Cancer Biomarker Market Growth, Future Scope, Challenges, Opportunities 2030

 

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.

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, ovarian cancer biomarkers, 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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