Global Cancer/Tumor Profiling Market Propelled by Shift towards Point-of-care Diagnostics

web-graphics-oncology-solid-tissue-tumorA new report from Transparency Market Research, titled ‘Cancer/Tumor Profiling Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019,’ states that the global market is expected to expand steadily from 2013 to 2019 owing to technical advancements, the rising investments, and the paradigm shift towards point-of-care diagnostics.

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Cancer is a disease categorized by uncontrolled cell division. The cell aberration leads to irregular cell growth, which destroys the surrounding tissues. The disease can be fatal when it spreads to other vital organs. Cancer diagnosis is done in many ways including medical imaging and screening tests. As per the WHO, cancer is among the leading causes of death. The disease is expected to account for around 11.5 million deaths by 2030 across the globe. Profiling of tumors is carried out to gain knowledge about cancer in patients and also to determine genomic alterations. This guides doctors and physicians to offer the most appropriate therapy to patients. Profiling also helps to avoid the use of therapies which are not likely to be successful and also reduce errors in trial process.

Over the past few years, there has been an increase in the demand for personalized medicine. Personalized medicines are used in early diagnosis, research applications, and disease prognosis. With this, the global cancer tumor profiling market is expected to grow at a steady pace in the years to come. The global cancer tumor profiling market is segmented on the basis of region, application, segment, and technology. By technology, the global cancer tumor profiling market is classified into next-generation sequencing, quantitative PCR, immunohistochemistry, and microarray, and fluorescence/chromogenic in-situ hybridization. Diagnostics, personalized medicines, prognosis, biomarker discovery, and research are some of the popular applications of cancer tumor profiling. The global cancer tumor profiling market is expected to be dominated by the personalized medicines segment in the years to come due to its capacity to treat cancer effectively and minimize the healthcare expenditure.

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Based on segment, the global cancer tumor profiling market is divided into genomics, epigenetics, proteomics, and metabolomics. Based on geography, the global cancer tumor profiling market is classified into Latin America, North America, Europe, Asia Pacific, and Rest of the World. Currently, North America dominates the global cancer tumor profiling market, followed by Europe. The increasing incidence of people suffering from cancer and favorable government policies are predicted to propel the North America cancer tumor profiling market in the years to come. However, Asia Pacific is predicted to register steady growth in the near future owing to the increased purchasing power of people.

Some of the key companies in the global cancer tumor profiling market are Boreal Genomics, Inc., Caris Life Sciences, Illumina, Inc., Neogenomics Laboratories, Nanostring Technologies, Precision Therapeutics, Inc., Genomic Health, Inc., and Oxford Gene Technology Ltd.

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