High prevalence and growth of cancer cases, increasing demand for advanced therapeutics & precision medicines, rising investment in novel drug discovery, evolving regulatory framework, and rising demand for early detection techniques are the prime attributes driving the growth of the global cancer biomarker market. The number of cancer patients has increased significantly in last decade and is anticipated to witness growth in coming years.
According to the World Health Organization and the International Agency for Research on Cancer, in 2018, approximately 18 million new cancer cases were detected with a death toll of 9.6 million. This has fueled the research and development focused on production of reliable biomarkers for early prognosis and diagnosis of cancer.
The advancement in cancer research has yielded efficient clinical screening methods for early detection and removal of malignant cells through minimal invasive surgeries. However, taken the individual variability and cancer treatment strategy into account, the cancer biomarkers market is expected to witness increased investment in coming years. The global cancer biomarker market is expected to grow significantly during the forecast period.
North America contributed the largest share to the global cancer biomarker market in 2019 and is anticipated to be a dominating geography during the forecast period. Increasing investment in cancer research, prevalence of cancer, presence of leading biotechnology and pharmaceutical companies, and focused research and development on reliable biomarkers are the key elements contributing towards the growth of North America cancer biomarker market.
Asia Pacific is anticipated to be the most lucrative market in coming years owing to increasing adoption of advanced healthcare technologies, growth of cancer patients, and increasing investment in biotechnology and pharmaceutical industry.
The report titled “Cancer Biomarker Market - Global Market Share, Trends, Analysis and Forecasts, 2023-2032”, wherein 2021 is historic period, 2022 is the base year, and 2023 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global cancer biomarker market.
Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market. For instance, Abbott Laboratories reported revenues of USD 31.9 billion in 2019 and the product segment analysis of the company indicates that Medical Devices business segment of the company dominated revenue in 2019.
The global cancer biomarker market is segmented based on cancer type, product type, application, and geography. Based on cancer type, the global cancer biomarker market is segmented into breast cancer, prostate cancer, colorectal cancer, cervical cancer, liver cancer, lung cancer, and others. Based on product type, the global cancer biomarker market is segmented into genetic biomarkers, epigenetic biomarkers, metabolic biomarkers, proteomic biomarkers, others. Based on applications, the global cancer biomarker market is segmented into drug discovery & development, diagnostics, personalized medicine, and others. Based on geography, the global cancer biomarker market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment, and would identify the segment of the company focusing on cancer biomarkers. Further, market share of prominent companies in the global cancer biomarker market would also be estimated.
For instance, Abbott Laboratories operates through three business segments namely Nutritionals, Diagnostics, and Medical Devices. The cancer biomarkers are delivered under Diagnostics business segment of the company with revenue contribution of US$ 7,713 million in 2019.
The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the cancer biomarker manufacturers. The global cancer biomarker market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution.
Product portfolio would focus on all the products under the cancer biomarker business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global cancer biomarker market.
Major players active in the global cancer biomarker market include Abbott Laboratories, Affymetrix Inc., Agilent Technologies, Becton, Dickinson and Company, F.Hoffmann-La Roche Ltd., Hologic, Inc., Illumina, Inc., Merck & Co. Inc., QIAGEN, Sino Biological Inc., and Thermo Fisher Scientific.
Market Segmentation:
By Cancer type
- breast cancer
- prostate cancer
- colorectal cancer
- cervical cancer
- liver cancer
- lung cancer
- others
By Product type
- genetic biomarkers
- epigenetic biomarkers
- metabolic biomarkers
- proteomic biomarkers
- others
By Application
- drug discovery & development
- diagnostics
- personalized medicine
- others
By Geography
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
