Cancer Biomarkers Market

Cancer Biomarkers Market Size (2022 to 2027)

As per our report, the global cancer biomarkers market size is estimated to be worth USD 27.57 billion by 2027, which was USD 15.95 billion in 2022 and registering a CAGR of 11.56% during the forecast period. To sustain their market shares. Top players are always focusing on new product developments and improving their existing products to augment their product portfolios to continue their leading positions in the market.

Biomarkers are chemical, physical, or biological parameters that can be used to specify disease states. Oncology biomarkers offer high-speed, non-invasive cancer diagnosis and deem to improve cancer detection and screening. The global cancer biomarkers market is consolidated in nature at the top.

Impact of COVID-19 on the global cancer biomarkers market:

The COVID-19 pandemic has disrupted every sector globally. In the first half of 2020, all the treatment procedures except emergency cases were canceled or postponed. COVID 19 shows severe symptoms for patients suffering from chronic illness. In some cases, it may also lead to death. Due to this factor, patients opt for telehealth services to get treatment by merely sitting at home. As doctors are front-line warriors in the fight against the COVID 19, they prioritize online consultancies. These factors led the market shares to decrease. However, with the relaxations by government across the world, all the activities are slowly resuming in every sector. Maintaining social distancing and wearing a mask are major guidelines to curb the coronavirus until there is a cure. With these guidelines, all the treatment procedures are resumed in the last months of 2020, and this is huge to positively impact the demand of the cancer biomarkers market.

MARKET DRIVERS:

Technological advancements, rising healthcare spending, and the growing need for personalized medicine are primarily driving the global cancer biomarkers market growth.

Increased focus on developing innovative products with the latest technology, coupled with the rising prevalence of minimally invasive or non-invasive surgeries worldwide, is majorly accelerating the global cancer biomarkers market growth. Increasing spending on healthcare, especially in urban areas, is another factor significantly expanding the market.

Additionally, increasing knowledge over the utilization of biomarkers in the biotechnology field and a rise in the number of patients with various cancer diseases support the cancer biomarkers market growth. Cancer biomarkers have an immense role in diagnosing cancer diseases. It is entirely appropriate in screening and detecting cancer cells in various parts of the body, significantly influencing the growth rate of this market. Growing support from the government through investments is ascribed to bolster the market demand to the extent.

MARKET RESTRAINTS:

However, fluctuations in the prices of the final products are limiting the demand of the market. This equipment requires massive amounts for installation and maintenance, which is also an attribute hindering the growth rate of the cancer biomarkers market. Lack of professionals in following the procedures due to fewer training programs is challenging the market developers.

REPORT COVERAGE:

This research report on the global cancer biomarkers market has been segmented based on the disease, services, type, application, profiling technologies, and region.

Cancer Biomarkers Market - By Disease:

• Prostate Cancer
• Breast Cancer
• Lung Cancer
• Colorectal Cancer
• Cervical Cancer
• Other Cancers

Based on disease, although every segment share is going simultaneously, the prostate cancer disease segment is leading with dominant shares of the market. Increasing awareness over the availability of treatment procedures among individuals is promoting the growth of this market.

Cancer Biomarkers Market - By Services:

• Sample Preparation
• Assay Development
• Biomarkers Validation
• Testing

Based on services, the Sample protection service type is holding prominent shares of the market. A rise in the construction activities of healthcare centers globally is ascribed to bolster the market's growth.

Cancer Biomarkers Market - By Application:

• Risk Assessment
• Development of Molecular Diagnostics
• Disease Diagnosis
• Drug Discovery & Development
• Drug Formulation

Based on the application, the Risk assessment application category has the highest growth rate from the past few years with the demand for early diagnosis.

Cancer Biomarkers Market - By Type:

• Protein Biomarkers
• Genetic Biomarkers
• Other Biomarkers

Based on type, the Protein biomarkers type is holding dominant shares of the market. The growing priority for effective diagnosis of diseases to achieve better outcomes is lavishing the cancer biomarkers market's demand.

Cancer Biomarkers Market - By Profiling Technologies:

• Omics Technologies
  • Genomics
  • Proteomics
  • Metabolomics
  • Transcriptomics
  • Pharmacogenomics
• Imaging Technologies
• Immunoassays
• Cytogenetics
• Bioinformatics
• IVD Multivariate Index Assays

Based on profiling technologies, Omics technologies are witnessed in holding the most significant shares of the market. The emergence of advanced technologies and the introduction of new devices that are simple and convenient for users are likely to outshine this market's growth.

Cancer Biomarkers Market - By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa

The Asia-Pacific market is poised to record the highest growth rate in the forecast period. It is due to the supporting government funding for cancer biomarker research, increasing prevalence of cancer. The rising demand for advanced healthcare facilities in developing economies such as India and China, a growing number of clinical trials, and the increasing focus of international players in emerging markets further help market growth in this region.

TOP COMPANIES IN THE CANCER BIOMARKERS MARKET:

Some of the major players operating in this market are Abbott Laboratories, Agendia Bv, Biocurex Inc, Biomerieux S.A., Biomoda Inc, Astellas Pharma Us Inc, Correlogic Systems Inc, Beckman Coulter Inc, Becton, Dickinson And Company, Clarient Inc, Diadexus Inc, Ambrilia Biopharma, Affymetrix Inc and Aureon Laboratories Inc.