Global CancerBiomarker Market is anticipated to reach USD 33.7 billion by 2025. Biomarkers imply the molecules or substances found in tissues, blood, or the other body fluid; which states the abnormal and normal condition of the body. The cancer biomarkers tests are conducted to detect mutated or normal genes responsible for cancer.
The
factors that propel the growth of the cancer biomarker industry include
advancements in omics technologies, prevalence of cancer, growth in R&D
funding from private bodies and government, rising healthcare spending, and
increasing demand for personalized medicine in cancer treatments. On the other
hand, there are factors that may hamper the growth of the market including
reimbursement issues, need for immediate processing, and high cost of
diagnosis. Cancer Biomarker Market is anticipated to grow at a significant CAGR
of 14.3% in the upcoming period as the scope, product types, and its
applications are increasing across the globe.
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Cancer
biomarker industry may be explored by type, application, biomolecule type, and
geography. The market may be explored by type as Lung cancer, Prostate cancer,
Breast cancer, Colorectal cancer, Liver cancer, Cervical cancer, Others. The
“Breast Cancer” segment led the market in 2016 and is anticipated to maintain
its dominance by 2025 owing to growing consciousness about initial testing and
rising base of target populace.
The
key applications that could be explored in the Cancer Biomarker Market include
Personalized medicine, Diagnostics, Drug Discovery and Development, and Others.
The “Diagnostics” segment led the market in 2016 and is anticipated to maintain
its dominance by 2025 due to growing development of biomarker-based oncology
tests with high sensitivity and specificity. The cancer biomarker industry
could be explored based on Biomolecules type as Epigenetic Biomarkers,
Proteomic Biomarkers, Genetic Biomarkers, Metabolic Biomarkers, and Others. The
“Genetic biomarkers” segment led the market in 2016 and is anticipated to
maintain its dominance by 2025 due to high-reliability rate, and extensive
usage.
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North
America accounted for the major share of the cancer biomarker market size in
2016 and will continue to lead in the forecast period. The factors that could
be ascribed to the growth include increasing demand for personalized medicine,
growing government funding for development and discovery of biomarkers, growing
use of biomarkers in Drug Discovery and growth by pharmaceutical industries in
that country, and acceptance of innovative omics technologies for biomarker
discovery.
Some
of the key players that fuel the growth of the cancer biomarker industry
comprise F-Hoffmann-La Roche Ltd.; Abbott Laboratories; Thermo Fisher
Scientific Inc.; QIAGEN; Affymetrix Inc.; Agilent Technologies; Illumina, Inc.;
Merck & Co. Inc.; Sino Biological Inc.; Hologic, Inc.; Dickinson and
Company, and Becton. The leading companies are taking up partnerships, mergers
and acquisitions, and joint ventures in order to boost the inorganic growth of
the industry.
Market
Segment:
Cancer
Biomarker Type Outlook (Revenue, USD Billion, 2014 - 2025)
• Breast cancer
• Prostate cancer
• Colorectal cancer
• Cervical cancer
• Liver cancer
• Lung cancer
• Others
Cancer
Biomarker Biomolecule Outlook (Revenue, USD Billion, 2014 - 2025)
• Genetic Biomarkers
• Epigenetic Biomarkers
• Metabolic Biomarkers
• Proteomic Biomarkers
• Others
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