The tumor profiling market continues to flourish under the leadership of top players like Thermo Fisher Scientific, Bio-Rad Laboratories, F. Hoffmann-La F. Hoffmann-La Roche AG Ltd, Agilent Technologies and Illumina. The market concentration remains medium-to-high with substantial growth potential observed due to acceptance of personalized medicine and oncology diagnostics which are gaining more importance. Progress in sequencing, biomarker discovery, and targeted therapies have been contributing to innovation and expansion opportunities for existing companies.
The global tumor profiling market is predicted to reach about USD 11.9 billion by 2025, achieving a CAGR of 8.3% throughout the period, from 2020 to 2025. Key drivers for its growth include increases in the number of personalized treatments, the fast-growing incidence rates of cancer cases, and sophisticated diagnostic technologies that improve precision oncology solutions. Oncomine Comprehensive Assay Plus, for example, is from Thermo Fisher Scientific, marketed in 2023, through which detailed diagnosis is achieved about the tumor's characteristics.
Attribute | Details |
---|---|
Estimated Value by 2025 | USD 11.9 Billion |
CAGR during the period 2020 to 2025 | 8.3% |
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The momentum of personalized medicine and continued progress in the field of oncology diagnostics continues to fuel growth in the market for tumor profiling. Breakthrough innovations in sequencing technologies, improvements in biomarker discovery, and the development of targeted therapy solutions shape the industry. According to WHO, there were more than 19 million new cancer cases in 2022, underlining the critical need for advanced solutions in tumor profiling.
Category | Industry Share (%) |
---|---|
Top 3 Companies (Illumina, Thermo Fisher Scientific, F. Hoffmann-La Roche AG) | 45.2% |
Rest of Top 5 (Agilent Technologies, Bio-Rad Laboratories) | 20.3% |
Others | 34.5% |
Type of Players
Concentration Level | Description |
---|---|
Medium Concentration | The top 10 players, which include Illumina, F. Hoffmann-La Roche AG, and Thermo Fisher Scientific, are those with the best financial robustness and consistent innovation in diagnostic tools. Product diversity among market leaders is seen through Thermo Fisher's "Oncomine Dx Target Test.". |
Expansion Opportunities | The smaller firms, which accounted for 40% of market share, focus on partnerships and acquisitions and, in some innovative niches such as liquid biopsies-a platform like "Galleri", developed by the firm Grail-to gain strategic advantage. |
Company | Key Development |
---|---|
Agilent Technologies | Advanced precision oncology diagnostics, such as "SureSelect Cancer All-In-One Panel," can provide all-round cancer profiling. |
Bio-Rad Laboratories | Next-generation sequencing platforms expanded with technologies like "Droplet Digital PCR" for highly sensitive mutation detection. |
Illumina | Strengthened its portfolio by acquiring GRAIL, expanding capabilities in liquid biopsy for early cancer detection. |
F. Hoffmann-La Roche AG | Enhanced Biomarker-Driven Diagnostics with Solutions such as 'Ventana MMR IHC Panel' for Targeted Therapy Optimization" |
Thermo Fisher Scientific | Innovated with the "Ion Torrent Genexus" system for same-day results, advancing diagnostic precision in oncology. |
Region | North America |
---|---|
Market Share (%) | 45% |
Highlights | Dominance through strong R&D investments and advanced infrastructure. NIH had a budget of 2 billion dollars in 2022 for precision medicine. |
Region | Europe |
---|---|
Market Share (%) | 30% |
Highlights | Advanced healthcare systems ensure that Europe holds a dominant market share. In Germany, adoption of tumor profiling increased by 20% in 2022. |
Region | APAC |
---|---|
Market Share (%) | 20% |
Highlights | Increasing healthcare investments and technology adoption provide significant growth. India saw a 25% CAGR in the use of liquid biopsy in 2023. |
Region | ROW |
---|---|
Market Share (%) | 5% |
Highlights | While gradual, adoption initiatives aim to bolster profiling uptake. Sub-Saharan Africa integrated genomic profiling into large-scale trials for the first time. |
Market growth, adoption rate of advanced diagnostic techniques, customer retention, technological advancements in profiling tools, and regional revenue contribution are the key performance indicators.
Tier | Tier 1 |
---|---|
Market Share (%) | 50% |
Key Companies | The firms leading this segment include those such as Illumina, F. Hoffmann-La Roche AG, and Thermo Fisher. F. Hoffmann-La Roche AG effectively integrates AI diagnostics into its solutions. |
Tier | Tier 2 |
---|---|
Market Share (%) | 30% |
Key Companies | Agilent Technologies and Bio-Rad Laboratories Expand through Strategic Advances in Oncology Agilent Expands Emphasis on Rapid Assay Diagnostics. |
Tier | Tier 3 |
---|---|
Market Share (%) | 20% |
Key Companies | Emerging entities use low-cost innovation to carve niches, such as South Korea's genome analysis solutions. |
Tumor Profiling Market growth will be relatively rapid and increasing due to genomic technological advancements, increased adoption of personal medicine, and AI-based diagnostics. Adoption rates of NGS and liquid biopsy technologies are driving a revolution in cancer care - precise treatment means better outcomes.
The tumor profiling market is transforming rapidly with innovative technologies such as Next-Generation Sequencing (NGS), liquid biopsy, and AI technologies. These developments are driving precision medicine in oncology, increasing the accuracy of diagnosis, and enabling more precise treatments.
Rising cancer prevalence, increased investments in personalized therapies, and expanding regulatory approvals are propelling the market. As demand for accurate and cost-effective solutions increases, this market offers huge opportunities, particularly in emerging regions like APAC.
Definition:
The tumor profiling market includes diagnostic techniques that identify genetic mutations, gene expression patterns, and other molecular biomarkers in cancerous tissues. It has several important product segments, which include:
Research Methodology:
This report combines primary and secondary research. Primary data comes from industry expert interviews, while secondary data is derived from market reports, government publications, and company filings.
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