Report Details-
Global Cancer Biomarkers Market, By Type (Genetic Biomarkers, Protein Biomarkers, Other Cancer Biomarkers) Cancer Type (Breast Cancer, Lung Cancer, Prostate Cancer, Colorectal Cancer, Blood Cancer, Melanoma, Ovarian Cancer, Liver Cancer, Stomach Cancer and Other Cancer Types), Technology (Imaging Technologies, Omic Technologies, Cytogenetic-Based Tests and Immunoassays), Applications (Drug Discovery and Development, Personalized Medicine, Diagnostics and Others), End User (Hospitals, Academic and Cancer Research Institutes, Ambulatory Surgical Centres and Diagnostic Laboratories)– Industry Trends and Forecast to 2029.
Market Analysis and Size
Cancer is one of the highest prevailing disease in the world. According to a report by World Health Organization (WHO), cancer is the second most leading cause of deaths globally. In many cases, cancer isn’t diagnosed up until the last stage and it is very difficult for the body to recover from that stage. This led to the introduction of biomarkers in the field of diagnostic technology. Cancer biomarkers are increasingly gaining importance in the developing economies coupled with growing awareness about them in the remote areas.
- Data Bridge Market Research analyses that the cancer biomarkers market is expected to undergo a CAGR of 13.11% during the forecast period. This indicates that the market value, which was USD 11.66 billion in 2021, would rocket up to USD 51.14 billion by 2029. “Lung Cancer” dominates the product segment of the cancer biomarkers market owing to the fact that lung cancer has the highest prevalence rate in the world as compared to other cancer types. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Market Definition
From the name itself, it is clear that cancer biomarkers are the biomolecules that are used for determining cancer in the body. The cancer biomarkers are effective in diagnosing the cancerous cells in a particular area or organ in the body. These biomolecules are analysed by collecting samples of stool, urine, tumour tissue, blood, and other bodily fluids.
Cancer Biomarkers Market Dynamics
Drivers
- The rise in the prevalence of cancer
Surging prevalence of cancer especially lung cancer all around the globe is one of the major factors responsible for fostering growth in the market value. According to a recent data, more than 70% of the deaths occur from cancer in low- and middle-income countries. Factually, 1 in 6 people suffer from some or the other cancer.
- Research and development proficiencies
Rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to the medical instruments and devices will further create lucrative market growth opportunities. Research and development proficiencies being conducted for drug discovery is also bolstering the market growth rate.
- Government investments on healthcare infrastructure
The increase in the funding by the federal government is set to drive the market growth rate. Moreover, growth and expansion of healthcare industry being driven by both public and private players especially in the developing economies will create lucrative personal health devices market growth opportunities.
Additionally, surge in the personal disposable income level, introduction of technologically driven product in hospitals and increasing investment for the development of advanced, governmental support in approving the novel drugs pertaining to the cancer biomarkers, positively affect the market growth rate.
COVID-19 Impact on Cancer Biomarkers Market
COVID-19 has significantly and negatively impacted the market. The funding for research and development activities was significantly reduced and cut down. Supply chain disruptions demoted the market demand and supply. Shifting focus towards the essential healthcare procedures during this phase put a halt on unnecessary operations. There was a huge postponement on the non-essential medical procedures. All of this proved to be a bane for the market during pandemic.
Recent Development
- In March 2021, Roche received approval from US FDA for VENTANA ALK (D5F3) CDx Assay.
- In July 2020, Thermo Fisher Scientific signed a companion diagnostic (CDx) agreement with Vhugai Pharmaceutical Co., Ltd to increase the use of Oncomine Dx Target Test in Japan.
Cancer Biomarkers Market Regional Analysis/Insights
The cancer biomarkers market is analysed and market size insights and trends are provided by country, type, cancer type, technology, applications and end user as referenced above.
The countries covered in the cancer biomarkers market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the cancer biomarkers market because of the strong base of healthcare facilities, rising investment from key players in the growth of the advanced devices, growing number of processes pertaining to drug development, detection of specific tumours, monitoring biological response to cancer therapy and rising number of research activities in this region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increase in government initiatives to promote awareness, rise in medical tourism, growing research activities in the region, rising prevalence of cancer and the growing demand for quality healthcare in the region.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The cancer biomarkers market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for cancer biomarkers market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the cancer biomarkers market. The data is available for historic period 2010-2020.
Access Full Report:- https://www.databridgemarketresearch.com/reports/global-cancer-biomarkers-market
Competitive Landscape and Cancer Biomarkers Market Share Analysis
The cancer biomarkers market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cancer biomarkers market.
Some of the major players operating in the cancer biomarkers market are
Ø Abbott. (US),
Ø DiagnoCure Inc. (Canada),
Ø Thermo Fisher Scientific Inc. (US),
Ø Illumina, Inc. (US),
Ø QIAGEN (Germany),
Ø F. Hoffmann-La Roche Ltd (Switzerland),
Ø Agilent Technologies, Inc. (US),
Ø Quest Diagnostics Incorporated. (US),
Ø Merck KGaA, (Germany),
Ø Hologic, Inc. (US),
Ø BD. (US),
Ø GlaxoSmithKline plc. (UK),
Ø Novartis AG (Switzerland),
Ø Bristol-Myers Squibb Company (US),
Ø Eli Lilly and Company (US),
Ø Pfizer, Inc. (US),
Ø Genomic Health, Inc. (US),
Ø bioMérieux SA (France),
Ø Astellas Pharma Inc. (Japan) and
Ø Myriad Genetics, Inc. (US)
among others.
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Major TOC of the Report
1 INTRODUCTION
2 MARKET SEGMENTATION
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
5 MARKET OVERVIEW
6 IMPACTS OF COVID-19 ON THE GLOBAL CANCER BIOMARKERS MARKET
7 GLOBAL CANCER BIOMARKERS MARKET, BY INDUSTRY TYPE
Get TOC of the Report:- https://www.databridgemarketresearch.com/toc/?dbmr=global-cancer-biomarkers-market
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