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As per the research report compiled by Fact.MR, the global cancer profiling market is expected to witness strong growth, registering 17.7% CAGR during the forecast period 2017-2026. By the end of 2026, the global cancer profiling market is estimated to reach US$ 122,129.6 million revenue. Increasing incidences of new cases of cancer are resulting in the rising use of cancer profiling. As per National Cancer Institute, new cancer cases are likely to reach 22 million within next two years. Moreover, increasing adoption of precision medicine treatment is also driving the demand for cancer profiling. Below are the few insights on how the global cancer profiling market will perform in the coming years.
Forecast Highlights on Global Cancer Profiling Market
- North America is expected to remain dominant in the global cancer profiling market during the forecast period 2017-2026. Changing lifestyle with increasing consumption of alcohol, smoking is leading to the increasing number of people suffering from cancer. Moreover, increasing investment in research and development activities are driving the demand for cancer profiling in the region.
- Asia Pacific Excluding Japan (APEJ) and Europe are also witnessing significant growth in the cancer profiling. Increasing incidence of lung cancer and prostate cancer in central, eastern, and southern Europe is driving the demand for cancer profiling. Meanwhile, breast cancer is the most diagnosed cancer among women in China and India.
- Next-generation sequencing is expected to be the highly-preferred technique in cancer profiling market. By the end of 2026, next-generation sequencing is estimated to reach 62,000 million revenue.
- Pharmaceutical and biotech companies are expected to be the largest users of cancer profiling. Pharmaceutical and biotech companies are estimated to surpass US$ 52,400 million revenue by the end of 2026.
- Diagnosis is expected to witness significant growth in the global cancer profiling market. By the end of 2026, diagnosis is estimated to surpass US$ 40,000 million in terms of revenue.
Next-Generation Sequencing to Emerge as the Most-Preferred Technique in Cancer Profiling
Next-generation sequencing technique is likely to be the most-preferred cancer profiling technique. Experiencing a solid growth, next-generation sequencing technique is projected to exceed US$ 61,900 million revenue by 2026 end. Owing to the reduced sequencing cost, technology advancements in platforms used for sequencing, and rising awareness on next-generation sequencing services and products, the next-generation sequencing technique will experience growth in the market.
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Pharmaceutical and Biotech Companies to Emerge as the Biggest End-User
Compared to the various end-users of cancer profiling, pharmaceutical and biotech companies are likely to emerge as the biggest users of cancer profiling. Pharmaceutical and biotech companies are projected to create an incremental opportunity surpassing US$ 40,600 million between 2017 and 2026. Factors such as offering better-targeted therapy and medicine for cancer treatment, correct prediction of various types of cancer, and reducing adverse drug reaction by offering correct dosage and formulation are driving the use of cancer profiling by pharmaceutical and biotech companies.
The report also profiles companies that are expected to remain active in the expansion of global cancer profiling market through 2026, which include Agendia, Genomic Health Inc., Oxford Gene Technology Ltd., NeoGenomics Laboratories, RiboMed Biotechnologies Inc., BioTheranostics, Proteome Sciences PLC, Illumina, Inc. (U.S.), GenScript, Caris Life Sciences, and Roche Holdings.
Table of Content:
- Global Economic Outlook
- Global Cancer Profiling Market - Executive Summary
- Global Cancer Profiling Market Overview
3.1.1. Global Cancer Profiling Market Taxonomy
3.1.2. Global Cancer Profiling Market Definition
3.2. Global Cancer Profiling Market Size (US$ Mn) and Forecast, 2012-2026
3.2.1. Global Cancer Profiling Market Y-o-Y Growth
3.3. Global Cancer Profiling Market Dynamics
3.4. Supply Chain
3.5. Cost Structure
3.6. Characteristics of Molecular Profiling Trials
3.7. Three-Tiered Approach for Reporting Biomarkers in Tumor Profiling NGS Tests
3.8. Recent breakthroughs in Cancer Profiling Market
3.9. Patent Analysis
3.10. Treatment Approvals
3.11. Cancer Epidemiology
3.12. PESTL Analysis
3.13. Product Lifecycle
3.14. Service Provider List
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