Cancer Biomarkers Market

Cancer Biomarkers Market Size (2022 to 2027)

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.

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.

MARKET DRIVERS:

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

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

Additionally, increasing knowledge of 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 for 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 bolstering market growth.

MARKET RESTRAINTS:

However, fluctuations in the prices of the final products limit the market's growth rate. This equipment requires massive installation and maintenance, which is also an attribute hindering the growth rate of the cancer biomarkers market. The lack of professionals following the procedures due to fewer training programs challenges 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 goes simultaneously, the prostate cancer disease segment is leading with dominant market shares. Increasing awareness of 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 holds a prominent market share. In addition, 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 had the highest growth rate in 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 holds a dominant share 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. However, 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 the prevalence of cancer. In addition, 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.