Cancer Biomarkers Market Size, Share, Growth Report 2030

Industry Prospective:

The global Cancer Biomarkers market was worth around USD 12,419.50 million in 2021 and is estimated to grow to about USD 31695.03 million by 2028, with a compound annual growth rate (CAGR) of approximately 16.90 percent over the forecast period. The report analyzes the Cancer Biomarkers market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Cancer Biomarkers market.

Cancer Biomarkers Market: Overview

Cancer biomarkers are biological molecules that are produced by tumor cells or human tissues in response to cancer and are then measured and evaluated as indicators of cancerous processes within the body. Cancer biomarkers are widely used in the detection and management of cancer patients. Biomarkers are used in the follow-up surveillance and early detection of possible recurrent disease in cancer patients who have undergone curative surgery. Furthermore, ongoing advancements in cancer diagnosis include the incorporation of molecular biomarkers into routine diagnostic tests. Various governments are focusing on investing in cancer prevention and early intervention in order to reduce the emotional and physical impact of cancer on patients and their families. Furthermore, national healthcare departments are actively involved in cancer research and treatment development. The rising cancer incidence is expected to spur innovation and development in the field of cancer diagnosis using biomarkers.

The rising prevalence of cancer, particularly lung cancer, around the world is one of the major factors driving market value growth. Rising R&D spending on medical instruments and devices, especially in developed and developing economies, will open up even more lucrative market growth opportunities. Research and development capabilities for drug discovery are also boosting market growth rates. The federal government's increased funding is expected to drive the market's growth rate. Furthermore, the growth and expansion of the healthcare industry, driven by both public and private players, will create lucrative personal health devices market growth opportunities, particularly in developing economies.

COVID-19 Impact:

The market has been significantly and negatively impacted by COVID-19. The funding for R&D activities has been significantly reduced and reduced. Disruptions in the supply chain lowered market demand and supply. During this phase, shifting focus to essential healthcare procedures halted unnecessary operations. There was a significant delay in non-essential medical procedures. During the pandemic, all of this proved to be a curse for the market.

Cancer Biomarkers Market: Growth Drivers

Drivers: Technological advancements on the rise In the creation of cancer biomarkers

Advances in array and proteomics technologies have addressed the difficulties in identifying and comprehending the functions and interactions of various proteins. These technological advancements have greatly simplified the process of discovering and developing novel cancer biomarkers.

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Restraint: Sample collection-related technical issues

One of the most important issues for service providers is sample collection, which is followed by access to these samples. These samples must be subjected to strict quality control, and they must be stored in the proper conditions to avoid loss. Furthermore, various samples are required for risk detection, screening, diagnosis, and monitoring processes.

Opportunities: Personalized medicine

Personalized medicine determines the best course of treatment for individual patients. Cancer biomarkers are crucial in certain aspects of personalized medicine. Cancer biomarker testing consumables allow for the identification of these diseases. Cancer biomarker diagnostics are also used as companion diagnostics for a number of experimental therapies. As a result, the field of personalized medicine is expected to provide potential growth opportunities for cancer biomarkers market participants.

Challenges: Challenges associated with cancer biomarker validation

The process of cancer biomarker validation includes evaluating assays or measuring performance characteristics such as sensitivity, specificity, and reproducibility. Validation is essential for establishing cancer biomarkers as trustworthy tools to aid in development, medical care, and biopharma investment decisions.

Global Cancer Biomarkers Market: Segmentation

The global Cancer Biomarkers market is segregated based on Biomarkers Type, Cancer Type, Profiling Technologies and application.

Based on Biomarkers Type, the market is segmented into Protein Biomarkers, Genetic Biomarkers and Other Cancer Biomarkers. Protein biomarkers accounted for the largest share of the cancer biomarker market, owing primarily to technological advancements. In the development of cancer biomarkers and the expansion of cancer biomarker research and development.

Based on application, the market is segmented into Diagnostics, Research & Development, Prognostics, Risk Assessment and Other Applications. The diagnostics segment held the lion's share of the cancer biomarkers market. The increasing use of cancer biomarkers in drug discovery and development, as well as increased cancer biomarker R&D, are driving the growth of this segment.

Report Scope:

Recent Developments

• In November 2020, Agilent Technologies Inc. announced the launch of the Biomarker Pathologist Training Program, a global initiative designed to help pathologists precisely score biomarkers. The programme was initially available in Europe and North America, as well as China and Asia via a digital platform.

Regional Landscape

North America dominates the cancer biomarkers market due to its strong base of healthcare facilities, rising investment from key players in the development of advanced devices, increasing number of processes pertaining to drug development, detection of specific tumors, monitoring biological response to cancer therapy, and rising number of research activities.

Asia-Pacific is expected to grow significantly between 2022 and 2028, owing to an increase in government initiatives to raise awareness, an increase in medical tourism, increased research activities in the region, rising cancer prevalence, and a growing demand for quality healthcare in the region.

Competitive Landscape

Some of the main competitors dominating the global Cancer Biomarkers market include- F. Hoffmann-La Roche Ltd. (Switzerland), Thermo Fisher Scientific, Inc. (US), QIAGEN N.V. (Netherlands), Illumina, Inc. (US), Bio-Rad Laboratories, Inc. (US), Abbott Laboratories (US), bioMérieux SA (US), Becton, Dickinson and Company (US), Merck Millipore (US), Agilent Technologies (US), Myriad Genetics, Inc. (US), Sysmex Corporation (Japan), Hologic, Inc. (US), Quest Diagnostics (US), Centogene N.V. (Germany), PerkinElmer, Inc.      (US), Siemens Healthineers (Germany), Exact Sciences (US), R&D Systems, Inc. (US), BioVision, Inc. (US), Olink (Sweden), Asuragen, Inc. (US), Meso Scale Diagnostics, LLC (US), Invivoscribe, Inc. (US), Seegene Technologies, Inc. (South Korea).

Global Cancer Biomarkers market is segmented as follows:

By Biomarkers Type

• Protein Biomarkers

• Genetic Biomarkers
• Other Cancer Biomarkers

By Cancer Type

• Breast Cancer
• Lung Cancer
• Colorectal Cancer
• Prostate Cancer
• Melanoma
• Leukemia
• Thyroid Cancer
• Bladder Cancer
• Non-Hodgkin's Lymphoma
• Kidney Cancer
• Other Cancer Types

By Profiling Technologies

• Omics Technologies
• Imaging Technologies
• Immunoassay
• Bioinformatics
• Cytogenetics

By Application

• Diagnostics
• Research & Development
• Prognostics
• Risk Assessment
• Other Applications

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa