WASHINGTON, Nov. 10, 2022 (GLOBE NEWSWIRE) -- The global Cancer Biomarkers Market was valued at $12.1 Billion in 2021 and is expected to reach $31.8 Billion by 2028, registering a CAGR of 17.5% during the forecast period of 2022-2028.
Vantage Market research has a newly released expansive study titled Global Cancer Biomarkers Market which guarantees you will remain better informed than your competition. This study provides a broader perspective of the marketplace with its comprehensive market insights and analysis which eases survival and succeeding in the market. This Cancer Biomarkers report has been produced, which results in significant growth, as well as robust sustainability in the market for the firms. This is due to the inclusion of precise facts and insights gained from market research. This study analyzes and talks about a variety of topics, including significant industry trends, estimations of market size, and market share. This report provides an advantage that not only allows one to compete but also allows one to excel over one's rivals. It classifies the global Cancer Biomarkers market size in terms of value and volume according to the various types of manufacturers, applications, and regions. The outlook for the Cancer Biomarkers market and the Vitamin C industry as a whole appears to be quite positive during the projection period.
In addition, increasing significance of biological & targeted drug therapies, accuracy, reliability and technological advancements of cancer biomarkers anticipated to propel the growth of Cancer Biomarkers Market during forecast period. However, threat of failure associated with cancer treatment, high cost of drug development, and unregulated government regulations & reimbursement policies hamper the growth of Cancer Biomarkers Market during forecast period. Whereas, advancements of cancer related research activities will create various growth opportunities for Cancer Biomarkers Market in near future.
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Market Dynamics:
Drivers: Increasing Incidences of Cancer Patients Drives the Market
According to WHO (World Health Organization), cancer is the major cause of death in the world. It is estimated that, in 2020, 19.3 million new cancer cases will be found and around 10.0 million cancer deaths have occurred. Thus, in the past few years, there has been huge progress in cancer care due to the adoption of advanced treatment modalities of surgery. In addition, various market players also contribute to the market growth by launching new products or by providing strategic development. For instance, F. Hoffmann-La Roche Ltd., a Swiss multinational healthcare company, introduced Elecsys Anti-p53 immunoassay to aid the diagnosis of various cancer types. Therefore, all these factors are predicting maximum growth of Cancer Biomarkers Market over projected time period.
List of Prominent Players in the Cancer Biomarkers Market:
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Thermo Fisher Scientific Inc. (US)
- Qiagen N.V. (Netherlands)
- Illumina Inc. (US)
- Bio-Rad Laboratories Inc. (US)
- Abbott Laboratories (US)
- Bio Mérieux SA (US)
- Becton-Dickinson and Company (US)
- Merck Millipore (US)
- Agilent Technologies (US)
- Myriad Genetics Inc. (US)
- Sysmex Corporation (Japan)
- Hologic Inc. (US)
- Quest Diagnostics (US)
- Centogene N.V. (Germany)
- PerkinElmer Inc. (US)
- Siemens Healthineers (Germany)
- Exact Sciences (US)
- R&D Systems Inc. (US)
- Bio Vision Inc. (US)
- Olink (Sweden)
- Asuragen Inc. (US)
- Meso Scale Diagnostics LLC (US)
- Invivoscribe Inc. (US)
- Seegene Technologies Inc. (South Korea)
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Key Highlights from the Report:
- On the basis of Application, the market is segmented into Diagnostics, Research & Development, Prognostics, Risk Assessment, and Other Applications. The diagnostics & research laboratories segment dominated the Cancer Biomarkers Market among applications. One of the major factors fueling the segment's growth is the development of new diagnostic products. One factor driving demand for Cancer Biomarkers from pharmaceutical and biotechnology businesses is the increased investment by key market players and the growing importance of biomarker tests in drug research and development. The hospitals & specialty clinics category is growing due to an increase in the number of tests performed at hospitals for in patients suffering from various malignancies.
