Global Cancer Biomarkers Market Size research report 2022 offers in-depth assessment of revenue growth, market definition, segmentation, industry potential, influential trends for understanding the future outlook and current prospects for the market.
The global cancer biomarkers market size stood at USD 18.94 billion in 2018 and is projected to reach USD 48.20 billion by 2026, exhibiting a CAGR of 12.4% during the forecast period.
Cancer Biomarkers Market Introduction
Biomarker, or biological marker, is a measurable indicator of some biological state or condition. Cancer biomarkers are biomolecules that can be used to determine the cancer in the body. According to the World Health Organization, cancer is a leading cause of death worldwide; it accounted for nearly 10 million deaths or nearly one in six deaths in 2020. Lung, breast, colon, rectum, and prostate cancers are some of the common cancers. According to a study published in the Journal of Ovarian Research, ovarian cancer is currently the fifth leading cause of death for women with cancer globally. More than 70% of cases of this cancer are diagnosed at an advanced stage. The human epididymis protein 4 biomarker test (HE4 test) is considered to be the most effective and reliable test for the detection of ovarian and endometrial cancers.
Based on type, the market is categorized into breast, prostate, colorectal, cervical, liver, and lung. Breast cancer was the largest segment in 2016. Breast, lung, and prostate cancer cumulatively held the revenue share of over 40% in 2016. Increasing awareness about early testing and growing base of target population are the key factors contributing toward dominance
On the other hand, lung cancer is expected to witness the fastest growth over the forecast period. Growing number of diagnostic tests targeting EGFR and BRAF mutations, which act as an essential biomarker for diagnosis of non-small cell lung cancer are anticipated to accentuate the segment growth.
Epigenetics has gained high acceptance in the field of cancer diagnostics. High amount of research is being undertaken by many players for the analysis of key epigenetic modification related to cancer for further development of biomarkers targeting drugs. Increasing collaboration between and pharmaceutical companies for the development of novel drugs targeting epigenetic biomarkers is estimated to boost the growth of this segment.
Cancer biomolecules find application in various fields such as drug discovery and development, diagnostics, and personalized medicine. Diagnostics were the key revenue-generating application of the market pertaining to factors such as increasing development of biomarker-based oncology tests with high specificity and sensitivity.
Personalized medicine owing to its increasing demand and rising awareness amongst healthcare professionals is anticipated to witness flourishing growth rate. Moreover, growing approval for companion diagnostic tests for cancer drugs is expected to affirm market growth.
Drivers & Restraints
Cancer biomarkers are prominently used in companion diagnostics, personalized medicines, and other disease diagnostics, including disease risk assessment and drug discovery and development. The rising adoption of biomarkers in disease diagnostics is one of the major factors expected to drive cancer biomarkers market growth during the forecast period of 2019-2026.
This study provides information about the sales and revenue during the historic and forecasted period of (2022 to 2028). Understanding the segments helps in identifying the importance of different factors that aid market growth. Estimations about the CAGR value for specific forecast period, market drivers, market restraints, and competitive strategies are assessed in this Cancer Biomarkers Market report.
This report focuses on Cancer Biomarkers Market volume and value at the global level, regional level and company level. From a global perspective, this report represents overall Cancer Biomarkers Market market size by analysing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.
Competitive Strategic Window:
The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.
An Overview of the Impact of COVID-19 on this Market:
The advancement of COVID-19 has conveyed the world to a stop. We fathom that this prosperity crisis amazingly influences associations across ventures. Nevertheless, everything fortunate or unfortunate should reach a conclusion. There are a couple of organizations that are fighting and some are thriving. By and large, essentially every region is relied upon to be impacted by the pandemic.
We are advancing incessant endeavors to help your business support and create during COVID-19 pandemics. Considering our experience and expertise, we will offer you an impact examination of Covid episode across ventures to help you with preparing for what’s to come.
Key players covered in the global Cancer Biomarkers Market research report:
- F. Hoffmann-La Roche Ltd.
- Thermo Fisher Scientific
- Bio-Rad Laboratories, Inc.
- CENTOGENE N.V.
- Axon Medchem
- Sino Biological Inc.
- R&D System
- BioVision Inc.
- Myriad RBM
Market Share Analysis:
The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It rovides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.
High Efficiency of Omics Technology in Early Diagnosis of Cancer
In terms of profiling technology, the global cancer biomarkers market has been classified into omics, imaging, immunoassay, bioinformatics, and others. The omics segment held dominant share of the market in 2021. Omics technology is highly efficient in the early diagnosis of cancer.
Europe is also expected to be a highly attractive region of the global cancer biomarkers market during the forecast period. Increase in prevalence and incidence of cancer in the region is likely to drive the market during the forecast period.
The cancer biomarkers market in Asia Pacific is also anticipated to grow significantly during the forecast period. This can be ascribed to the rise in disposable income, rapid urbanization, increase in health care infrastructure, and distribution and partnership strategies adopted by the players in the region.
- Natural substance providers
- Administrative bodies, including government organizations and NGO
- Business innovative work (RandD) establishments
- Merchants and exporters
- Government associations, research associations, and counseling firms
- Exchange affiliations and industry bodies
- End-use enterprises
Major Table of Contents for Cancer Biomarkers Market Research Report:
- Executive Summary
- Market Dynamics
- Key Market Growth Insights
- Global Market Analysis, Insights and Forecast, 2017-2028
- North America Market Analysis, Insights and Forecast, 2017-2028
- Europe Market Analysis, Insights and Forecast, 2017-2028
- Asia Pacific Market Analysis, Insights and Forecast, 2017-2028
- The Middle East and Africa Market Analysis, Insights and Forecast, 2017-2028
- Latin America Market Analysis, Insights and Forecast, 2017-2028
- Competitive Landscape
- Global Cancer Biomarkers Market Revenue Growth, Industry Share Analysis, By Key Players, 2021
- Company Profiles
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