Genomic Cancer Panel & Profiling Market to Grow with a CAGR of 9.43% through 2029

Rising biotechnological advancements is expected to drive the Global Genomic Cancer Panel & Profiling Market in the forecast period 2024-2029.

According to TechSci Research report, “Genomic Cancer Panel & Profiling Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029F”, the Global Genomic Cancer Panel & Profiling Market stood at USD 9.95 billion in 2023 and is anticipated to grow with a CAGR of 9.43% through 2029.

The Global Genomic Cancer Panel & Profiling Market is undergoing significant growth and transformation, driven by advancements in precision medicine and genomic technologies. This market focuses on analyzing genomic alterations associated with cancer to tailor personalized treatment approaches. Genomic cancer panels, composed of gene sets linked to various cancer types, enable clinicians to identify specific mutations, copy number variations, and other genetic irregularities within a patient's tumor. This data is crucial for customizing therapies, predicting treatment outcomes, and understanding the genetic basis of cancer.

Next-Generation Sequencing (NGS) technologies play a key role, enabling comprehensive and high-throughput genomic profiling. The market's expansion is fueled by the increasing global cancer incidence, highlighting the demand for precise diagnostic tools. Additionally, the integration of artificial intelligence and machine learning assists in deciphering complex genomic data, facilitating more accurate and expedited insights.

Collaborations between biotechnology firms and research institutions drive innovation and the development of comprehensive genomic profiling solutions. These partnerships advance understanding of cancer biology and facilitate the identification of novel therapeutic targets. The market is witnessing a shift towards liquid biopsy techniques, offering non-invasive and real-time monitoring of cancer-related genetic changes. Approaches such as the analysis of circulating tumor DNA (ctDNA) in liquid biopsies contribute to early detection, treatment monitoring, and assessment of minimal residual disease.

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The Global Genomic Cancer Panel & Profiling Market is segmented into tissue testing, cancer panel type, cancer type, application, technology, end user, regional distribution, and company.

Based on cancer panel type, Multi-Gene Panel dominated the market in 2023.This is ascribed due to their comprehensive approach in analyzing multiple genes simultaneously. These panels provide a holistic view of the genomic landscape, enabling the identification of various mutations, copy number variations, and genetic abnormalities associated with different cancer types. Clinicians prefer multi-gene panels for their efficiency in delivering a broad spectrum of information from a single test, aiding in accurate diagnosis and personalized treatment decisions. The versatility of these panels, covering diverse genetic alterations, aligns with the complex nature of cancer, making them a preferred choice for comprehensive genomic profiling in oncology.

The continuous evolution of genomic technologies has led to the development of more sophisticated and targeted genomic cancer panels. These panels cover a broader range of genetic alterations, including single nucleotide variants, copy number variations, and structural rearrangements. Improved sensitivity and specificity in detecting genetic mutations contribute to the precision of these panels, enabling clinicians to make informed decisions about personalized treatment strategies. Furthermore, the integration of advanced bioinformatics tools and computational algorithms enhances the analysis and interpretation of vast genomic datasets. This not only expedites the identification of potential therapeutic targets but also supports the growing trend of integrating artificial intelligence into genomic data analysis. Overall, advancements in genomic technologies propel the Global Genomic Cancer Panel & Profiling Market towards a future where tailored and targeted cancer treatments based on individual genetic profiles become increasingly commonplace.

Based on Tissue Testing,  the Liquid Tissue Testing segment has emerged as a frontrunner in the Global Genomic Cancer Panel & Profiling Market, showcasing remarkable growth in the forecast period. This trend underscores the profound impact and potential of liquid biopsy techniques in revolutionizing cancer diagnosis and treatment. Liquid biopsy, a minimally invasive procedure that involves analyzing tumor-derived materials circulating in bodily fluids such as blood, urine, or saliva, has gained significant traction in recent years. Unlike traditional tissue biopsies, which often entail surgical procedures and may not always be feasible for certain patients, liquid biopsies offer a less invasive and more accessible alternative. The ability to detect and analyze circulating tumor DNA (ctDNA), circulating tumor cells (CTCs), and other biomarkers present in bodily fluids has opened new avenues for early cancer detection, monitoring treatment response, and predicting disease progression.

One of the key drivers propelling the growth of the Liquid Tissue Testing segment is its unparalleled potential in providing real-time, dynamic insights into the molecular landscape of cancer. By capturing the genetic heterogeneity of tumors and monitoring their evolution over time, liquid biopsies enable clinicians to tailor personalized treatment strategies with greater precision and efficacy. This paradigm shift towards precision oncology, fueled by advancements in genomic technologies and bioinformatics, has reshaped the diagnostic and therapeutic landscape of cancer care. The Liquid Tissue Testing segment offers several advantages over conventional tissue-based approaches. It eliminates the need for invasive surgical procedures, reduces patient discomfort, and enables serial monitoring of disease progression and treatment response. Liquid biopsies hold promise for overcoming the spatial and temporal limitations associated with tissue biopsies, which may fail to capture the full extent of tumor heterogeneity and clonal evolution.

Furthermore, the rising prevalence of cancer worldwide, coupled with the growing demand for non-invasive diagnostic solutions, has spurred investment and innovation in liquid biopsy technologies. Companies are investing heavily in research and development to enhance the sensitivity, specificity, and clinical utility of liquid biopsy assays, driving the adoption of liquid tissue testing across diverse clinical settings.

Major companies operating in Global Genomic Cancer Panel & Profiling Market are:

• Agilent Technologies, Inc
• ARUP Laboratories Inc 
• Burning Rock Biotech Limited 
• U.S. Caris MPI, Inc. 
• Danaher Corporation
• Exact Sciences Corporation
• F. Hoffmann-La Roche Ltd
• Fulgent Genetics Inc. 
• Illumina, Inc.
• Thermo Fisher Scientific Inc.

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“The Global Genomic Cancer Panel & Profiling Market is driven by increasing cancer incidence, fueling the demand for precise diagnostic tools. Advances in precision medicine, particularly genomic technologies like Next-Generation Sequencing, contribute to comprehensive genomic profiling. Collaborations between biotechnology firms and research institutions foster innovation and the identification of therapeutic targets. The integration of artificial intelligence enhances data interpretation. Liquid biopsy techniques, emphasizing non-invasive monitoring, further drive market growth. The focus on early detection and personalized treatment strategies propels the adoption of genomic cancer panels, making them instrumental in shaping the future of cancer care”, said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

“Genomic Cancer Panel & Profiling Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented 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, Others), 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, Others), By Region and Competition, 2019-2029F”, has evaluated the future growth potential of Global Genomic Cancer Panel & Profiling Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Genomic Cancer Panel & Profiling Market.

 

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