The North American Cancer Biomarkers Market size was worth USD 4.85 billion in 2023 and is estimated to be growing at a CAGR of 10.9% to reach USD 8.13 billion by 2028 during the forecast period.
The significant factors that are fuelling the growth of cancer biomarker are the occurrence of cancer due to increasing rate in consumption of tobacco, unhealthy food habits, frequent exposure to UV and sunlight metabolic mutation, genetic mutation and hormonal imbalance, and rise in demand for early diagnosis and rise in the geriatric population.
Growing adoption of biomarkers in drug target developments and surrogate endpoints, increasing focus on research and progress due to advancements of technology, data augmentation, and growing investments also contribute to the growth of the North American cancer biomarkers market.
The factors limiting the cancer biomarkers market's growth are reimbursements and regulations, biomarker techniques are high expensive, reluctance in adopting new technologies, and low detection rate.
Companion diagnostics and personalized medicines are the specialized fields expanding growth opportunities for the cancer biomarkers market. In addition to this, increasing occurrence of breast and prostate cancers, growing investments owing to ease of government regulations and technological advancements, adoption of biomarkers for detecting tumors, drug development and discovery, in cancer therapies for tracking responses are expected to provide lucrative opportunities for the growth of North America Cancer Biomarkers market.
This research report on the North America Cancer Biomarkers Market segmented and sub-segmented into the following categories:
Regionally, North America accounted for the largest share in the Global Cancer Biomarkers Market.
The U.S. Cancer Biomarkers Market is anticipated to hold the largest share in the North American market as a result of the increasing necessity for investment in research and development, embellishing the constant rate of cancer, augmenting the government assistance for the discovery and advancing of biomarkers and acquiring advanced technologies for biomarkers. One million seven hundred thirty-five thousand three hundred fifty new cancer cases were diagnosed, and 609,640 deaths occurred due to cancer in this country, according to the American Cancer Society in 2018. According to the American Cancer Society's analysis report, nearly 234,030 new lung cancer cases were recorded, and about 154,050deaths occurred due to lung cancer.
The Canadian cancer biomarkers market is next to the U.S., leading the majority share in the North American market. It is expected to grow with a CAGR of 11.4% during the forecast period. Canada has a population of 36 million in 2018, which records for 0.48% of the world's total population. The elder people population anticipates the Canadian market, a large patient pool diagnosed with cancer. Lung cancer is the leading segment that causes more death in Canada. Around 21% of new cancer cases in men are diagnosed with prostate cancer, 58 men will be diagnosed with prostate cancer every day, whereas 11men will be reduced from prostate cancer every day. Out of 2, 1 will have cancer, and out of 4, 1will die due to cancer, which is reported according to the Canadian Cancer Reports.
Leading companies operating in the North American Cancer Biomarkers Market profiled in this report 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.
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