The Global Cancer Biomarkers Market is projected to reach USD 53.75 Billion in 2030 from USD 14.59 Billion in 2022, at a CAGR of 17.7%. Market growth is thrusted by the increasing use of cancer biomarkers in drug development and discovery, increasing research on cancer biomarkers, the increasing global incidence of cancer and technological advancements.
Global Cancer Biomarkers Market: Overview
Cancer biomarkers are traceable substances or molecules that stipulate the existence of cancerous cells in the body.
The forestalling of cancer by analysing and diagnosing various cancer biomarkers using different diagnostic techniques is a flat-out approach to obtain quick results for treatment.
There are varied types of biomarkers such as proteins, antibodies, peptides and nucleic acids. Existence of these biomarkers in tissues, serum, urine, blood, or any other body fluids indicate an abnormal process or a disease.
Such biomarkers for cancer indications have been studied and are used as biomarkers for diagnostics, personalized medicines, prognostics and surrogate endpoints.
The identification of different types of biomarkers is a crucial part of various industries such as healthcare and pharmaceuticals.
The global cancer biomarkers market is estimated to witness advancement during the forecast period due to increase in prevalence of various types of cancers such as breast, lung cancer and prostate.
Key Market Trends: Growth Determinants and Challenges:
The cancer biomarker validation process includes evaluating assays or measuring performance characteristics such as sensitivity, reproducibility and specificity.
Validation is critical for establishing cancer biomarkers as reliable tools to support development, medical care, and biopharma investment decisions.
Personalized medicine identifies the most beneficial treatment path for individual patients. Cancer biomarkers play a very important role in certain aspects of personalized medicine.
Consumables used in cancer biomarker testing enable the identification of these diseases. Cancer biomarker diagnostic products are also used as companion diagnostics for several investigational therapies.
Thus, the field of personalized medicine is expected to offer potential growth opportunities for players operating in the cancer biomarkers market.
The advancements in arrays and proteomics technologies have addressed the challenges in identifying and understanding the functions and interactions of various proteins.
These technological advancements have simplified the process of discovery & development of novel cancer biomarkers to a great extent.
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Segmental Analysis of Global Cancer Biomarkers Market:
Based on Biomarkers Type
- Genetic Biomarkers
- Protein Biomarkers
Based on Cancer Type
- Kidney Cancer
- Thyroid Cancer
- Non-Hodgkin’s Lymphoma
- Bladder Cancer
- Leukemia
- Melanoma
- Breast Cancer
- Lung Cancer
- Colorectal Cancer
- Prostate Cancer
Based on Application
- Risk Assistant
- Prognostics
- Diagnostics
- Research and Development
Based on Profiling Technologies
- Bioinformatics
- Cytogenetics
- Immunoassay
- Omics Technologies
- Imaging Technologies
North America is the largest regional market for Cancer Biomarkers:
The global cancer biomarkers market is segmented into five major regions—North America, the Asia Pacific, Europe, Latin America, and the Middle East & Africa. In 2020, North America accounted for the largest share of the global cancer biomarkers market.
The North American cancer biomarkers market’s growth can be attributed to the increasing R&D on cancer biomarkers and rising technological advancements in the development of cancer biomarkers.
Competitive Landscape:
- ILLUMINA
- BIO-RAD LABORATORIES
- HOFFMANN-LA ROCHE Ltd.
- THERMO FISHER SCIENTIFIC, Inc.
- QIAGEN N.V
Major Developments:
In April 2021, F. Hoffmann-La Roche Ltd. Announced the coming of Elecsys Anti-p53 immunoassay to aid the diagnosis of various cancer types.
In December 2020, Thermo Fisher Scientific received FDA approves NGS-based companion diagnostic for EGFR Exon20 insertion mutant non-small cell lung cancer tumour tissue.
In April 2020, Qiagen N.V. launched Therascreen BRAF test as a companion diagnostic to a BRAFTOVI based regimen in metastatic colorectal cancer.\
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Major Questions answered in the report:
- What are the recent trends affecting this Market?
- Which the largest region to account for the Global Cancer Biomarkers?
- What are the major market players for Global Cancer Biomarkers market?
Key Takeaways from the report:
- Development strategies adopted by the key global cancer biomarkers market players.
- The Global Cancer Biomarker market is to reach a value of $53.73 Billion in 2030, with a CAGR of 17.7%.
- Segmental analysis of cancer biomarkers along with Regional insights.
- Major key players running for the global cancer biomarker market.
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