The Global Cancer Biomarkers Market to Upsurge at a Tremendous CAGR of ~14% by 2027 | DelveInsight

The cancer biomarkers market is experiencing positive market growth as a result of an increase in the prevalence of various types of cancers worldwide, a growing population with risk factors for cancer development such as smoking and a high-fat diet, among others, and increased research and development activities in the cancer biomarkers arena leading to new product launches and increasing regulatory approvals, which are expected to result in appreciable revenue growth.

LAS VEGAS, Feb. 13, 2023 /PRNewswire/ -- DelveInsight's Cancer Biomarkers Market Insights report provides the current and forecast market analysis, individual leading cancer biomarkers companies' market shares, challenges, cancer biomarkers market drivers, barriers, and trends, and key cancer biomarkers companies in the market.

Key Takeaways from the Cancer Biomarkers Market Report

• As per DelveInsight estimates, North America is anticipated to dominate the global cancer biomarkers market during the forecast period. 
• Notable cancer biomarkers companies such as F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific, Inc., QIAGEN N.V., Illumina, Inc., Bio-Rad Laboratories, Inc., Abbott Laboratories, bioMérieux SA, BD, Merck Millipore, Agilent Technologies, Myriad Genetics, Sysmex Corporation, Hologic, Inc., Quest Diagnostics, Centogene N.V., PerkinElmer, Inc., Siemens Healthineers, Exact Sciences, R&D Systems, Inc., BioVision, Inc., and several others are currently operating in the cancer biomarkers market.
• In January 2023, Lunit, in collaboration with Guardant Health, announced the integration of its AI-based PD-L1 scoring algorithm into Guardant's testing workflow to improve biomarker detection in the Guardant360 TissueNextTM PD-L1 test for non-small cell lung cancer (NSCLC).
• In November 2022, EDX Medical Group plc, which develops innovative digital diagnostic products and services for cancer, heart disease, neurology, and infectious disease testing, announced a collaborative cancer biomarker program that will improve access to cost-effective and reliable tests for a variety of cancers in the United Kingdom and Europe.
• In September 2022, AstraZeneca, an Anglo-Swedish pharmaceutical company, and Roche, a Swiss company, announced a collaboration to redefine cancer diagnosis and treatment in the Middle East and North Africa. The collaboration aims to remove barriers to biomarker testing and expand access to precision medicines in a region where cancer is expected to double by 2030.
• In August 2022, the US Food and Drug Administration (FDA) granted 510(k) clearance to a blood-based biomarker assay for disease monitoring in patients with metastatic breast cancer (MBC). The Divitum Tka assay, developed by Biovica International AB in Uppsala, Sweden, measures the activity of the enzyme thymidine kinase-1 (TK1), which is linked to cell proliferation and is a predictor of tumor aggressiveness. It is the first FDA-approved liquid cancer cell proliferation biomarker assay for monitoring metastatic breast cancer.
• In February 2022, OncoDNA, a genomic and theranostic company, announced the launch of OncoDeep kit, integrating both reagents and quality control standards for the sequencing of over 600 cancer biomarkers, which provide powerful data analysis and support oncologists in the most effective and personalized treatments for cancer patients.

To read more about the latest highlights related to the cancer biomarkers market, get a snapshot of the key highlights entailed in the Global Cancer Biomarkers Market Report

Cancer Biomarkers Overview

Cancer biomarkers are biological molecules that aid in the detection of cancer in patients. They are produced by either cancer cells or non-cancer cells in response to the onset and progression of cancer. They can be identified from serum and used for personalized daily care in screening, diagnosis, prognosis, treatment monitoring, and detecting relapse. Despite advances in cancer treatment, some people do not respond to traditional chemotherapy treatment paradigms or experience disease recurrence. Biomarkers are becoming more important in the clinical care of cancer patients as genomic profiling technologies and selective molecular targeted therapies advance.

The use of biomarkers in cancer treatment has changed the course of treatment dramatically. For decades, many cancers were treated in the same way: with surgery, radiation therapy, or chemotherapy. The identification of biomarkers in cancer cells has resulted in the development of novel precision medicine treatments, such as targeted therapy and immunotherapy, which are designed to target specific traits in cancer cells while causing minimal harm to healthy cells.

Cancer Biomarkers Market Insights

North America dominated the global cancer biomarkers market in 2021 and will continue to do so through the forecast period (2022–2027). This dominance is due to the rising prevalence of various types of cancers in North America. Furthermore, product development activities such as gaining regulatory approvals is expected to boost the North American cancer biomarkers market during the forecast period. For instance, in August 2022, the US Food and Drug Administration (FDA) granted 510(k) clearance to a blood-based biomarker assay for disease monitoring in patients with metastatic breast cancer (MBC). The Divitum Tka assay, developed by Biovica International AB in Uppsala, Sweden, measures the activity of the enzyme thymidine kinase-1 (TK1), which is linked to cell proliferation and is a predictor of tumor aggressiveness. It is the first FDA-approved liquid cancer cell proliferation biomarker assay for monitoring metastatic breast cancer.

To know more about why North America is leading the market growth in the cancer biomarkers market, get a snapshot of the Cancer Biomarkers Market Outlook 

Cancer Biomarkers Market Dynamics

One of the major factors driving the growth of the cancer biomarkers market is the global increase in the prevalence of various types of cancer. As per the data cited by the World Health Organization 2022, worldwide, around 2.26 million cases of breast cancer, 2.21 million cases of lung cancer, 1.93 million cases of colon and rectum cancer, 1.41 million cases of prostate cancer, and 1.09 million cases of stomach cancer were reported in 2020. Because of the large number of cancer patients worldwide, diagnostic and prognostic procedures and research and development activities are expected to increase significantly, boosting market demand for cancer biomarkers during the forecast period (2022–2027).

However, certain technical issues related to sample collection and storage, high costs incurred in R&D activities, limited infrastructural facilities, and others may act as restraints on the growth of the cancer biomarkers market.

Additionally, the COVID-19 pandemic had a negative impact on the cancer biomarkers market. During the early stages of the pandemic, sales of all cancer biomarker tests, diagnoses, and research activities declined due to the imposition of strict lockdown rules, a lack of funding, and less sample collection because the majority of healthcare facilities were involved in dealing with the COVID-19 situation. Furthermore, during the pandemic, COVID-19 patients were given priority in terms of diagnosis and treatment, resulting in a decrease in the number of cancer diagnoses and treatments unless and until the cases involved emergencies or required immediate treatment.

However, as lockdown restrictions were eased, resources and supply chains improved, and the vaccine was made available to the public, demand for cancer biomarkers increased and is expected to grow during the forecast period.

Get a sneak peek at the cancer biomarkers market dynamics @ Cancer Biomarkers Market Dynamics Analysis

Cancer Biomarkers Market Assessment

• Cancer Biomarkers Market Segmentation
• Market Segmentation By  Type: Protein, Genetic, and Others
• Market Segmentation By  Cancer Type: Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, and Others
• Market Segmentation By  Technology: Omics, Imaging, Immunoassay, and Others
• Market Segmentation By  Application: Diagnostics, Drug Delivery, Prognostics, and Others
• Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
• Porter's Five Forces Analysis, Product Profiles, Case Studies, KOL's Views, Analyst's View

Which MedTech key players in the cancer biomarkers market are set to emerge as the trendsetter explore @ Cancer Biomarkers Companies 

Table of Contents 

Interested in knowing the cancer biomarkers market by 2027? Click to get a snapshot of the Cancer Biomarkers Market Trends

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