10th October 2019 – Global Cancer
Biomarker Market is anticipated to reach USD 33.7 billion by 2025.
Biomarkers imply the molecules or substances found in tissues, blood, or the
other body fluid; which states the abnormal and normal condition of the body.
The cancer biomarkers tests are conducted to detect mutated or normal genes
responsible for cancer.
The factors that propel the growth of
the cancer biomarker industry include advancements in omics technologies,
prevalence of cancer, growth in R&D funding from private bodies and
government, rising healthcare spending, and increasing demand for personalized
medicine in cancer treatments. On the other hand, there are factors that may
hamper the growth of the market including reimbursement issues, need for
immediate processing, and high cost of diagnosis. Cancer Biomarker Market is
anticipated to grow at a significant CAGR of 14.3% in the upcoming period as
the scope, product types, and its applications are increasing across the globe.
Cancer biomarker industry may be
explored by type, application, biomolecule type, and geography. The market may
be explored by type as Lung cancer, Prostate cancer, Breast cancer, Colorectal
cancer, Liver cancer, Cervical cancer, Others. The “Breast Cancer” segment led
the market in 2016 and is anticipated to maintain its dominance by 2025 owing
to growing consciousness about initial testing and rising base of target
populace.
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The key applications that could be
explored in the Cancer Biomarker Market include Personalized medicine,
Diagnostics, Drug Discovery and Development, and Others. The “Diagnostics” segment
led the market in 2016 and is anticipated to maintain its dominance by 2025 due
to growing development of biomarker-based oncology tests with high sensitivity
and specificity. The cancer biomarker industry could be explored based on
Biomolecules type as Epigenetic Biomarkers, Proteomic Biomarkers, Genetic
Biomarkers, Metabolic Biomarkers, and Others. The “Genetic biomarkers” segment
led the market in 2016 and is anticipated to maintain its dominance by 2025 due
to high-reliability rate, and extensive usage.
North America accounted for the major
share of the cancer biomarker market size in 2016 and will continue to lead in
the forecast period. The factors that could be ascribed to the growth include
increasing demand for personalized medicine, growing government funding for
development and discovery of biomarkers, growing use of biomarkers in Drug
Discovery and growth by pharmaceutical industries in that country, and
acceptance of innovative omics technologies for biomarker discovery.
Some of the key players that fuel the
growth of the cancer biomarker industry comprise F-Hoffmann-La Roche Ltd.;
Abbott Laboratories; Thermo Fisher Scientific Inc.; QIAGEN; Affymetrix Inc.;
Agilent Technologies; Illumina, Inc.; Merck & Co. Inc.; Sino Biological
Inc.; Hologic, Inc.; Dickinson and Company, and Becton. The leading companies
are taking up partnerships, mergers and acquisitions, and joint ventures in
order to boost the inorganic growth of the industry.
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