Cancer/Tumor Profiling Market

[302 Pages Report] The global cancer/tumor profiling market size is projected to reach USD 13.9 billion by 2025 from USD 8.3 billion in 2020, at a CAGR of 10.9% during the forecast period. The increasing incidence of cancer across the globe and the growing use of biomarkers in tumor profiling are the primary growth drivers for this market. In addition, the increase in cancer research and funding initiatives and technological advancements in profiling technologies are also propelling the growth of the cancer/tumor profiling market.

Also, the increasing demand for personalized medicine and the growing need for point-of-care diagnostics is expected to offer significant growth opportunities for market players during the forecast period. On the other hand, the high capital investment required for biomarker discovery and the technical issues with sample collection and storage are the key factors restraining market growth to a certain extent.

Impact of Covid-19 on the cancer/tumor profiling market in the forecast period (2020-2025)

The cancer/tumor profiling market is not expected to be significantly impacted by the COVID-19 pandemic in 2020-2021. Due to the COVID-19 outbreak, there has been a significant drop in cancer testing and diagnosis due to measures and resources implemented towards coronavirus. However, several patients affected with COVID-19 were people with malignancies, due to which cancer has been identified as a risk factor for COVID-19. Research in this area is further undertaken to understand the dynamics of the infection better, which is expected to propel the cancer research field further. On the other hand, we are estimating that the major share of tumor diagnostic and prognostic testing of cancer, along with personalized medicine, will grow at a stable pace in the next five years. There is a huge deferment of treatment schedule of surgeries, radiation therapy, and chemotherapy sessions. Hence, the cancer treatment of surgeries, radiation therapy, and chemotherapy sessions should come to the levels of 2019 by the first quarter of 2021.

Drivers, Restraints, Opportunities, and Challenges in the Cancer/Tumor Profiling Market (2020-2025)

Driver: Increasing incidence of cancer

Rise in cancer incidences is one of the major contributors to market growth in the overall cancer/tumor profiling market. The increasing burden of cancer can be attributed to several factors, including population growth and aging, as well as the changing prevalence of certain causes of cancer linked to social and economic development.

Restraint: Technical issues in sample collection and storage in the cancer/tumor profiling market

Sample collection is one of the key issues faced by service providers, followed by access to these samples. Stringent quality control of these samples is required, and they need to be stored under the right conditions to avoid any loss.

Opportunity: Increasing demand for personalized medicine

Personalized medicine, which has become a core area of research in the healthcare industry, has entered mainstream clinical practice and is changing the way many diseases are identified, classified, and treated. These advancements are particularly evident in the area of oncology.

Challenge: Poor regulatory and reimbursement scenario

Technological advancements have enhanced the development and use of tumor profiling technologies to identify the key attributes of a patient’s disease at an early stage and thus guide the selection of the therapy to benefit a particular patient. The acceptance of biomarker-based tests in clinical applications requires evidence of the biomarker’s clinical validity and utility. This is important not just only to help physicians in the decision-making process but also to achieve regulatory approvals and reimbursements for tests. However, amassing the data necessary to show clinical validity and utility may be a time-consuming and expensive process, which is further complicated by the lack of standard regulations.

The immunoassays segment is expected to account for the largest share of the market, by technology, in 2019

Based on technology, the cancer/tumor profiling market has been segmented into immunoassays, in situ hybridization, next-generation sequencing (NGS), polymerase chain reaction (PCR), mass spectrometry, microarrays, and other technologies. The immunoassays segment accounted for the largest market share in 2019. These assays are used as a gold standard to conduct tumor profiling on a large scale as they help measure the presence and concentration of analytes in a sample. These tests are used for cancer diagnosis, prognosis, and treatment decisions. Moreover, the information gained by these tests in clinical settings helps shorten hospital stays and decrease the severity of illnesses by identifying and assessing the progression of the disease, leading to improved therapeutic choices.

The lung cancer segment is expected to grow at the highest CAGR during the forecast period

Based on cancer type, the cancer/tumor profiling market has been segmented into breast cancer, lung cancer, colorectal cancer, prostate cancer, melanoma, and other cancers. In 2019, the breast cancer segment accounted for the largest share of the cancer/tumor profiling market, followed by lung cancer. The high prevalence of breast cancer across the globe is the major factor contributing to the large share of this segment. However, the lung cancer segment is expected to register the highest during the forecast period. The increasing incidence of lung cancer worldwide and the rising need for early diagnosis are supporting the growth of this segment.

