Cancer Profiling Industry Registering a CAGR of 5% | Breast Cancer & Non-Small Cell Lung Cancer (NSCLC) to Generate Lucrative Revenue Pools: Fact.MR Analysis

Cancer Profiling Market By Product (Instruments & Consumables), By Indication (Breast Cancer, Colorectal Cancer, Ovarian Cancer, Melanoma, Kidney Cancer), By End User (Hospitals, Diagnostic Centers, Cancer Research Institutes) – Global Market Insights 2021 to 2031

ROCKVILLE, Md., March 16, 2022 (GLOBE NEWSWIRE) — Award winning market research company Fact.MR has recently published the global cancer profiling market report. According to its findings, growth prospects for the current year appear highly positive, fueled by increasing initiatives to promote advanced oncology research. Long-term prospects also appear optimistic, with Fact.MR projecting a CAGR of nearly 5% through 2031.

The market received major tailwinds in the past, registering an absolute opportunity worth US$ 36 million in 2019, expanding at an annual rate of around 4%. Gains were especially evident in the breast cancer segment, attributed to growing approvals of treatment approaches by regulatory bodies. For instance, in 2019, the Food & Drug Administration approved a supplemental new drug application for palbocicib (IBRANCE) to expand approved indications in women with hormone receptor (HR)-positive and HER2-negative metastatic breast cancer (MBC) in combination with a fulvestrant.

Opportunities abound across the lung cancer segment, with prominent cancer profiling testing kit providers vying for targeted therapies. Players such as AstraZeneca are at the forefront of non-small cell lung cancer therapy (NSCLC). The company specializes in offering tissue-based diagnostics and plasma-based (ctDNA) diagnostics. Its approach targets the epidermal growth factor receptor (EGFR), which occurs in 10-15% of NSCLC patients.

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How is Rising Global Cancer Burden Augmenting Demand for Cancer Profiling?
Cancer has emerged as one of the leading causes of death, and a significant impediment to growing life expectancy. The World Health Organization, in 2019, pegged it as amongst the leading causes of fatalities among people below 70 years of age. As per estimates by GLOBOCAN 2020, approximately 19.3 million new cancer cases and nearly 10 million deaths occurred in the previous year.

Female breast cancer surpassed lung cancer, recording 2.3 million new cases (12%), followed by colorectal cancer (10%), prostate (7.3%), and stomach (5.6%). Thus, it can be concluded that, the global burden of cancer incidence and mortality has surged, and will continue to increase in the long run. Thus, governments across the world are investing in extensive cancer eradication programs.

As per the American Cancer Statistics’ estimates, by 2040, global burden is expected to increase to 27.5 million afflictions, with over 16 million expected fatalities. Consequently, advancements have been seen in oncology care, with demand for personalized medicine experiencing a massive incline. Hence, cancer profiling is gaining traction, with specific gene mutation identification and targeted therapies receiving credible nudge.

Key Market Segments Covered
Product

• Instruments
  • Immunohistochemistry (IHC) Analyzers
  • Fluorescence in-situ Hybridization (FISH) Instruments
  • PCR Instruments
  • DNA Sequencer
  • Fragment Analyzer
• Consumables
  • Reagents & Kits
  • Other Ancillary (Probes, Holders, etc.)

Indication

• Breast Cancer
• Colorectal Cancer
• Ovarian Cancer
• Melanoma
• Kidney Cancer
• Lung Cancer (including NSCLC)
• Rare Cancers

End User

• Hospitals
• Diagnostic Centers
• Cancer Research Institutes
• Others

Test

• Immunohistochemistry (IHC)
• Fluorescence in-situ Hybridization (FISH)
• Qualitative Polymerase Chain Reaction (qPCR)
• Next Generation Sequencing (NGS)
• Sanger Testing
• Fragment Analysis

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Competitive Landscape
These aforementioned players rely on a variety of organic and inorganic growth strategies to cement their market presence. Offering new products, forging strategic alliances, acquisitions and mergers with other players, and conducting clinical trials for determining drug efficacy are a few examples.

• For instance, F. Hoffmann La Roche Ltd. presented updated overall survival (OS) data from its Phase III IMbrave 150 study evaluating Tecentriq® (atezolizumab) in combination with Avastin® (bevazicumab) in comparison with sorafenib in people suffering from unresectable hepatocellular carcinoma (HCC) who have not received prior systemic therapy.
• In January 2021, Illumina Inc. announced a series of new and expanded oncology partnerships with Bristol Myers Squibb, Kura Oncology, Myriad Genetics, and Merck, to advance comprehensive genomic profiling. These partnerships were concluded to expand its TruSightTM Oncology 500 (TSO 500) Research Use Only comprehensive pan-cancer assay to profile known and emerging biotumors.
• Recently, February 2021, QIAGEN NV partnered with INOVIO to develop next generation sequencing (NGS) companion diagnostics for the latter’s VGX-3100 for cervical dysplasia treatment. The initial project in this expanded collaboration focuses on the co-development of a diagnostic test that identifies women who are most likely to benefit from clinical use of VGX-3100.

Key Companies Profiled

• F. Hoffmann La Roche Ltd
• Illumina Inc.
• QIAGEN
• Thermo Fisher Scientific Inc.
• Abbott
• Nanostring Technologies Inc.
• Siemens AG
• HTG Molecular Diagnostics, Inc.
• Perkin Elmer Inc.
• Agilent Technologies Inc.
• Negenomics Laboratory Inc.
• Genomic Health
• Biogenex
• Pacific Biosciences of California Inc.

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Why is Next Generation Sequencing Highly Sought-after?
Over the years, cancer prevalence has aggrandized manifold, prompting researchers to discover novel therapeutic approaches. Hence, genomics-focused pharmacology has acquired center stage, providing major traction to next generation sequencing. Compared to conventional approaches, NGS offers greater accuracy, sensitivity and speed.

As NGS can assess multiple gains in a single assay, it eliminates the need to order multiple tests to identify the causative mutation. Furthermore, NGS testing enables mutation detections at as little as 5% of the DNA isolated from a tumor sample. This approach is expected to find applications across major types of cancers, including NSCLC, liver cancer, and breast cancer, among others.

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