The Cancer/Tumor Profiling Market is poised to witness substantial growth, projecting a robust Compound Annual Growth Rate (CAGR) of 20.9% and an estimated market value exceeding $22.3 billion by 2030, according to a recent report by Meticulous Research®. The evolution of precision oncology, marked by the alignment of the right treatment with the right patient at the right time, has significantly propelled cancer care, contributing to a 27% decline in cancer mortality rates from 2001 to 2020.
Precision Oncology Revolution: The success in reducing mortality rates is primarily attributed to the adoption of targeted therapies, addressing specific gene mutations driving cancer. This marks a departure from the traditional one-size-fits-all approach of chemotherapy. Notably, targeted treatments for advanced lung cancer have seen a substantial increase, with over 15 FDA approvals since 2020.
Adoption of Cancer/Tumor Profiling: Oncologists and pathologists are increasingly turning to cancer/tumor profiling to enhance their capabilities in identifying actionable biomarkers. This enables precise matching of patients for clinical trials and precision therapies, marking a paradigm shift in cancer treatment.
Market Drivers: The growth of the cancer/tumor profiling market is propelled by factors such as the increasing prevalence of cancer, advancements in multi-omics tumor profiling and cancer research, rising R&D investments by pharmaceutical and biotechnology companies for biomarker development, government initiatives aimed at reducing cancer mortality, and the utilization of biomarkers in tumor profiling.
Top 10 Companies in the Cancer/Tumor Profiling Market: Here are the leading companies driving innovation in the Cancer/Tumor Profiling Market: https://meticulousblog.org/top-10-companies-in-cancer-tumor-profiling-market/
1. Illumina, Inc. (U.S.)
• Core Illumina segment offers cancer/tumor profiling solutions.
• Global distribution in North America, Europe, Latin America, Asia-Pacific, and the Middle East & Africa.
2. Thermo Fisher Scientific Inc. (U.S.)
• Operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Biopharma Services.
• Geographical presence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
3. QIAGEN N.V. (Netherlands)
• Provides sample and assay technologies for molecular diagnostics and research.
• Global market presence in more than 130 countries.
4. F. Hoffmann-La Roche Ltd (Switzerland)
• Engaged in Pharmaceuticals and Diagnostics divisions.
• Global presence in the U.S., Germany, Switzerland, Japan, China, India, and more.
5. Agilent Technologies, Inc. (U.S.)
• Offers application-focused solutions to life sciences, diagnostics, and applied chemical markets.
• Geographical presence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
6. NanoString Technologies, Inc. (U.S.)
• Focuses on proteomics and genomics solutions.
• Global presence in North America, Europe, and Asia-Pacific.
7. HTG Molecular Diagnostics, Inc. (U.S.)
• Specializes in advanced drug discovery and transcriptome-wide profiling.
• Sales presence in Austria, Belgium, France, Germany, Luxembourg, the Netherlands, the U.K., and Switzerland.
8. Agendia Inc. (U.S.)
• Molecular diagnostics company focused on breast cancer.
• Global delivery through Agendia N.V. (Netherlands).
9. Personalis, Inc. (U.S.)
• Develops comprehensive genomic tests with actionable insights.
• Serves diagnostics companies, pharmaceutical companies, universities, and more.
10. Exact Sciences Corporation (U.S.)
• Provides advanced cancer diagnostics solutions.
• Operates throughout the U.S., Canada, Japan, and eight European countries.
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Upcoming Industry Insights: For in-depth analysis, including recent financial performance, key products, company strategies, and partnerships and acquisitions, Meticulous Research®'s latest report on the Cancer/Tumor Profiling Market – Global Opportunity Analysis and Industry Forecast (2023-2030) provides comprehensive coverage.
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