- On the basis of Profiling Technologies, the market is segmented into Omics Technologies, Imaging Technologies, Immunoassay, Bioinformatics, and Cytogenetics. The Omics Technologies and Imaging Technologies categories accounted for the highest share of the total market share in 2021 and are predicted to increase at a rapid rate in the future due to their effectiveness in cancer early detection. Furthermore, demand for safe and cost-effective cancer medications, advances in profiling technology, increased healthcare expenditure, lower genome sequencing costs, and demand for better cancer diagnostics and therapeutic procedures are projected to fuel market expansion.
- Asia Pacific is the fastest regional segment in terms of growth. Due to the increased usage of biomarker-based tests for cancer detection and the deployment of technologically sophisticated instruments by laboratories in the area, Asia Pacific is expected to rise at a considerable Compound Annual Growth Rate (CAGR) over the forecast period. Furthermore, increased funding and investments from public and commercial organizations in biomarker research and development, as well as the use of biomarkers in patient stratification and the medication development process, is expected to propel the market in the area forward.
Segmentation of Cancer Biomarkers Market:
- Biomarkers Type
- Protein Biomarkers
- Genetic Biomarkers
- Others
- Cancer Type
- Breast Cancer
- Lung Cancer
- Colorectal Cancer
- Prostate Cancer
- Melanoma
- Leukemia
- Thyroid Cancer
- Bladder Cancer
- Non-Hodgkin's Lymphoma Kidney Cancer
- Others
- Profiling Technologies
- Omics Technologies
- Imaging Technologies
- Immunoassay
- Bioinformatics
- Cytogenetics
- Application
- Research & Development
- Prognostics
- Risk Assessment
- Others
- Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Rising Technological Advancements in the Development of Cancer Biomarkers
Aiming to address the challenges in understanding and identifying the functions & interactions of various proteins, there is huge advancement in arrays and proteomics technologies. This advancement helps in simplifying the process of discovery & development of novel cancer biomarkers, which in turn, accelerates the growth of Cancer Biomarkers Market in recent years. In addition, increasing government engagement in the drug development activities will create various growth options for leading players. For instance, Thermo Fisher Scientific, an American supplier of scientific instrumentation, reagents and consumables, and software services, received FDA approval for NGS-based companion diagnostics.
The Report on Cancer Biomarkers Market Highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
North America Holds Largest Market Share
North America accounted for substantial growth for Cancer Biomarkers Market in 2021. The increasing number of cancer patients, improved health care infrastructure, increased government investments, and ongoing projects to develop advanced drugs to treat cancer patients are major factors that influence the growth of Cancer Biomarkers Market in this region. According to the estimates of the American Cancer Society, in the U.S., 1.7 million new cancer cases were diagnosed and 0.6 million deaths occurred due to cancer, in 2018. The most common cancers occurring in the United States are lung cancer, prostate cancer, bladder cancer, colorectal cancer, breast cancer, and skin cancer.
Browse market data Tables and Figures spread through 146 Pages and in-depth TOC on Cancer Biomarkers market Forecast Report (2022-2028).
Recent Developments:
April, 2021: F. Hoffmann-La Roche Ltd. launched Elecsys Anti-p53 immunoassay to aid the diagnosis of various cancer types.
December, 2020: Thermo Fisher Scientific (US) received FDA approval for NGS-based companion diagnostic to help identify non-small cell lung cancer (NSCLC) patients whose tumors carry epidermal growth factor receptor (EGFR) Exon20-insertion mutations for potential treatment.
April, 2020: Qiagen N.V. introduced therascreen BRAF test as a companion diagnostic to a BRAFTOVI (encorafenib) based regimen in metastatic colorectal cancer.
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 12.1 Billion |
| Revenue Forecast by 2028 | USD 31.8 Billion |
| CAGR | 17.5% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Qiagen N.V., Illumina Inc., Bio-Rad Laboratories Inc., Abbott Laboratories, Bio Mérieux SA, Becton-Dickinson and Company, Merck Millipore, Agilent Technologies, Myriad Genetics Inc., Sysmex Corporation, Hologic Inc., Quest Diagnostics, Centogene N.V., PerkinElmer Inc., Siemens Healthineers, Exact Sciences, R&D Systems Inc., Bio Vision Inc., Olink, Asuragen Inc., Meso Scale Diagnostics LLC, Invivoscribe Inc., Seegene Technologies Inc. |
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