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The Cancer/Tumor Profiling Market is expected to reach $24.70 billion by 2031, growing at a CAGR of 10.9% over the forecast period, according to Meticulous Research®. The rise of precision oncology, which focuses on delivering personalized treatments to the right patient at the right time, has been a major advancement in cancer care. Studies between 2001 and 2020 show a 27% decrease in cancer mortality rates, largely due to the adoption of targeted therapies designed to address specific gene mutations responsible for cancer, as opposed to traditional chemotherapy. For instance, since 2020, there have been over 15 FDA approvals for targeted therapies in advanced lung cancer treatment.
The growing adoption of cancer/tumor profiling by oncologists and pathologists is enhancing the identification of actionable biomarkers, allowing for more accurate matching of patients to clinical trials and precision therapies. Key factors driving the market include the increasing cancer prevalence, advancements in multi-omics tumor profiling and cancer research, rising R&D investments by pharmaceutical and biotech companies for biomarker development, government efforts to reduce cancer mortality, and the growing use of biomarkers in tumor profiling.
Leading Companies in the Cancer/Tumor Profiling Market:
Illumina, Inc. (U.S.)
Established in 1998 and headquartered in California, U.S., Illumina provides sequencing- and array-based solutions for genomic and genetic analysis. The company’s Core Illumina segment offers cancer/tumor profiling solutions that streamline profiling and accelerate analysis. Illumina serves government labs, research centers, hospitals, diagnostics labs, and pharma companies across North America, Europe, Latin America, Asia-Pacific, and the Middle East & Africa.
Thermo Fisher Scientific Inc. (U.S.)
Founded in 1956 and headquartered in Massachusetts, U.S., Thermo Fisher provides a range of products and services across pharmaceuticals, biotechnology, agriculture, and healthcare. With over 130,000 employees worldwide, the company operates through four main segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Biopharma Services.
QIAGEN N.V. (Netherlands)
Founded in 1984 and based in Venlo, Netherlands, QIAGEN is a leading provider of sample and assay technologies for molecular diagnostics and research. The company offers over 500 core products across diagnostics, PCR, NGS, and genomic services, with operations in more than 130 countries, including the U.S., China, Germany, and the U.K.
- Hoffmann-La Roche Ltd (Switzerland)
Founded in 1896 and headquartered in Basel, Switzerland, Roche operates in pharmaceuticals and diagnostics, with its Diagnostics division playing a significant role in cancer/tumor profiling. The company offers a broad range of diagnostics solutions and has a global presence, including 23 manufacturing and 29 R&D sites worldwide.
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Agilent Technologies, Inc. (U.S.)
Founded in 1999 and headquartered in California, U.S., Agilent Technologies specializes in life sciences, diagnostics, and applied chemical markets. With operations in over 110 countries, the company has a strong global presence, supported by R&D and manufacturing sites across the U.S., China, Germany, and more.
NanoString Technologies, Inc. (U.S.)
Incorporated in 2003 and based in Washington, U.S., NanoString Technologies focuses on proteomics and genomics, offering solutions for researchers. The company has a strong presence across North America, Europe, and Asia-Pacific, with R&D and manufacturing based in Seattle.
HTG Molecular Diagnostics, Inc. (U.S.)
Founded in 1997 and headquartered in Arizona, U.S., HTG Molecular Diagnostics specializes in drug discovery and precision medicine through transcriptome-wide profiling platform technologies. The company distributes its products directly in the U.S. and through distributors across Europe.
Agendia Inc. (U.S.)
Founded in 2003 and based in California, U.S., Agendia focuses on breast cancer diagnostics, offering genomic insights through its MammaPrint and BluePrint tests. The company serves customers globally, with operations outside the Americas handled by Agendia N.V. in the Netherlands.
Personalis, Inc. (U.S.)
Founded in 2011 and headquartered in California, U.S., Personalis develops genomic tests designed to detect cancer recurrences and guide targeted therapies. The company’s NeXT and ACE platforms provide comprehensive cancer genomic and biomarker insights.
Exact Sciences Corporation (U.S.)
Founded in 1995 and headquartered in Wisconsin, U.S., Exact Sciences offers advanced cancer diagnostics solutions for screening and precision oncology. With operations in the U.S., Canada, Japan, and Europe, the company delivers its Oncotype tests in over 90 countries.
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