The global Cancer/Tumor Profiling Market was valued at $13.30 billion in 2012. At the end of 2013, the market is estimated to be $14.99 billion and is poised to reach around $35 billion by 2018, growing at a CAGR of 18.50% from 2013 to 2018.
The diagnostics, biomarker discovery, and prognosis applications offer vast opportunities for key players in this market. The launch of the first and only FDA-cleared IVDMIA breast cancer recurrence assay "MammaPrint", "ColoPrint" - a microarray-based gene expression profile for predicting the recurrence of stage II and III colon cancer patients, "Oncotype Dx" - a test that examines a breast cancer patient's tumor tissue at a molecular level to give information about a patient's individual disease, has acknowledged the potential of Cancer/Tumor Profiling in diagnostics and prognosis. This scenario is expected to further revolutionize the industry towards massive growth in the next 5 to 10 years.
The global market for Cancer/Tumor Profiling is expected to grow, backed by technological advancements, huge funds, and investments. The market is witnessing a trend towards the development of personalized medicine and point-of-care diagnostic tests for cancer. Additionally, the demand for safe and cost-effective drugs for the treatment of cancer (which can be fulfilled by Cancer/Tumor Profiling therapeutics), will fuel the market growth. However, the market will also experience improvements in biomarker discovery and prognosis areas during the forecast period.
North America is the largest hub for Cancer/Tumor Profiling Market, accounting for the largest share, followed by Europe
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