The global cancer biomarkers market is set to surpass US$ 29.8 billion by 2026. According to a study produced by ARC, The industry also reflects the CAGR of 11.9% during 2019-2026.
Cancer biomarker is a substance that helps to indicate the presence of cancer in the body. This substance may be a molecule secreted by a tumor or specific response of the body to a tumor. Genetic, proteomic, and glycomic biomarkers used for various applications such as diagnosis, epidemiology, and prognosis.
These are also used in cancer research or drug discovery process field. Biomarkers can be identified in blood, urine, stool, tissue, and other body fluids.
Currently, various biomarkers are using for patient care such as BRCA1/BRCA2 (Breast /Ovarian cancer), EGFR (Non-small cell lung carcinoma), HER-2 (Breast cancer), PSA (Prostate cancer), S100 (Melanoma), and AFP (liver cancer).
Based on the specific recognition of intracellular and cancerous cell surface biomarkers, various technologies have been developed to identify a tumor in the body. These technologies include immunoassays, cytogenetic testing, omics technology, and imaging technologies such as CT, Ultrasound, MRI, PET, and mammography.
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North America dominated the cancer biomarkers market in 2018 due to high ongoing research in the development of cancer biomarkers, mergers & collaborations for the development and commercialization of products, favorable reimbursement for cancer diagnosis & treatment, and awareness about companion diagnostics and personalized medicines.
For instance, in January 2017, Gene News launched a blood-based biomarker test, Breast Sentry, for risk assessment of breast cancer in the U.S. Asia Pacific is anticipated to observe the fastest growth during the forecasts period in the market.
This can be attributed to increasing investment by market players in this region due to the availability of large targeted patient population, supportive government regulations in many countries, and increasing disposable income.
According to the recent cancer data published by the World Health Organization (WHO) in 2018, about half of new cases and more than half of cancer deaths in 2018 are estimated to occur in Asia as the region has about 60% of the global population.
Based on type, the cancer biomarkers market has been segmented into protein biomarker, genetic biomarker, and others. Other segment includes viral, cell, and carbohydrate biomarkers.
Protein biomarkers accounted for the largest segment in the market in 2018 due to its ability for early diagnosis and the presence of several commercial biomarkers.
On the basis of technology used for profiling, the market has been categorized into omics technology, immunoassay, imaging technologies, and cytogenetic testing.
The omics technology segment accounted for the largest share of the market in 2018. This can be attributed to a revolution in the omics technologies since the last decade responsible for the increase in the applications of biomarkers.
Based on the application, the prognostics segment held the maximum share of the market in 2018 and is expected to maintain its dominance during the forecast period.
However, the diagnosis segment is anticipated to witness the fastest growth in coming years.
Based on the cancer type, breast cancer accounted for the largest share of the market due to more awareness about screening, availability of commercialized products, and high sensitivity of markers to detect breast cancer.
Lung cancer, colorectal cancer, prostate cancer, leukemia, thyroid gland cancer, kidney cancer, and bladder cancer are some of the other cancers where biomarkers are used for various applications.
The cancer biomarkers market dominated by Abbott Laboratories, Agilent Technologies, Becton Dickinson and Company, Hologic, Illumina, Merck & Co., Qiagen N.V., Roche Diagnostics, and Thermo Fisher Scientific.
Growing need of cancer biomarkers for the detection and monitoring of cancer is the major reason to invest in the market.
Research and development activities, commercialization of sensitive products, and collaborations for the development & commercialization have been the most adopted strategies by industry players to enhance their share in the market.
Global Cancer Biomarkers Market: Scope of the Market
The report first uses historic data from different companies. The data collected is used to analyses the growth of industries in the past years. It includes data from the year 2015 to the year 2019.
The forecast data provides the reader with an understating of the future of the market. The same data is used to predict the expectation of the companies and how they are expected to evolve in the coming years.
The research provides historical as well as estimated data from the year 2019 to 2026. The details in the report give a brief overview of the market by examining its historical data, the current data, and forecast data to understand the growth of the market.
Global Cancer Biomarkers Market Segment Analysis:
Acumen Research report focuses on market attractiveness by assessing the key market segments. The report also combines region-wise segments for a better understanding of the supply and demand ratio of the global cancer biomarkers market.
This exclusive study of the report analyzes the present and future market scenario and the industry trends that are influencing the growth of the segments. Besides, the report also covers the value chain analysis, supply chain analysis, and year-on-year basis analysis of the global cancer biomarkers market.