March 8, 2019 by Steve Blade
Cancer profiling has emerged as one of the leading approaches used in identification, prognosis, research analysis and treatment of various cancers. Various approaches such as proteomics, genomics, and metabolomics are being used in cancer profiling. Also, precision medicine treatment is being adopted on a large scale in order to analyze individual genetic profiles and offer personalized treatments. Moreover, cancer is the focus of precision medicine. Moreover, around 631 cancer therapies are in the global oncology research and development pipeline.
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Next-generation sequencing in the cancer profiling is helping in identifying multiple tumor mutations. Many cancer centers have already adopted next-gen sequencing-based genetic profiling using target gene capturing. Oncologists across the world are using cancer profiling method along with the rise in adoption of cancer biomarkers for tumor profiling. Moreover, factors including point-of-care diagnostic test, and rising demand for personalized medicine is offering opportunities for leading companies in the cancer profiling market.
As per the research report compiled by Fact.MR, the global cancer profiling market is expected to witness strong growth, registering 17.7% CAGR during the forecast period 2017-2026. By the end of 2026, the global cancer profiling market is estimated to reach US$ 122,129.6 million revenue. Increasing incidences of new cases of cancer are resulting in the rising use of cancer profiling. As per National Cancer Institute, new cancer cases are likely to reach 22 million within next two years. Moreover, increasing adoption of precision medicine treatment is also driving the demand for cancer profiling. Below are the few insights on how the global cancer profiling market will perform in the coming years.
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Forecast Highlights on Global Cancer Profiling Market
The report has also profiled leading players in the global market for cancer profiling, which will remain active through 2026. These include companies such as Roche Holdings, Caris Life Sciences, GenScript, Illumina, Inc. (U.S.), Proteome Sciences PLC, BioTheranostics, NeoGenomics Laboratories, RiboMed Biotechnologies Inc., Genomic Health Inc., Oxford Gene Technology Ltd., and Agendia.