Global Cancer Profiling Market Research Report: Forecast (2024-2030)

Market Definition

Cancer profiling involves the study of cancerous genes, proteins, and other biomarkers of patients suffering from several oncological disorders including breast cancer and prostate cancer among others. Cancer profiling services include the usage of advanced technologies for sequencing biomarkers like next-generation sequencing, microarrays, etc. Also, some of the major applications of these services are gene expression analysis, mutation detection, personalized medicine, clinical diagnostics, etc.

Market Insights & Analysis: Global Cancer Profiling Market (2024-30):

The Global Cancer Profiling Market size is estimated to grow at a CAGR of around 11.5% during the forecast period, i.e., 2024-30. The major factors responsible for the market growth include; the rising prevalence of cancer, increasing research on cancer therapies, and the launch of improved technologies for tumor profiling among others. There has been an increase in the number of cancer cases globally, especially across the US, India, etc., as stated by various healthcare organizations like the World Health Organization, the International Agency for Research on Cancer, the Global Cancer Observatory, etc.

Consequently, as cancer cases have been increasing considerably, the need to manage them has also enhanced. Hence, countries, especially the US, India, etc., were taking measures to control cancer cases, which has been leading to increased awareness among patients. This has led to an increased need for tumor profiling testing services across the globe to cater to the demand for early-stage detection and diagnosis services.

Also, it has been observed that global cancer research and healthcare organizations predict that cancer cases are projected to amplify in the coming years, which would further generate the demand for cancer profiling services. The prediction has been based on increasing carcinogenic pollutants in the atmospheres responsible for causing cancer, along with the rising prevalence of genetic mutations, which would lead to cancer. For instance,

• As per World Cancer Research Fund International, the new cancer cases are expected to grow to nearly 29 million by 2040, especially across countries with a low Human Development Index (HDI), i.e., countries with low life expectancy, low standard of living and financial wealth, etc.

Additionally, there has been a surging geriatric population globally, which is further projected to grow due to the growing life expectancy, and increasing adoption of healthy lifestyles among them. The increasing geriatric population would further contribute to the rise in the prevalence of cancer disease patients, because, the geriatric population is more susceptible to cancer owing to age-related genetic changes and a weakened immune system. For instance,

• According to the United Nations Department of Economic and Social Affairs, as of 2019, over 0.7 billion individuals were aged 65 or above, and the statistics are anticipated to reach about 1 billion by 2030.

Thus, the incessant surge in the old-age population would further create a need for cancer diagnosis techniques including genetic panels and profiling in the upcoming years.

Global Cancer Profiling Market Driver:

Rising Adoption of Precision Medicine Augmenting Market Growth – Personalized medicines are treatments that are tailored to a patient's unique genetic, environmental, and lifestyle characteristics to deliver targeted & precise therapies. The consumers' growing awareness of personalized medicine's superior efficacy to conventional medicine for cancer treatment has been driving their demand, especially across countries the US, India, the UK, etc.

Along with the rising awareness, the expanding prevalence of cancer like breast cancer, ovarian cancer, etc., across countries like China, Canada, Australia, etc., due to lifestyle, environmental conditions, genetic mutation, etc., is further creating the need for personalized medicines in these countries. Consequently, the advancement of personalized cancer treatments has spurred the expansion of the cancer profiling services market, as these services are essential during the developmental stages for identifying various biomarkers.

In addition, hospitals, and cancer research centers in recent years have been focussing on providing personalized treatment services to their cancer patients. For instance,

• In 2023, the Indian Government and BioNTech SE entered into a memorandum of understanding (MoU), which aims to enhance cancer patients' access to cutting-edge trials and therapies in development and to extend personalized cancer treatments to more patients.

The increased adoption of personalized cancer treatments, which are tailored to an individual's unique genetic makeup and specific cancer type, necessitates detailed profiling of the patient's tumor. Consequently, as the provision of personalized treatment increases across the globe, especially across countries like India, China, the US, etc., it would contribute to an increase in the size of the Global Cancer Profiling Market in the coming years.

Global Cancer Profiling Market Opportunity:

Advancements in Bioinformatics Techniques to Improve Testing Outcome and Support Market Growth – In recent years, companies like Amazon, M2GEN, FOXO Technologies, etc., have been focussing on introducing their upgraded bioinformatics software and services, especially for the oncology market. These services are designed to provide fast, highly reliable, and secure software to process and analyze vast amounts of genomic, and proteomic data.

The introduction of advanced bioinformatics tools and services within the Global Cancer Profiling Market is enabling the expansion of cancer research and diagnostics services across various domains. Notably, companies have recently intensified their efforts in areas such as targeted therapies and drug discovery.

Therefore, with the rollout of advanced bioinformatics services, there is a significant potential for enhancing the efficacy of tumor profiling in cancer research and diagnostics in the foreseeable future. This is mainly because advanced bioinformatics services are expected to streamline operations and reduce turnaround times for market players, presenting them with growth opportunities in the coming years.

Global Cancer Profiling Market Challenge:

High Capital Investment in Biomarker Discovery to Hinder the Market Growth – Biomarkers are an integral part of cancer profiling services, as the development of new cancer biomarkers for different cancer indications paves the way for profiling. Pharmaceutical companies like Theseus Pharmaceuticals, Inc., ‎Nektar Therapeutics, Exact Sciences Corporation, etc., have been facing issues like severe side effects, which have led to the termination of their clinical trial studies for biomarkers.

Hence, the high capital investment and associated chances for clinical trial termination have been affecting the adequate development of new biomarkers. Therefore, this has been affecting the reliability of cancer profiling services for new application areas, which has been negatively affecting the market growth.

