New York, October 07, 2021 – Reports and Data has published its latest report titled “Cancer Biomarkers Market, By Type (Genetic Biomarkers, Epigenetic Biomarkers, Proteomic Biomarkers, Glycoprotein Biomarkers), Cancer Type (Breast Cancer, Blood Cancer, Lung Cancer, Cervical Cancer, Colorectal Cancer, Others), By Profiling Technology (Imaging technologies, Ultrasound, CT, MRI, PET, Proteomics, Genomics, Others), By Application (Risk Assessment, Personalized Medicine, Prognostics, Diagnostics, Others), And Region – Global Forecast To 2028”
Rising prevalence of cancer worldwide and technological advancements in cancer diagnostic solutions are major factors driving market growth
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According to Reports and Data, the global cancer biomarkers market size was USD 16.43 billion in 2020 and is expected to reach USD 41.04 billion 2028 and register a revenue CAGR of 12.2% during the forecast period, 2021-2028.
Drivers, Restraints, and Opportunities:
Cancer biomarkers are biological molecules present in tissue and body fluids such as blood and are indicative of cancer. Cancer biomarkers improve cancer diagnosis and facilitate non-invasive diagnosis using technologies such as genomics and proteomics. Rising burden of cancer worldwide, growing awareness of significance of cancer biomarkers in cancer diagnosis, disease monitoring, and treatment, increasing research & development activities in the biotechnology sector, and introduction of novel cancer drugs & therapeutics are among the key factors driving growth of the global cancer biomarkers market. Expanding biotechnology industry, rapid progress in biomarker research, technological breakthroughs in bioinformatics tools, and emergence of new genomic and proteomic technologies such as tissue microarrays, two-dimensional gel electrophoresis, and protein assays are other major factors contributing to the global market revenue growth.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Genetic Biomarkers Type Segment to Account for Largest Revenue Share:
Among type segments, the genetic biomarkers segment is expected to register the fastest growth in revenue over the forecast period. Increasing use of advanced, high-throughput technologies including gene expression profiling (microarray), next-generation sequencing (NGS), and polymerase chain reaction (PCR) in mutation detection and genetic biomarker discovery is one of the key factors boosting growth of this segment.
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Lung Cancer Segment Dominated Other Cancer Type Segments in 2020:
Among the cancer type segments, the lung cancer segment accounted for the largest revenue share in 2020, owing to factors such as rising prevalence of lung cancer, increasing research activities to develop advanced lung cancer biomarkers, and development of high-throughput biomarker discovery techniques.
North America Accounted for a Significantly Large Revenue Share in 2020:
Among regional markets, North America accounted for the largest revenue share in the global cancer biomarkers market in 2020. Increasing research and development activities in the biotechnology industry, new product launches, growing prevalence of breast cancer, blood cancer, colorectal cancer, lung cancer, and other cancer types, and presence of state-of-the-art healthcare infrastructure are major factors bolstering the North America market growth.
Asia Pacific to Lead in Terms of Revenue CAGR:
The Asia Pacific cancer biomarkers market is projected to register the fastest revenue CAGR over the forecast period. Rapid development of healthcare infrastructure across the region, rise in R&D activities in the biopharmaceutical and biotechnology sectors, and rising healthcare expenditure, especially in developing countries including India and China, are key drivers for the Asia Pacific market revenue growth.
Major Companies in the Market Include:
- Abbott Laboratories
- Agilent Technologies
- Astellas Pharma Inc.
- Ambry Genetics
- Bristol-Myers Squibb
- Celera Corporation (Quest Diagnostics)
- DiagnoCure Inc.
- Eli Lilly and Company
- Epigenomics AG
- Hoffmann-La Roche Ltd.
- Genomic Health, Inc.
- Hologic Inc.
- Illumina Inc.
- Merck & Co Inc.
- Myriad Genetics
- Novartis AG
- Pfizer, Inc.
- Qiagen N.V.
- Radient Pharmaceuticals
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For the purpose of this report, Reports and Data has segmented the global cancer biomarkers market based on type, cancer type, profiling technology, application, and region:
Type Outlook (Revenue, USD Billion; Volume, 2018-2028)
- Genetic Biomarkers
- Epigenetic Biomarkers
- Proteomic Biomarkers
- Glycoprotein Biomarkers
Cancer Type Outlook (Revenue, USD Billion; Volume, 2018-2028)
- Breast Cancer
- Blood Cancer
- Lung Cancer
- Cervical Cancer
- Colorectal Cancer
- Ovarian Cancer
- Liver Cancer
- Stomach Cancer
Profiling Technology Outlook (Revenue, USD Billion; Volume, 2018-2028)
- Imaging technologies
- Computed Technology (CT)
- Magnetic Resource Imaging (MRI)
- Positron Emission Tomography (PET)
- Cytogenetics-Based Tests
Application Outlook (Revenue, USD Billion; Volume, 2018-2028)
- Risk Assessment
- Personalized Medicine
Regional Outlook (Revenue, USD Billion; Volume, 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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