CHICAGO, April 29,
2024 /PRNewswire/ -- Cancer Biomarkers
Market in terms of revenue was estimated to be worth
$24.5 billion in 2024 and is poised
to reach $42.0 billion by 2029,
growing at a CAGR of 11.3% from 2024 to 2029 according to a new
report by MarketsandMarkets™.
Increasing incidence of cancer followed by awareness for early
diagnosis, growing investments in research and development of
cancer biomarkers, extensive use of these biomarkers for diagnosis,
drug discovery and development are the key factors responsible for
growth of this market. Companies in the market for optometry
equipment are finding that developing nations like China, Japan,
and India provide attractive
opportunities.
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Browse in-depth TOC on "Cancer Biomarkers
Market"
364 - Tables
53 - Figures
340
- Pages
Cancer Biomarkers Market Scope:
Report
Coverage
|
Details
|
Market Revenue in
2024
|
$24.5
billion
|
Estimated Value by
2029
|
$42.0
billion
|
Growth Rate
|
Poised to grow at a
CAGR of 11.3%
|
Market Size Available
for
|
2022–2029
|
Forecast
Period
|
2024–2029
|
Forecast
Units
|
Value (USD
Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
Profiling technology,
cancer type, product type, application, end-user, and
region
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, Latin America, the Middle East & Africa and GCC
Countries
|
Report
Highlights
|
Updated financial
information / product portfolio of players
|
Key Market
Opportunities
|
Personalized
medicine
|
Key Market
Drivers
|
Rising technological
advancements in the development of cancer biomarkers
|
According to the profiling technology segment, the omics
technology held the biggest market share for cancer
biomarkers.
The market for cancer biomarkers has been divided into two
segments based on profiling methods: omics technologies and imaging
technologies. As of 2023, the cancer biomarkers market was
dominated by the omics technology segment, mainly due to high
throughput nature of these technologies in cancer biomarker
discovery and diagnosis.
Throughout the projection period, the breast cancer segment
is expected to develop at the fastest rate.
The market for cancer biomarkers is divided into categories
according to the kind of cancer: non-Hodgkin's lymphoma, kidney
cancer, bladder cancer, thyroid cancer, breast cancer, lung cancer,
colorectal cancer, prostate cancer, melanoma, leukemia, thyroid
cancer, and other cancer types. The market for cancer biomarkers
was dominated in 2023 by the breast cancer segment. The huge share
of this segment is due to the growing rate of breast cancer cases
worldwide followed by awareness for diagnosis for prevention and
treatment.
The instruments segment held the largest share in the market,
by product.
The cancer biomarker market is divided into three segments based
on product: instruments, consumables, and bioinformatics software.
In 2023, the instruments segment holds the major market due to
continuous need for cancer detection, improvements in instrument
technology and high accuracy detection methods.
By application category, the cancer biomarkers market held
the biggest share in 2023 for the diagnostics segment.
The market for cancer biomarkers has been divided into segments
based on application, including risk assessment, prognostics,
diagnostics, and research & development. As of 2023, the cancer
biomarkers market was dominated by the diagnostics sector,
primarily due to the increase in cancer incidence, increased
awareness and acceptance of diagnostic tests and increase in
technologically advanced biomarker products.
"North America aimed for the
largest share of the optometry equipment market".
The global cancer biomarkers market is segmented into six major
regions—North America, Europe, the
Asia Pacific, Latin America, the Middle East & Africa and GCC Countries. North America is the largest regional market
for cancer biomarkers. The large share of North America in this market can be attributed
to the increasing prevalence of cancer, increasing research on
cancer biomarkers, technological advancements, and the increasing
use of cancer biomarkers in drug discovery and development.
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Cancer Biomarkers Market Dynamics:
Drivers:
- Rising technological advancements in the development of cancer
biomarkers
Restraints:
- Technical issues related to sample collection and storage
Opportunities:
- Personalized medicine
Challenge:
- Challenges associated with cancer biomarker validation
Key Market Players of Cancer Biomarkers
Industry:
The major players leading in cancer biomarkers market are F.
Hoffmann-La Roche Ltd. (Switzerland), Thermo Fisher Scientific, Inc.
(US), QIAGEN N.V. (Netherlands),
Illumina, Inc. (US), Bio-Rad Laboratories, Inc. (US), Abbott
Laboratories (US), bioMérieux SA (US), Becton, Dickinson and
Company (US), Merck Millipore (US), Agilent Technologies (US),
Myriad Genetics, Inc. (US), Sysmex Corporation (Japan), Hologic, Inc. (US), Quest Diagnostics
(US), Centogene N.V. (Germany).
Breakdown of supply-side primary interviews, by company type,
designation, and region:
- By Company Type: Tier 1 (40%), Tier 2 (30%), and Tier 3
(30%)
- By Designation: C-level (27%), Director-level (18%), and Others
(55%)
- By Region: North America
(51%), Europe (21%), Asia- Pacific (18%), Latin America (6%), and Middle East & Africa(4%)
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Recent Developments of Cancer Biomarkers Industry:
- In November 2023, Agilent
received FDA approval for PD-L1 IHC 22C3 pharmDx in gastric or
gastroesophageal junction (GEJ) adenocarcinoma.
- In May 2022, Illumina introduced
a new pan-cancer companion diagnostic to match patients with rare
genetic mutations to targeted therapy.
- In December 2022, QIAGEN received
FDA approval for a companion diagnostic to Mirati Therapeutics'
KRAZATI in non-small cell lung cancer.
Cancer Biomarkers Market - Key Benefits of Buying the
Report:
The report will help the market leaders/new entrants in this
market with information on the closest approximations of the
revenue numbers for the overall cancer biomarker market and the
subsegments. This report will help stakeholders understand the
competitive landscape and gain more insights to position their
businesses better and to plan suitable go-to-market strategies. The
report also helps stakeholders understand the pulse of the market
and provides them with information on key market drivers,
restraints, challenges, and opportunities.
The report provides insights on the following
pointers:
- Analysis of key drivers (High prevalence of cancer, growing use
for research and diagnosis), restraints (Technical issues related
to sample collection and storage), opportunities (Rising healthcare
expenditure, Increasing Demand from Emerging Economies), and
challenges (lack of skilled professionals) influencing the growth
of the cancer biomarker market.
- Product Development/Innovation: Detailed insights on upcoming
technologies, research & development activities, and new
product & service launches in the cancer biomarker market
- Market Development: Comprehensive information about lucrative
markets – the report analyses the cancer biomarker market across
varied regions.
- Market Diversification: Exhaustive information about new
products, untapped geographies, recent developments, and
investments in the cancer biomarker market
- Competitive Assessment: In-depth assessment of market shares,
growth strategies and service offerings of leading players like F.
Hoffmann-La Roche Ltd. (Switzerland), Thermo Fisher Scientific Inc.
(US), QIAGEN (Netherlands),
Illumina, Inc. (US), Bio-Rad Laboratories, Inc. (US), among others
in cancer biomarker market.
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Get access to the latest updates on Cancer Biomarkers Companies
and Cancer Biomarkers Market Size
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