Cancer-Tumor Profiling Technologies Market: Advances in Precision Cancer Medicine to Necessitate Incresed Investments
Cancer has been a persistent challenge in the healthcare sector and has been a prominent cause of fatality worldwide. According to the reports furnished by Centers for Disease Control and Prevention, new instances of cancers are expected by 2020. New cancer instances are likely to shoot up by 24% and 21% in men and women respectively in the US alone, claims the study. Some of the potential propellants of cancers are directly attributed to lifestyle.
The size of the global market for Cancer-Tumor Profiling Technologies is expected to reach USD 31.67 billion by 2030, expanding at a compound annual growth rate (CAGR) of 11.8%.
According to a recent report by World Health Organization (WHO) cancer is attributed to cause enormous deaths across the globe. Around 9.6 million deaths occurred in 2018 owing to various cancers. Low and mid income countries are at higher risks of cancer deaths due to multiple contributing factors such as deficient treatment facilities and adequate awareness on the same. Additionally, soaring instances of infections such as hepatitis and human papilloma virus are directly linked to cancer prevalence. WHO further states that some of the leading cancer types include, breast, lung, skin, prostate, and stomach amongst others.
Several studies opine that tobacco smoking significantly leads to cancers. Additionally, several health conditions such as persistent weight gain and obesity are also contributing thoroughly towards cancer instances. Several studies affirm the role of obesity and weight gain in triggering several cancers. It is at par with tobacco smoking in causing several cancers. Several abnormalities in obese population can lead to cancers of several types. Some of the significant abnormalities are ectopic fat storage besides others.
Obesity and fat deposition significantly raise chances of breast, kidney, pancreatic, and esophageal cancers. Excess of visceral fat deposition interferes with hormonal balance in the body such as estrogen and insulin secretion. Aforementioned factors offer rife grounds for advances in cancer/tumor profiling technologies, thereby pushing the market towards renewed growth.
Cancer/tumor profiling technology is an elaborate set of laboratory tests to identify certain types of gene alterations, protein sequences, and other varied biomarkers from a tumor sample to understand disease prognosis. Cancer/tumor profiling technologies are crucial in designing apt therapeutic pattern to control and treat cancers in order to diminish fatality, besides improving quality of life amongst survivors.
UCL Researchers Hit upon Novel Genetic Profiling Technology to Predict Lung Cancer
R&D in cancer profiling technologies is a significant milestone to achieve success in timely diagnosis and eventual therapeutic journey. Several research institutes are directing resources towards adequate and timely detection with the aid of novel technologies. In a recent development, UCL (University College London) researchers assessed the functional scope of molecular profiling in cancer detection with the help of precancerous lesions identification.
According to researchers only half of the total precancerous lesions progress into full grown cancers, while the remaining ones can remain benign. However, identifying potential risk lesions is quite tedious owing to their stark similarities. In a landmark development, UCL researchers have successfully orchestrated a unique molecular profiling analysis technique to differentiate the lesions in order to aid in cancer diagnosis followed by effective therapeutics. Therefore, this new development are likely to aid in developing novel screening mechanisms and treatment opportunities that can effectively limit lung cancer prevalence considerably.
Roche Ascertain FoudationOne’s Revolutionary Cancer/ Tumor Detection Technology
Personalized therapeutics is taking over standard treatment mechanisms in diverse cancer therapeutic approaches. Several frontline drug companies are increasingly focussing on developing novel personalized treatment to identify and decide ideal therapeutic mechanism to limit cancer progression and associated mortality.
Personalized cancer treatment analyzes a patient's genetic profile and tumor growth patterns. Owing to its higher potency in cancer diagnosis and eventual treatment, companies are investing in advanced diagnostic approach. In this line, Roche has recently made an announcement about the successful launch of its novel cancer/tumor diagnosis mechanism, under the brand, FoundationOne CDx a brainchild creation of Foundation Medicine, Inc. which was acquired by Roche.
This novel cancer/ tumor profiling technology has also bagged the mandatory FDA approval for empowering personalized cancer therapeutics involving ovarian cancer. FoundationOne CDx is essentially a genomic profiling diagnostic examination that aids in identifying BRCA1 and 2 gene mutations under somatic and germline formats.
The test is certainly a breakthrough scientific advancement as ideal cancer/tumor profiling technology as contemporary diagnostic aids help in in only germline BRCA gene alterations, unlike FoundationOne CDx which enables both. This recent development is envisioned to aid in rapid identification of ovarian cancers amongst women, thereby substantially improving therapeutics and survival ratios.
