Attractive Market Opportunities in Cancer Profiling Market Estimate to Grow at a Significant Rate throughout the Forecast Period 2017-2026

Cancer profiling market is witnessing significant growth due to the growing number of cancer cases, increasing use of biomarkers, and the rise in funding for research on cancer. Key players in the cancer profiling market are focusing on new technically advanced product launches, increasing investment in research and development, and partnerships to set footprints globally. Companies are also focusing on developing advanced techniques to identify genomic alteration in order to help in selecting correct therapy in cancer treatment. This FactMR report analyzes the expansion of global CANCER PROFILING MARKET till date, and provides key insights on the growth of the market during the forecast period, 2017-2026.

The scope of FactMR’s report is to analyze the global cancer profiling market for the forecast period 2017-2026 and provide readers an unbiased and accurate analysis. Medical device manufacturers, research institutes, and raw material suppliers in the global cancer profiling market can benefit from the analysis offered in this report. This report offers a comprehensive analysis, which can be of interest to leading trade magazines and medical journals pertaining to cancer profiling.

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Cancer profiling offers information on the gene causing cancer along with the key insights on the mechanism of cancer. The U.S. Food and Drug Administration (FDA) recently approved first-of-its-kind cancer gene profiling. The test looks for mutations in various cancer genes at once, offering a complete profile on driving forces of tumor in patients. The key companies in the cancer profiling are coming up with new products to meet the requirements of life science and molecular diagnostics companies. The market for cancer profiling is also seeing an increase in demand for Next-Generation Sequencing (NGS). Pharmaceutical companies are also using molecular profiling through NSG to produce therapeutic vaccines for cancer.

According to a study by FactMR, the global market for cancer profiling is likely to experience solid growth. The global market for cancer profiling is also projected to bring in US$ 122,129.6 million revenue by 2026 end. Technological advancements, increasing cancer incidences, tumor profiling using biomarkers, the rise in funds for cancer research, are some of the major factors resulting in the growth of cancer profiling market. However, lack of skilled professionals and infrastructure are hampering the growth of the global market for cancer profiling.

Next-generation sequencing technique is likely to be the most-preferred cancer profiling technique. Experiencing a solid growth, next-generation sequencing technique is projected to exceed US$ 61,900 million revenue by 2026 end. Owing to the reduced sequencing cost, technology advancements in platforms used for sequencing, and rising awareness on next-generation sequencing services and products, the next-generation sequencing technique will experience growth in the market.

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Pharmaceutical and Biotech Companies to Emerge as the Biggest End-User

Compared to the various end-users of cancer profiling, pharmaceutical and biotech companies are likely to emerge as the biggest users of cancer profiling. Pharmaceutical and biotech companies are projected to create an incremental opportunity surpassing US$ 40,600 million between 2017 and 2026. Factors such as offering better-targeted therapy and medicine for cancer treatment, correct prediction of various types of cancer, and reducing adverse drug reaction by offering correct dosage and formulation are driving the use of cancer profiling by pharmaceutical and biotech companies.

Cancer Profiling to Find Largest Application in Diagnosis

Cancer profiling is used for research, prognosis, personalized medicine, biomarker discovery. However, cancer profiling is likely to find the largest application in diagnosis. Gaining considerable growth, diagnosis is anticipated to create an absolute dollar opportunity of over US$ 32,200 million between 2017 and 2026. Cancer profiling plays an important role in diagnosis, as it helps physicians in understanding cancer tumor and identifying type of cancer. It also helps in taking appropriate decisions, avoiding ‘over-treatment’ of cancer patients.

Competition Tracking

The report also profiles companies that are expected to remain active in the expansion of global cancer profiling market through 2026, which include Agendia, Genomic Health Inc., Oxford Gene Technology Ltd., NeoGenomics Laboratories, RiboMed Biotechnologies Inc., BioTheranostics, Proteome Sciences PLC, Illumina, Inc. (U.S.), GenScript, Caris Life Sciences, and Roche Holdings.

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