Growth of the Cancer Tumor Profiling Market - Top Key Players are Illumina, Caris Life Sciences, Helomics, Oxford Gene Technology, HTG Molecular Diagnostics, RiboMed Biotechnologies, Inc.

The changing environment and adoption of unhealthy lifestyle habits, such as tobacco consumption and smoking, exposure to harmful radiations along with other factors have led to a massive increase in the incidence of cancer. As per the World Health Organization, global cancer burden has risen to 9.6 million cancer deaths and 18.1 million new cases in 2018. Further, the American Cancer Society reported that in 2017, approximately 1,688,780 new cancer cases were expected to be diagnosed in the U.S. and as many as 600,920 Americans were expected to lose their lives to cancer in the same year, which translates to 1,650 patients succumbing to cancer per day.

Global Cancer/Tumor Profiling Market Key Players are:
1- Illumina
2- Caris Life Sciences
3- Helomics
4- Oxford Gene Technology
5- HTG Molecular Diagnostics
6- RiboMed Biotechnologies, Inc.

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The International Agency of Research on Cancer has predicted that by 2030, the global cancer burden would grow to 21.7 million new cases, mainly due to the increasing aging population. Cancer is an umbrella term that represents a large group of diseases and there are more than 100 types of cancer. In this disease, multiple types of tissues are affected, which contain different biomarkers. Therefore, to correctly identify these biomarkers for diagnostic purposes, cancer/ tumor profiling is the need of the hour as certain cancer types affect specific sets of genes, which can be extremely helpful in drawing a correct diagnosis.

Cancer is a genetic disease, which is a result of changes that occur in the genes of cells that continue to divide uncontrollably. As cancer affects numerous genes, the need for cancer profiling is being felt, which is done using various technologies, namely microarray, next generation sequencing (NGS), in-situ hybridization (ISH), immunohistochemistry (IHC), and quantitative polymerase chain reaction (qPCR). During 2013-2016, the most popular technology for generating tumor/cancer profiles was the NGS. This can be credited to the immense popularity of this technology among researchers and scientists as it helps in parallelly sequencing millions of fragments per run. It is a high-throughput process which translates into sequencing of thousands of genes at a time. Further, this technology also has the scope of discovering rare or novel variants. Owing to the aforementioned factors, this technology would continue to remain a favorite among end users. This is expected to lead the cancer/tumor profiling market to witness significant growth at a 19.0% CAGR in the coming years, as estimated in a P&S Intelligence study.

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Helomics Corp. and Indivumed GmBH entered into a partnership in 2017 in order to analyze annotated clinical data and human cancer biospecimens from consenting patients worldwide. Other key players in the global cancer/tumor profiling market are HTG Molecular Diagnostics Inc., NeoGenomics Inc., Caris Life Sciences Inc., Oxford Gene Technology, RiboMed Biotechnologies Inc., Illumina Inc., NanoString Technologies Inc., and Genomic Health Inc.

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