Global Cancer Tumor Profiling market research 2024, Forecast To 2033

The cancer tumor profiling market has experienced rapid growth, increasing from $11.17 billion in 2023 to $12.93 billion in 2024, with a CAGR of 15.7%. The growth in the historic period is attributed to increasing cancer incidence, precision medicine initiatives, improved cancer diagnostics, availability of targeted therapy options, and supportive regulatory frameworks for cancer profiling tests. Looking ahead, the market is poised for rapid growth, reaching $22.06 billion in 2028, with a CAGR of 14.3%. Factors contributing to this growth include the expansion of immunotherapy, development of liquid biopsy methods, adoption of single-cell sequencing, expansion of cancer screening programs, and increasing demand for rare and orphan cancer subtype profiling. Major trends in the forecast period include the integration of tumor profiling into clinical practice, advances in multi-omics approaches, integration of AI and machine learning, personalized medicine development, and advances in genomics and next-generation sequencing technologies.