The global cancer biomarkers market was valued at US$ 13.2 Bn in the year 2018 and is expected to reach US$ 35.3 Bn by the year 2026, growing at a CAGR of 13.1%.
Cancer biomarkers are naturally-occurring molecules such as genes or proteins that are measurable indicators for the presence of cancer and they can also detect the stage of cancer. These biomarkers are either secreted by cancer cells or by other cells in response to cancer.
Cancer incidence has been increasing globally. According to the International Agency for Research on Cancer, the incidence of cancer in 2018 was around 18.1 million, which is expected to reach 29.5 million by the year 2040. Cancer biomarkers can help in the diagnosis, prognosis, and the prediction of therapeutic responses.
Get Sample Copy of Report at: https://www.alltheresearch.com/sample-request/115
They help improve cancer detection, and provide high-speed and non-invasive diagnosis. The accurate diagnosis and prognosis can help in proper planning of a treatment regimen. Biomarkers will also help in measuring the response to treatment and decide whether to continue or change the treatment. Cancer biomarkers are, therefore, a pivotal part in providing personalized care to cancer patients.
The approval of new biomarkers and the increasing investment in R&D are expected to drive the cancer biomarkers market. Advancements in OMICS technologies such as proteomics and genomics will drive the cancer biomarkers market further. Advancements in high-throughput genomic technologies such as Polymerase Chain Reaction (PCR) and Next Generation Sequencing (NGS) have facilitated the identification and analysis of various genetic mutations that lead to cancer. This has enabled the identification of various genomic cancer biomarkers.
Despite the numerous advantages that cancer biomarkers provide, the major drawback is the high cost of this technology. The development of cancer biomarkers and the validation of assays is a very complex and expensive process. This cost is eventually added up to the final cost of the biomarker testing assay, which is unaffordable for most patients, especially in developing countries.
Geographically, North America is dominating the cancer biomarkers market. Advancements in cancer biomarkers, high adoption rate of new technologies, and the presence of quality healthcare system are some of the reasons behind the dominance of this region. The Asia-Pacific region is expected to grow at a high CAGR during the forecast period, owing to an increase in cancer biomarkers testing in countries such as China, Japan, and India.
Recent News:
The notable players operating in the cancer biomarkers market are Abbott Laboratories (US), Agilent Technologies (US), Affymetrix Inc. (US), Becton, Dickinson and Company (US), F. Hoffman La Roche (Switzerland), bioMérieux SA (France), Hologic, Inc. (US), Qiagen (Germany), and Merck & Co. (US), amongst others.
Log in / Register