[Redding, California, October 25, 2023] — The Cancer/Tumor Profiling Market is on an impressive growth trajectory, projected to reach $22.3 billion by 2030, with a remarkable CAGR of 20.9% during the forecast period, according to a new report by Meticulous Research®. The study reveals that the evolution of precision oncology, characterized by matching the right treatment to the right patient at the right time, has significantly advanced cancer care. A retrospective analysis from 2001 to 2020 demonstrates a 27% decline in cancer mortality rates, largely attributed to the use of targeted therapies tailored to combat specific gene mutations driving cancer, as opposed to the traditional one-size-fits-all chemotherapy. Notably, there has been a substantial increase in FDA approvals of targeted treatments for advanced lung cancer since 2020.

Oncologists and pathologists are increasingly embracing cancer/tumor profiling to enhance their ability to identify actionable biomarkers that can precisely match patients with clinical trials and precision therapies. The growth of the cancer/tumor profiling market is driven by factors such as the increasing prevalence of cancer, advancements in multi-omics tumor profiling and cancer research, rising R&D investments by pharmaceutical and biotechnology companies for biomarker development, government initiatives aimed at reducing cancer mortality, and the utilization of biomarkers in tumor profiling.

Top 10 Companies in the Cancer/Tumor Profiling Market: https://meticulousblog.org/top-10-companies-in-cancer-tumor-profiling-market/

1. Illumina, Inc. (U.S.): Based in California and established in 1998, specializes in genomic and genetic analysis using sequencing- and array-based solutions. The company operates through two segments: Core Illumina, offering cancer/tumor profiling solutions, and GRAIL. Its solutions are employed in various sectors globally, from government laboratories and research centers to hospitals, molecular diagnostics labs, and pharmaceutical and consumer genomics companies. Illumina has manufacturing sites and labs in the U.S., Singapore, and the U.K. It distributes its products across North America, Europe, Latin America, Asia-Pacific, and the Middle East & Africa through a network of distributors and subsidiaries.

2. Thermo Fisher Scientific Inc. (U.S.): Founded in Massachusetts in 1956, serves the pharmaceutical, biotechnology, agricultural, clinical, healthcare, government, and academic sectors. The company operates through four segments, with a strong global presence facilitated by its subsidiaries and distribution network. As of December 2022, Thermo Fisher employed 130,000 people worldwide, with a significant presence in the Americas, Asia-Pacific, and Europe & the Middle East & Africa. Major subsidiaries include Thermo Fisher Germany B.V and Thermo Fisher Scientific Australia Pty Ltd.

3. QIAGEN N.V. (Netherlands): Headquartered in the Netherlands since 1984, is a leading provider of sample and assay technologies for molecular diagnostics and life sciences. QIAGEN serves markets including Molecular Diagnostics and Life Sciences and offers a wide range of products, such as diagnostics solutions, PCR products, genomic tools, and consumables. The company markets its products globally, with facilities in various countries, employing over 902 personnel for R&D. Notable subsidiaries include Qiagen AB and QIAGEN LLC.

4. F. Hoffmann-La Roche Ltd (Switzerland): A healthcare company established in Switzerland in 1896, operates through Pharmaceuticals and Diagnostics divisions. The Diagnostics division focuses on cancer/tumor profiling, offering a wide range of diagnostic products and solutions, including in vitro diagnostics, molecular diagnostics, and clinical chemistry. With a presence in various countries, Roche has 23 manufacturing sites and 29 research and development facilities.

5. Agilent Technologies, Inc. (U.S.): Founded in California in 1999, provides application-focused solutions for life sciences, diagnostics, and applied chemical markets through three business segments. The company boasts a strong global presence with customers in over 110 countries, and it operates research & development and manufacturing sites worldwide.

6. NanoString Technologies, Inc. (U.S.): Headquartered in Washington since 2003, manufactures and markets solutions in the field of proteomics and genomics. The company has a geographical presence across North America, Europe, and Asia-Pacific, serving customers through subsidiaries and a robust distribution network. Notable subsidiaries include NanoString Technologies Europe Limited and NanoString Technologies Germany GmbH.

7. HTG Molecular Diagnostics, Inc. (U.S.): Founded in Arizona in 1997, focuses on solutions for drug discovery and precision medicine through advanced drug discovery and transcriptome-wide profiling technologies. With a network of distributors and a direct sales presence in several European countries, HTG Molecular Diagnostics has established a global reach.

8. Agendia Inc. (U.S.): Based in California since 2003, is a molecular diagnostics company specializing in breast cancer treatment solutions. Key product offerings include MammaPrint and BluePrint tests, which analyze critical genes related to breast cancer recurrence. The company delivers products outside the Americas through Agendia N.V.

9. Personalis, Inc. (U.S.): Established in California in 2011, develops comprehensive genomic tests for cancer detection and therapy selection. These tests are conducted on platforms like the NeXT Platform and ACE Platform for various research applications. Personalis serves diagnostics and pharmaceutical companies, universities, healthcare providers, non-profits, and government entities, with key subsidiaries including Personalis (UK) Ltd.

10. Exact Sciences Corporation (U.S.): Founded in Wisconsin in 1995, provides advanced cancer diagnostics solutions. The company operates globally, offering screening, precision oncology, and COVID-19 testing services in the U.S., Canada, Japan, and eight European countries, with its Oncotype tests available in over 90 countries.

These companies play a pivotal role in shaping the future of the cancer/tumor profiling market, offering a range of cutting-edge solutions and services to meet the growing demand for precision medicine in cancer care.

Top 10 Companies in the Cancer/Tumor Profiling Market: https://meticulousblog.org/top-10-companies-in-cancer-tumor-profiling-market/

The comprehensive report by Meticulous Research® delves deeper into each of these companies, providing in-depth analysis of their recent financial performance, key products, significant company strategies, and details of partnerships and acquisitions. The report also includes global market size estimates, market share analysis, revenue numbers, and extensive coverage of key issues and trends within the Cancer/Tumor Profiling Market.

For more information, please refer to Meticulous Research®'s authoritative report titled "Cancer/Tumor Profiling Market - Global Opportunity Analysis and Industry Forecast (2023-2030)"

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