The global tissue-based genomic profiling market is on the brink of significant expansion, as indicated by a recent comprehensive market analysis. With a valuation of USD 1.2 billion in 2023, the market is forecasted to grow at an impressive Compound Annual Growth Rate (CAGR) of 6.6% over the next decade, reaching a staggering USD 2.2 billion by 2033.
Tissue-based genomic profiling is revolutionizing the landscape of medical research and treatment methodologies by unraveling the intricate genetic compositions underlying various ailments, particularly cancer. This innovative approach entails scrutinizing genomic changes in tissue samples, offering invaluable insights into the molecular and genetic alterations associated with disease progression.
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The significant growth of the tissue-based genomic profiling market can be attributed to advancements in genomic technologies, the increasing adoption of precision medicine, and the rising incidence of complex disorders such as cancer. As precision medicine becomes more widely accepted and integrated into healthcare systems worldwide, the demand for tissue-based genetic profiling is expected to soar.
“With the evolution of genomic technologies and the growing emphasis on precision medicine, tissue-based genomic profiling has emerged as a pivotal tool in understanding and treating various diseases,” said FMI. “The insights derived from genomic profiling enable clinicians to tailor treatment plans according to individual genetic profiles, leading to more effective and targeted therapies.”
The forecasted growth of the tissue-based genomic profiling market underscores its pivotal role in the future of healthcare. As research and development in genomics continue to advance, the potential for further innovations in personalized medicine is immense, promising improved patient outcomes and enhanced healthcare delivery globally.
Key Takeaways from the Tissue-based Genomic Profiling Market:
- The tissue-based genomic profiling industry in the United States is predicted to reach USD 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 USD 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 USD 102.1 million, securing a 6.4% CAGR.
- The tissue-based genomic profiling industry in Japan is predicted to reach USD 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 USD 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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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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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