The global Cancer Biomarkers Market is projecting a CAGR of 12.61% during the forecast period, 2020-2026
Published | 17 March 2020
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.
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.
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.
Browse Detailed Table of
Contents, “Cancer Biomarkers Market
Size, By Type (Protein Biomarker, Genetic Biomarker, and Others (cell, viral,
and carbohydrate biomarkers)), By Cancer Type (Breast Cancer, Lung Cancer,
Colorectal Cancer, Prostate Cancer, Thyroid Cancer, Bladder Cancer, Kidney
Cancer, and Others), By Profiling Technology (Omics Technologies, Imaging
Technologies, Bioinformatics, Immunoassays, Cytogenetics, and Others), By
Application (Diagnostics, Drug Discovery & Development, Prognostics, Risk
Assessment, and Others), and By Region (North America, Europe, Asia Pacific,
Middle East & Africa and Latin America); Trend Analysis, Competitive Market
Share & Forecast, 2016-26”
AT
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.
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