Key Players covered in the Cancer Biomarkers Market Research Report are 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
Pune, India, Oct. 28, 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.As per a recently published report by Fortune Business insights™ titled, “Cancer Biomarkers Market Size, Share & Industry Analysis, By Cancer Type (Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer And Others), By Biomarker Type (PSA, HER-2, EGFR,KRAS, and others), By End User (Pharmaceutical & Biotechnology Companies, Diagnostics & Research Laboratories, Hospitals &Specialty Clinics, and Others), and Regional Forecast, 2019-2026,” the market size was USD 18.94 billion in 2018 and will exhibit a CAGR of 12.4% between 2019 and 2026.
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.
Report Scope & Segmentation
Forecast Period 2021 to 2028 CAGR
2028 Value Projection
USD 48.20 Billion
Market Size in 2021
USD 18.94 Billion
Historical Data for
2015 to 2017
No. of Pages
By Product Type, By Cancer Type, Geography
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
Many pharmaceutical companies are investing massive amounts into research and development of novel biomarkers for cancer therapeutics.
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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 studiesare 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 indeveloping 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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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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Substantial Investment in Research and Development of Novel Therapeutics to Escalate Market Competition
The global cancer biomarker market is semi-consolidated in nature. Notable players operating in the market are engaging in strategic collaborations such as mergers and acquisitions, joint ventures, company collaborations, and others to gain an edge in the market competition. Apart from this, players are investing massive amounts into research and development of novel therapeutic solutions for various cancer types. Thermo Fisher Scientific, Inc., Abbott, and F. Hoffmann-La Roche Ltd. are currently holding dominant cancer biomarker market shares.
List of Key Cancer Biomarker Manufacturers:
F. Hoffmann-La Roche Ltd.
Thermo Fisher Scientific
Bio-Rad Laboratories, Inc.
Sino Biological Inc.
Sino Biological Inc.
Table of Contents:
Definitions and Assumptions
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
Market Analysis, Insights and Forecast – By Biomarker Type
Market Analysis, Insights and Forecast – By End User
Pharmaceutical & Biotechnology Companies
Diagnostics & Research Laboratories
Hospitals & Specialty Clinics
Market Analysis, Insights and Forecast – By Region
Middle East & Africa
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