Cancer/Tumor Profiling Market

Illumina and QIAGEN are the leading players in the Cancer/Tumor Profiling Market

The global cancer/tumor profiling market 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 rising 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.

The cancer/tumor profiling market is highly competitive, with several players competing for a significant market share. The prominent players in this 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), and Foundation Medicine (US). Due to the intense competition in this market, major market players are increasingly focusing on collaborating with other market players and cancer research institutes to strengthen their product offerings and geographic reach. Players are also undertaking product launches aggressively to garner larger market shares.

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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. The company’s customers include leading genomic research centers, academic institutions, government laboratories, and hospitals, as well as pharmaceutical, biotechnology, commercial molecular diagnostic laboratories, and consumer genomics companies. The growth of this segment is mainly driven by the company’s wide presence in the APAC market and continuous growth in the US market. It further focuses on increasing its presence in this market through continuous R&D activities to provide technologically advanced solutions to customers. The company has recently acquired Edico Genome, a leading provider of data analysis acceleration solutions for NGS, to accelerate genomic data analysis in 2018.

QIAGEN is a provider of sample and assay technologies that are used to transform biological materials into valuable molecular information. The company’s product portfolio includes sample and assay technologies, bioinformatics, and automation systems. QIAGEN operates under one operating segment. The company offers advanced diagnostic technologies to diagnose molecular information for patients by using sample preparation, assay kits, and bioinformatics in clinical care. It also provides a broad portfolio of companion diagnostic kits and panels to detect mutations of genes such as KRAS, EGFR, BRAF, BRCA1/2, and others that influence the development of cancers and the efficacy and safety of medicines. QIAGEN also supplies test kits to screen tumors in the tumor profiling market. The company operates and distributes its products in more than 130 countries. The company recently in 2019 collaborated with Inovio Pharmaceuticals Inc. entered into a collaboration with the aim of co-developing a companion diagnostic (liquid biopsy test) for novel immunotherapy targeting precancerous cervical lesions.

Related Reports:

Cancer/Tumor Profiling Market by [Technology (Immunoassay, NGS, PCR, In-Situ Hybridization, Microarray), Cancer Type (Breast, Lung, Colorectal, Prostate, Melanoma)], Biomarker Type (Genomic, Protein), Application, Region - Global Forecast to 2025

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Report Code
MD 4803
RI Published ON
7/13/2020
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