The global “Cancer Biomarkers Market Size” is forecast to reach USD 48.20 billion by 2026 on account of the increasing popularity of personalized treatment for cancer worldwide. Biomarkers help to detect cancer at an early stage and facilitate noninvasive diagnosis at high-speed by utilizing different proteomic and genomic markers. As per a recently published report by Fortune Business insights™ titled, “Cancer Biomarkers Market Size, Share & Industry Analysis, By Cancer Type (Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer And Others), By Biomarker Type (PSA, HER-2, EGFR, KRAS, and others), By End User (Pharmaceutical & Biotechnology Companies, Diagnostics & Research Laboratories, Hospitals & Specialty Clinics, and Others), and Regional Forecast, 2019-2026,” the market size was USD 18.94 billion in 2018 and will exhibit a CAGR of 12.4% between 2019 and 2026.
The report covers:
- Global Cancer Biomarkers Market trends, with detailed analysis on consumer trends & manufacturer trends.
- Overview on supply analysis covering trends across raw material suppliers, technology providers and distributors.
- Key areas of investments identifying market opportunities and challenges in forecast timeframe.
- Competitive analysis of the industry players along with the overview on strategic management.
- Comprehensive company profiles of the major industry players.
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Rise in Prevalence of Cancer Worldwide to Augment Growth
The increasing prevalence of cancer is a prime factor boosting the cancer biomarkers market growth. In addition to this, the market is also witnessing a significant rise on account of the growing demand for drug discovery and development for various cancer types. Additionally, many pharmaceutical companies are investing massive amounts into research and development of novel biomarkers for cancer therapeutics. Moreover, many clinical trials and pipeline studies are currently heading towards the end stages of development, and their market entry is likely to attract high cancer biomarkers market revenue in the coming years.
On the flip side, the market may face challenges in terms of reimbursement policies supported by the governments. This is further attributed to the high cost of treatment for cancer, especially in developing nations. Nevertheless, government support in spreading awareness about cancer, and the availability of treatment options for the same are likely to create lucrative growth opportunities for the market in the forthcoming years.
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Leading Players operating in the Cancer Biomarkers Market are:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Myriad RBM
- Hoffmann-La Roche Ltd.
- BioVision Inc.
- Thermo Fisher Scientific
- R&D System
- Bio-Rad Laboratories, Inc.
- Sino Biological Inc.
- CENTOGENE N.V.
- Sino Biological Inc.
- Axon Medchem
North America to Emerge Dominant Owing to Higher Adoption of Next-Generation Sequencing
From a geographical perspective, the global cancer biomarker market is widespread into the regions of North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Each of these regions is further categorized into nations. Among these, North America earned USD 6.88 billion in 2018 and emerged dominant owing to the high adoption personalized medicine. Europe ranks second in the market with a rising number of research studies for using biomarkers in development and discovery.
Furthermore, the market in the Asia Pacific is expected to contribute significant oncology biomarker market share on account of rising in investments for research and development of biomarkers. This, coupled with increasing support from government and private bodies for the drug development process and patient stratification.
Detailed Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence/ Incidence, by Cancer Type, by Key Regional/ Countries
- New Product Launches, by Key Market Players
- Pipeline Analysis, Cancer Biomarkers
- Key industry Developments – Mergers, Acquisitions and Partnerships
- Global Cancer Biomarkers Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Cancer Type
- Lung Cancer
- Breast Cancer
- Colorectal Cancer
- Prostate Cancer
- Market Analysis, Insights and Forecast – By Biomarker Type
- Market Analysis, Insights and Forecast – By End User
- Pharmaceutical & Biotechnology Companies
- Diagnostics & Research Laboratories
- Hospitals & Specialty Clinics
- Market Analysis, Insights and Forecast – By Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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- Extensive product offerings
- Customer research services
- Robust research methodology
- Comprehensive reports
- Latest technological developments
- Value chain analysis
- Potential Cancer Biomarkers Market opportunities
- Growth dynamics
- Quality assurance
- Post-sales support
- Regular report updates
Reasons to Purchase this Report:
- Comprehensive analysis of the Cancer Biomarkers Market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
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