Global Cancer Biomarkers Market Size Worth $31695.03 Mn by 2028 at 16.90% CAGR - Industry Share, Trends, Forecast Report by Zion Market Research
NEW YORK, May 3, 2022 /PRNewswire/ -- As per Zion Market Research study, The global Cancer Biomarkers market was worth around USD 12,419.50 million in 2021 and is estimated to grow to about USD 31695.03 million by 2028, with a compound annual growth rate (CAGR) of approximately 16.90 percent over the forecast period. The report analyzes the Cancer Biomarkers market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Cancer Biomarkers market.
Key Industry Insights & Finding of the Cancer Biomarkers Market Reports:
- As per the analysis shared by our research analyst, the Cancer Biomarkers Market is expected to grow annually at a CAGR of around 16.90% (2022-2028).
- Through the primary research, it was established that the Cancer Biomarkers Market was valued approximately USD 12,419.50 Million in 2021 and is projected to reach to roughly USD 31695.03 Million by 2028.
- North America dominates the cancer biomarkers market due to its strong base of healthcare facilities, rising investment from key players in the development of advanced devices, increasing number of processes pertaining to drug development, detection of specific tumors, monitoring biological response to cancer therapy, and rising number of research activities.
- Asia-Pacific is expected to grow significantly between 2022 and 2028, owing to an increase in government initiatives to raise awareness, an increase in medical tourism, increased research activities in the region, rising cancer prevalence, and a growing demand for quality healthcare in the region.
Zion Market Research published the latest report titled as "Cancer Biomarkers Market By Biomarkers Type (Protein Biomarkers, Genetic Biomarkers and Other Cancer Biomarkers), By Cancer Type (Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Melanoma, Leukemia, Thyroid Cancer, Bladder Cancer, Non-Hodgkin's Lymphoma, Kidney Cancer and Other Cancer Types), By Profiling Technologies (Omics Technologies, Imaging Technologies, Immunoassay, Bioinformatics and Cytogenetics), By Application (Diagnostics, Research & Development, Prognostics, Risk Assessment and Other Applications) and By Region – Global Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data and Forecasts 2022 – 2028." into their research database.
Cancer Biomarkers Market: Overview
Cancer biomarkers are biological molecules that are produced by tumor cells or human tissues in response to cancer and are then measured and evaluated as indicators of cancerous processes within the body. Cancer biomarkers are widely used in the detection and management of cancer patients. Biomarkers are used in the follow-up surveillance and early detection of possible recurrent disease in cancer patients who have undergone curative surgery. Furthermore, ongoing advancements in cancer diagnosis include the incorporation of molecular biomarkers into routine diagnostic tests. Various governments are focusing on investing in cancer prevention and early intervention in order to reduce the emotional and physical impact of cancer on patients and their families. Furthermore, national healthcare departments are actively involved in cancer research and treatment development. The rising cancer incidence is expected to spur innovation and development in the field of cancer diagnosis using biomarkers.
The rising prevalence of cancer, particularly lung cancer, around the world is one of the major factors driving market value growth. Rising R&D spending on medical instruments and devices, especially in developed and developing economies, will open up even more lucrative market growth opportunities. Research and development capabilities for drug discovery are also boosting market growth rates. The federal government's increased funding is expected to drive the market's growth rate. Furthermore, the growth and expansion of the healthcare industry, driven by both public and private players, will create lucrative personal health devices market growth opportunities, particularly in developing economies.
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Industry Dynamics:
Cancer Biomarkers Market: Growth Dynamics
Drivers: Technological advancements on the rise In the creation of cancer biomarkers
Advances in array and proteomics technologies have addressed the difficulties in identifying and comprehending the functions and interactions of various proteins. These technological advancements have greatly simplified the process of discovering and developing novel cancer biomarkers.
Restraint: Sample collection-related technical issues
One of the most important issues for service providers is sample collection, which is followed by access to these samples. These samples must be subjected to strict quality control, and they must be stored in the proper conditions to avoid loss. Furthermore, various samples are required for risk detection, screening, diagnosis, and monitoring processes.
Opportunities: Personalized medicine
Personalized medicine determines the best course of treatment for individual patients. Cancer biomarkers are crucial in certain aspects of personalized medicine. Cancer biomarker testing consumables allow for the identification of these diseases. Cancer biomarker diagnostics are also used as companion diagnostics for a number of experimental therapies. As a result, the field of personalized medicine is expected to provide potential growth opportunities for cancer biomarkers market participants.
