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Cancer Biomarkers Market is projecting a CAGR of 12.61% during the forecast period, 2020-2026

According to BlueWeave Consulting, the global Cancer Biomarkers market has reached USD 13.065 Billion in 2019 and estimated to reach USD 29.45 Billion in 2026 and anticipated to grow by … Read More ...

According to BlueWeave Consulting, the global Cancer Biomarkers market has reached USD 13.065 Billion in 2019 and estimated to reach USD 29.45 Billion in 2026 and anticipated to grow by CAGR of 12.61% during the forecast period 2020-2026. The market is growing owing to various factors. The growth of the market is propelled by the surging prevalence of cancer, coupled with the rising awareness about the usage of biomarkers at several stages of cancer.

Lack of physical activities, frequent sun & UV exposure, improper diet, and growing consumption of tobacco are some of the essential factors that have attributed to the escalating prevalence of cancer. Around 22% of cancer deaths are caused due to tobacco consumption and are regarded as the principal risk factor for cancer. Moreover, the rising demand for clinical diagnosis in cancer’s early stages and growing geriatric population base further propels the usage rates of cancer biomarkers. Besides, few internal factors such as hormonal imbalance, genetic mutation, and metabolic mutation contribute towards the surge in cancer cases, which in turn boosts the demand for cancer biomarkers.

Surging utilization of the biomarkers in surrogate endpoints & drug targets developments, increasing interest among researchers & students regarding cancer diagnostic researchers, and increasing need for the biomarkers in cancer research are few crucial success factors for the growth of the global cancer biomarkers market. Most epidemiological studies use biomarkers to examine various stages of human disease. It requires careful handling and storage of sensitive biological samples to obtain a great deal of information from small samples and reduce future research costs by using banked samples.

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Cancer Biomarkers Market: Competitive Landscape  

The major market players in the Global Cancer Biomarkers are Thermo Fisher Scientific, Bio-Rad Laboratories, Roche Diagnostics, Qiagen N.V., Illumina, GE Healthcare, Agilent Technologies, Biomérieux SA, Merck & Co., Abbott Laboratories, Becton, Dickinson and Company, Danaher Corporation, Myriad Genetics, Sysmex Corporation, Hologic, Quest Diagnostics, and other Prominent Players are expanding their presence in the market by implementing various innovations and technologies.

The genetic biomarker segment in Type is expected to grow at a very high CAGR during the forecast horizon

Based on Type, the genetic biomarker segment is forecasted to dominate during the forecast period, owing to the advancement of technologies to detect the mutation. Gene expression profiling (microarray), Next-generation sequencing (NGS), and polymerase chain reaction (PCR) are the essential technologies used for genetic biomarker discovery and diagnosis. Advancements in high-throughput technologies are the major factors driving the cancer biomarkers market.

Technological advancements

There have been significant technological developments over fields such as diagnostic imaging, immunoassays, omics technologies, and bioinformatics. Using advanced bioinformatics tools, developments in omics technology allow faster acquisition of proteomic, genomic, and metabolomics data and its alliance with clinical trial data. Over the past decade, the omics movement has growing biomarker applications in biomedical research. Additionally, developments in high-throughput genomic technologies facilitate the identification and analysis of key gene mutations and polymorphisms, thereby expanding the spectrum of available genomic biomarkers.

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Increased incidence and prevalence of different types of cancer

There is a surge in the cases of cancer among the global population, which has boosted the demand for Cancer Biomarkers. As per the World Health Organization, it is anticipated to increase cancer cases over the next two decades further. Cancer is prevalent largely in lower and middle-income nations since they lack suitable healthcare infrastructure to combat the condition effectively. In addition, the cancer cases were higher in men than in women.

North America is expected to have the lion’s share in the global Cancer Biomarkers market during the anticipated period.

By geography, the global Cancer Biomarkers Market segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is expected to have the lion’s share in the global cancer biomarkers market during the forecast period, owing to the adoption of advanced technologies, increasing the number of research studies for the development of novel biomarkers. The existence of a large number of pharmaceutical firms, rising funding and investments from public and private organizations, and the growing use of biomarkers in patient stratification and drug development method.

Scope of the Reports

  • By Type
    • Protein Biomarker
    • Genetic Biomarker
    • Others (cell, viral, and carbohydrate biomarkers)

    By Cancer Type

    • Breast Cancer
    • Lung Cancer
    • Colorectal Cancer
    • Prostate Cancer
    • Thyroid Cancer
    • Bladder Cancer
    • Kidney Cancer
    • Others

    By Profiling Technology

    • Omics Technologies
    • Imaging Technologies
    • Immunoassays
    • Cytogenetics
    • Bioinformatics
    • Others

      By Application

    • Diagnostics
    • Drug Discovery & Development
    • Prognostics
    • Risk Assessment
    • Others Top of Form

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About BlueWeave Consulting & Research Pvt Ltd. (BWC)

BlueWeave Consulting provides a full scope of business intelligence solution for solving your toughest challenges. BWC is an emerging global expert & pioneer in the market research and provision of exclusive market INTEL. We optimize your decision making by equipping your industry with an accurate & better market research according to your industry demands through our professionally designed qualitative & quantitative research methods. Our trendy & efficient sample collection methods, integrated data solutions as well as methodologies certainly make us a better partner that you can rely on. With collective experience in the varied fields of retail, market research and reporting, we provide the business insight and business practices that would give the required impetus for your company’s growth.

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About the author

Sharan Stone

Sharan Stone

Sharan comes to Market Research Tab with more than 7 years of experience as an editor. Sharan has his fingers firmly placed on the pulse of the business world and he covers retail, construction, and other industries as an editor for Market Research Tab. Email: [email protected]

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