Pune, India, Feb. 26, 2021 (GLOBE NEWSWIRE) -- The global cancer biomarkers market size is forecast to reach USD 48.20 billion by 2026 on account of the increasing popularity of personalized treatment for cancer worldwide. Biomarkers help to detect cancer at an early stage and facilitate noninvasive diagnosis at high-speed by utilizing different proteomic and genomic markers. The market size was USD 18.94 billion in 2018 and will exhibit a CAGR of 12.4% between 2019 and 2026.
The report offers a comprehensive overview of the market and its prime growth trajectories, such as drivers, restraints, challenges, and opportunities. It throws light on recent oncology biomarker market trends, key industry developments, and other interesting insights. The report emphasizes on the table of segmentation based on factors such as cancer type, biomarker type, end user, and geography. The report discusses the list of players operating in the market and the prime strategies adopted by them to gain a competitive edge in the market. For more information on the report, log on to the company website.
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Significant Industry Developments of Cancer Biomarkers Market Include:
March 2018 – Oncotype DX AR-V7 nucleus detect test, a predictive and prognostics biomarker was launched by Genomic Health Inc. The test helps in therapeutic decisions among patients who suffer from metastatic castration-resistant prostate cancer (mCRPC) by recognizing a connected variant of the androgen receptor protein namely AR-V7 situated in the nucleus of the circulating tumor cells (CTCs).
November 2018 – A collaborative agreement was signed between AstraZeneca and Biocartis Group NV to obtain molecular diagnostics biomarker for quick results in lung cancer patients across the European region.
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North America to Emerge Dominant Owing to Higher Adoption of Next-Generation Sequencing
From a geographical perspective, the global cancer biomarker market is widespread into the regions of North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Each of these regions is further categorized into nations. Among these, North America earned USD 6.88 billion in 2018 and emerged dominant owing to the high adoption personalized medicine. Europe ranks second in the market with a rising number of research studies for using biomarkers in development and discovery.
Furthermore, the market in the Asia Pacific is expected to contribute significant oncology biomarker market share on account of rising in investments for research and development of biomarkers. This, coupled with increasing support from government and private bodies for the drug development process and patient stratification.
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Rise in Prevalence of Cancer Worldwide to Augment Growth
The increasing prevalence of cancer is a prime factor boosting the cancer biomarkers market growth. In addition to this, the market is also witnessing a significant rise on account of the growing demand for drug discovery and development for various cancer types. Additionally, many pharmaceutical companies are investing massive amounts into research and development of novel biomarkers for cancer therapeutics. Moreover, many clinical trials and pipeline studies are currently heading towards the end stages of development, and their market entry is likely to attract high cancer biomarkers market revenue in the coming years.
On the flip side, the market may face challenges in terms of reimbursement policies supported by the governments. This is further attributed to the high cost of treatment for cancer, especially in developing nations. Nevertheless, government support in spreading awareness about cancer, and the availability of treatment options for the same are likely to create lucrative growth opportunities for the market in the forthcoming years.
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List of Key Cancer Biomarker Market Manufacturers:
- Myriad RBM
- Abbott
- F. Hoffmann-La Roche Ltd.
- BioVision Inc.
- Thermo Fisher Scientific
- R&D System
- Bio-Rad Laboratories, Inc.
- Sino Biological Inc.
- CENTOGENE N.V.
- Sino Biological Inc.
- Axon Medchem
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence/ Incidence, by Cancer Type, by Key Regional/ Countries
- New Product Launches, by Key Market Players
- Pipeline Analysis, Cancer Biomarkers
- Key industry Developments - Mergers, Acquisitions and Partnerships
- Global Cancer Biomarkers Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Cancer Type
- Lung Cancer
- Breast Cancer
- Colorectal Cancer
- Prostate Cancer
- Others
- Market Analysis, Insights and Forecast – By Biomarker Type
- PSA
- HER-2
- EGFR
- KRAS
- Others
- Market Analysis, Insights and Forecast – By End User
- Pharmaceutical & Biotechnology Companies
- Diagnostics & Research Laboratories
- Hospitals & Specialty Clinics
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Cancer Biomarkers Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Cancer Type
- Lung Cancer
- Breast Cancer
- Colorectal Cancer
- Prostate Cancer
- Others
- Market Analysis, Insights and Forecast – By Biomarker Type
- PSA
- HER-2
- EGFR
- KRAS
- Others
- Market Analysis, Insights and Forecast – By End User
- Pharmaceutical & Biotechnology Companies
- Diagnostics & Research Laboratories
- Hospitals & Specialty Clinics
- Others
- Market Analysis, Insights and Forecast – By Country/ Sub-region
- U.S.
- Canada
TOC Continued….!!
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