Cancer Biomarker Market Size, Share, Development
Biomarkers discovery has become crucial as these play a key
role in the early diagnosis of cancer, which increases the survival rates by
enabling an early treatment. Clinical trials use metabolomics, imaging, and
other innovative technologies to trace oncology biomarkers using proteins and
genes. A cancer biomarker is indicative of the presence of cancer in the body.
A biomarker can be a molecule secreted by a tumor or a specific response of the
body to the presence of cancer.
Cancer
Biomarker Market at a CAGR of 15.8% During Forecasted Period, 2017-2023These
biomarkers are thus increasing the chances of survival rates of patients and
thus driving this market. Enhanced accuracy and speed of diagnosis and boost in
government and private funds for biomarker research and drug discovery are also
some of the drivers of this market. The growth of this market is backed by the
increasing prevalence of cancer, rising investment in oncology research,
technological advancement, increasing use of cancer biomarker in drug discovery
& development and Food and Drug Administration (FDA) support for the
development of biomarker.
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Key Players
Some of key the players in the market are F. Hoffmann-La Roche AG (Switzerland), Becton
Dickinson (U.S.), Abbott Laboratories (U.S.), PerkinElmer, Inc. (U.S.),
Bristol-Myers Squibb (U.S.), Bio-Rad Laboratories (U.S.), Eli Lilly and Company
(U.S.), Merck & Co., Inc. (U.S.), Pfizer Inc. (U.S.), GlaxoSmithKline plc.
(U.S.), QIAGEN N.V (U.S.), Novartis AG (Switzerland), Thermo Fisher Scientific
Inc. (U.S.), Illumina Inc. (U.S.),
Segmentation
The global cancer biomarker market is segmented on the basis
of types, applications and end users.
·
On the basis of types, the market is segmented
into protein biomarker, genetic biomarker and others
·
On the basis of application, the market is
segmented into diagnostic, prognostic and therapeutic. The diagnostic
sub-segment is further classified into imaging and non- Imaging.
·
On the basis of end users, the market is
segmented into pharmaceutical and biotechnology companies, diagnostic tool
companies, healthcare it/big data companies, clinical laboratories
Regional Analysis
The global cancer biomarker market consists of four major
regions: the Americas, Europe, Asia Pacific, and the Middle East and Africa.
America holds the largest market share in the cancer
biomarker market owing to increasing prevalence of cancers in the U.S. and
Canada. Growing prevalence of malignancies coupled with increasing focus on
development of targeted therapies is a major factor affirming positive growth
of this market. North America dominated the regional segment followed closely
by Europe. High adoption of innovative technology, presence of key
pharmaceutical companies, established R&D infrastructure pertaining to the
development of novel diagnostic products and increased demand for specific
& early diagnostics are the major factors for aforementioned dominance.
In Europe, Germany, the U.K, and France are the largest
contributors to the market owing to the availability of funds for research, and
extensive research and development activities in oncology.
In Asia Pacific, India, and China are the fastest developing
regions in the market owing to an overall demand for early diagnostic and
treatment services, and increasing expenditure on primary care services across
Asia Pacific. However, the Asia Pacific
region owing to increasing prevalence of cancer, beneficial environment for
clinical trials, and increasing government funding for supporting drug
development programs is anticipated to witness lucrative CAGR over the forecast
period. Moreover, growing focus of pharmaceutical companies over this region
coupled with rising awareness for biomarker-based diagnosis is one of the high
impact-rendering drivers for growth.
The Middle East & Africa exhibit steady but positive
growth owing to low technology penetration in developing regions of Africa, and
increasing demand for diagnostics services in developing regions. In the Middle
East, the United Arab Emirates accounts for the largest market share for cancer
biomarker market.
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