According to Stratistics MRC, the Global Cancer/Tumor Profiling market is expected to grow from $23.04 billion in 2015 to reach $78.69 billion by 2022 with a CAGR of 19.2%. Increasing cases of cancer and the need for therapy are the major factors influencing the market growth. Moreover, high investments in R&D, technological developments, and demand for safer medicines are the factors fostering the market growth. However, low awareness among clinicians about options and potential of cancer profiling are the major challenges for this market.
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By application, personalized medicines segment leads the market globally with the biggest market share and is expected to grow with a high CAGR during the forecast period. The growth is attributed by unique characteristics of this segment in examining and prognosis of cancer disease. North America commands the market due to the presence of leading cancer profiling industry leaders. Asia Pacific is expected to witness huge growth due to raising incidence of cancer in this region.
Some of the key players in global Cancer/Tumor profiling market include Agendia Nv, Biotheranostics, Boreal Genomics, Inc., Caris Life Sciences, Genomic Health, Inc., Illumina, Inc., Life Technologies Corporation, Nanostring Technologies, Neogenomics Laboratories, Oncopath Laboratory, Oxford Gene Technology Ltd, Precision Therapeutics, Inc., Proteome Sciences Plc, Rational Therapeutics, and Ribomed Biotechnologies.
Fluorescence/Chromogenic In Situ Hybridization
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