Global Cancer Profiling Market Trend:

Introduction of Single Cell Genomics Technique Fueled the Market Growth – The introduction of advanced kits and instruments for the identification of single-cell profiling revolutionized the cancer profiling services market in recent years. The single-cell profiling technologies allow the user to identify a complete study of a single cell, in contrast to providing an average measurement of genomic and proteomic information obtained from traditional techniques.

These techniques allow researchers and healthcare professionals to understand the cellular diversity, and how different cells contribute to the origin of diseases, especially across the oncology segment. Hence, observing this interest of researchers in single-cell technologies, companies like Singular Genomics Systems, Inc., Honeycomb Biotechnologies, 10x Genomics, etc., are introducing their advanced kits and instruments for such studies. For instance,

• In 2023, Singular Genomics Systems, Inc., launched its Max Read™ Kits designed for single-cell applications, which enhances sequencing capacity, achieving an industry-leading 3.2 billion reads per run for benchtop single-cell sequencing.

Hence, the introduction of single-cell sequencing techniques has considerably improved the output of cancer profiling services and has contributed to its improved market growth in recent years. Further, the single-cell techniques are projected to open new arenas of applications of cancer profiling services, which would allow further expansion of their adoption, and would create an opportunity for the growth of the Global Cancer Profiling Market in the coming years.

Global Cancer Profiling Market (2024-30): Segmentation Analysis

The Global Cancer Profiling Market study of MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2024-2030 at the global level. According to the analysis, the market has been further classified as:

Based on Type of Cancer:

• Breast Cancer
• Colorectal Cancer
• Gynecological Cancer
• ‎Leukemia
• Prostate Cancer
• Lung Cancer
• Others (Pancreatic Cancer, Skin Cancer, etc.)

Of them all, the prostate cancer segment has the largest market share in the Global Cancer Profiling Market, which is attributed to the increasing prevalence of the segment globally. Prostate cancer has been one of the most common types of cancer in men, which requires early diagnosis to determine treatment methods for this specific cancer.

Also, in recent years, prostate cancer patients have been observed to largely prefer cancer profiling services for early diagnosis purposes. In addition, patients also seek for these services to avail of personalized treatment for therapeutic purposes. It was mainly attributed to the advanced features of these services, which help to determine dose optimization of treatment drugs and therapies. Therefore, the high incidence of prostate cancer and the growing preference for personalized treatment methods have been contributing to the dominant market share of the prostate cancer segment.

Further, with the rising prevalence of prostate cancer, researchers across countries like the US, Germany, South Korea, etc., have started focussing on this cancer segment. Researchers are trying to develop advanced therapeutic methods to treat prostate cancer, which is projected to result in creating a demand for cancer profiling services among researchers in the coming years as well.

Based on Application:

• Oncology Research
• Precision Medicine
• Clinical Diagnostics
• Others (Prognosis, Monitoring and Recurrence Detection, etc.)

Within this group, oncology research acquires a major share of the Global Cancer Profiling Market. The rising prevalence of chronic cancer diseases, such as breast cancer, prostate cancer, etc., has been propelling pharmaceutical companies & biotech companies like Takeda, Pfizer, etc., to advance their research & development of new drugs & therapies. As a result, the demand for tumor profiling tests has been increasing since these testing services are used at various stages of drug development, such as preclinical testing, clinical trials, and others.

Moreover, the growing need to evaluate the safety & efficacy of these new drugs is also augmenting the requirement for reliable & accurate cancer profiling services. Hence, the rising growth in oncology research for drug development in the biopharmaceutical industry owing to an increasing focus on precision medicine has been driving the Global Cancer Profiling Market.

Further, pharmaceutical companies such as Merck KGaA, Sanofi, etc., are collaborating to develop drugs to minimize or reduce the growing instance of cancer, which would further boost the growth of this segment in cancer profiling market share to support the development & commercialization of these new drugs.

Global Cancer Profiling Market (2024-30): Regional Projections

Geographically, the Global Cancer Profiling Market expands across:

• North America
• South America
• Europe
• Middle East & Africa
• Asia Pacific

Among them, North America has been dominating the Global Cancer Profiling Market over the historical years. This has been mainly attributed to the unhealthy lifestyle of consumers, which has been leading to the rising prevalence of cancer across the region. For instance, in 2020, the American Cancer Society reported that there were around 1.8 million new cancer cases diagnosed in the United States alone. Hence, the need for cancer panels and profiling has improved with a growing cancer burden, which has contributed to the overall growth of the market across the region.

Further, the American Cancer Society has also predicted that the cancer rate is projected to increase across the US in the coming years, which would contribute to the region’s dominance in the market in the coming years as well.

Global Cancer Profiling Industry Recent Development:

• 2023: Caris Life Sciences, a leading molecular science and healthcare innovation company announced that it is conducting four studies covering 14 tumor types, which would allow leveraging blood for precise cancer detection, monitoring, and therapy selection. These discoveries are significant observations, especially in the context of endometrial and prostate cancer.
• 2023: F. Hoffmann-La Roche Ltd (Foundation Medicine) and Natera have introduced an early access program for FoundationOne Tracker, a personalized ctDNA monitoring assay. FoundationOne Tracker, when used alongside imaging, can provide a more comprehensive assessment of treatment response, especially in cases where imaging results are unclear.

Gain a Competitive Edge with Our Global Cancer Profiling Market Report

1. Global Cancer Profiling Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size & share, growth rate, competitive landscape, and key players. This comprehensive analysis helps business organizations to gain a holistic understanding of the market dynamics & make informed decisions.
2. This report also highlights current market trends & future projections, allowing business organizations to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
3. Global Cancer Profiling Industry Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, business organizations can develop strategies to minimize risks & optimize their operations.