Guest Submission from AllTheResearch
A biomarker is any naturally occurring gene or molecule which is a measurable indicator of the presence or severity of a disease. Cancer biomarkers are processes or substances indicative of the presence of cancer in the body. Biomarkers may be secreted by cancer cells or by other cells in response to the presence of cancer.
Cancer biomarkers are present in blood, urine, stool, and other body fluids, and therefore, most of them can be non-invasively assayed. Cancer biomarkers are one of the best tools for early diagnosis, and it helps in prognosis and in predicting therapeutic responses as well.
The major factors that are driving the growth of the cancer biomarkers market are technological advancements in companion diagnostics and the development of new cancer biomarkers. Cancer biomarkers can be used for monitoring the response to treatment, and for optimizing treatment and thereby help improve patient outcomes. Apart from these, the rising incidence of cancer and increasing government support will help drive the growth of the market.
According to AllTheResearch, “The global cancer biomarkers market was valued at US$ 13.2 Bn in the year 2018 and is expected to reach US$ 35.3 Bn by the year 2026, growing at a CAGR of 13.1%.”
The cancer biomarkers market report covers an in-depth analysis of the market including statistical and subjective data points, along with the key market drivers and opportunities & restraints that have positive or negative effects on the overall global market. An in-depth analysis of the regional and country level market at the various segment and sub-segment levels has been provided. The report comprises a competitive analysis of the key players functioning in the market and covers in-depth data related to the competitive landscape of the market and the recent strategies & product launches that will assist or affect the market soon.
Global Cancer Biomarkers Market Segmentation Scope
By Biomarkers Type:
- Protein Biomarkers
- Genetic Biomarkers
- Other Biomarkers
By Cancer Type:
- Lung Cancer
- Prostate Cancer
- Colorectal Cancer
- Breast Cancer
- Other Cancer
- Research and Development
- Other Application
By Profiling Technology
- Imaging Technology
- OMICS Technologies
They help improve cancer detection and provide high-speed and non-invasive diagnosis. The accurate diagnosis and prognosis can help in proper planning of a treatment regimen. Biomarkers will also help in measuring the response to treatment and decide whether to continue or change the treatment. Cancer biomarkers are, therefore, a pivotal part in providing personalized care to cancer patients.
The approval of new biomarkers and the increasing investment in R&D are expected to drive the cancer biomarkers market. Advancements in OMICS technologies such as proteomics and genomics will drive the cancer biomarkers market further. Advancements in high-throughput genomic technologies such as Polymerase Chain Reaction (PCR) and Next Generation Sequencing (NGS) have facilitated the identification and analysis of various genetic mutations that lead to cancer. This has enabled the identification of various genomic cancer biomarkers.
Despite the numerous advantages that cancer biomarkers provide, the major drawback is the high cost of this technology. The development of cancer biomarkers and the validation of assays is a very complex and expensive process. This cost is eventually added up to the final cost of the biomarker testing assay, which is unaffordable for most patients, especially in developing countries.
Geographically, North America is dominating the cancer biomarkers market. Advancements in cancer biomarkers, high adoption rate of new technologies, and the presence of quality healthcare system are some of the reasons behind the dominance of this region. The Asia-Pacific region is expected to grow at a high CAGR during the forecast period, owing to an increase in cancer biomarkers testing in countries such as China, Japan, and India.
The notable players operating in the cancer biomarkers market are Abbott Laboratories (US), Agilent Technologies (US), Affymetrix Inc. (US), Becton, Dickinson and Company (US), F. Hoffman La Roche (Switzerland), bioMérieux SA (France), Hologic, Inc. (US), Qiagen (Germany), and Merck & Co. (US), amongst others.