Cancer Profiling Market: Introduction
Cancer profiling is an alternative to all traditional approaches to cancer treatment. It uses a focused personalized approach to a treatment that specifically targets an individual patient's tumor. Laboratory tests are carried to identify certain genes or gene mutations (changes), proteins, or other biomarkers in a sample of tumor tissue in order to provide a better, personalized treatment to the cancer patient.
Key Drivers and Restraints of Global Cancer Profiling Market
- Rise in incidence rate of cancer worldwide is the major factor driving the market. Cancer is one of the leading causes of death, globally, after cardiovascular diseases. According to the World Health Organization (WHO), cancer accounts for 8.3 million deaths each year, with 70% new cancer cases expected to be reported over the next 20 years. Increase in cancer afflicted population is anticipated to be a key driver of the market. According to a Centers for Disease Control and Prevention (CDC) report in 2014, the number of cancer patients diagnosed in the U.S. reached approximately 21 million. This number is estimated to reach 25.4 million by the end of 2024. Rising cancer cases boost the demand for early diagnosis or profiling of cancer, which ultimately fuels the market.
- Government funding for continuing research in tumor or cancer diagnostics and profiling is another major factor driving the market. Governments in developed and developing countries are conducting awareness campaigns to encourage people to opt for early diagnosis of cancer in order to reduce mortality and morbidity rate. This, in turn, is projected to boost the cancer profiling market during the forecast period. In April 2016, the U.S. Government assigned US$ 5.2 Bn for the National Cancer Institute (NCI). The budget was improved by 5.3% in comparison with the previous year. NCI conducts clinical trials on cancer patients who require repetitive diagnosis to check the prognosis of cancer.
- Technical issues with sample collection and storage is a key factor that is anticipated to hamper the market. Stringent quality control of these samples is required, and they need to be stored under the right conditions in order to prevent loss.
Next Generation Sequencing Segment to Expand Significantly
- Based on technology, the global cancer profiling market can be divided into: immunoassays, next generation sequencing, polymerase chain reaction, in situ hybridization, microarrays, mass spectrometry, and others
- The immunoassays segment, which includes immunohistochemistry, dominated the global cancer profiling market in 2019, followed by the next generation sequencing segment. Immunoassay is a conventional test that can detect changes at the protein level that occur not only from gene aberrations, most commonly gene amplifications, but also from specific DNA rearrangements or point mutations.
- The next generation sequencing segment is estimated to expand at a significant growth rate during the forecast period. Advances in sequencing technologies, such as whole genome sequencing, have facilitated the simultaneous detection of single nucleotide variants (SNV), copy number variations, and structural rearrangements, such as gene fusions, leading to greater diagnostic yield of actionable findings in tumor samples.
Breast Cancer Segment to Dominate Global Cancer Profiling Market
- Based on cancer type, the global cancer profiling market can be segmented into: breast cancer, lung cancer, prostate cancer, melanoma, and others
- The most commonly diagnosed cancers are prostate in males and breast in females, while lung cancer remains the most common cause of cancer death in both sexes. The breast cancer segment accounted for a major share of the global cancer profiling market, in terms of revenue, in 2019, followed by lung cancer. Rising prevalence of breast cancer across the globe is the major factor fueling the market. According to WHO, in 2018, 627,000 women were estimated to have died from breast cancer, i.e., approximately 15% of all cancer deaths among women.
- On the other hand, the lung cancer segment is estimated to expand at a notable CAGR during the forecast period majorly due to an increase in incidence and need for early diagnosis
Protein Biomarker Witness Highest Growth
- Based on biomarker type, the global cancer profiling market can be divided into: genetic biomarkers, protein biomarkers, and others
- Biomarkers are molecules that indicate normal or abnormal process taking place in the body and may be a sign of an underlying condition or disease. The genetic biomarkers segment held a significant share of the global cancer profiling market in 2019. Tumor-specific genetic changes, such as promoter methylation, gene mutations, or circulating small RNAs, are easily detected by genetic biomarkers.
- However, protein biomarkers hold a strong opportunity to be converted into clinical diagnostic tests. Protein-based immunoassay is a quite rapid and efficient process. Novel proteomic biomarker discovery technologies are being developed using quantitative isotopic labeling, improved mass spectroscopy algorithms, and addressing the problems of sample preparation.
Research Application is estimated to dominate the Global Cancer Profiling Market
- Based on application, the global cancer profiling market can be divided into research application and clinical application
- In terms of revenue, the research application segment accounted for a major share of the market in 2019. Various novel molecular characterization strategies beyond tumor DNA sequencing, such as transcriptomics, immunophenotyping, epigenetic profiling, and single-cell analyses are presently being utilized in cancer or tumor profiling process. Extensive research in technological developments has made a molecular profiling analysis possible, which enables doctors to distinguish molecular differences between cancer cells and healthy cells. Additionally, rise in funding for cancer research is further propelling the market.
North America to Dominate Global Cancer Profiling Market
- In terms of region, the global cancer profiling market can be divided into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- In terms of revenue, North America dominated the cancer profiling market. Increase in incidence of cancer diseases, rising investment in research & development of cancer diagnostics, and continuous mergers & acquisitions between companies contribute to the leading share held by the region. Cancer is a leading cause of death in Canada, and the second-leading cause, after heart disease, in the U.S. According to American Cancer Society approximately 1.9 million new cancer cases and 693,000 cancer deaths were estimated to have occurred in North America in 2018.
- The market in Asia Pacific is projected to expand at a notable CAGR during the forecast period. Focus of local players on enhancing their presence in rural areas of emerging regions of the market, such as India, is increasing. Moreover, demand for efficient diagnosis for various cancers is high. These factors are expected to drive the cancer profiling market in Asia Pacific during the forecast period.
Key Manufacturers Operating in Market
The global cancer profiling market was highly fragmented in 2019. Key manufacturers operating in the global market are:
- Illumina, Inc.
- Qiagen N.V.
- Neogenomics Laboratories Inc.
- HTG Molecular Diagnostics, Inc.
- Genomic Health Inc.
- Caris Life Sciences
- Helomics Corporation
- Oxford Gene Technology
- Ribomed Biotechnologies, Inc.
- Guardant Health
- Foundation Medicine
Cancer Profiling Market: Research Scope
Cancer Profiling Market, by Technology
- Next Generation Sequencing
- Polymerase Chain Reaction
- In Situ Hybridization
- Mass Spectrometry
Cancer Profiling Market, by Cancer Type
- Breast Cancer
- Lung Cancer
- Prostate Cancer
Cancer Profiling Market, by Biomarker Type
- Genetic Biomarkers
- Protein Biomarkers
Cancer Profiling Market, by Application
- Research Application
- Clinical Application
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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