One noteworthy advantage of FoundationOne CDx insists Roche is that it helps in optimum capturing of cancer biomarkers thereby helping physicians and clinicians decide the best therapeutic route with a single testing format, thus substantially offsetting the limitation of limited available of cancer samples. Factors as such are likely to lead steadfast adoption of FoundationOne CDx as a novel cancer diagnosis approach, furthering enhancing growth opportunities in global cancer/tumor profiling technologies market.
Caris Lifesciences Joins Forces with Peer Drug veterans to Accelerate Cancer Diagnosis for Early Treatment
Further in cancer/tumor profiling technology, Caris Life sciences has affirmed its successful collaboration with Debiopharm International to accelerate development of cancer based companion diagnostic. The diagnostic aid is under development has been pioneered by Swiss Biopharmaceuticals. Caris Life sciences has agreed to incorporate its proprietary molecular intelligence transcriptome platform to identify rare fibroblast growth factor lesions. This new development is estimated to benefit cancer/tumor profiling technology in multiple ways.
This particular diagnosis technology had received FDA approval besides bagging Breakthrough Device certification. This particular MI transcription technology helps i identifying abnormal gene fusions of solid tumors. Thus the developments are gigantic leaps in advancing cancer/tumor profiling technologies space.
For improved and systematic market analysis, the global cancer tumor profiling technologies market is stratified into diverse segments. Following is a snapshot of some of the most prominent segments in global cancer tumor profiling technologies market.
By Technology Type: global cancer tumor profiling technologies market
- Next Generation Sequencing (NGS)
- Polymerase Chain Reaction (PCR)
- In-Situ Hybridization (ISH)
- Mass Spectrometry
By Cancer Type: global cancer tumor profiling technologies market
- Breast cancer
- Lung cancer
- Colorectal cancer
- Prostate cancer
In forthcoming years, breast cancer segment is accounted to reckon tremendous growth potential at the backdrop of rampant prevalence of breast cancers globally.
Cancer-Tumor Profiling Technologies Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2030||USD 31.67 billion|
|Growth Rate||CAGR of 11.8 % during 2022-2030|
|Segment Covered||By Technique, By Technology, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Lucence Health Inc., F. Hoffmann-La Roche Ltd, Caris Life Sciences, ACT Genomics Co., LTD, Thermo Fisher Scientific Inc., Strand Life Sciences, IMB Dx, Inc., Illumina, Inc., Guardant Health, QIAGEN, Ribomed Biotechnologies Inc., HTG Molecular Diagnostics, Inc., NanoString, NeoGenomics Laboratories|
By Biomarker Type: global cancer tumor profiling technologies market
- Genetic Biomarkers
- Protein Biomarkers
By Application: global cancer tumor profiling technologies market
- Biomarker discovery
- Personalized Medicine
- Treatment & Monitoring
Regional Outlook: cancer tumor profiling technologies market
On the basis of regional diversification, the cancer tumor profiling technologies market is demarcated into:
- North America
- Latin America
Besides lucrative outlook across developed economies in global cancer/tumor profiling market, APAC is expected to emerge as a notable growth hub owing to improved healthcare infrastructure and significant cancer oriented R&D expeditions. Additionally, drug companies are also investing tangibly in the region to cash on untapped market opportunities, thereby meeting diverse unmet needs. Factors as such are poised to position APAC lucratively in global cancer/tumor profiling market in the coming years.
List of Major Players
Some of the potential forerunners in global cancer tumor profiling technologies market comprise Ribomed Biotechnologies, Inc.Guardant Health, Inc., NanoString Technologies, Inc., Genomic Health Inc., NeoGenomics Laboratories, Inc., Illumina, Inc., HTG Molecular Diagnostics, Inc.Caris Life Sciences, NanoString Technologies, Inc., and Sysmex Corporation besides several other prominent names.
Key Market Movements
- Rising instances of cancer worldwide lends palpable impetus towards development of novel cancer/tunor profiling technologies
- R&D expeditions and vital funding scemes to trigger vital breakthroughs in cancer diagnosis
- Drug companies invest towards developing novel diagnostic aid compatible with precision cancer drugs
- Ovarian, lung, and breast cancers likely to be more managable with novel cancer/tumor profiling technologies
- Besides developed economies, emerging countries in Asia are expected to remain potential growth hubs
Key Study Deliverables
• Market valuation in terms of value and volume of the cancer tumor profiling technologies market through the forecast span, 2019-25
• Comprehensive market evaluation across major regions based on market segmentation
• A thorough rundown on market dynamics such as drivers, threats, challenges, opportunities
• A clear analytical review of competition spectrum, highlighting industry forerunners, company as well as product portfolios
• Major highlights on winning marketing strategies adopted by leading players