Global Cancer/Tumor Profiling Market: Overview
Cancer is a life-threatening disease differentiated by uncontrolled cell growth. It is mostly caused by environmental reasons that alter the gene encoding responsible for cell regulation. The consequential cell mutation results in abnormal cell growth that devastates the neighboring normal tissue and then extends the disease to very important organs. Cancer/tumor profiling is done to get knowledge about cancer profile & genomic alterations of a patient that help physicians to direct a patient with most suitable therapy. In addition, profiling also assists physicians to eliminate therapies that are doubtful to be doing well and hence, decreases the mistakes and trial procedures.
Global Cancer/Tumor Profiling Market: Growth Factors
The various factors responsible for the growth of global cancer/tumor profiling market include the growing digit of cancer incidences across the world, accessibility of expenditure for cancer research, huge capital funds, the growing usage of biomarkers, and low benefit ratio for biomarkers utilized in cancer/tumor. The growing need for point-of-care diagnostic tests and personalized medicine in cancer/tumor profiling are anticipated to provide a broad range of growth opportunities for the players market.
Global Cancer/Tumor Profiling Market: Segmentation
Global cancer/tumor profiling market can be segmented on the basis of application, technology, technique, and region. The application segment of the market can be divided into diagnostics, personalized medicine, prognostics, biomarker discovery, and research applications. The technology segment of the market is classified into in-situ hybridization, quantitative polymerase chain reaction, next-generation sequencing, and immunohistochemistry. The technique segment of cancer/tumor profiling market is diversified into metabolomics, genomics, epigenetics, and proteomics. Regionally, the global market is grouped into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
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Global Cancer/Tumor Profiling Market: Regional Analysis
North America and Europe are expected to dominate the market for global cancer/tumor profiling in the coming period. The growth of these regions can be attributed to factors such as increasing prevalence of patients suffering from cancer, encouraging government plans that are concentrated toward appropriate diagnosing and screening, the existence of a huge number of technology suppliers, and accessibility of enhanced research & development. Asia Pacific region is also anticipated to boost the market in the near future owing to the better buying power of patients, increasing frequency of cancer, and economic improvements. Furthermore, the increasing need for cost-effective and safe therapeutics and diagnostics are also propelling cancer/tumor profiling market in this region.
Global Cancer/Tumor Profiling Market: Competitive Players
The key players in global cancer/tumor profiling market include Illumina Inc., HTG Molecular Diagnostic, QIAGEN N.V., Boreal Genomics, Inc., Caris Life Sciences, Genomic Health, Inc., and Life Technologies Corporation. The other prominent players in the market are Oxford Gene Technology Ltd., Nanostring Technologies, Precision Therapeutics, Inc., Ribomed Biotechnologies, Precision Therapeutics, Inc., Oncopath Laboratory, and Neogenomics Laboratories.