Rigorous Research for Better Diagnostic Solutions to Foster Cancer Biomarker Market Rise
Global Cancer Biomarker Market Research Report: By Types (Protein Biomarker, Genetic Biomarker), By Applications (Diagnostic, Prognostic, Therapeutic), By End Users (Pharmaceutical and Biotechnology Companies, Diagnostic Companies) – Forecast till 2027
Market Highlights
Market Research Future (MRFR) analysed the cancer biomarker market 2020 across the assessment period from 2017 to 2023. According to MRFR findings, the cancer biomarker market can surge at 15.8% CAGR across the review period.
Drivers and Constraints
The need for early diagnosis in cancer due to its formidable nature is creating he demand for cancer biomarkers to decide on treatment regime by physicians. This is expected to support expansion of the cancer biomarker market in the review period. Researchers and reputed investors are observed to fund development of advanced diagnostic solutions for cancer, thus application of cancer biomarker in clinical trials is also observed to increase. The continuous search for diagnosis and treatment for different type of cancer can also significantly impact the market. Advancements in oncology studied can add to the market rise. Sedentary lifestyle, and increase in consumption of fast food among others can also support expansion of the cancer biomarker market due to increase in cases of cancer. Issue with cost can impede the cancer biomarkers market in the analysis period.
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Market Segmentation
The segment study for cancer biomarker market is based on end users, types, and applications.
Protein biomarker and genetic biomarker among others are type-based segments of the cancer biomarker market. The high demand for protein biomarkers can boost the cancer biomarker market in the near future.
Diagnostic, prognostic, and therapeutic are application-based segments of the worldwide cancer biomarker market. The diagnostics segment can rise at exponential pace in the years to come. Non- Imaging and imaging are sub-segments of the diagnostic segment. The imaging segment can rise to earn decent revenue for the global cancer biomarker market.
Pharmaceutical, diagnostic tool companies, healthcare IT or big data companies, biotechnology companies, and clinical laboratories among others are end-users based segments of the cancer biomarker market. The biotechnology companies segment can aid to boost annual turnover for the market by 2023.
Regional Analysis
Middle East and Africa, Asia Pacific, Europe, and the Americas are analysed for the regions that are analysed for the global cancer biomarker market.
The Americas cancer biomarker market can rise exponentially due to increase in prevalence of malignancy in the U.S. In addition, the growing focus on developments associated with targeted therapies can favor the regional market rise along the analysis period. In North America, the cancer biomarker market can surge at decent pace across the review period. In Europe, the surge in adoption of new technologies and notable contributions made by reputed pharmaceutical companies can also impel the regional market rise. The well-established R&D infrastructure and the introduction of novel diagnostic solutions can favor market rise. The rise in need for specific and early diagnostics can also support cancer biomarker market surge across the review period. In APAC, easy availability of effective treatment services and surge in primary care expenses can promote cancer biomarker market rise in India. In Middle East and Africa, the market of biomarker can exhibit expansion at steady pace due to penetration of high tech solutions in the growing healthcare sector of the region.
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Key Players
Merck & Co., Inc. (U.S.), Novartis AG (Switzerland), GlaxoSmithKline plc. (U.S.), F. Hoffmann-La Roche AG (Switzerland), Bristol-Myers Squibb (U.S.), Becton Dickinson (U.S.), Abbott Laboratories (U.S.), PerkinElmer, Inc. (U.S.), Eli Lilly and Company (U.S.), Bio-Rad Laboratories (U.S.), QIAGEN N.V (U.S.), Thermo Fisher Scientific Inc. (U.S.), Pfizer Inc. (U.S.), and Illumina Inc. (U.S.) are some reputed companies in the gobal cancer biomarker market that are profiled by MRFR.
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