Biomarkers for cancer are molecules that can be produced in response to cancer, either by tumor cells or by human tissues, and which can be measured and analyzed to provide insight into the presence or absence of cancer. For both early diagnosis and ongoing care, oncologists rely heavily on biomarkers for cancer. Biomarkers are used in postoperative surveillance and early detection of disease recurrence in patients who have undergone curative surgery for cancer. In addition, molecular biomarkers are increasingly being incorporated into standard diagnostic procedures as part of the ongoing progress being made in cancer detection.
During the forecast period, the global cancer biomarkers market is projected to grow at a CAGR of 14.4%, from an anticipated value of US$21,643.9 million in 2022. (2022-2030).
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The cancer biomarkers market is projected to expand as a result of the disease’s high prevalence and incidence.
Over the forecast period, the market should expand due to the rising incidence of cancer. After skin cancer, breast cancer is the most common cancer in the United States. Breast cancer is equally likely to affect men and women. Nonetheless, it is primarily a female disease; cases in men are extremely uncommon. For instance, Breastcancer.org estimates that 287,850 new cases of invasive breast cancer and 51,400 new cases of non-invasive (in situ) breast cancer will be diagnosed in women in the United States in March 2022.
Market expansion is anticipated during the forecast period due to rising government and private sector spending on cancer biomarker research and development.
Numerous public and private entities are committed to raising funds for cancer biomarker research. Since cancer is becoming more common everywhere, this is the result. In June of this year (2019), for instance, Cancer Research UK requested yearly funding of US$ 140,922 through the biomarker project to advance the validation, qualification, and implementation of biomarker assays for use in clinical cancer diagnosis.
Global Cancer Biomarkers Market– Impact of Coronavirus (COVID-19) Pandemic_MI
Over a hundred countries have reported cases of COVID-19 since the outbreak in December 2019, and on January 30, 2020, the World Health Organization declared the situation a global public health emergency.
As a result of research and development being halted, the market for cancer biomarkers suffered during the COVID-19 pandemic. In addition, biomarker results may be inconclusive in cases of SARS-CoV-2 infection. For example, the robust immune response to acute viral infection may confound possible cancer-specific immune responses in September 2020, as indicated by data provided by the Society for Endocrinology.
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As a result of the COVID-19 pandemic on March 16, 2020, routine cancer screening in the United Kingdom was suspended, as reported by the National Center for Biotechnology Information in September 2021. Breast cancer, colorectal cancer, lung cancer, and esophageal cancer mortality rates are predicted to rise by 7.9-9.6%, 15.3-16.6%, 4.8-5.3%, and 5.8-6.0%, respectively, in the five years following the pandemic, according to a study by Maringe et al.
Global Cancer Biomarkers Market: Key Developments_MI
Nonagen Bioscience, a cancer diagnostics firm, announced the Oncuria bladder cancer immunoassay’s CE marking on June 16, 2022. First of its kind, Oncuria is a multiplex urine test that can quantitatively detect 10 biomarkers in urine that are linked to the presence of bladder cancer.
In an announcement made on June 3, 2022, Tempus, a pioneer in AI and precision medicine, detailed the addition of xF+, a non-invasive, liquid biopsy panel of 523 genes focused on pathogenic mutations in cell-free DNA, to its comprehensive genomic profiling offerings (cfDNA). Predictive biomarkers for response to different cancer immunotherapies, such as blood tumor mutational burden (bTMB) and microsatellite instability (MSI), can be measured.
Global Cancer Biomarkers Market: Restraint_MI
High treatment costs and unfavorable reimbursement policies are the primary restraints on expansion of the global cancer biomarkers market. An example would be the average cost of cancer treatment in India, which is around INR 500,000 (US$ 6,437) as of June 2, 2022, according to data updated by ClinicSpots, an online platform for users/patients to interact and discuss symptoms and cure for their ailment. The minimum cost is INR 90,000 (US$ 1,158), and the maximum cost is INR 2,750,000 (US$ 35,403). Cancer treatment in India is 60-80% less expensive than in the United States, the United Kingdom, Singapore, etc.
The main companies functioning in the market for cancer biomarkers worldwide are bioMérieux, Inc., INOVIQ, Bio-Rad Laboratories, Inc., Abbott, Becton, Dickinson and Company, Merck KgaA, QIAGEN, Thermo Fisher Scientific Inc., CENTOGENE N.V., PerkinElmer Inc., and Siemens Healthcare Private Limited
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• Current and future of Cancer Biomarkers Market outlook in the developed and emerging markets
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• The latest developments, market shares, and strategies that are employed by the major market players
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The Cancer Biomarkers Market is displayed in 13 Chapters:
Chapter 1: Market Overview, Drivers, Restraints and Opportunities
Chapter 2: Market Competition by Manufacturers
Chapter 3: Production by Regions
Chapter 4: Consumption by Regions
Chapter 5: Production, By Types, Revenue and Market share by Types
Chapter 6: Consumption, By Applications, Market share (%) and Growth Rate by Applications
Chapter 7: Complete profiling and analysis of Manufacturers
Chapter 8: Manufacturing cost analysis, Raw materials analysis, Region-wise manufacturing expenses
Chapter 9: Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10: Marketing Strategy Analysis, Distributors/Traders
Chapter 11: Market Effect Factors Analysis
Chapter 12: Market Forecast
Chapter 13: Cancer Biomarkers Research Findings and Conclusion, Appendix, methodology and data source
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