Market Research Report
Cancer Biomarkers Market - Growth, Trends, and Forecast (2020 - 2025)
|Cancer Biomarkers Market - Growth, Trends, and Forecast (2020 - 2025)|
Published: February 1, 2020
Mordor Intelligence Pvt Ltd
Content info: 115 Pages
Delivery time: 2-3 business days
Certain factors that are driving the market growth include the increased incidence of cancer, globally, and higher acceptance of treatments for cancer in the developing regions, the paradigm shift in healthcare, from disease diagnosis to risk assessment or early diagnosis, and increasing usage of biomarkers in drug development.
Prostate Cancer is Expected to Hold Significant Market Share
Prostate cancer is the second-most common form of cancer that affects men, worldwide. As per the American Cancer Society, in 2018, the United States witnessed around 164,690 new cases of prostate cancer, causing over 26,430 deaths. About 60% of the total prostate cancer cases diagnosed are among men aged 65 years or older. In order to tackle such challenges, extensive research in the field of diagnostics has been undertaken. The popular biomarker, Prostate Specific Antigen (PSA), was introduced in the late 1980s, and has guided prostate cancer diagnosis for over 20 years. The next generation of prostate cancer biomarkers has introduced new assays in serum and urine, which are expected to replace PSA. Moreover, with such a high prevalence rate of prostate cancer across the world, the demand for diagnostic devices is sure to rise, in turn, leading to the growth of this segment in the years to come.
North America Dominates the Market and is Expected to do the Same Over the Forecast Period
The United States witnessed a considerable rise in the number of cancer patients. Prostate and breast cancers are the most prevalent forms of cancer in the region. According to the estimates of the American Cancer Society, in the United States, around 220,800 new cases of prostate cancer were diagnosed and about 27,540 deaths occurred due to this cancer, in 2015. Additionally, it is estimated that, currently, there are nearly three million American men suffering from prostate cancer. In 2015, an estimated 246,660 new cases of invasive breast cancer and 60,290 additional cases of in-situ breast cancer were diagnosed among women in the United States. The ease in the US government regulations and availability of funds from various organizations, like the National Institute of Health, have provided the potential for researchers to invest more in the use of biomarkers in drug discovery, drug development, detection of specific tumors, monitoring biological response to cancer therapy, and genetic studies for the identification of predisposed candidates of cancer.
The cancer biomarkers market is highly competitive and consists of a number of major players. Companies, like 23andMe, Abbott Laboratories Inc., Agilent Technologies, Ambry Genetics, Biomerieux, Celera Corporation (Quest Diagnostics), F. Hoffmann-La Roche Ltd, Hologic Inc., Illumina Inc., and Thermo Fisher Scientific, among others, hold substantial shares in the market.