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
Based on Cancer Type
Based on Application
Based on Profiling 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:
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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