In 2023, the Tissue-Based Genomic Profiling Market is expected to be worth US$ 1.2 billion. The market is expected to reach US$ 2.2 billion by 2033, expanding at a 6.6% CAGR throughout the forecast period. In recent years, the market for tissue-based genetic profiling has grown significantly. The market is likely to grow further as genomic technologies progress, precision medicine becomes more widely used, and the frequency of cancer and other complicated disorders rises.
The investigation of genomic changes in tissue samples to understand the genetic composition and features of illnesses such as cancer is referred to as tissue-based genomic profiling. It gives vital insights into the molecular and genetic changes that underlie illness progression and aids in the development of personalized treatment plans.
Tissue-based profiling employs a variety of genomic methods, including next-generation sequencing (NGS), polymerase chain reaction (PCR), and microarray analysis. NGS is gaining popularity due to its capacity to analyze numerous genes at the same time, delivering full genomic information.
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The need to understand the genetic basis of diseases, facilitate personalized therapy, speed drug discovery, improve agricultural practices, and progress genomics research in numerous domains drives the demand for tissue-based genomic profiling. These technologies are crucial in unlocking the potential of genomics data and transforming it into useful knowledge and applications.
The global market for tissue-based genomic profiling is increasing. North America has always been a key market, because to considerable research, excellent healthcare infrastructure, and favorable reimbursement rules. Europe and Asia-Pacific are also experiencing growth as a result of increased awareness, increased investment in genomics research, and improved healthcare infrastructure.
To improve their tissue-based genomic profiling capabilities, key market participants such as diagnostic businesses, pharmaceutical companies, and research organisations frequently develop strategic agreements and partnerships. To speed the translation of genomic profiling into clinical practice, these collaborations focus on technological development, biomarker identification, and clinical validation.
Key Takeaways from the Tissue-based Genomic Profiling Market:
- The tissue-based genomic profiling industry in the United States is predicted to reach US$ 604.5 million by 2033, increasing at a 5.7% CAGR.
- The tissue-based genomic profiling industry in the United Kingdom is estimated to reach a market value of US$ 68.9, expanding at a CAGR of 5.8% by 2033.
- During the forecast period, the tissue-based genomic profiling industry in China is expected to reach a market value of US$ 102.1 million, securing a 6.4% CAGR.
- The tissue-based genomic profiling industry in Japan is predicted to reach US$ 144.3 million by 2033, increasing at a 6.2% CAGR.
- South Korea’s tissue-based genomic profiling industry is predicted to achieve a market value of US$ 73.2 million, rising at a 6.0% CAGR during the forecast period.
- With a CAGR of 7.7% from 2022 to 2033, tumor tissue and liquid DNA profiling is expected to dominate the tissue-based genomic profiling industry.
- With a CAGR of 6.5% from 2022 to 2033, the oncological diagnostics is expected to dominate the tissue-based genomic profiling industry.
- With a CAGR of 7.1% from 2022 to 2033, the diagnostic laboratories is expected to dominate the tissue-based genomic profiling industry.
How Does the Competition Look in the Tissue-based Genomic Profiling Market?
The tissue-based genomic profiling industry is a highly competitive market, with a significant number of players competing for the market share. Key participants includes FOUNDATION MEDICINE, INC., Laboratory Corporation of America Holdings (Personal Genome Diagnostics Inc. (PGDx)), Illumina, Inc., QIAGEN, Roche Diagnostics, Thermo Fisher Scientific., Exact Science among other companies.
In order to take advantage of one another’s skills and increase their impact in the market, the major firms have formed tactical alliances and partnerships with other businesses are becoming more common in the industry.
Tissue-based profiling developers strive to improve the accuracy and performance of their tools. This involves refining the gene prediction algorithms and models, incorporating AI techniques and advanced machine learning, and improving computational efficiency. Accurate identification of genes, gene structure prediction, and provision of reliable functional annotations are the key focus area.
Key players are embracing open-source development models by encouraging collaboration and actively engaging with research communities. Thus, allowing continuous improvements via community contributions, and sharing of resources and expertise. Open-source tissue-based genomic profiling facilitate innovation and support the broader scientific community.
Key firms are enhancing their distribution networks and developing local manufacturing facilities to increase their presence in these areas, in turn, providing cost-effective solutions to customers to acquire a competitive edge.
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Key Players in the Tissue-based Genomic Profiling Industry
- FOUNDATION MEDICINE, INC.
- Laboratory Corporation of America Holdings (Personal Genome Diagnostics Inc. (PGDx) )
- Illumina, Inc.
- QIAGEN
- Roche Diagnostics
- Thermo Fisher Scientific.
- Exact Science
Segmentation Analysis of the Tissue-based Genomic Profiling Market
By Technology:
- Tumor tissue and Liquid DNA profiling
- Sequencing Techniques
- NGS
- Sanger Sequencing
- RNA Sequencing
- Immunohistochemistry
- Others
By Application:
- Personalized Medicine
- Oncological Diagnostics
- Research
- Cancer Research
- Biomarker Discovery
- Others
By End User:
- Research Institutes
- Clinical Research Organizations
- Hospitals & Clinics
- Diagnostic Laboratories
- Pharmaceutical & Biotechnology Companies
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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