The global cancer biomarkers market reached a value of US$ 21.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 47.66 Billion by 2027, exhibiting a CAGR of 13.20% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Cancer biomarkers are biological molecules that indicate the presence of cancerous cells in the blood, tissues or other fluids of the body. They can be produced by the cancer cell itself or by other tissues in the body in response to cancer. Some common forms of cancer include breast, prostate, cervical, lung, and colorectal cancer. They are widely used for diagnosing the disease, monitoring their progression, distinguishing between invasive and non-invasive tumors, predicting the chances of recurrences and recording therapeutic treatment efficacy. Enzymes, proteins, nucleic acids, genes, specific cells. and peptides are some of the common types of biomarkers. As a result, they are widely used as prognostics, surrogate endpoints, diagnostics, and personalized medicines.
Cancer Biomarkers Market Trends:
- The increasing prevalence of cancer across the globe is creating a positive outlook for the market. Biomarkers are widely used for early cancer detection and during treatment and management to accurately and reliably predict outcomes. In line with this, the increasing incidences of lung cancer due to the upsurge in pollution levels, smoking trends and poor ingestion habits is augmenting the market growth. Moreover, various technological advancements in genetic biomarker discovery, such as next-generation sequencing (NGS), polymerase chain reaction (PCR), gene expression profiling (microarray), and the artificial inelegance (AI) that assist in predicting the recurrence of cancer after treatment, are providing an impetus to the market growth. Additionally, the increasing awareness amongst healthcare professionals and patients about the importance of early diagnosis and the significant shift toward personalized medicine for cancer treatment due to the lack of standard diagnosis is favoring the market growth. Other factors, including the significant growth in the healthcare industry, extensive research and development (R&D) activities and the implementation of various government initiatives for enhancing the drug development processes, are anticipated to drive the market toward growth.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the global cancer biomarkers market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on profiling technology, biomolecule, cancer type, application and end user.
Breakup by Profiling Technology:
- Omic Technologies
- Imaging Technologies
Breakup by Biomolecule:
- Genetic Biomarkers
- Protein Biomarkers
Breakup by Cancer Type:
- Breast Cancer
- Lung Cancer
- Colorectal Cancer
- Prostate Cancer
- Stomach Cancer
Breakup by Application:
- Risk Assessment
- Drug Discovery and Development
Breakup by End User:
- Academic and Research Institutions
- Ambulatory Surgical Centers
- Diagnostic Laboratories
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
- The competitive landscape of the industry has also been examined along with the profiles of the key players being Abbott Laboratories, Agilent Technologies Inc., Becton Dickinson and Company, bioMerieux SA, Danaher Corporation, F. Hoffmann-La Roche AG, General Electric Company, Illumina Inc., Qiagen N.V., Sino Biological Inc. and Thermo Fisher Scientific Inc.
Key Questions Answered in This Report:
- How has the global cancer biomarkers market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global cancer biomarkers market?
- What are the key regional markets?
- What is the breakup of the market based on the profiling technology?
- What is the breakup of the market based on the biomolecule?
- What is the breakup of the market based on the cancer type?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the end user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global cancer biomarkers market and who are the key players?
- What is the degree of competition in the industry?