Cancer profiling market revenues surpassed US$ 900 million in 2018, according to Fact.MR’s latest study. Long-term prospects also appear optimistic, with Fact.MR projecting a CAGR of nearly 5% through 2031.
Steadily rising opportunities in cancer profiling market can be attributed to,
- Increasing disease burden of cancer worldwide
- Significant economic burden associated with cancer diagnosis and treatment
- Growing R&D investments to develop effective cancer diagnostics
- Increasing importance of precision medicine adoption and reliance of cancer profiling
According to the study, cancer profiling market revenues continue to remain consolidated in North America. Of the estimated new cases, breast cancer accounts for over 15% and colorectal cancer for about 8% new cases. As breast and colorectal cancers are few of the leading causes of death in North America, collectively they register nearly 70% of total regional cancer profiling revenues.
For more insights into the Market, Request a Sample of this Report https://www.factmr.com/connectus/sample?flag=S&rep_id=358
The study estimates that Europe represents the second most significant demand for cancer profiling and accounts for over four fifth of the global revenues. Rising incidences of cancer, EU’s proactive efforts to promote cancer screening and use of best practices to improve the quality are responsible for the significant investments in cancer profiling space in Europe.
Fact.MR finds that APEJ will register significant utilization of cancer profiling in coming years on the back of rising awareness and adoption of improved tools for cancer identification.
Breast Cancer Accounts for Nearly Half the Cancer Profiling Revenues
According to the study, breast cancer is expected to take maximum advantage of cancer profiling as compared to other cancer types. After lung cancer, breast cancer is the second most leading cause of new cancer cases.
Globally, national governments are actively engaged in generating awareness regarding the prevention and diagnosis of breast cancer. As cancer profiling applications remain higher in breast cancer diagnosis, a significant fall in breast cancer mortality shows promising diagnosis and improved treatment.
Colorectal cancer is also categorized among one of the leading causes of new cancer cases and cancer deaths. The study finds that followed by breast cancer, a significant utilization of cancer profiling can be observed in colorectal cancer.
Cancer profiling constitutes utilization of multiple technologies, of which immunohistochemistry (IHC) and Fluorescent In Situ Hybridization (FISH) are the most reliable technologies preferred by oncologists. Fact.MR reveals that FISH systems register leading revenues in the cancer profiling market, followed by IHC. FISH is the most commonly used technique for cancer profiling among researchers and for cancer diagnosis. Lower cost and higher sensitivity of IHC can be attributed to its significant adoption in cancer profiling.
Fact.MR study estimates that hospitals account for a significant share of the cancer profiling market followed by diagnostic centers. Increasing establishments of multi-speciality hospitals with in-house diagnostic centers are driving the growth of cancer profiling market in hospitals. A considerable utilization of cancer profiling is also found in research laboratories and cancer research institutes.
The cancer profiling marketplace is marked by hefty investments oriented at robust biomarker development to expand cancer profiling capabilities. Lengthy clinical trials present another milestone wherein tedious authorization process of FDA engages significant investments of stakeholders.
“Increasing prevalence of debilitating cancers across the developing world is prompting governments to bolster advanced cancer diagnostics and treatment research, prompting increased penetration of cancer profiling solution providers across these market. Opportunities are aplenty across India and China, the regions with the world’s highest population base,” remarks a Fact.MR analyst.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global cancer profiling market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of product (instruments and consumables), indication (breast cancer, colorectal cancer, ovarian cancer, melanoma, kidney cancer, lung cancer (including NSCLC), and rare cancers), and end user (hospitals, diagnostic centers, cancer research institutes, and others), across seven major regions (North America, Latin America, Europe, CIS & Russia, Japan, APEJ, and MEA).
For More Valuable Information on Regional Market Dynamics, Request Customization! https://www.factmr.com/connectus/sample?flag=RC&rep_id=358
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. We have offices in US and Dublin, whereas our global headquarter is in Dubai. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Reach out to us with your goals, and we’ll be an able research partner.
US Sales Office:
11140 Rockville Pike
Rockville, MD 20852
Tel: +1 (628) 251-1583
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
Fact.MR is an independent, pure play market intelligence firm incorporated with an objective to deliver high quality, customized market research solutions that help our clients successfully go to the market equipped with actionable insights capable of impacting crucial business decisions.
M: +1 (628) 251-1583