Genomic Cancer Panel and Profiling Market Driven by Increasing Demand for Early Cancer Detection and Targeted Therapy Solutions

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Genomic Cancer Panel and Profiling Market - (By Tissue Testing (Solid Tissue Testing, Liquid Tissue Testing), By Cancer Panel Type (Single-Gene Panel, Multi-Gene Panel), By Cancer Type (Lung Cancer, Breast Cancer, Colon Cancer, Prostate Cancer, Other Cancers), By Application (Clinical, Research), By Technology (Next-Generation Sequencing (NGS), Polymerase Chain Reaction (PCR), Fluorescence In-Situ Hybridization (FISH), Immunohistochemistry (IHC), Others), By End User (Hospitals, Clinical and Diagnostic Laboratories, Research and Academic Institutes)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Genomic Cancer Panel and Profiling Market is valued at US$ 9.29 Bn in 2022, and it is expected to reach US$ 18.69 Bn by 2031, with a CAGR of 8.38% during the forecast period of 2023-2031.

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Genomic cancer panels and profiling involve the comprehensive analysis of a patient's tumor DNA to detect genetic mutations and alterations associated with cancer onset and progression. This in-depth genomic data is instrumental in facilitating early cancer detection and supports the development of individualized treatment plans. The rising demand for genomic cancer panels is largely attributed to their significant role in advancing precision oncology. As the global prevalence of hereditary cancers increases, these diagnostic tools are gaining prominence due to their high accuracy in identifying inherited genetic abnormalities linked to cancer. Despite their growing adoption, the market faces several challenges, including suboptimal storage infrastructure, a growing emphasis on immunotherapy over genetic testing in certain treatment protocols, and limited accessibility to quality biospecimens, all of which may impede industry expansion.

List of Prominent Players in the Genomic Cancer Panel and Profiling Market:
• Agilent Technologies, Inc.
• ARUP Laboratories
• Burning Rock DX
• Caris Life Sciences
• Thermo Fisher Scientific, Inc.
• Danaher Corporation (Integrated DNA Technologies, Inc.)
• Exact Sciences Corporation
• F. Hoffmann-La Roche Ltd
• Fulgent Genetics
• Genecast Biotechnology Co., Ltd
• Illumina, Inc.
• Invitae Corporation
• QIAGEN N.V.
• NeoGenomics, Inc.
• Sysmex Corporation
• HTG Molecular Diagnostics, Inc.
• Predictive Oncology, Inc.
• NanoString Technologies, Inc.
• Guardant Health, Inc.
• Foundation Medicine
• Genscript Biotech Corporation
• Tempus Labs
• Hologic, Inc.
• Others

Market Dynamics:
Drivers-
The growing demand for genomic cancer panels and profiling is largely fueled by significant advancements in oncology biomarker research and clinical molecular diagnostics. The identification of novel therapeutic targets and pharmacological interventions has played a critical role in driving market expansion. Biomarkers are integral to clinical research, serving essential functions in disease diagnosis, the formulation of personalized treatment strategies, and the identification of surrogate endpoints. In recent years, there has been an intensified emphasis on improving biomarker sensitivity and specificity through extensive scientific and clinical investigations across multiple therapeutic domains. Owing to their demonstrated efficacy in enabling accurate cancer diagnosis, the application of biomarkers in cancer and tumor profiling is anticipated to expand further in the coming years.

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Challenges:
The genomic cancer panel and profiling market faces several key challenges that may impede its growth trajectory. Chief among these are the high costs associated with biomarker discovery, production, and clinical validation. The transition from biomarker discovery to clinical application requires rigorous and time-intensive validation processes, which frequently lag behind initial research developments. Moreover, the elevated cost of genomic profiling tests restricts accessibility for a large portion of the patient population, limiting widespread adoption. A shortage of skilled professionals further complicates implementation, particularly in developing regions where standardized testing protocols are lacking. The impact of the COVID-19 pandemic, including lockdowns and contact restrictions, has exacerbated these issues by delaying routine cancer diagnostics. Additionally, a temporary reduction in false-positive results during the pandemic contributed to a significant decline in cancer diagnoses, further affecting market performance.

Regional Trends:
North America is projected to dominate the genomic cancer panel and profiling market in terms of revenue share, supported by substantial investments in research and development and a growing incidence of cancer cases requiring precision diagnostics. The region benefits from advanced healthcare infrastructure and a strong emphasis on personalized medicine. Europe also holds a significant share of the market, driven by technological innovation, economic stability, and increasing demand for targeted cancer therapies. Contributing factors to regional growth include improvements in healthcare systems, expanded applications of genomic profiling across a variety of cancer types, and accelerated efforts in drug discovery and clinical development.

Recent Developments:
• In April 2023, Agilent Technologies Inc. has introduced the Agilent SureSelect Cancer CGP Assay, specifically developed for the analysis of genetic variations in various types of solid tumors. The design of the pan-cancer test was formulated using a Next-Generation Sequencing (NGS) panel. This panel consisted of 679 genes that were carefully selected from prominent cancer databases worldwide. The development of this panel was done in collaboration with recognized clinical cancer researchers. The test workflow demonstrated high efficiency, allowing for automation and adaptability, hence increasing the accessibility of tumor molecular profiling to a wide range of clinical researchers.
• In March 2022, Illumina, Inc. has introduced TruSightTM Oncology (TSO) Comprehensive (EU), a novel assay that examines several tumor genes and biomarkers to uncover the precise molecular characteristics of a patient's cancer. The in vitro diagnostic (IVD) kit was initially introduced in Europe, serving as a valuable tool for guiding precision medicine choices for cancer patients throughout the continent.

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Segmentation of Genomic Cancer Panel and Profiling Market-
By Tissue Testing-
• Solid Tissue Testing
• Liquid Tissue Testing
By Cancer Panel Type
• Single-Gene Panel
• Multi-Gene Panel
By Cancer Type-
• Lung Cancer
• Breast Cancer
• Colon Cancer
• Prostate Cancer
• Other Cancers
By Application-
• Clinical
• Research
By Technology-
• Next-Generation Sequencing (NGS)
• Polymerase Chain Reaction (PCR)
• Fluorescence In-Situ Hybridization (FISH)
• Immunohistochemistry (IHC)
• Others
By End User-
• Hospitals
• Clinical and Diagnostic Laboratories
• Research and Academic Institutes
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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This release was published on openPR.