Cancer/Tumor Profiling Market is Forecasted to Grow at a CAGR of 19.0% During Forecast Period

The cancer/tumor profiling market size is projected to reach $87.1 billion by 2023. The market is growing mainly due to the increasing number of new cancer cases, rising utility of biomarkers in tumor profiling, rising availability of funding for cancer research and increasing demand for next generation sequencing for cancer profiling. The cancer/tumor profiling market size is projected to reach $87.1 billion by 2023.

Request for Sample Copy of this Research Report:  https://www.psmarketresearch.com/market-analysis/cancer-profiling-market/report-sample

The cancer/tumor profiling market in terms of technology has been segmented into next generation sequencing (NGS), quantitative polymerase chain reaction (QPCR), immunohistochemistry (IHC), in-situ hybridization (ISH), and microarray, based on technology. NGS held the largest share in the cancer/tumor profiling industry, standing at 33.1%, in 2016. This leading position of NGS is mainly characterized by increased awareness about NGS products due to rising promotional activities for these products among the research laboratories and academic institutes. The NGS category is also expected to grow at the highest CAGR during the forecast period.

Europe held the second largest share of 27.7% in the global cancer/tumor profiling market in 2016. The growth in the European market for cancer/tumor profiling is mainly led by growing aging population, increasing prevalence of chronic pain, and neurological disorders and R&D infrastructure. By 2023, the European market for cancer/tumor profiling is expected to cross $23.0 billion dollar, growing at a CAGR of 18.5% between 2017-2023. Among all the European countries, Germany held the largest share in the European cancer/tumor profiling industry and is expected to register a CAGR of 19.3% in the forecast period.

The key players in the cancer/tumor profiling market are collaborating with other firms to expand their market share. In September 2017, Indivumed, GmbH and Helomics Corp. entered into a partnership to analyze human cancer biospecimens and annotated clinical data from consenting patients around the world.

Explore Report at: https://www.psmarketresearch.com/market-analysis/cancer-profiling-market

Some of the other key players operating in the cancer/tumor profiling market include Illumina, Inc., NeoGenomics Inc., Caris Life Sciences, Inc., Oxford Gene Technology, HTG Molecular Diagnostics, Inc., RiboMed Biotechnologies, Inc., QIAGEN N.V. and NanoString Technologies, Inc.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s