High target disease prevalence, product launches, increasing strategic developments such as partnerships and agreements, favourable research funding scenario are key factors contributing to high CAGR of Cancer Biomarkers during forecast period.
Market Size – USD 12.14 Billion in 2018, Market Growth - CAGR of 12.75%. Market Trends – Product launches and research for Cancer biomarkers.
NEW YORK, May 21, 2019 (GLOBE NEWSWIRE) -- According to the current analysis of Reports and Data, the global Cancer Biomarkers market was valued at USD 12.14 Billion in 2018 and is expected to reach USD 32.25 Billion by year 2026, at a CAGR of 12.75%.
According to the Centre for Disease Control and Prevention (CDC), for around 22,000 men and 9,000 women suffer from liver cancer, and around 16,000 men and 8,000 women die from liver cancer in United States. Cancer biomarkers are the molecules released from cancerous tumours which are found in blood and other tissues which can be detected by diagnosing, screening and prediction for the progression of the disease.
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Development of advanced genomic analysis technique, introduction of effective guidelines for biomarkers manufacturing, huge amount of research by Cancer societies and proven effectiveness of transplants are some of the primary growth stimulants for the market. Certain manufacturing and pharmacological issues and regulatory hurdles are hindering the growth of the market.
Development of products from research institutes has been propelling the growth of this market. For instance, in January 2018, Researchers from University of Luxembourg have discovered a new biomarker for colorectal cancer which classifies patients into “high” and “low” risk group which may help oncologists to choose the adequate treatment for a particular patient.
Further key findings from the report suggest
- Cancer Biomarkers market is fastest growing at a CAGR of 7% in Asia Pacific due to high awareness about biomarkers and rise in aging population and even rising incidences of cancer
- The market for lung cancer disease type segment (i.e. small cell lung cancers, non-small cell lung cancers) is expected to hold the fastest growing CAGR because of increase in population who smoke and due to very low air purity
- Europe is the second largest region with a share of 28.5% due to the high cases of cancer in France, Ireland, etc
- Genetics Biomarkers is accounted to be the second leading segment which is valued holds a market share of 20.8% due to high usage and perfect accuracy rate
- Immunoassays segment is projected to have the highest CAGR among the other application type
- North America is expected to account for the 39.1% of the global Cancer Biomarkers market owing to the presence of high quality healthcare equipment
- Prognostics segment holds the second largest share in this market which is valued at USD 3440.8 million due to maximum population are aware about the new technologies
- Key participants include Abbott Laboratories, Agilent Technologies, Merck & Co Inc., Novartis, Pfizer, Qiagen N.V and Thermo Fischer Scientific Inc
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Segments covered in the report:
For the purpose of the study, this Reports and Data has segmented the Global Cancer Biomarkers Market on the basis of biomolecule type, disease type, profiling technologies, application, services and the regional outlook:
Biomolecule Type (Revenue, USD Million; 2016–2026)
- Genetic Biomarkers
- Epigenetic Biomarkers
- Proteomic Biomarkers
- Glycoprotein Biomarkers
Disease Type (Revenue, USD Million; 2016–2026)
- Breast Cancer
- Blood Cancer
- Lung Cancer
- Cervical Cancer
- Colorectal Cancer
- Melanoma
- Ovarian Cancer
- Liver Cancer
- Stomach Cancer
Profiling Technologies (Revenue, USD Million; 2016–2026)
- Imaging technologies
- Ultrasound
- Computed Technology (CT)
- Magnetic Resource Imaging (MRI)
- Positron Emission Tomography (PET)
- Omic Technologies
- Proteomics
- Genomics
- Others
- Cytogenetics-Based Tests
- Immunoassays
- Bioinformatics
Application (Revenue, USD Million; 2016–2026)
- Risk Assessment
- Prognostics
- Disease Diagnosis
- Personalised Medicine
- Drug Discovery and Development
Method (Revenue, USD Million; 2016–2026)
- Sample Preparation
- Assay Development
- Biomarkers and Testing
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Regional Outlook (Revenue, USD Million; 2016-2026)
- North America
- U.S.
- Europe
- UK
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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