3rd World Conference on Cancer Biology, Immuno Oncology and Drug Discovery

Carcinogenic cells can attack and obliterates sound tissues and organs. An inquiry which is constantly raised whenever cancer is examined is the manner by which to anticipate and identify priorities. There are generally most 200 distinct sorts of Cancers each requires explicit methodologies for treatment. Cancer Research is an enormous field, understanding the causes, to whom and why it occurs and how to dispose of it. Cancer has consistently been a perplexing inquiry, and there are no basic answers up until now. It is imperative to talk about and examine disease, however much as could be expected. It tends to be fathomed distinctly by the aggregate methodology.

Scientists are coming out with Innovative information and investigate approaches in the field of Cancer.

LexisConferences invites all the participants from all over the world to attend “3^rd  World Conference on Cancer Biology, Immuno Oncology and Drug Discovery” during July 21-22, 2022 at Chicago USA.

CBIOD 2022 is an 2 day event with Multiple panels, Workshops, Affinity group lunches, Forums, Poster sessions. Our aim is to bring together the brightest minds of all Academicians, Clinical practitioners, Industrialists, Young researchers to give the talks that are ideal-focused, and on a wide range of Cancer, to foster learning, inspiration and wonder – and provoke conversations that matter.

Market Analysis:

The global cancer/tumor profiling market size is likely to achieve USD 13.9 billion by 2025 from USD 8.3 billion in 2020, at a CAGR of 10.9% during the forecast period. The growing incidence of cancer across the world and therefore the rising use of biomarkers in tumor profiling are the first growth drivers for this market. In addition, the rise in cancer research and funding creativities and technological advancements in profiling technologies also are propelling the development of the cancer/tumor profiling market.

Also, the increasing demand for personalized medicine and therefore the growing need for point-of-care diagnostics is projected to supply significant growth chances for market players during the forecast period. On the opposite hand, the high capital investment mandatory for biomarker discovery and therefore the practical issues with sample collection and storage are the key factors limiting market growth to a certain extent.

 

Impact of Covid-19 on the cancer/tumor profiling market in the forecast period (2020-2025)

The cancer/tumor profiling market isn't expected to be knowingly impacted by the COVID-19 pandemic in 2020-2022. Due to the COVID-19 outbreak, there has been a big drop by cancer testing and diagnosis thanks to measures and resources implemented towards coronavirus. However, several patients affected with COVID-19 were people with malignancies, thanks to which cancer has been identified as a risk factor for COVID-19. Research during this area is further assumed to know the undercurrents of the infection better, which is predicted to propel the cancer research field further. On the opposite hand, we are guessing that the main share of tumor diagnostic and predictive testing of cancer, along side personalized medicine, will grow at a stable pace in the next five years. There is a huge deferment of treatment schedule of surgeries, radiotherapy , and chemotherapy sessions. Hence, the cancer treatment of surgeries, radiation therapy, and chemotherapy sessions should come to the amount of 2019 by the primary quarter of 2022.

Drivers, Restraints, Opportunities, and Challenges in the Cancer/Tumor Profiling Market (2020-2025)

Driver: Increasing incidence of cancer

Rise in cancer incidences is one of the major sponsors to market growth in the overall cancer/tumor reporting market. The increasing burden of cancer can be recognized to several factors, including population growth and aging, as well as the changing prevalence of certain causes of cancer linked to social and economic development.

 

Restraint: Technical issues in sample collection and storage in the cancer/tumor profiling market

Sample collection is one of the key issues faced by service providers, tracked by access to these samples. Stringent quality control of these samples is mandatory, and they need to be stored under the right conditions to avoid any loss.

Opportunity: Increasing demand for personalized medicine

Personalized medicine, which has become a core area of research within the healthcare industry, has entered mainstream clinical practice and is changing the way many diseases are identified, classified, and treated. These advancements are particularly evident within the area of oncology.

Challenge: Poor regulatory and reimbursement scenario

Technological developments have enhanced the development and use of tumor profiling technologies to recognize the key attributes of a patient’s disease at an early stage and thus guide the selection of the therapy to benefit a specific patient. The acceptance of biomarker-based tests in clinical applications requires evidence of the biomarker’s clinical validity and utility. This is important not just only to help doctors in the decision-making process but also to achieve regulatory approvals and repayments for tests. However, amassing the data necessary to show clinical validity and value may be a time-consuming and expensive process, which is further complicated by the lack of standard regulations.

Based on technology, the cancer/tumor profiling market has been segmented into immunoassays, in place hybridization, next-generation sequencing (NGS), polymerase chain reaction (PCR), mass spectrometry, microarrays, and other machineries. The immunoassays segment accounted for the most important market share in 2021. These analyses are used as a gold standard to conduct tumor profiling on a large scale as they help measure the presence and attention of analytes in a sample. These tests are used for cancer diagnosis, forecast, and treatment decisions. Moreover, the information gained by these tests in clinical conditions helps shorten hospital stays and decrease the severity of illnesses by finding and assessing the progression of the disease, leading to improved beneficial choices.

