Cancer Profiling Market to Reach $87.1 Billion By 2023: P&S Market Research

NEW YORK, Nov. 21, 2017 (GLOBE NEWSWIRE) -- According to the P&S Market Research, global cancer profiling market size is projected to achieve a value of $87.1 billion value by 2023, growing at a CAGR of 19.0% during 2017-2023.

The boost in demand for cancer/tumor profiling products is mainly led by 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 profiling market has been bifurcated 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 profiling market, 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.

ISH is further categorized into fluorescent in situ hybridization (FISH) and chromogenic in situ hybridization (CISH). FISH held the larger share of the ISH technology market in 2016. The higher penetration of this technology is driven by increasing number of players offering FISH in cancer profiling market, such as Abbott Laboratories. FISH is also expected to observe the faster growth in future, with the CAGR likely to stand at 18.6% during the forecast period.

Access Report Summary with Detailed TOC on "Cancer/Tumor Profiling Market" at: https://www.psmarketresearch.com/market-analysis/cancer-profiling-market

The various techniques used in the cancer profiling include genomics, proteomics, epigenetics, and metabolomics. Genomics held the largest share of 40.6% in 2016, and it is also expected to register highest growth during the forecast period, due to increasing implementation of genomic sequencing.

Cancer profiling is used in varied applications such as personalized medicine, diagnostics, biomarker discovery, prognostics, and others. In 2016, personalized medicine held largest share of 36.4% in the cancer profiling market, attributed to subsequent increasing adoption of personalized medicine for tumor profiling, since it is one of the most cost-effective methods. The application is also expected to register fastest growth during the forecast period.

Request to Get the Sample Pages: https://www.psmarketresearch.com/market-analysis/cancer-profiling-market/report-sample

The Asia-Pacific cancer profiling market has been experiencing significant growth due to rising prevalence of cancer, increasing government initiatives for cancer treatment, and rising healthcare expenditure in the region. According to the Indian Council of Medical Research (ICMR), around 14.5 lakhs of new cancer cases were registered in India in 2016, which is likely to reach nearly 17.3 lakh new cases, by 2020. This increase in cancer cases indicates that, the healthcare providers will require more profiling kits, thus increasing the demand for cancer/tumor profiling kits in the region.

Globally, the key providers in the cancer profiling market are launching new products to gain a larger market share. In October 2017, QIAGEN N.V. launched custom solutions business, aimed at providing life sciences and molecular diagnostics companies with the tools and expertise required to quickly build and commercialize products that meet unique workflow requirements. In the same month, the company also launched ipsogen JAK2 RGQ PCR kit, an ipsogen JAK2 assay, an assay used for the detection of the JAK2 V617F/G1849T allele in genomic DNA extracted from EDTA whole blood.

Some of the other key players operating in the cancer profiling market include Illumina, Inc., NeoGenomics Inc., Caris Life Sciences, Inc., Helomics Corp., Oxford Gene Technology, HTG Molecular Diagnostics, Inc., RiboMed Biotechnologies, Inc., Genomic Health, Inc., and NanoString Technologies, Inc.

More Reports by P&S Market Research

Protein Expression Market - https://www.psmarketresearch.com/market-analysis/protein-expression-market

Pharmaceutical Filtration Market - https://www.psmarketresearch.com/market-analysis/pharmaceutical-filtration-market

About P&S Market Research

P&S Market Research is a global market research and consulting company. We provide market research reports, industry reports, business intelligence and research based consulting services across a range of industries.

With the help of our professional corporate relations with various companies, our market research offers the most accurate market forecasting. Our analysts and consultants interact with leading companies of the concerned domain to substantiate every single data presented in our publication.  Our research assists our client in identifying new and different windows of opportunity and frame informed and customized strategies for expansion in different regions.

Contact:

P&S Market Research
347, 5th Ave. #1402
New York City, NY - 10016
Toll-free: +1-888-778-7886 (USA/Canada)
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com

Connect with us: LinkedIn | Twitter | Google + | Facebook