Cancer Biomarkers Market Size Worth USD 51.14 Billion Globally with Excellent CAGR of 13.11% by 2029, Share, Trends, Demand, and Revenue Growth Outlook

Seoul, Jan. 26, 2023 (GLOBE NEWSWIRE) -- Cancer Biomarkers Market study by "Data Bridge Market Research" provides details about the market dynamics affecting this market, Market scope, Market segmentation, and overlays shadow upon the leading market players highlighting the favorable competitive landscape and trends prevailing over the years. Cancer Biomarkers Market research report execution is becoming very vital for businesses to gain success because it offers many benefits including insights into revenue growth and sustainability initiative. This industry report also offers businesses the company profile, product specifications, production value, manufacturer's contact information, and market shares for the company. Moreover, the Cancer Biomarkers Market business report blends together all-inclusive industry analysis with particular estimates and forecasts to provide complete research solutions with the greatest clarity for strategic decision-making.

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.

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Market Overview: -

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 is one of the highest prevailing diseases 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.        

Opportunities

Furthermore, an upsurge in the public-private funding for target research activities, increasing popularity of personalized medicine, increasing awareness regarding malignancies among patients and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period of 2022 to 2029. Additionally, surging number of strategic collaborations, rising internet penetration rate, growing number of hospitals and laboratories, higher acceptance of treatments for cancer in the developing regions and increasing per capita expenditure on health care will further expand the market's growth rate in the future.               

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.  

Some of the major players operating in the Cancer Biomarkers market are:

• Thermo Fisher Scientific Inc. (US)

• F. Hoffmann-La Roche Ltd (Switzerland)

• Agilent Technologies Inc. (US)

• Quest Diagnostics Incorporated. (US)

• GlaxoSmithKline plc. (UK)

• Novartis AG (Switzerland)

• Bristol-Myers Squibb Company (US)

• Eli Lilly and Company (US)

• Astellas Pharma Inc. (Japan) and

• Myriad Genetics Inc. (US) among others.

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Market intelligence platform will help you understand:

• Identify emerging market trends & dynamics

• Market intelligence with quality and accuracy

• Benchmark against competitors & industry

• Explore competitive strategy & market share

• Discover regional market opportunities

• Deliverable formats include PDF, PPT, Excel & Online Dashboard

Data Bridge Market Research employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives

Cancer Biomarkers Market Scope:

Type

Cancer Type

Technology

Applications

• Drug Discovery and Development

End-user

• Academic and Cancer Research Institutes

• Ambulatory Surgical Centres

Critical Insights Related to the Cancer Biomarkers Included in the Report:

1. Exclusive graphics and Illustrative Porter's Five Forces analysis of some of the leading companies in this market
2. Value chain analysis of prominent players in the market
3. Current trends influencing the dynamics of this market across various geographies
4. Recent mergers, acquisitions, collaborations, and partnerships
5. Revenue growth of this industry over the forecast period
6. Marketing strategy study and growth trends
7. Growth-driven factor analysis
8. Emerging recess segments and region-wise market
9. An empirical evaluation of the curve of this market
10. Ancient, Present, and Probable scope of the market from both prospect value and volume

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Cancer Biomarkers Market Dynamics

• The rise in the prevalence of cancer

The 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 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.

Market Regional Analysis/Insights:

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.

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Browse Related Reports:

• Europe Cancer Biomarkers Market, By Product (Consumables, Services, Software, Growth Hormone Therapy), Type (Safety Biomarkers, Efficacy Biomarkers, Validation Biomarkers, Protein Biomarkers, Pharmacodynamics Biomarkers, Genetic Biomarkers), Profiling Technologies (OMICS, Imaging Technology, Immunoassays, Cytogenetics and Bioinformatics), Service (Sample Preparation, Assay Development, Biomarkers and Testing), Application (Diagnostics Development, Drug Discovery and Development, Personalized Medicine, Disease-Risk Assessment, Others), Disease (Prostate Cancer, Breast Cancer, Lung Cancer, Colorectal Cancer, Cervical Cancer, and Other Diseases), Indication (Cancer, Cardiovascular Disorders, Neurological Disorders, Immunological Disorders, Others) – Industry Trends and Forecast to 2030. https://www.databridgemarketresearch.com/reports/europe-cancer-biomarkers-market

• North America Cancer Biomarkers Market, By Type (Genetic Biomarkers, Protein Biomarkers, Other Cancer Biomarkers), Product (PSA, HER-2, EGFR, KRAS, Others), Cancer (Breast Cancer, Lung Cancer, Prostate Cancer, Colorectal Cancer, Blood Cancer, Melanoma, Ovarian Cancer, Liver Cancer, Stomach Cancer, Others), 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 Centers and Diagnostic Laboratories), Country (U.S., Canada, Mexico) Industry Trends and Forecast to 2029. https://www.databridgemarketresearch.com/reports/north-america-cancer-biomarkers-market

• Biomarkers Market, By Type (Safety, Efficacy, Validation), Application (Diagnostics Development, Drug Discovery and Development, Personalized Medicine, Disease-Risk Assessment, Others), Product Type (Consumables, Services, Software), Technology (Safety Biomarkers, Efficacy Biomarkers, Validation Biomarkers), Indication (Cancer, Cardiovascular Disorders, Neurological Disorders, Immunological Disorders, Others) https://www.databridgemarketresearch.com/reports/global-biomarkers-market

• Europe Biomarkers Market, By Type (Safety Biomarkers, Efficacy Biomarkers, Validation Biomarker), Product (Consumables, Services, Software, Growth Hormone Therapy),  Mechanism (Genetic, Epigenetic, Proteomic, Lipidomic, and Other Mechanisms), Application (Diagnostics Development, Drug Discovery and Development, Personalized Medicine, Disease Risk Assessment, Others), Disease Indication (Cancer, Cardiovascular Disorders, Neurological Disorders, Immunological Disorders, Others) https://www.databridgemarketresearch.com/reports/europe-biomarkers-market

• North America Biomarkers Market, By Type (Safety Biomarkers, Efficacy Biomarkers, Validation Biomarker), Product (Consumables, Services, Software, Growth Hormone Therapy),  Mechanism (Genetic, Epigenetic, Proteomic, Lipidomic, and Other Mechanisms), Application (Diagnostics Development, Drug Discovery and Development, Personalized Medicine, Disease Risk Assessment, Others), Disease Indication (Cancer, Cardiovascular Disorders, Neurological Disorders, Immunological Disorders, Others), Country (U.S., Canada, Mexico, Germany) https://www.databridgemarketresearch.com/reports/north-america-biomarkers-market

• Neurological Biomarkers Market, By Product Type (Genomics Biomarker, Proteomics Biomarker, Imaging Biomarker, Metabolomics Biomarker, Others), Indication (Spinal Muscular Atrophy, Parkinson's Disease, Schizophrenia, Huntington's Disease, Alzheimer's Disease, Depression, Multiple Sclerosis), Imaging Techniques (Transcranial Magnetic Stimulation, Diffusion Tensor Imaging, Conventional Structural MRI, Functional Magnetic Resonance Imaging, Positron Emission Tomography), Services (Sample Preparation, Assay Development, Biomarker Validation and Testing), End- User (Clinical Diagnostics, Pharmaceutical And Biotechnology Companies, Research Organizations), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) https://www.databridgemarketresearch.com/reports/global-neurological-biomarkers-market

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