Challenges: Challenges associated with cancer biomarker validation
The process of cancer biomarker validation includes evaluating assays or measuring performance characteristics such as sensitivity, specificity, and reproducibility. Validation is essential for establishing cancer biomarkers as trustworthy tools to aid in development, medical care, and biopharma investment decisions.
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Recent Developments
- In November 2020, Agilent Technologies Inc. announced the launch of the Biomarker Pathologist Training Program, a global initiative designed to help pathologists precisely score biomarkers. The programme was initially available in Europe and North America, as well as China and Asia via a digital platform.
Global Cancer Biomarkers Market: Segmentation
- The global Cancer Biomarkers market is segregated based on Biomarkers Type, Cancer Type, Profiling Technologies and application.
Based on Biomarkers Type, the market is segmented into Protein Biomarkers, Genetic Biomarkers and Other Cancer Biomarkers. Protein biomarkers accounted for the largest share of the cancer biomarker market, owing primarily to technological advancements. In the development of cancer biomarkers and the expansion of cancer biomarker research and development.
Based on application, the market is segmented into Diagnostics, Research & Development, Prognostics, Risk Assessment and Other Applications. The diagnostics segment held the lion's share of the cancer biomarkers market. The increasing use of cancer biomarkers in drug discovery and development, as well as increased cancer biomarker R&D, are driving the growth of this segment.
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List of Key Players of Cancer Biomarkers Market:
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Thermo Fisher Scientific Inc. (US)
- QIAGEN N.V. (Netherlands)
- Illumina Inc. (US)
- Bio-Rad Laboratories Inc. (US)
- Abbott Laboratories (US)
- bioMérieux SA (US)
- Becton
- Dickinson and Company (US)
- Merck Millipore (US)
- Agilent Technologies (US)
- Myriad Genetics Inc. (US)
- Sysmex Corporation (Japan)
- Hologic Inc. (US)
- Quest Diagnostics (US)
- Centogene N.V. (Germany)
- PerkinElmer Inc.(US)
- Siemens Healthineers (Germany)
- Exact Sciences (US)
- R&D Systems Inc. (US)
- BioVision Inc. (US)
- Olink (Sweden)
- Asuragen Inc. (US)
- Meso Scale Diagnostics LLC (US)
- Invivoscribe Inc. (US)
- Seegene Technologies Inc. (South Korea).
Key questions answered in this report:
- What are the growth rate forecast and market size for Cancer Biomarkers Market?
- What are the key driving factors propelling the Cancer Biomarkers Market forward?
- What are the most important companies in the Cancer Biomarkers Market Industry?
- What segments does the Cancer Biomarkers Market cover?
- How can I receive a free copy of the Cancer Biomarkers Market sample report and company profiles?
Report Scope:
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Regional Dominance:
- North America dominates the cancer biomarkers market
North America dominates the cancer biomarkers market due to its strong base of healthcare facilities, rising investment from key players in the development of advanced devices, increasing number of processes pertaining to drug development, detection of specific tumors, monitoring biological response to cancer therapy, and rising number of research activities.
Asia-Pacific is expected to grow significantly between 2022 and 2028, owing to an increase in government initiatives to raise awareness, an increase in medical tourism, increased research activities in the region, rising cancer prevalence, and a growing demand for quality healthcare in the region.
Global Cancer Biomarkers Market is segmented as follows:
Cancer Biomarkers Market: By Biomarkers Type Outlook (2022-2028)
- Protein Biomarkers
- Genetic Biomarkers
- Other Cancer Biomarkers
Cancer Biomarkers Market: By Cancer Type Outlook (2022-2028)
- Breast Cancer
- Lung Cancer
- Colorectal Cancer
- Prostate Cancer
- Melanoma
- Leukemia
- Thyroid Cancer
- Bladder Cancer
- Non-Hodgkin's Lymphoma
- Kidney Cancer
- Other Cancer Types
Cancer Biomarkers Market: By Profiling Technologies Outlook (2022-2028)
- Omics Technologies
- Imaging Technologies
- Immunoassay
- Bioinformatics
- Cytogenetics
Cancer Biomarkers Market: By Application Outlook (2022-2028)
- Diagnostics
- Research & Development
- Prognostics
- Risk Assessment
- Other Applications
Cancer Biomarkers Market: By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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