Cancer Profiling Market Is Projecting A CAGR Of Nearly 5% Through 2031

The global cancer profiling market report was recently published by the award-winning market research firm Fact.MR. According to its findings, the current year’s growth prospects appear to be very promising, fueled by increased initiatives to promote advanced oncology research. Long-term prospects appear promising as well, with Fact.MR predicting a CAGR of nearly 5% through 2031.

The market has previously received significant tailwinds, registering an absolute opportunity worth US$ 36 million in 2019, expanding at an annual rate of around 4%. Gains were especially noticeable in the breast cancer segment, which can be attributed to regulatory bodies’ increasing approvals of treatment approaches. For example, in 2019, the Food and Drug Administration approved a supplemental new drug application for palbocicib (IBRANCE) to expand approved indications in women with hormone receptor (HR)-positive and oestrogen receptor (ER)-positive conditions.

To remain ‘ahead’ of your competitors, request for a sample: https://www.factmr.com/connectus/sample?flag=S&rep_id=358

Competitive Landscape

To maintain their market presence, the aforementioned players employ a variety of organic and inorganic growth strategies. Offering new products, developing strategic alliances, acquiring and merging with other players, and conducting clinical trials to determine drug efficacy are just a few examples.

• F. Hoffmann-La Roche Ltd., for example, presented updated overall survival (OS) data from its Phase III IMbrave 150 study, which compared Tecentriq® (atezolizumab) in combination with Avastin® (bevazicumab) to sorafenib in people with unresectable hepatocellular carcinoma (HCC) who had not received prior systemic therapy.
• Illumina Inc. announced new and expanded oncology partnerships with Bristol Myers Squibb, Kura Oncology, Myriad Genetics, and Merck in January 2021 to advance comprehensive genomic profiling. These collaborations were formed in order to broaden the TruSightTM Oncology 500 (TSO 500) Research Use Only comprehensive pan-cancer assay’s ability to profile known and emerging biotumors.
• QIAGEN NV recently announced a collaboration with INOVIO to develop next generation sequencing (NGS) companion diagnostics for the latter’s VGX-3100 cervical dysplasia treatment. The first project in this expanded collaboration is the co-development of a diagnostic test that will identify women who are most likely to benefit from clinical use of VGX-3100.

Key Market Segments Covered

• Product
  • Instruments
    • Immunohistochemistry (IHC) Analyzers
    • Fluorescence in-situ Hybridization (FISH) Instruments
    • PCR Instruments
    • DNA Sequencer
    • Fragment Analyzer
  • Consumables
    • Reagents & Kits
    • Other Ancillary (Probes, Holders, etc.)
• Indication
  • Breast Cancer
  • Colorectal Cancer
  • Ovarian Cancer
  • Melanoma
  • Kidney Cancer
  • Lung Cancer (including NSCLC)
  • Rare Cancers
• End User
  • Hospitals
  • Diagnostic Centers
  • Cancer Research Institutes
  • Others
• Test
  • Immunohistochemistry (IHC)
  • Fluorescence in-situ Hybridization (FISH)
  • Qualitative Polymerase Chain Reaction (qPCR)
  • Next Generation Sequencing (NGS)
  • Sanger Testing
  • Fragment Analysis
• Region
  • North America
  • Latin America
  • Europe
  • CIS & Russia
  • Japan
  • APEJ
  • MEA

Ask an Analyst: https://www.factmr.com/connectus/sample?flag=AE&rep_id=358

Key Market Study Findings

• Non-small cell lung cancer (NSCLC) is expected to grow dramatically through 2031.
• Fluorescence in-situ hybridization (FISH) instruments will sell well.
• The United States will see increased growth as the population’s cancer prevalence rises.
• The United Kingdom will benefit from increased biological research programmes to test diagnostic efficacy.
• Strong institutional frameworks are needed to accelerate oncology research and cancer profiling expansion across Germany.
• India will emerge as a heavyweight in the cancer profiling market, owing to rising prevalence as a result of an exponential population increase.

Will the rising demand for personalised medicine fuel growth?
Patients are demanding more precision-based and efficacious cancer treatments, and personalised medicine is becoming more mainstream. Recent advances in genomics, computational biology, medical imaging, and diagnostic technologies have prompted practitioners to devise novel therapeutic approaches.

TLR9 Agonist plus Immunotherapy and EGFR/HER2 Exon 20 Mutation therapy are two emerging oncology personalised medical treatments. The former approach employs the investigational TLR 9 agonist CMP-001 in combination with pembrolizumab (Keytruda) to reverse resistance to anti-PD1 therapy, a critical treatment procedure in metastatic melanoma.

Contact:
US Sales Office :
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E-Mail: sales@factmr.com