Oncology Biomarkers Market Forecast to Reach $23 Billion by 2027 According to New Research Report

Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "Global Oncology Biomarkers Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

The recently published report on the oncology biomarkers market encapsulates significant growth aspects, technological advancements, and the impact of the socio-economic landscape on this booming industry. With a staggering projected CAGR of 14.7% in 2023, the market is anticipated to burgeon from a valuation of $11.92 billion in 2022 to $13.68 billion in the current year, despite the pervasive challenges stemming from geopolitical tensions and global inflation.

Market Dynamics Influencing Growth
The substantial uptick in oncology biomarkers market size can be attributed to the surging incidences of cancer worldwide, necessitating the deployment of biomarkers for improved detection, prognosis, and treatment efficacies. This trend is substantiated by the significant statistics reported by reputable health organizations, which indicate millions of new cancer cases and related fatalities each year.

In parallel, the market witnesses an advent of state-of-the-art technologies which is a testament to the industry's innovative spirit. Case in point, the introduction of OncoDEEP by OncoDNA using Next-generation sequencing (NGS) exemplifies the advanced solutions entering the oncology biomarkers landscape, reinforcing its vital role in precision medicine.

In Summary

  • The oncology biomarkers market is projected to ascend to new heights with a forecasted value of $23.01 billion by 2027.

  • Innovative technologies like NGS are propelling the industry forward amidst a landscape challenged by global tensions and economic variances.

  • North America has emerged as the key player in the global market, with comprehensive coverage of other geographies also included.

  • The market is geared towards aiding healthcare institutions in diagnosing, researching, and managing cancer more effectively.

  • A detailed exploration of market segments underscores the evolving landscape of oncology biomarkers.

The essence of this report is to elucidate current market conditions and project future trends, illustrating the oncology biomarkers sector's sustained growth and adaptability amidst dynamic global shifts.

Key Attributes:

Report AttributeDetails
No. of Pages175
Forecast Period2023 - 2027
Estimated Market Value (USD) in 2023$13.68 billion
Forecasted Market Value (USD) by 2027$23.01 billion
Compound Annual Growth Rate13.9%
Regions CoveredGlobal

A selection of companies mentioned in this report includes

  • F Hoffmann-La Roche AG
  • Novartis AG
  • Thermo Fisher Scientific Inc.
  • Abbott Laboratories
  • Eli Lilly and Company
  • Merck KGaA
  • Siemens Healthcare GmbH
  • Becton Dickinson and Company
  • GE Healthcare Technologies Inc.
  • Eurofins Scientific SE
  • Agilent Technologies Inc.
  • Hologic Inc.
  • Illumina Inc.
  • Charles River Laboratories International Inc.
  • bioMerieux SA
  • Bio-Rad Laboratories Inc.
  • Bruker Corporation
  • Exact Sciences Corporation
  • Sysmex Corporation
  • PerkinElmer Inc.
  • Leica Biosystems
  • Myriad Genetics Inc.
  • Guardant Health Inc.
  • Enzo Biochem Inc.
  • Biocartis Group NV
  • Bristol -Myers Squibb Company
  • Agendia Inc.
  • Epigenomics AG
  • OncoDNA SA.

For more information about this report visit https://www.researchandmarkets.com/r/dwbv27

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Global Oncology Biomarkers Market