PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1224480
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1224480
Cancer Biomarker Market size was valued at USD 13,000.9 Million in 2022, expanding at a CAGR of 15.9% from 2023 to 2030.
A biological molecule found in the blood, tissues, or other physiological fluids that may be used to identify a disease or condition as well as normal or abnormal activity is known as a cancer biomarker. Cancer biomarkers are employed to identify changes in the tumor.
Cancer Biomarker Market- Market Dynamics
The market for cancer biomarkers is expanding due to the increasing prevalence of cancer. The cancer incidence rate, which is expressed as cancers per 100,000 individuals at risk, is the number of new cases of a certain location or type that occur in a given population over a given year. Cancer biomarkers are being widely used as a result of the rising frequency of the illness because they may be used to estimate disease risk, look for concealed primary tumors, distinguish benign from malignant symptoms, or distinguish one kind of malignancy from another. For instance, 1.8 million new instances of cancer were discovered in 2020, according to the American Cancer Society's report from 2021.
In addition, a crucial trend that is becoming increasingly popular in the cancer biomarker market is technological improvement. To maintain their position in the cancer biomarker industry, major market companies are creating cutting-edge technologies including artificial intelligence (AI), deep learning (DL), and machine learning (ML). These methods are being utilized to address issues related to the search for cancer biomarkers since processing huge amounts of molecular and imaging data is beyond the scope of traditional statistical tools and research. For instance, F. Hoffmann-La Roche AG, a Swiss pharmaceuticals and diagnostics company, launched uPath Ki-67 (30-9), uPath ER (SP1), and uPath PR (1E2), three new automated digital pathology algorithms that will be utilized as a biomarker for image analysis for breast cancer, in December 2021. This image analysis for breast cancer employs pathologist-trained deep learning algorithms to accelerate the detection of positive Ki-67, ER, and PR tumor cell nuclei.
Cancer Biomarker Market- Segmentation Analysis:
Based on the type, The market is divided into breast, prostate, colorectal, cervical, liver, and lung cancers. In 2022, breast cancer was the leading sector. Breast, lung, and prostate cancer will account for more than 45% of total revenue in 2022. The primary aspects leading to domination are increasing awareness of early testing and a bigger target demographic base. Lung cancer, on the other hand, is predicted to rise the quickest throughout the projection period. A growing number of diagnostic tests targeting EGFR and BRAF mutations, which function as an important biomarker for non-small cell lung cancer detection, are expected to drive category growth.
The market is further divided into genetic, epigenetic, metabolic, and proteomic biomarkers based on the biomolecule. Genetic biomarkers commanded a substantial market share due to their widespread use, high dependability rate, and ease of analysis. Over 85% of cancers have been shown to be identified using genetic and proteomic indicators. Besides, Epigenetics has received widespread recognition in the realm of cancer diagnoses. Many players are conducting extensive research to analyze major epigenetic modifications connected to cancer in order to further create biomarkers targeting medications. Increased collaboration between and pharmaceutical firms for the development of innovative medications targeting epigenetic biomarkers is expected to drive the growth of this segment.
Cancer Biomarker Market- Geographical Insights
North America led the regional segment, closely followed by Europe. The existence of prominent pharmaceutical corporations, developed R&D infrastructure relevant to the creation of novel diagnostic products, and rising demand for particular & early diagnoses are the primary reasons contributing to the aforementioned dominance. Besides, the Asia Pacific region is expected to see a profitable CAGR throughout the projection period due to rising cancer prevalence, a favorable environment for clinical trials, and increased government financing for drug development initiatives. Furthermore, the expanding emphasis of pharmaceutical firms on this region, along with rising knowledge of biomarker-based diagnostics, is one of the key growth factors.
Key features of the study:
This proposed research study on the Cancer Biomarker market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains an attractive investment proposition matrix for ` the Cancer Biomarker market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain the Cancer Biomarker market
The impact of COVID-19 on the Cancer Biomarker market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight into the Cancer Biomarker market post-COVID will also be covered.
To give the users of this report a comprehensive view of the Cancer Biomarker market, we have also included a competitive landscape and key innovator analysis for the Cancer Biomarker market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand the financial information and strategic initiatives of players operating in the Cancer Biomarker market.
In addition, the report also unveils the important acquisitions & mergers, collaborations & joint ventures, new launches, research & development, and regional expansion of major participants involved in the market on global as well as regional levels.
The global Cancer Biomarker market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL CANCER BIOMARKER MARKET KEY PLAYERS
Eli Lilly and Company
Bristol-Myers Squibb Company
F. Hoffmann-La Roche Ltd
Agilent Technologies, Inc.
Quest Diagnostics Incorporated.
Thermo Fisher Scientific Inc.
GLOBAL CANCER BIOMARKER MARKET, BY TYPE
GLOBAL CANCER BIOMARKER MARKET, BY BIOMOLECULE
GLOBAL CANCER BIOMARKER MARKET, BY APPLICATION
Drug discovery and Development
GLOBAL CANCER BIOMARKER MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of LATAM
The Middle East and Africa
United Arab Emirates
Rest of MEA