Cancer profiling is a technique used to classify tumors more accurately, which helps in predicting the patient’s clinical outcome. Cancer profiling helps in identification of genomic alteration, which aid to select an appropriate therapy for the treatment of cancer. This technique reduces the trial and error process in diagnosis of cancer at various stages and provide more precise and accurate information about clinical outcomes of cancer. Different tests are used in the diagnosis of cancer such as laboratory test (blood and urine), biopsy, imaging test (X-ray, MRI, PET/CT, and ultrasound), nuclear medicine scan, and lumber puncture, which is unable to identify exact cause of cancer in early stages. This can be led to over-treatment of cancer patients.
According to the World Health Organization (WHO), nearly 1 in 6 deaths occurs due to cancer and around 8.8 million people died from cancer worldwide in 2015. Increasing incidence and prevalence of different cancers among individuals augmented the demand for accurate diagnosis of cause in early stage of cancer.
Emergence of cancer profiling over traditional cancer diagnostic methods is expected to gain growth of the Cancer profiling market
St. Jude Medical Center's Crosson Cancer Institute has joined Caris’ Precision Oncology Alliance (POA) as its 17th member in 2017. POA is established by Caris Life Sciences to promote the appropriate use of molecular tool in diagnosis and treatment of cancer. The St. Jude Medical Center's Crosson Cancer Institute will help Caris Life Sciences to develop standard and best practices to make cancer treatment more effective and precise by advancing the use of tumor profiling.
EpiVax Inc. launched EpiVax Oncology Inc., which is an approach for precision cancer immunotherapy in 2017. EpiVax used molecular profiling through Next-Generation Sequencing (NGS) to produce therapeutic vaccines for cancer.
Personal Genome Diagnostics Inc. launched CancerSELECT 125 test for pan-cancer tumor profiling in 2016. CancerSELECT 125 identify tumor specific functional sequence mutation in multiple cancer types with high accuracy.
Increasing prevalence of cancer and rising demand for accurate diagnosis of cancer in early stage is expected to fuel the growth of cancer profiling market
According to a report by American Cancer Society (ACS), in 2016, around 1,685,210 new cases of cancer were diagnosed and around 595,690 cancer deaths were estimated in U.S. Moreover, according to the World Cancer Research Fund International (WCRFI), in 2012, around 14.1 million cancer cases were estimated worldwide, in which, around 7.4 men and 6.6 million female diagnosed. As per WCRFI, it is predicted that by 2035, world-widely around 24 million cancer cases will increase.
Furthermore, according to Cancer Research UK, around 356,860 new cases of cancer were diagnosed in 2014, in which most common cancers were breast, prostate, and lung or bowel cancer. The data represent increasing incidence and prevalence of cancer globally which is expected to be the major driving factor for the cancer profiling market during the forecast period.
Increasing awareness of cancer by many organization and foundations at local, state and global level include Cancer Preventive Program by WHO, National Cancer Control Program, and Prevent Cancer Foundation, expected to fuel the growth of cancer profiling market in the near future.
Cancer Profiling Market – Competitive Landscape
Some of the major key players operating in the global cancer profiling market include Proteome Sciences PLC, Life Technologies Corporation, Illumina, Inc., BioTheranostics, RiboMed Biotechnologies Inc., NeoGenomics Laboratories, Oxford Gene Technology Ltd., Genomic Health Inc., Agendia, and Oncopath Laboratories.
Cancer Profiling Market -Taxonomy