At a CAGR of 10.9%, the cancer/tumor profiling market is expected to grow to USD 13.9 billion from USD 8.3 billion by 2025, totaling USD 23 billion over the figure period. Moreover, the advancing event of harm across the globe and the creation of biomarkers in tumor profiling assist in the improvement of this market. Additionally, the extension in threat assessment and sponsorship in profiling is also driving the improvement of this market.
Furthermore, the expanding interest for customized medication and the developing requirement for point-of-care diagnostics is relied upon to offer huge development openings for market players during the conjecture time frame. Then again, the high capital speculation needed for biomarker revelation and the specialized issues with test assortment and capacity are the key components controlling business sector development somewhat.
Cancer/tumor profiling market isn't relied upon to be essentially affected by the COVID-19 pandemic in 2020-2021. Because of the COVID-19 flare-up, there has been a huge drop in malignant growth testing and finding because of measures and assets executed towards COVID-19. In any case, a few patients influenced with COVID-19 were individuals with malignancies, because of which disease has been distinguished as a danger factor for COVID-19. Exploration in this space is additionally embraced to comprehend the elements of the contamination better, which is relied upon to impel the malignant growth research field further. Then again, we are assessing that the significant portion of tumor analytic and prognostic testing of malignant growth, alongside customized medication, will develop at a steady speed in the following five years. There is an immense postponement of the therapy timetable of medical procedures, radiation treatment, and chemotherapy meetings. Thus, the cancer growth therapy of medical procedures, radiation treatment, and chemotherapy meetings should go to the degrees of 2019 by the principal quarter of 2021.
Application-based, testing and therapeutic technologies segment the industry for cancer/tumor profiling. In the research segment, the cancer/tumor profiling market accounted for the largest share in 2019. The significant part of this sector is due to the increased emphasis on biomarker exploration and on the increasingly growing area of individual medicine for drug production. Furthermore, the increased support for cancer treatment drives business development.