Cancer profiling market revenues surpassed US$ 900 million in 2018, according to Fact.MR’s latest study. Growing at a subdued 4% y-o-y, the study foresees absolute opportunity of over US$ 36 million in 2019. Steadily rising opportunities in cancer profiling market can be attributed to,
- Increasing disease burden of cancer worldwide
- Significant economic burden associated with cancer diagnosis and treatment
- Growing R&D investments to develop effective cancer diagnostics
- Increasing importance of precision medicine adoption and reliance of cancer profiling
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According to the study, cancer profiling market revenues continue to remain consolidated in North America. Of the estimated new cases, breast cancer accounts for over 15% and colorectal cancer for about 8% new cases. As breast and colorectal cancers are few of the leading causes of death in North America, collectively they register nearly 70% of total regional cancer profiling revenues.
The study estimates that Europe represents the second most significant demand for cancer profiling and accounts for over four fifth of the global revenues. Rising incidences of cancer, EU’s proactive efforts to promote cancer screening and use of best practices to improve the quality are responsible for the significant investments in cancer profiling space in Europe.
Fact.MR finds that APEJ will register significant utilization of cancer profiling in coming years on the back of rising awareness and adoption of improved tools for cancer identification.
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Breast Cancer Accounts for Nearly Half the Cancer Profiling Revenues
According to the study, breast cancer is expected to take maximum advantage of cancer profiling as compared to other cancer types. After lung cancer, breast cancer is the second most leading cause of new cancer cases.
Globally, national governments are actively engaged in generating awareness regarding the prevention and diagnosis of breast cancer. As cancer profiling applications remain higher in breast cancer diagnosis, a significant fall in breast cancer mortality shows promising diagnosis and improved treatment.
Colorectal cancer is also categorized among one of the leading causes of new cancer cases and cancer deaths. The study finds that followed by breast cancer, a significant utilization of cancer profiling can be observed in colorectal cancer.
The Fact.MR report tracks the cancer profiling market for the period 2018-2028. According to the report, the cancer profiling market is projected to grow at 4.7% CAGR through 2028.
Chapter 1 – Executive Summary – Global Cancer Profiling Market
The cancer profiling market report commences with the chapter of executive summary. The highlighted numbers in executive summary provides the readers with a quick yet informative look of the cancer profiling market. In addition to market summary, the chapter also covers information such as megatrends and opportunity assessment in the cancer profiling market.
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Chapter 2 – Market Overview
In the market overview chapter, the cancer profiling market report provides information on cancer profiling definition and introduction of the cancer profiling market. The chapter also discusses scope of the cancer profiling market report.
Chapter 3 – Market Dynamics
In this chapter of the cancer profiling market report, study of market dynamics in terms of market drivers, restraints, opportunities and trends is provided. The assessment of the cancer profiling market is carried out for the historical period 2013-2017 and forecast period 2018-2028. The chapter also covers economic factors that influence the product demand, forecast factors and their impact analysis.
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