The protein biomarker segment is expected to grow at the highest CAGR during the forecast period

Based on biomarker type, the cancer/tumor profiling market is segmented into genetic biomarkers, protein biomarkers, and other biomarkers. In 2019, the genetic biomarkers segment accounted for the largest share of the cancer/tumor profiling market. The large share of this segment can be attributed to the high adoption of these biomarkers during cancer diagnosis and prognosis and in the biomarker discovery process. On the other hand, the protein biomarkers segment is estimated to grow at the highest CAGR during the forecast period majorly due to the increasing adoption of proteomic methods for biomarker research to improve the drug development process. They also showcase the enormous potential for directing personalized cancer therapy and treatment monitoring.

Research to account for the largest share of the market, by application, in 2019

Based on applications, the cancer/tumor profiling market is segmented into research and clinical applications. The research applications segment accounted for the largest share of the cancer/tumor profiling market in 2019. The large share of this segment is attributed to the increasing focus on biomarker discovery for drug development along with the rapidly growing field of personalized medicine. Additionally, the growing funding for cancer research is propelling the growth of the market.

The APAC market is expected to grow at the highest CAGR during the forecast period

The cancer/tumor profiling market in the Asia Pacific is expected to witness the highest CAGR during the forecast period. Factors such as the high incidence of cancer, growing proteomics and genomics research and increasing research funding, increasing investments by pharmaceutical and biotechnology companies, and growing awareness about personalized therapeutics are expected to drive the growth of this market during the forecast period.

Key Market Players

The prominent players in the Cancer/Tumor Profiling Market are Illumina, Inc. (US), QIAGEN N.V. (Germany), NeoGenomics Laboratories, Inc. (US), HTG Molecular Diagnostics, Inc. (US), Genomic Health Inc. (US), Caris Life Sciences (US), Helomics Corporation (US), NanoString Technologies, Inc. (US), Sysmex Corporation (Japan), Ribomed Biotechnologies, Inc. (US), Guardant Health, Inc. (US), Foundation Medicine (US) Roche Diagnostics (Switzerland), (US), GenScript Biotech Corporation (China), Tempus Labs (US), Boreal Genomics Inc (Canada), Perthera (US), Agendia (US), Omniseq(US), Histogene X (Belgium).

Illumina is a molecular diagnostics company engaged in the development, manufacturing, and marketing of integrated systems for the analysis of genetic variations and biological functions. The company offers a wide range of integrated sequencing and microarray systems, consumables, and analysis tools to accelerate and simplify genetic analysis. The company operates under two units—Product Revenue and Services & Other Revenue. The Product Revenue unit consists of consumables and instruments revenue, while the Services and Other Revenue unit consists of sequencing, genotyping, and instrument service contract revenue.

Scope of the Report:

The research report categorizes the market into the following segments and subsegments:

Cancer/Tumor Profiling Market, by Technology

• COVID Impact on the Market, By Technology
• Immunoassays
• Next-Generation Sequencing
• Polymerase Chain Reaction
• Mass Spectrometry
• In-Situ Hybridization
• Microarrays
• Others 

Cancer/Tumor Profiling Market, by Cancer Type

• Breast Cancer
• Lung Cancer
• Colorectal Cancer
• Prostate Cancer
• Melanoma Cancer
• Other Cancer 

Cancer/Tumor Profiling Market by Biomarker Type

• Genomic Biomarker
• Protein Biomarker 

Cancer/Tumor Profiling Market by Application

• COVID Impact on the Market
• Research
• Biomarker Discovery
• Personalized Medicine
• Clinical Application
• Diagnostics
• Prognostics
• Screening
• Treatment & Monitoring 

Cancer/Tumor Profiling Market, by Region

• COVID Impact on the Market
• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
• Rest of Asia Pacific
• Latin America
• Middle East & Africa

Recent Developments

• In 2020, Illumina’s COVID response: Illumina partnered with IDbyDNA Partner to deliver NGS Infectious Disease solutions. The partnership aims to accelerate NGS’ adoption of clinical infectious disease testing. This partnership also aims to make next-generation software with powerful bioinformatics software that can turn data into actionable insights.
• In 2018, Illumina acquired Edico Genome, a leading provider of data analysis acceleration solutions for NGS, to accelerate genomic data analysis.
• In 2018, Illumina signed an agreement to acquire Pacific Biosciences to integrate Pacific’s sequencing solutions into the company and expand its offering of integrated workflows.
• In 2017, Illumina opened its Solutions Center in the Genopole Campus in France as a customer-training center to support the development of skills for the expanding genomics industry in the country.

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