Global Cancer Biomarkers Market Size & CAGR (2021 to 2026)
As per our report, the global cancer biomarkers market size was valued at USD 15.95 billion for 2021 and is poised to reach USD 27.57 billion by the end of 2026, growing at 11.56 % CAGR during the forecast period.
Impact of COVID-19 on the global cancer biomarkers market:
International medical oncology practices continuing to be severely affected by the COVID-19 epidemic around the globe. Test volumes and biomarker tests are declining dramatically as lockdown regulations and social distance recommendations drive individuals worldwide to stay indoors while minimizing interaction. As a result of health officials’ and professional groups’ recommendations in the previous two months, regular screening, follow-up, and monitoring activities have been severely curbed. Diagnose and Diaceutics’ researchers are now tracking biomarker testing rates for certain cancer kinds. According to an initial review of the US market, from February 2020 to March 2020, newly diagnosed metastatic non-small cell lung cancer patient volumes dropped by a little over 30 %. There are; however, several studies being conducted on the relationship between covid-19 and cancer biomarkers. Using data collection and integration tools and a strong data model developed to gather cancer biomarker data, the collection and harmonization of COVID-19 biomarkers have been swiftly achieved.
Browse details of the report @ https://www.marketdataforecast.com/market-reports/cancer-biomarkers-market
KEY MARKET DRIVERS:
The rising cancer cases and need for diagnosis increase the demand for cancer biomarkers.
CB can be used as a screening/early detection technique for cancer, a diagnostic, a prognostic, or a prediction for the patient’s ultimate result. As a result of increasing preventive medicine, the need for cancer biomarkers has grown. According to the World Health Organization, cancer was the top cause of mortality in the world by 2020, with almost 10 million fatalities. In addition, there were 2.26 million breast cancer cases, 2.21 million lung cases, and 1.41 million prostate cancer cases recorded in 2020. These increasing numbers of cases fuel the demand for biomarkers, which may be utilized for survival prediction, initial therapy selection, early diagnosis, and risk assessment, among other purposes.
Regulatory approvals of cancer biomarkers raise the adoption rate.
Oncology biomarkers are undergoing fast transformations, with new and interesting breakthroughs being made all the time. Many possible cancer biomarkers have been identified and authorized by regulatory agencies due to developments in proteomic technology. Through a large-scale genome-wide screening effort of all major human malignancies for DNA methylation biomarkers in tissue and serum, researchers have found about 200 new markers. These increasing numbers of cases fuel the demand for biomarkers, which may be utilized for survival prediction, initial therapy selection, early diagnosis, and risk assessment, among other purposes. Even though many additional FDA approvals are still in the pipeline, clinical practice frequently uses three FDA-approved predictive biomarkers (programmed cell death ligand-1 (PD-L1), microsatellite instability (MSI), and tumor mutational burden (TMB)) for patient selection.
RESTRAINING FACTORS:
The global cancer biomarkers market is expected to be hampered by unregulated government laws and reimbursement rules. These molecular biomarker-based diagnostic technologies present new regulatory and reimbursement challenges in several OECD nations. Unfortunately, a lack of properly suited regulatory and reimbursement systems might be a barrier to disseminating cancer biomarkers in the clinical environment and disincentivizing biomarker development.
Avail sample market brochure of the report to understand report usefulness, ask a copy @ https://www.marketdataforecast.com/market-reports/cancer-biomarkers-market/request-sample
KEY MARKET INSIGHTS:
- Based on the disease, the prostate cancer disease segment led the market for cancer biomarkers. Growing public awareness of early testing and a larger target audience are the two most important elements in achieving dominance.
- The sample protection service type held the largest market share in the cancer biomarker market based on services.
- Based on Application, risk assessment applications are showing growth due to increasing awareness and early diagnosis.
- Based on type, protein biomarkers held the largest share in the market.
- Based on profiling technologies, omics technologies dominated the cancer biomarker market due to the advancement in technologies.
- The Asia Pacific held the largest share, and it is expected to witness the largest share during the forecast period. This is attributable to an increase in cancer incidence, a favorable climate for clinical trials, and an increase in government financing for medication research initiatives.
- The prominent players in the cancer biomarker market include Thermo Fisher Scientific Inc., Merck & Co., Inc., Agilent Technologies, Sino Biological Inc., Astellas Pharma, Abbott, F. Hoffmann-La Roche AG, Bayer, and others. These players are involved in strategic activities, such as collaborations, new product launches, technological advancements, and acquisitions.
The report can be customized as per requirements; talk to our analyst team @ https://www.marketdataforecast.com/market-reports/cancer-biomarkers-market/customization
RECENT MARKET DEVELOPMENTS:
- In June 2021, Medable has partnered with Aural Analytics, which provides clinical-grade voice collecting and analysis technologies, to examine remote data gathering and digital biomarkers in cancer patients as part of Medable’s Cancer Moonshot program.
- In May 2021, GE Healthcare has purchased France-based in-vivo oncology and neurology biomarker company Zionexa to develop molecular imaging agents for cancer treatment further.
- In April 2021, for patients with metastatic (stage IV) non-small cell lung cancer (NSCLC), Amgen has launched Biomarker AssistTM, a program to help them obtain biomarker tests.
SEGMENTS COVERED IN THIS REPORT:
By Disease:
- Prostate Cancer
- Breast Cancer
- Lung Cancer
- Colorectal Cancer
- Cervical Cancer
- Other Cancers
By Services:
- Sample Preparation
- Assay Development
- Biomarkers Validation
- Testing
By Application:
- Risk Assessment
- Development of Molecular Diagnostics
- Disease Diagnosis
- Drug Discovery & Development
- Drug Formulation
By Type:
- Protein Biomarkers
- Genetic Biomarkers
- Other Biomarkers
By Region:
- North America
- Europe
- Asia-Pacific
- Latin America
- The Middle East and Africa
KEY MARKET LEADERS PROFILED IN THIS REPORT:
- Abbott Laboratories
- Agendia Bv
- Biocurex Inc
- Biomerieux S.A.
- Biomoda Inc.
- Astellas Pharma Us Inc.
- Correlogic Systems Inc.
- Beckman Coulter Inc.
- Becton
- Dickinson And Company
- Clarient Inc.
- Diadexus Inc.
- Ambrilia Biopharma
- Affymetrix Inc.
- Aureon Laboratories Inc.
BROWSE REGIONAL REPORTS:
- North America Cancer Biomarkers Market
- Europe Cancer Biomarkers Market
- APAC Cancer Biomarkers Market
- Latin America Cancer Biomarkers Market
- MEA Cancer Biomarkers Market
About MarketDataForecast:
Market Data Forecast is a firm working in market research, business intelligence, and consulting. We have rich research and consulting experience for various business domains to cater to individual and corporate clients’ needs.
Contact Us:
Market Data Forecast
Phone: +1-888-702-9626
Email: contact@marketdataforecast.com