Cancer Biomarker Market Size, Growth and Share Analysis By Applications Prognostic, (Diagnostic, Therapeutic), Types (Protein Biomarker, Genetic Biomarker), End Users (Pharmaceutical and Biotechnology Companies, Diagnostic Companies) – Forecast to 2023
Cancer Biomarkers Market Overview:
The Global Cancer Biomarkers Market size is showing possibilities of registering growth by 15.8% CAGR by 2023. Market Research Future (MRFR) announced that several factors like rising prevalence of cancer, a surge in demand for early diagnosis, better treatment, hike in investment for research and development to assist the pharmaceutical sector in developing drugs, government initiatives to boost research, growing participation from emerging countries, and others are expected to boost the global cancer biomarkers market growth.
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FDA is also playing a crucial role in providing clearance to various products. However, the low success rate and high investment can deter the cancer biomarkers market growth in the coming years.
Cancer Biomarkers Market Segmentation:
The global cancer biomarker market, as read by MRFR analysts, has been segmented on the basis of applications, types, and end users. These segments have facts and figures that help in a proper assessment of the global cancer biomarkers market outcome. The in-depth assessment would also reveal growth pockets that can be used to impact the cancer biomarker market.
By type, the global study of the cancer biomarkers market has been segmented into genetic biomarkers, protein biomarkers, and others. The genetic biomarker segment is getting good traction due to the rising demand set by personalized drugs.
By application, the cancer biomarkers market can be segmented into diagnostic, prognostic, and therapeutic. The diagnostic segment is getting traction as people are becoming aware of the disease and the chances of getting treatment at an early stage. The diagnostic segment includes imaging and non- Imaging.
By end users, the cancer biomarker market has been segmented into diagnostic tool companies, healthcare it/big data companies, pharmaceutical and biotechnology companies, and clinical laboratories. The pharmaceutical and biotechnology segment is expecting strong growth due to the rising demand for better drugs.
Cancer Biomarkers Market Regional Landscape:
The Americas has the lead in the global cancer biomarker market as North America is covering significant grounds to boost the market. The US and Canada, owing to their investment capacity and infrastructural benefits, would contribute the most. In Europe, the growth would follow the American pattern.
Cancer Biomarkers Market Competitive Landscape:
The global cancer biomarker market is all set to proceed further by getting boosted by companies like Abbott Laboratories (U.S.), PerkinElmer, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), F. Hoffmann-La Roche AG (Switzerland), Becton Dickinson (U.S.), Bio-Rad Laboratories (U.S.), Eli Lilly and Company (U.S.), Merck & Co., Inc. (U.S.), Bristol-Myers Squibb (U.S.), GlaxoSmithKline plc. (U.S.), QIAGEN N.V (U.S.), Pfizer Inc. (U.S.), Novartis AG (Switzerland), and Illumina Inc. (U.S.).
Their strategic moves are directed towards maintaining a portfolio that can lure in more clients. This intent includes moves like mergers, acquisitions, and collaborations. Branding, innovations, and launching strategies are helping players in establishing a position in the market. These companies are also increasing their investment funding to ensure better products that can give them an edge over their peers. MRFR registered these recent moves to facilitate strategy-development procedures.
Cancer Biomarker Industry News:
A recent study published by researchers from the medical department at The Chinese University of Hong Kong (CU Medicine) revealed a novel genetic biomarker that can predict the survival of head and neck cancer patients. Every year, around 0.7 million new head and neck squamous cell carcinoma (HNSCC) cases get registered across the world. The researchers have identified that mitogen-activated protein kinase (MAPK) pathway mutations that are found in around 20% of HNSCC patients. It can predict favorable clinical outcomes if the physicians follow a standard therapy. This boosts the survival rate of the patients by doubling it than other patients.
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