Cancer/Tumor Profiling Market Projected to have a Stable Growth for the Upcoming Yearsby Vijay K. Web Marketing The cancer/tumor profiling market size is projected to reach $87.1 billion by 2023. The market is growing mainly due to the increasing number of new cancer cases, rising utility of biomarkers in tumor profiling, rising availability of funding for cancer research and increasing demand for next generation sequencing for cancer profiling.
The players in the market are developing different biomarkers based on what is to be detected in a patient. For instance, Caris Life Sciences, develops several biomarkers that are based on IHC, that detects the level of protein expression, translocations and fusions, ISH, amplifications, detects gene deletions, NGS, rapidly examines and more broadly detects DNA mutations, copy number variations and gene fusions across the genome, and fragment analysis, that detects changes in RNA or DNA to indicate the absence or presence of genetic marker. Due to this precise detection using biomarkers for the cancer-causing agent, there is an increase in the use of biomarkers for cancer profiling and thereby driving the growth of the cancer/tumor profiling market.
held the second largest share of 27.7% in the global cancer/tumor profiling
market in 2016. The growth in the European market for cancer/tumor profiling is
mainly led by growing aging population, increasing prevalence of chronic
pain, and neurological disorders and R&D infrastructure. By
2023, the European market for cancer/tumor
profiling is expected to cross $23.0 billion dollar,
growing at a CAGR of 18.5% between 2017-2023. Among all the European countries, Germany held
the largest share in the European cancer/tumor profiling industry and is
expected to register a CAGR of 19.3% in the forecast period.
Explore Report at: https://www.psmarketresearch.com/market-analysis/cancer-profiling-market
Some of the other key players operating in the
cancer/tumor profiling market include Illumina, Inc., NeoGenomics Inc., Caris
Life Sciences, Inc., Oxford Gene Technology, HTG Molecular Diagnostics, Inc.,
RiboMed Biotechnologies, Inc., QIAGEN N.V. and NanoString Technologies, Inc.
Created on Jun 13th 2019 06:05. Viewed 15 times.