Pune India, Dec. 15, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the cancer biomarker market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the cancer biomarker market is present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the type, biomolecule, application, and region. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global cancer biomarker market are Abbott Laboratories, Thermo Fisher Scientific Inc., Bio Rad Laboratories Inc., Roche Holding AG, GE Healthcare, Illumina, Inc., Siemens AG, Bristol-Myers Squibb, Toshiba Medical Systems Corporation, Koninklijke Philips N.V., Agilent Technologies Inc. among others. To achieve a substantial market share in the worldwide Cancer biomarker market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Early cancer detection is critical for therapy options to be useful and effective. Biomarkers are essential for clinical applications and anticancer drug research, such as prognosis evaluation and therapy response monitoring. Conventional cancer screening procedures are expensive, time-consuming, and inconvenient for routine testing. Biomarker-based cancer diagnostics, on the other hand, is one of the most promising ways for early identification, following the progression of the disease, and eventually treating cancer. Cancer biomarkers (CB) are biological markers that can be used to identify the genetic features of malignant cells. Proteins, nucleic acids, antibodies, and peptides are some of the most frequent types of biomarkers. Cancer biomarkers are also a set of proteomic, metabolic, and gene expression features. As clinical research progress, numerous genetic and protein-based cancer biomarkers are now being used in patient care. BCR-ABL (Chronic Myeloid Leukemia), AFP (Liver Cancer), CA-125 (Ovarian Cancer), CA19.9 (Pancreatic Cancer), EGFR (Non-small-cell lung carcinoma), HER-2 (Breast Cancer), KIT (Gastrointestinal Stromal Tumor), CEA (Colon Cancer), and CEA (Colon Cancer) are examples. Early cancer detection and diagnosis are critical for extending cancer patients' lives and improving their health outcomes. This necessitates the capacity to detect low amounts of specific target proteins in clinical specimens promptly and cheaply.
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Scope of Cancer Biomarker Market Report
| Report Metric | Information |
| Study Period | 2021-2029 |
| Base Year | 2021 |
| Forecast Period | 2022-2029 |
| Market Share Unit | USD Billion |
| Segments Covered | Type, Biomolecule, Application, and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle-East and Africa |
| Major Players | Abbott Laboratories, Thermo Fisher Scientific Inc., Bio Rad Laboratories Inc., Roche Holding AG, GE Healthcare, Illumina, Inc., Siemens AG, Bristol-Myers Squibb, Toshiba Medical Systems Corporation, Koninklijke Philips N.V., Agilent Technologies Inc. among others. |
Segmentation Analysis
Breast cancer segment is expected to be the fastest growing segment in 2021.
The type segment is breast cancer, prostate cancer, liver cancer, lung cancer, and others. The breast cancer segment is expected to witness the highest growth rate during the forecast period. According to the World Health Organization (WHO) and the International Agency for Research on Cancer (IARC), 2.3 million women will be diagnosed with breast cancer in 2020, resulting in 685,000 deaths worldwide. By the end of 2020, 7.8 million women would have gotten a breast cancer diagnosis within the previous five years, making it the most commonly diagnosed cancer type worldwide. Breast cancer accounts for approximately 30% of all female malignancies worldwide, with a 15% mortality-incidence ratio. Clinical markers are heavily used in breast cancer identification and treatment.
The drug discovery and development segment is expected to be the fastest-growing segment in 2021.
The application segment includes personalized medicine, drug discovery and development, diagnostics, and others. The drug discovery and development segment is expected to witness the highest growth rate during the forecast period. Clinical drug development, particularly for customized anti-cancer medicines, has shown that biomarker-driven enrichment trials are required. By the end of 2018, more than 30 medications had been developed in conjunction with a biomarker test, and their use had been validated by a CDx assay approved by the FDA.
The epigenetic segment is expected to be the fastest-growing segment in 2021.
The biomolecules segment includes genetic, metabolic, proteomic, epigenetic, and others. The epigenetic segment is expected to witness the highest growth rate during the forecast period. Promoter hypermethylation, chromatin remodeling, and histone modifications are examples of epigenetic biomarkers, which are changes to gene expression without a change in the DNA sequence. Epigenetic biomarker research has simplified risk assessment, cancer diagnosis, and disease classification.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the LPG Tanker include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa and Saudi Arabia.
- The North America region witnessed a major share. The presence of pharmaceutical companies and research institutions in the United States and Canada, the expansion of government initiatives and programs related to cancer drug therapy and treatment options, and the global expansion of the healthcare industry are all factors contributing to the increasing demand for cancer biomarkers. The National Institutes of Health, the FNIH, and 12 major pharmaceutical companies formed the Partnership for Accelerating Cancer Therapies (PACT), a five-year, USD 220 million public-private research collaboration. PACT's goal is to uncover, develop, and validate reliable biomarkers in order to progress innovative cancer drugs and treatments that use the immune system to fight cancer. This is a primary driver of market revenue growth in this sector.
Country Analysis
- Germany
Germany's cancer biomarker market size was valued at USD 1.41 billion in 2021 and is expected to reach USD 4.31 billion by 2029, at a CAGR of 15% from 2022 to 2029. As a result of the country's desirable healthcare policies and high average per capita healthcare costs, Germany has produced a favourable climate for the adoption of cutting-edge cancer detection technology such as imaging. Furthermore, the presence of major players fosters regional growth. The growth strategies of these companies, which include new releases, will help Germany's overall expansion.
- China
China’s cancer biomarker market size was valued at USD 3.27 billion in 2021 and is expected to reach USD 11.48 billion by 2029, at a CAGR of 17% from 2022 to 2029. Rising cancer prevalence, a conducive environment for clinical trials, and more government funding for drug development programs are projected to drive the region's cancer biomarker market. Furthermore, one of the primary growth factors is the rising attention paid to this region by pharmaceutical companies, as well as the growing adoption of biomarker-based diagnosis.
- India
India's cancer biomarker market size was valued at USD 2.67 billion in 2021 and is expected to reach USD 8.75 billion by 2029, at a CAGR of 16% from 2022 to 2029. The cancer biomarker market in India is predicted to grow rapidly in the future decade, owing to rising demand for tailored medication and growing awareness among patients and healthcare professionals about the importance of early detection of malignancies. Early diagnostic biomarkers enable clinicians to make better treatment options, resulting in a faster recovery. According to projections, the adoption rate will rise as more new cancer biomarker treatments and diagnostics obtain regulatory approval.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven by increasing cases of cancer.
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