Pre-detection Reduces Fatal Risk of Cancer
The Cancer profiling market size was valued at $17.750 billion in 2020 and is anticipated to increase at a Compound Annual Growth Rate of 15.67 percent over the predictive period to reach $49.176 billion by 2027.
Cancer profiling is a test that searches for molecular pathways that may be driving a tumor’s growth by looking at unique DNA variations in a patient’s tumor. The idea is to find alternative targeted therapeutic drugs that can function against the routes that have been discovered. For specific cancer types, such as lung cancer, colon cancer, sarcoma, and melanoma, profiling for targeted therapy is more common. This is due to the fact that these malignancies are frequently linked to genetic alterations that react well to targeted therapies.
Growing cancer cases to drive the demand for cancer profiling
Cancer is the biggest cause of mortality globally, with approximately 10 million fatalities expected in 2020, accounting for roughly one in every six deaths, according to the World Health Organisation. Breast, lung, colon, rectum, and prostate cancers are the most frequent cancers. Tobacco use, high BMI levels, alcohol use, low fruit and vegetable intake, and lack of physical activity, account for almost one-third of cancer fatalities. Many such cancers are curable if diagnosed early and treated appropriately. Cancer develops when normal cells convert into tumor cells in a multi-stage process that usually goes from a pre-cancerous lesion to a malignant tumor. Physical carcinogens (ultraviolet and ionizing radiation), chemical carcinogens (asbestos, tobacco smoke components, alcohol, aflatoxin in food, and arsenic in drinking water), and biological carcinogens (asbestos, tobacco smoke components, alcohol, aflatoxin in food, and arsenic in drinking water) interact with a person’s genetic factors to cause these changes (infections from certain viruses, bacteria, or parasites).
The understanding of germline and somatic tumor genetics has increased dramatically in the last two decades, thanks to the publishing of the human genome sequence in 2003 and the application of next-generation sequencing technology since the turn of the century. This is especially effective in the context of targeted cancer therapies, in which we hope to improve outcomes by treating tumors with medications that are tailored to their molecular characteristics. Hundreds of malignancies have been sequenced across 38 tumor types by whole-exome and whole-genome cancer sequencing programs including The Cancer Genome Atlas (TGGA) and the International Cancer Genome Consortium. Cancer profiling is not only effective in the molecular profiling of common malignancies like lymphoma and breast cancer, but also the molecular profiling of lung cancer, prostate cancer, and acute leukemia. The developments in smart technology, nanomedicine, etc have helped in the proper diagnosis of cancer by reducing time delays and accurate identification of cancers. These developments, along with the growing cancer cases are expected to increase the market share of the cancer profiling market.
Inefficient in some cases
Cancer profiling has helped a lot of people in identifying and treating cancer cases. Since time is of the essence in such cases, the diagnosis of certain cancers in early stages could help patients in recovering from such cases.
However, the high upfront costs of setting up profiling units and the requirement for skilled employers are a hindrance to the market. Cancer profiling units are challenging to establish in underdeveloped and developing nations because they lack the necessary financing and equipment. Moreover, people lack awareness of cancer profiling in such countries.
Additionally, cancer profiling results are not always accurate. A positive profiling result may not necessarily mean that a person would develop cancer. Similarly, a negative result does not guarantee that a person would not develop a cancer case. Furthermore, cancer profiling can identify hundreds of cancer types from a person’s DNA. However, targeted therapies only work for a small number of cases, and even if the therapies match, there is no guarantee that the tumor would be responsive to the treatment.
However, with the rapid advancements and developments in the cancer treatment industry, the response rates of therapies are expected to increase substantially in the coming years.
North American Region to lead the market
The North American market is expected to be the largest and fastest-growing market for cancer profiling throughout the forecast period. The market is predicted to grow as a result of factors such as rising cancer rates and regional pharmaceutical breakthroughs. The American Cancer Society estimates a total of 1.9 million new cancer cases and more than 600,000 deaths in 2022. With the increasing number of cancer cases in the region, the market is expected to rise in the region.
Covid-19 Insight
The emergence of the COVID-19 pandemic resulted in a worldwide economic downturn. Most essential sectors have suffered major losses since various governments adopted lockdown measures and social distance rules. The cancer profiling market faced a slowdown in the market since the lockdown measures negatively influenced the routine screening procedures. However, the market was not significantly affected, since patients with COVID-19 are a lot more likely to develop lung cancer instances, due to COVID-19 being a lung disease. Hence, the COVID-19 did slow down the growth in the sector, but with most countries now restarting their industrial operations and lifting lockdown regulations, and with the increasing number of cancer cases around the world, the cancer profiling market is expected to rise.
Global Cancer Profiling Market Scope:
| Report Metric | Details |
| Market size value in 2020 | US$17.750 billion |
| Market size value in 2027 | US$49.176 billion |
| Growth Rate | CAGR of 15.67% from 2020 to 2027 |
| Base year | 2020 |
| Forecast period | 2022–2027 |
| Forecast Unit (Value) | USD Billion |
| Segments covered | Technology, Cancer Type, Application, And Geography |
| Regions covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Companies covered | Illumina, Inc., Qiagen N.V., NeoGenomics Laboratories, Inc., F. Hoffmann-La Roche Ltd, Genomic Health, GE Healthcare, Siemens Healthineers, Thermo Fisher Scientific Inc., Hologic Inc., Bio-Rad Laboratories Inc. |
| Customization scope | Free report customization with purchase |
