Pune, India, Feb. 14, 2023 (GLOBE NEWSWIRE) -- The global cancer biomarkers market size was valued at USD 18.94 billion in 2018. The market in 2018 is projected to grow from USD 18.94 billion to USD 48.20 billion by 2026, exhibiting a CAGR of 12.4% during the forecast period. Biomarkers help to detect cancer at an early stage and facilitate noninvasive diagnosis at high speed by utilizing different proteomic and genomic markers.
Some of the key factors driving the market include advancements in technology, increased funding for research and development, and a shift towards targeted therapies. The use of liquid biopsy for early detection and monitoring of cancer is becoming increasingly popular and is expected to be a major growth area for the market. In addition, North America is currently the largest market for cancer biomarkers, but the Asia-Pacific region is expected to see significant growth due to the increasing incidence of cancer and growing healthcare infrastructure.
Key Industry Development
Roche announced the company has received the approval from US Food and Drug Administration for VENTANA ALK (D5F3) CDx Assay as a companion diagnostic. This assay test is the only test, which was approved by FDA as a companion diagnostic for LORBRENA and will help in identifying patients with this cancer biomarker quickly so they can be given more treatment that is effective.
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| Report Coverage | Details |
| Forecast Period | 2019 to 2026 |
| Forecast Period 2019 to 2026 CAGR | 12.4% |
| 2026 Value Projection | USD 48.20 Billion |
| Base Year | 2018 |
| Regenerative Medicine Market Size in 2018 | USD 18.94 Billion |
| Historical Data | 2015 to 2017 |
| No. of Pages | 125 |
| Segments Covered | Cancer Type, Biomarker Type, End User and Geography |
Key Takeaways
- Growing at a CAGR of 12.4%, the market will exhibit steady growth in the forecast period (2019-2026)
- Breast cancer is expected to be the leading segment with respect to cancer type, in this market during the forecast period.
- The rising prevalence of cancer and the growing adoption of personalized medicine are some of the factors anticipated to promote market growth.
- F. Hoffmann-La Roche Ltd., Abbott, and Thermo Fisher Scientific are some of the top market players in the global market
- North America dominated the market in 2018.
Market Drivers
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.
- Many pharmaceutical companies are investing massive amounts into the research and development of novel biomarkers for cancer therapeutics.
- Multiple 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.
- 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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Regional Segmentation:
North America to Emerge Dominant Owing to Higher Adoption of Next-Generation Sequencing
From a geographical perspective, the global cancer biomarker market is widespread in 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 of 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 is coupled with increasing support from government and private bodies for the drug development process and patient stratification.
Market Segmentations:
The oncology biomarkers market is segmented by type, biomarker type, and end user. The breast cancer segment holds the largest market share due to the increasing prevalence of breast cancer and growing awareness of diagnostic tests.
The biomarker type segment is categorized into PSA, HER-2, EGFR, KRAS, and others, with HER-2 being the largest segment due to rising breast cancer cases and awareness of disease diagnosis in developed and developing countries.
The end-user segment includes pharmaceutical & biotechnology companies, diagnostics & research laboratories, hospitals & specialty clinics, and others. The diagnostics & research laboratories segment dominates the market due to their significant role in cancer diagnosis and treatment. With the increasing number of cancer cases and demand for early detection, the oncology biomarkers market is expected to grow significantly in the coming years.
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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Table OF Content
- Key Insights
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- 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
- Market Analysis, Insights and Forecast – By Cancer Type
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- Key Findings / Summary
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- Lung Cancer
- Breast Cancer
- Colorectal Cancer
- Prostate Cancer
- Others
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- Market Analysis, Insights and Forecast – By Biomarker Type
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- PSA
- HER-2
- EGFR
- KRAS
- Others
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- Market Analysis, Insights and Forecast – By End User
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- Pharmaceutical & Biotechnology Companies
- Diagnostics & Research Laboratories
- Hospitals & Specialty Clinics
- Others
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- Market Analysis, Insights and Forecast – By Region
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- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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- North America Cancer Biomarkers Market Analysis, Insights and Forecast, 2015-2026
TOC Continued…!
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