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What Is the Estimated Market Growth Potential of the Genomic Cancer Panel And Profiling Market by 2029?
The genomic cancer panel and profiling market size has grown strongly in recent years. It will grow from $9.47 billion in 2024 to $10.28 billion in 2025 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to rising global cancer burden, rising use in clinical trials, expansion of diagnostic infrastructure, growing awareness of genetic testing, and increasing government and research funding.
The genomic cancer panel and profiling market size is expected to see strong growth in the next few years. It will grow to $14.27 billion in 2029 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to the expansion of liquid biopsy applications, growing use in early detection, expansion of liquid biopsy applications, growth in tailored therapies, and increasing companion diagnostics approvals. Major trends in the forecast period include integration of AI and machine learning in genomic data interpretation, development of multi-omics approaches, cloud-based genomic data storage and analysis, integration with electronic health records, and expansion of next-generation sequencing (NGS) platforms.
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Which Key Growth Contributors Will Drive the Genomic Cancer Panel And Profiling Market in the Next Decade?
Rising cancer incidence is expected to propel the growth of the genomic cancer panel and profiling market going forward. Cancer is a disease characterized by the uncontrolled growth and spread of abnormal cells in the body. Increasing cancer incidence can be attributed to factors such as an aging population, which leads to a higher risk of developing cancer as people live longer. Genomic cancer panels and profiling are used in cancer to identify genetic mutations and biomarkers, enabling personalized treatment plans and improving early detection and monitoring of the disease. For instance, in January 2024, according to the American Cancer Society, a U.S.-based nonprofit organization, in 2022, around 20 million new cancer cases were reported globally, resulting in 9.7 million deaths; driven primarily by population growth, the global cancer burden is projected to rise to 35 million cases by 2050. Therefore, rising cancer incidence will drive the growth of the genomic cancer panel and profiling market.
What Segments Are Covered in the Genomic Cancer Panel And Profiling Market Report?
The genomic cancer panel and profiling market covered in this report is segmented –
1) By Tissue Testing: Solid Tissue Testing, Liquid Tissue Testing
2) By Technology: Next-Generation Sequencing (NGS), Polymerase Chain Reaction (PCR), Fluorescence In-Situ Hybridization (FISH), Immunohistochemistry (IHC), Other Technologies
3) By Cancer Panel Type: Single-Gene Panel, Multi-Gene Panel
4) By Application: Clinical, Research
5) By End User: Hospitals, Research And Academic Institutes, Clinical And Diagnostic Laboratories, Other End Users
Subsegments:
1) By Solid Tissue Testing: Biopsy Samples, Surgical Resection Samples, Formalin-Fixed Paraffin-Embedded (FFPE) Tissues, Fresh Frozen Tissues
2) By Liquid Tissue Testing: Blood, Urine, Saliva, Cerebrospinal Fluid (CSF), Other Bodily Fluids
What Are the Significant Trends in the Genomic Cancer Panel And Profiling Market Across Regions?
Major companies operating in the genomic cancer panel and profiling market are focusing on technological advancements such as next-generation sequencers to improve the accuracy, speed, and comprehensiveness of cancer diagnostics and enable more personalized treatment decisions. Next-generation sequencers are advanced DNA sequencing technologies that enable rapid, high-throughput analysis of genetic material to identify mutations, variations, and other genomic features. For instance, in April 2025, QIAGEN N.V., a Netherlands-based biotechnology company, launched QIAseq panels designed for next-generation sequencers, enabling comprehensive genomic profiling by analyzing over 700 genes. These panels are intended for both research and clinical applications, aiming to improve cancer diagnostics and treatment strategies.
Who Are the Most Influential Players in the Genomic Cancer Panel And Profiling Market?
Major companies operating in the genomic cancer panel and profiling market are Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc., Agilent Technologies Inc., Hologic Inc., Illumina Inc., Sysmex Corporation, QIAGEN N.V., Exact Sciences Corporation, ARUP Laboratories, Tempus Labs, Genscript Biotech Corporation, NeoGenomics Inc., Foundation Medicine, Invitae Corporation, Guardant Health Inc., Caris Life Sciences, Fulgent Genetics, NanoString Technologies Inc., Genecast Biotechnology Co. Ltd, Burning Rock DX, HTG Molecular Diagnostics Inc., Predictive Oncology Inc.
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Which Region Is Projected to Account for the Largest Share of the Genomic Cancer Panel And Profiling Market?
North America was the largest region in the genomic cancer panel and profiling market in 2024. The regions covered in the genomic cancer panel and profiling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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