The cancer profiling market was valued at around USD 10.5 billion in 2023, and it will power at a compound annual growth rate of 12.3% by the end of this decade, to touch a total value of USD 23.2 billion in 2030.  

The expansion of the industry has a lot to do with the growing investments in cancer studies and the tech developments in profiling technologies. Also, the growing need for point-of-care diagnostics will offer considerable prospects to the various players of the industry. 

The next-generation sequencing category will have the highest rate in the future. The growth of the category can be attributed to the utility of NGS in competently discovering genetic modifications in numerous kinds of cancers. It also allows the identification of many differentially expressed genes and genetic/epigenetic substitutes as possible targets, for helping in the creation of novel biomarkers for the early examination of the ailment. 

Based on cancer type, the breast cancer category is leading the industry. The supremacy can be attributed to the growing count of research partnerships on breast cancer diagnostics and the high incidence of breast cancer at a global level. 

Based on application, the biomarker discovery is a considerable revenue contributor. This can be attributed to the vast uses of biomarkers in medication discovery & expansion. Basically, the high cancer burden, which endures to grow and cause substantial financial, emotional, and social damage, has spurred strong research in oncology, particularly on biomarkers. 

The proteomics category holds a considerable share in the technique segment. Proteomic profiling is using to measure the levels of numerous proteins in malignant tumors, which is important to gain a thorough comprehending of the ailment, stage it, and devise an efficient treatment regimen. 

The leading share is held by North America, chiefly credited to the mounting acceptance of biomarkers for drug development. At the root of everything, the increasing occurrence of cancer contributes to the ascendency of the region. The existence of a considerable count of global players in this region also plays a key role in consolidating its important position in the cancer/tumor profiling industry. 

The APAC cancer profiling market will have the fastest growth in the years to come. The regional industry is powered by the growing private and government investment in healthcare and rapid tech progressions in oncology because of the widespread research conducted in this field. 

It is because of the increasing investment in cancer studies all over the world, the demand for cancer profiling is on the rise. This trend will continue like this in the years to come as well. 

SOURCE: P&S Intelligence