Cancer profiling is a method that improves the accuracy of tumor classification and enables the prediction of a patient’s clinical outcome. By identifying genomic alterations, cancer profiling aids in the selection of appropriate cancer treatments, reducing the need for trial and error during diagnosis at various stages. This technique provides more precise and accurate information about the clinical outcomes of cancer. Although several diagnostic tests such as laboratory tests, biopsies, imaging tests, nuclear medicine scans, and lumber punctures are available, they are unable to identify the exact cause of cancer in the early stages, which can lead to over-treatment of cancer patients.
The World Health Organization (WHO) reports that cancer is responsible for almost one out of every six deaths, with a total of 8.8 million deaths worldwide in 2022. With the rising prevalence of various forms of cancer, there is a growing need for precise early-stage diagnosis to identify the root cause.
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The Cancer/Tumor profiling market is anticipated to experience growth as a result of the increasing adoption of cancer profiling in place of traditional diagnostic methods.
In 2017, the Crosson Cancer Institute at St. Jude Medical Center became the 17th member of Caris Life Sciences’ Precision Oncology Alliance (POA), which was created to encourage the proper application of molecular tools for cancer diagnosis and treatment. By joining the POA, the Crosson Cancer Institute will aid Caris Life Sciences in establishing industry standards and optimal procedures to enhance the accuracy and efficiency of cancer treatment through the progression of tumor profiling.
In 2017, EpiVax Inc. introduced EpiVax Oncology Inc. as a precise method for cancer immunotherapy. Using Next-Generation Sequencing (NGS), EpiVax utilized molecular profiling to create therapeutic vaccines for cancer treatment.
On the other hand, Personal Genome Diagnostics Inc. introduced the CancerSELECT 125 test in 2016. This test enables the identification of functional sequence mutations that are specific to tumors in various cancer types with remarkable precision.
The cancer profiling market is anticipated to experience growth as a result of the rising incidence of cancer and the growing need for precise early-stage cancer diagnosis.
A report by the American Cancer Society (ACS) revealed that in 2016, approximately 1,685,210 new cases of cancer were detected, and an estimated 595,690 cancer-related deaths were reported in the United States. In addition, the World Cancer Research Fund International (WCRFI) reported that in 2012, an estimated 14.1 million cancer cases were diagnosed worldwide, with 7.4 million men and 6.6 million women affected. WCRFI also predicts that by 2035, the number of cancer cases worldwide will rise to approximately 24 million.
In addition, Cancer Research UK reported that in 2014, approximately 356,860 individuals were diagnosed with cancer, with breast, prostate, and lung or bowel cancer being the most frequently occurring types. This data indicates a rise in the occurrence and prevalence of cancer worldwide, which is predicted to be the primary driving force behind the growth of the cancer profiling market in the foreseeable future.
The growth of the cancer profiling market is anticipated to be boosted in the foreseeable future due to numerous organizations and foundations, such as the World Health Organization’s Cancer Preventive Program, the National Cancer Control Program, and the Prevent Cancer Foundation, working towards raising awareness about cancer at local, state, and global levels.
Some of the leading companies, including RiboMed Biotechnologies Inc., Proteome Sciences PLC, Genomic Health Inc., Life Technologies Corporation, NeoGenomics Laboratories, Agendia, Oxford Gene Technology Ltd., BioTheranostics, Oncopath Laboratories, and Illumina, Inc., are operating in the global cancer profiling market.
- The therascreen PIK3CA RGQ PCR Kit was launched by QIAGEN in May 2019, following its approval by the USFDA as a companion diagnostic tool to assist in the identification of breast cancer patients.
- NeoGenomics Laboratories partnered with QIAGEN in May 2019 to provide a companion diagnostic test for PIK3CA mutation detection in advanced breast cancer patients with HR+/HER2, using QIAGEN’s therascreen PIK3CA RGQ PCR test.
- Edico Genome, a prominent provider of data analysis acceleration solutions for next-generation sequencing (NGS), was acquired by ILLUMINA, Inc. in May 2018 with the aim of hastening genomic data analysis.
- HTG Molecular Diagnostics, Inc. and Oncologie, Inc. formed a partnership in August 2018 to collaborate on the creation of biomarkers linked to Oncologie’s Immuno-oncology pipeline.
- Personal Genome Diagnostics Inc., a prominent company offering advanced cancer genome testing products and services, introduced the PlasmaSELECT 64 targeted panel for pan-cancer tumor profiling in October 2016. This panel can identify sequence mutations and structural alterations that are clinically actionable and functionally significant across various types of cancer without requiring invasive biopsies.
𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐓𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐩𝐨𝐫𝐭 𝐖𝐢𝐭𝐡 𝐔𝐩 𝐓𝐨 𝟐𝟓% 𝐎𝐅𝐅 @ https://www.coherentmarketinsights.com/insight/buy-now/967
Segmentation of the Cancer/Tumor Profiling Market
Based on the type of technology
- Immunohistochemistry (IHC)
- Quantitative Polymerase Chain Reaction (QPCR)
- Next-Generation Sequencing (NGS)
- In Situ Hybridization (ISH)
- Chromogenic In Situ Hybridization (CISH)
- Fluorescence In Situ Hybridization (FISH)
Based on the type of technique
Based on the type of application
- Personalized Medicine
- Biomarker Discovery
- Others (Research Applications)
Based on the type of geographical region:
- Latin America
- North America
- Asia Pacific
- The Middle East
Table of Contents with Major Points:
- Key Findings
- Definitions and Assumptions
- Definition of Cancer/Tumor Profiling Market
- Market Dynamics
- Trends and Developments
- Key Emerging Trends
- Key Developments Mergers and Acquisition
- New Product Launches and Collaboration
- Partnership and Joint Venture
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
Qualitative Insights Impact of COVID-19 on Global Cancer/Tumor Profiling Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Data Sources
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