• By Designation- C-level-14%, D-level-10% and Others-76%
• By Region- North America-40%, Europe-32%, Asia Pacific-20%, and RoW-8%

The cancer/tumor profiling market is dominated by established players such as Illumina (US), QIAGEN (Netherlands), NeoGenomics Laboratories (US), HTG Molecular Diagnostic (US), and Genomic Health (US).

Research Coverage:
The cancer/tumor profiling market in this report is segmented by cancer type, application, technology, and region. The study tracks and analyzes competitive developments such as product launches, collaborations, agreements, partnerships, and acquisitions, and profiles key players and core competencies in the cancer/tumor profiling market.

Reasons to buy this report:
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on portfolios offered by the top players in the global cancer/tumor profiling market. The report analyzes the market by function, solution, end user, and region
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and product launches in the global cancer/tumor profiling market
• Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for global cancer/tumor profiling products across regions
• Market Diversification: Exhaustive information about new products, untapped geographies, and recent developments in the global cancer/tumor profiling market
• Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of the key players in the global cancer/tumor profiling market

Read the full report: https://www.reportlinker.com/p04450353

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