Cancer Biomarkers Market to Exceed Value of US$ 31.4 Bn by 2031, States TMR Report

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Sep 19, 2022, 22:30 ET

The cancer biomarkers market is projected to expand at a CAGR of 9.9% during 2022-2031
Surge in cancer patients population globally is expected to help in the expansion of market share for cancer biomarkers
Rise in the R&Ds intended for the development of effectual cancer treatment solutions makes North America a leading market region

WILMINGTON, Del., Sept. 20, 2022 /PRNewswire/ -- The global cancer biomarkers market is prognosticated to surpass a value of US$ 31.4 Bn by 2031, according to a research report by Transparency Market Research (TMR). Furthermore, the study highlights that the market is expected to develop at a CAGR of 9.9% during the forecast period, from 2022 to 2031.

Players operating in the cancer biomarkers market are executing different strategies such as joint ventures, collaborations, mergers, and acquisitions in order to expand their regional presence as well as stay ahead of the competition. Furthermore, major enterprises in the market for cancer biomarkers are focusing on new product launches so as to expand their product portfolios. Such factors are anticipated to play important role in the overall development of the cancer biomarkers market in the near future, stat analysts of a TMR study.

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Cancer Biomarkers Market: Key Findings

Cancer biomarkers are gaining impetus in the healthcare industry owing to their ability to assist in timely cancer diagnosis and development of personalized treatment plan for cancer. Over the period of past few years, there has been a surge in the cases of different types of cancers including ovary cancer, small cell lung cancer, and thyroid cancer globally. This factor is resulting into a rise in the demand for HER2 biomarkers and CEA biomarkers for cancer detection, which in turn, is leading to profitable prospects in the cancer biomarkers market.
The cancer biomarkers market in healthcare industry demand analysis by TMR notes that there has been a rise in the number of older people across the globe. Moreover, major healthcare organizations worldwide are increasing the adoption of technological advancements in order to provide improved health services to patients. These factors are fueling the sales growth in the cancer biomarkers market.
Protein biomarkers are being increasingly adopted in different cancer-related researches in the recent years for precise detection of different types of cancers. The government authorities of several developed and developing countries worldwide are promoting research projects that are focused on the development of effective cancer treatment solutions. Hence, rising researchers on cancer treatment is expected to boost the demand for protein biomarkers, which in turn, is expected to lead to the protein biomarkers segment contributing the largest revenue share in the cancer biomarkers market during the forecast period.

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Cancer Biomarkers Market: Growth Boosters

Surge in the prevalence of cancer globally is anticipated to fuel the market growth, states TMR's future market outlook for cancer biomarkers
Rise in the adoption of advanced technologies for precise cancer diagnosis is creating prominent business opportunities in the cancer biomarkers market

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Cancer Biomarkers Market: Regional Analysis

The North America cancer biomarkers market is projected to maintain leading position during the forecast period owing to many factors such as a rise in the cases of cancer in regional nations including Canada and the U.S. together with surge in increase in R&Ds focused on the development of next-gen cancer biomarkers in the region
Players are expected to gain substantial business opportunities in Europe during the forecast period. The growth of the Europe market is ascribed to a rise in the cancer population and increase in the adoption of advanced technologies in cancer treatments in the regional healthcare industry.

Cancer Biomarkers Market: Key Players

Some of the key players profiled in the report are:

Thermo Fisher Scientific, Inc.
F. Hoffmann-LA Roche Ltd.
Abbott Laboratories
Merck & Co, Inc.
PerkinElmer, Inc.
Bristol-Myers Squibb Company
Siemens AG
Qiagen N.V.
Novartis AG
Exact Sciences Corporation
Illumina
Bio-Rad Laboratories
Hologic, Inc.
Agilent Technologies Inc.
bioMérieux SA

Cancer Biomarkers Market Segmentation

Type

Protein
Genetic
Others

Type of Cancer

Lung
Breast
Leukemia
Melanoma
Colorectal
Prostate
Ovarian
Liver
Others

Profiling Technology

Omics
Imaging
Immunoassay
Bioinformatics
Others

Application

Diagnostics
R&D
Prognostics
Others

Regions Covered

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Research Reports by Transparency Market Research:

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