Global Cancer Profiling Market Outlook to 2031: Growth Insights with Illumina, Qiagen, Thermo Fisher, and Roche

The global cancer profiling market has experienced substantial gains during the historical period of 2016 to 2020. According to Fact.MR, the market surpassed US$ 900 million revenue in 2018, expanding at an annual growth rate of 4%. Absolute opportunity worth US$ 36 million was generated in 2019.

Past growth is primarily attributed to heightened research & development initiatives undertaken by governments, research institutions, and healthcare professionals to introduce state-of-the-art therapeutic and profiling approaches. Moreover, increasing regulatory approvals by government entities have helped augment the sales of cancer profiling tests. The rising global cancer burden has made personalized medicine and genomic testing key tools for effective and early treatment strategies.

Browse Full Report: https://www.factmr.com/report/358/cancer-profiling-market

Market Segmentation

The cancer profiling market is segmented based on product, cancer indication, test type, end user, and region.

By product, the market is divided into instruments and consumables. Instruments such as sequencing platforms and PCR machines are essential in laboratories for high-throughput profiling, while consumables-like reagents, assay kits, and probes-contribute to recurring revenues due to frequent usage.

By indication, the market includes breast, colorectal, ovarian, melanoma, kidney, lung, and rare cancers. Breast and lung cancers currently dominate in terms of testing volumes, supported by rising awareness, established screening protocols, and strong investments in targeted therapies. Rare cancers are also gaining attention due to advancements in next-generation sequencing (NGS), enabling better diagnostic insights.

By test type, common methods include immunohistochemistry (IHC), in situ hybridization (ISH), and molecular profiling techniques such as NGS and PCR-based assays. NGS is becoming the preferred method due to its ability to analyze multiple genetic markers simultaneously.

By end user, the market includes hospitals, diagnostic labs, research institutes, and biotechnology companies. Hospitals and diagnostic labs dominate due to the clinical adoption of genomic testing for treatment planning. Meanwhile, research institutions continue to be key contributors to innovation in cancer profiling technologies.

Growth Drivers

A range of factors is propelling the global cancer profiling market forward. Rising cancer incidence worldwide is a major driver, leading to increased focus on early detection and personalized medicine. The shift toward precision oncology-where treatment is tailored to a patient's unique cancer profile-has accelerated demand for advanced diagnostic techniques. Additionally, technological advancements such as AI-integrated genomic platforms and affordable sequencing have made profiling more accessible.

Governments and private organizations are also increasing investments in cancer research. Strategic collaborations between pharmaceutical and diagnostic companies are further enabling companion diagnostic development, helping clinicians choose optimal treatment regimens based on a patient's tumor profile.

Regional Outlook

North America dominates the global cancer profiling market, led by the United States, due to robust healthcare infrastructure, widespread awareness, favorable reimbursement policies, and early adoption of new technologies. Europe follows closely, driven by strong public health programs and increasing availability of targeted therapies.

Asia Pacific is witnessing rapid growth, fueled by rising cancer cases, growing medical tourism, and expanding genomics research in countries like China, India, and Japan. Latin America and the Middle East & Africa are emerging markets that are gradually investing in molecular diagnostics and healthcare modernization.

For More Insights into the Market, Request a Sample of this Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=358

Competitive Landscape and Key Players

The cancer profiling market is moderately consolidated, with key players focusing on innovation, regulatory approvals, and strategic partnerships to strengthen their market position.

Key players include:

Illumina, Inc.
Thermo Fisher Scientific
F. Hoffmann-La Roche Ltd
Qiagen N.V.
Agilent Technologies
Myriad Genetics
Bio-Rad Laboratories
GE Healthcare

These companies are continuously working on expanding their test portfolios and enhancing technological capabilities to deliver more accurate and faster profiling solutions. Strategic collaborations with pharma firms for companion diagnostics and expanding into emerging markets are common strategies.

Recent Developments

Illumina has expanded its NGS platform offerings to allow more cost-effective and scalable cancer profiling solutions for clinical settings.
Thermo Fisher Scientific announced the launch of new oncology panels designed for liquid biopsy-based cancer detection.
Roche has received additional FDA approvals for its tissue-based cancer diagnostic tests, enhancing its footprint in precision oncology.
Qiagen is investing in bioinformatics platforms to better support clinicians in interpreting complex genetic data.
These developments highlight a strong focus on innovation, improved diagnostics, and the transition toward precision medicine in cancer care.

Conclusion: Profiling Market Poised for Transformational Growth

With cancer becoming an increasingly complex global health challenge, cancer profiling is emerging as a critical component of modern oncology. As demand for personalized therapies grows, the integration of genomic insights into clinical workflows will continue to shape the future of cancer care. Backed by ongoing technological advancement, expanding healthcare access, and proactive market strategies by leading players, the global cancer profiling market is set for robust growth over the next decade.

Check out More Related Studies Published by Fact.MR:

Microtome Knife Sharpeners Market
https://www.factmr.com/report/1161/microtome-knife-sharpeners-market
Pulmonary Needles Market
https://www.factmr.com/report/1171/pulmonary-npulmonary-needles-market
Kick Bucket Market
https://www.factmr.com/report/1180/kick-bucket-market
Veterinary Suture Kit Market
https://www.factmr.com/report/1222/veterinary-suture-kit-market

Contact:
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232
Email: sales@factmr.com

About Fact.MR
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client's satisfaction.

This release was published on openPR.