Press Releases

Cancer Profiling and Pathways Market 14.9% Annual Growth Through 2023

Expansion Led by Growth in Epigenetics and Diagnostic Arrays

April 02, 2019

WELLESLEY, Mass., April 2, 2019–Strong growth in epigenetics and diagnostic arrays will help propel the global cancer profiling and pathways market, according to a report by BCC Research.

The industry expects to see a compound annual growth rate (CAGR) of 14.9% through 2023, when it could be worth $90.6 billion, according to the report, “Cancer Profiling and Pathways: Technologies and Global Markets.”

Major players in the market include Abbott Molecular (ABT), Genomic Health (GHDX), Roche Diagnostics (ROG) and Rubicon Genomics (now Takara Bio, TYO).

Research Highlights

  • Genomics will lead the market by size with an estimated 2023 value of $35.5 billion, followed by proteomics at $22.6 billion and epigenetics/methylation at $18.5 billion.
  • In genomics, the market will be led in growth by sequencing, anticipating a CAGR of 22.7%, followed by PCR at 10.8% and microarrays/biochips at 9.1%.
  • SNP genotyping products anticipate a 2023 value of $18.5 billion and a CAGR through the period of 20.1%.

“North America is the largest center for the cancer/tumor profiling market, followed by Europe and Asia,” notes report author Usha Nagavarapu. “Both North America and Europe are expected to grow at a steady pace during the forecast years. However, the Asia-Pacific market and a few countries from the ROW region are also expected to witness a boost in demand and are poised to register maximum growth over the next five years, owing to affected populations, high incidence of cancers and the increased purchasing power of patients.”

United States Leads Market by Size, With Asia Seeing Strong Growth

The United States currently leads the market by size and holds a significant share of the world market, the report adds, with Europe and the Asia-Pacific region following. The Asian market, however, is poised to see the highest growth through the forecast period, with a CAGR of 16%.

Editors/reporters requesting analyst interviews should contact Sarah Greenberg at press@bccresearch.com.

Cancer Profiling and Pathways: Technologies and Global Markets( BIO073C )
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