The lung cancer segment is expected to grow at the highest CAGR during the forecast period

Based on cancer type, the cancer/tumor reporting market has been segmented into breast cancer, lung cancer, colorectal cancer, prostate cancer, melanoma, and other cancers. In 2021, the breast cancer segment accounted for the major share of the cancer/tumor profiling market, followed by lung cancer. The high incidence of breast cancer across the globe is the major factor donating to the large share of this segment. However, the lung cancer segment is expected to register the maximum during the forecast period. The increasing incidence of lung cancer worldwide and the rising need for early diagnosis are backup the growth of this segment.

The protein biomarker segment is expected to grow at the highest CAGR during the forecast period

Based on biomarker type, the cancer/tumor profiling market is segmented into genetic biomarkers, protein biomarkers, and other biomarkers. In 2021, the genetic biomarkers segment accounted for the major share of the cancer/tumor profiling market. The huge share of this part can be recognized to the high adoption of these biomarkers during cancer diagnosis and prognosis and in the biomarker discovery process. On the other hand, the protein biomarkers segment is estimated to grow at the highest CAGR during the forecast period majorly due to the growing adoption of proteomic methods for biomarker research to advance the drug development process. They also showcase the big potential for guiding personalized cancer therapy and treatment monitoring.

 

The APAC market is expected to grow at the highest CAGR during the forecast period

The cancer/tumor profiling market within the Asia Pacific is predicted to witness the very best CAGR during the forecast period. Factors like the high incidence of cancer, growing proteomics and genomics research and increasing research funding, increasing investments by pharmaceutical and biotechnology companies, and growing awareness about personalized therapeutics are expected to drive the expansion of this market during the forecast period.

Key Market Players

The prominent players in the Cancer/Tumor Profiling Market are Illumina, Inc. (US), QIAGEN N.V. (Germany), NeoGenomics Laboratories, Inc. (US), HTG Molecular Diagnostics, Inc. (US), Genomic Health Inc. (US), Caris Life Sciences (US), Helomics Corporation (US), NanoString Technologies, Inc. (US), Sysmex Corporation (Japan), Ribomed Biotechnologies, Inc. (US), Guardant Health, Inc. (US), Foundation Medicine (US) Roche Diagnostics (Switzerland), (US), GenScript Biotech Corporation (China), Tempus Labs (US), Boreal Genomics Inc (Canada), Perthera (US), Agendia (US), Omniseq(US), Histogene X (Belgium).

The global drug discovery services market size is projected to reach USD 21.4 billion by 2025 from USD 11.1 billion in 2020, at a CAGR of 14.0% during the forecast period. growing R&D expenditure in the pharmaceutical & biopharmaceutical industry, thus necessitating increasing demand for outsourcing analytical testing and clinical trial services. Initiatives for research on rare diseases and orphan drugs, and focus on drug discovery are driving the growth of the global drug discovery services industry. Growth in biologics, patent expiries and emerging economies are expected to provide a wide range of growth opportunities for players in the market.

COVID-19 impact on the global drug discovery services market

The COVID-19 outbreak is an unprecedented global public health challenge and is expected to have a significant impact on the ISH market for diagnostics and research applications.

In order to expedite the research and development process, leading pharmaceutical and biotechnology companies are entering into a collaboration and partnership program with drug discovery services firms to develop vaccines and therapeutics to combat coronavirus. For instance, Eurofins has joined hands with pharmaceutical and biotech companies to support and identify potential drug molecules. Some of the services offered by Eurofins include safety profiling, drug repositioning services, custom assay development, efficacy testing, and cytokine storm assessment. In June 2022, Covance entered into a partnership with Medable to accelerate the adoption of decentralized clinical trial technology. In June 2022, Covance also launched a COVID-19 clinical trial platform in the US to provide information about COVID-19 trails and to speed up the recruitment process for clinical research.

Such strategies and initiatives by drug discovery services firms will accelerate the growth of this market during the forecast period.

Driver: Growing R&D expenditure in the pharmaceutical & biopharmaceutical industry

R&D activity has grown significantly in the pharmaceutical and biopharmaceutical industry. In 2017, the pharmaceutical industry alone spent USD 149.8 billion on R&D (Source: International Federation of Pharmaceutical Manufacturers & Associations). Also, pharmaceutical companies spend, on average, 17% of their revenue on R&D.

Pharmaceutical, biopharmaceutical, and medical device companies invest heavily in the development of novel drugs and devices, with most of the expenditure concentrated on phase III and the preclinical stages of drug development. Growth in R&D expenditure, fueled by the need for numerous preclinical and clinical services during the drug discovery and development process, is one of the major factors propelling the drug discovery services market, globally.

According to the Pharmaceutical Research and Manufacturers of America (PhRMA) Annual Membership Survey (2018), the R&D expenditure of PhRMA members increased to USD 71.4 billion in 2017 from USD 59.6 billion in 2015. Further increases in R&D spending in the coming years will provide a significant boost to drug discovery and development activities, which will ensure the growth of the drug discovery services market in the forecast period.