Cancer is one of the world's most important health issues, with a worrying increase in the number of new cases and deaths. The cancer tumor profiling market is estimated at around US$ 10.1 billion in 2023 and is expected to increase at a compound annual growth rate (CAGR) of 9.2% between 2024 and 2031. This increase in market value demonstrates the growing demand for better diagnostic technologies, which is driven by the growing global cancer burden.
We will explore the major trends and developments that are shaping the cancer tumor profiling market, including the integration of artificial intelligence (AI), the expanding applications in rare and hard-to-treat cancers, the challenges of high costs, and concerns around data privacy and ethics.
1. The Rising Prevalence of Cancer and its Impact on Tumor Profiling
The global cancer burden is rapidly increasing, with an estimated 20 million new cancer cases diagnosed in 2022 and 9.7 million cancer-related deaths worldwide, according to the American Cancer Society’s (ACS) Global Cancer Statistics 2024. This marks a significant concern for public health and has profound implications for cancer diagnostics and treatment, including tumor profiling.
According to the American Cancer Society, the number of cancer cases will reach 35 million by 2050. This huge increase in cancer prevalence is mostly due to population aging and expansion, assuming that present cancer incidence rates continue stable. In addition to demographic considerations, the research emphasizes the rising incidence of significant risk factors such as poor eating habits, physical inactivity, alcohol drinking, and cigarette smoking. These factors contribute to the increased cancer burden worldwide, emphasizing the need for more advanced and accessible diagnostic methods such as tumor profiling.
2. Integration of Artificial Intelligence (AI) in Tumor Profiling
One of the most intriguing developments in cancer tumor profiling is the incorporation of artificial intelligence (AI). AI algorithms are currently being used to examine massive volumes of genomic data from tumor profiles. These tools can detect patterns that human analysts may overlook, increasing the accuracy and speed of diagnosis.
AI-driven tumor profiling can help clinicians provide tailored treatment plans for cancer patients by identifying the most effective medicines based on their unique genetic profiles. AI also saves time and money on cancer diagnosis, making it an important tool for widespread adoption.
For instance, in January 2024, QIAGEN Digital Insights (QDI) enhanced its QIAGEN CLC Genomics Workbench Premium with LightSpeed technology, which now supports next-generation sequencing (NGS) for somatic cancer secondary analysis. This software accelerator helps convert raw sequencing data to interpretable genetic variant lists at unprecedented speeds and low costs, significantly improving the efficiency of tumor profiling.
3. Expanding Applications in Rare and Hard-to-Treat Cancers
Another important development is the increased use of tumor profiling in detecting and treating rare and difficult malignancies. Tumor profiling assists clinicians in detecting genetic changes in difficult-to-treat diseases, such as brain tumors, which frequently evade conventional diagnostic techniques. The ability to profile tumors with high precision enables clinicians to design tailored medicines even for uncommon cancers, providing hope to patients who would otherwise have few therapeutic options.
For example, in April 2024, Genetic testing company Nonacus launched the GALEAS Tumor test, a next-generation sequencing (NGS) test that provides comprehensive genomic profiling of tumors. GALEAS Tumor covers 519 genes implicated in a wide range of cancers, including rare and complex cancers like brain tumors. This technology allows for more affordable and clinically relevant cancer diagnoses, ensuring that even patients with less common cancers receive appropriate and effective treatment plans.
Competitive Landscape of the Cancer Tumor Profiling Industry:
The global cancer tumor profiling market is highly competitive, with several major players continuing to hold dominant positions. These companies are focusing on product innovation, market expansion, strategic collaborations, and acquisitions to maintain and grow their market share. Key developments in the market, including new product launches and technological advancements, are expected to shape the future of cancer diagnostics and treatment.
Key Product Developments
Several leading players have made significant strides in advancing their tumor profiling offerings, introducing novel tests and assays that contribute to the precision medicine movement in oncology. For example:
- Roche: In November 2024, Roche received the CE Mark for its VENTANA FOLR1 RxDx Assay, the first IHC companion diagnostic test for epithelial ovarian cancer in Europe, enabling targeted therapy with ELAHERE (mirvetuximab soravtansine).
- Illumina: In November 2024, Illumina announced the launch of the TruSight Oncology 500 v2 assay, offering comprehensive genomic profiling of tumors, enhancing precision medicine and treatment outcomes.
- Caris Life Sciences: In November 2024, Caris Life Sciences received FDA approval for the MI Cancer Seek assay, a companion diagnostic to identify patients suitable for FDA-approved targeted therapies, with a pan-cancer and tumor-specific approach.
- Foundation Medicine: In May 2024, Foundation Medicine launched FoundationOne RNA, a test for detecting cancer-related gene fusions across 318 genes, improving molecular profiling for cancers like NSCLC, pancreatic, and bladder cancer.
Strategic Partnerships and Collaborations
Strategic collaborations and partnerships play a crucial role in driving the growth of the tumor profiling market, as companies combine their expertise to enhance diagnostic capabilities and expand market reach:
- Roche & AI Integration: In September 2024, Roche expanded its digital pathology environment by integrating 20+ AI algorithms from eight new partners, enhancing tumor profiling accuracy and efficiency.
- Bayer & Thermo Fisher: In May 2024, Bayer and Thermo Fisher partnered to develop next-generation sequencing (NGS) companion diagnostics (CDx) and improve decentralized genomic testing, enabling faster cancer treatment decisions.
- Bruker & NanoString: In April 2024, Bruker acquired NanoString Technologies, strengthening its capabilities in gene expression profiling and spatial biology to advance cancer research and diagnostics.
Japan Market Outlook and Growth Drivers
Japan has been at the forefront of cancer research, particularly in the area of precision oncology. The MONSTAR Project, launched by the National Cancer Center Hospital East, stands as a major initiative, combining multi-omics analyses of cancer molecular profiles from over 24,000 patients. This effort aims to advance personalized treatments through biomarker-based therapies, with recent studies showing that 20% of patients receiving such treatments experienced improved survival rates. Despite a decline in age-adjusted cancer mortality, cancer continues to be the leading cause of death in Japan, with an estimated 1 in 2 individuals facing a cancer diagnosis in their lifetime. The costs of cancer care account for approximately 15% of Japan's total healthcare expenditure, underscoring the critical need for advanced, targeted therapies.
At DataM Intelligence, we offer in-depth market research reports focused on cancer genomics, precision oncology, and innovations shaping the industry. Our insights can help businesses understand the growing demand for cancer diagnostics and therapies in Japan and beyond, ensuring they remain competitive in this rapidly advancing sector. Explore our reports to stay informed about the future of cancer care.
