The increasing prevalence of cancer, rising government support for research on cancer biomarkers, growing use of biomarkers in drug discovery and development, and increasing use of biomarker tests for diagnostic purposes are the major factors that are driving the growth of this market.
Market Size –
According to research report the global cancer biomarkers market
to reach USD 20.4 billion by 2022. and is estimated to grow at a CAGR
of 12.2% during the forecast period. The APAC region is projected to
register the highest CAGR during the forecast period. The APAC market
for cancer biomarkers has witnessed significant growth due to increasing
demand for better healthcare services in developing economies such as
India and China.
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In this report, the market is segmented into biomarker type, cancer type, profiling technology, application, and region.
•
On the basis of biomarker type, the cancer biomarkers market segmented
into protein biomarker, genetic biomarker, and other biomarkers include
cell, viral, and carbohydrate biomarkers. The genetic biomarkers segment
is expected to register the highest CAGR during the forecast period.
The high growth rate of this segment can be attributed to the increasing
advancements in genomics technologies and the rising adoption of
high-throughput sequencing technologies in biomarker discovery and
development.
• The cancer biomarkers market on the basis of cancer
type is classified into breast, lung, colorectal, prostate, melanoma,
leukemia, thyroid, bladder, non-hodgkin’s lymphoma, kidney, and other
cancers including multiple myeloma, cervical, central nervous system
cancer, gastric, liver, pancreatic, oral cavity and pharynx, stomach,
and ovarian cancer. During the forcast period, the lung cancer segment
is expected to register the highest CAGR. The high growth rate of this
segment can be attributed to the increasing research focus on lung
cancer biomarkers by market players.
• On the basis of application,
the cancer biomarkers market is classified into diagnostics, research
and development, prognostics, risk assessment, and other applications
such as personalized medicine, surrogate endpoints, and therapeutics.
The research and development application segment is estimated to
register the highest CAGR during the forecast period. Pharmaceutical and
biotech companies are increasingly focusing on the use of biomarkers in
their drug discovery and development process and have formed strategic
alliances for sharing technology for biomarker applications in
large-stage clinical trials, which is fueling the growth of this market.
•
The cancer biomarkers market on the basis of profiling technology is
segmented into omics technology, imaging technology, immunoassays,
bioinformatics, and cytogenetics. The omics technologies segment is
expected to register the highest CAGR during the forecast period. The
high growth rate of this segment can be attributed to the increasing
adoption of advanced omics technologies for cancer detection and drug
discovery & development applications, especially in developing
countries. Advances in high-throughput omics technologies are also
contributing to the growth of this market by increasing the space of
prospective biomarkers in cancer research.
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The
major players operating in the cancer biomarkers market are Abbott
(US), Affymetrix (US), Roche (Switzerland), Illumina (US), QIAGEN
(Netherlands), Agilent (US), Thermo Fisher (US), Merck (US), Becton
Dickinson and Company (US), and Hologic (US).
