Historical predictions suggest that the market was already on a strong expansion path, registering a staggering 8% CAGR from 2016 to 2020.
Rising preference for personalized medicine has boded well for the market expansion of cancer Biomarker.
Fact.MR – A Market Research and Competitive Intelligence Provider: According to Fact.MR’s Study, The cancer biomarkers market revenue is anticipated to surpass US$ 33 Bn by 2031, representing a 3x increase from 2020. Presently, the market is valued at a little above US$ 11 Bn. Increasing prevalence of debilitating cancers are spurring expansion prospects.
Historical predictions suggest that the market was already on a strong expansion path, registering a staggering 8% CAGR from 2016 to 2020. By the end of the said historical period, the market was valued at over US$ 11 Bn.
According to the American Society of Clinical Oncology’s 2018 data, lung cancer is the second most common kind of cancer and the leading cause of death in both men and women worldwide. The rising prevalence and incidence of lung cancer are the primary factors driving the growth of this industry. In 2018, there were 2 million new cases of lung cancer reported worldwide, according to GLOBOCAN.
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Key Takeaways of Global Cancer Biomarkers Market Study
- Global cancer biomarkers market to add 3x value compared to 2021
- Circulating Tumor Cell (CTC) test biomarkers demand to surge at 13% CAGR
- Prostate Specific Antigen (PSA) to account for over 20% revenue share
- North America is expected to generate an absolute opportunity of US$ 5.2 billion.
- Asian cancer biomarkers market is predicted to grow at a CAGR of approximately 14%.
- Europe has a large revenue market share for prostate specific antigen testing, accounting for almost 45% of global revenue.
“The worldwide cancer biomarkers market has enormous future growth potential, owing largely to rising cancer prevalence and consequent investment in cancer research and development,” says a Fact.MR analyst.
Key Segments Covered in Cancer Biomarkers Industry Research
Test Type
- PSA Cancer Biomarker Tests
- CTC Cancer Biomarker Tests
- AFP Cancer Biomarker Tests
- CA Cancer Biomarker Tests
- HER2 Cancer Biomarker Tests
- BRCA Cancer Biomarker Tests
- ALK Cancer Biomarker Tests
- CEA Cancer Biomarker Tests
- EFGR Mutation Cancer Biomarker Tests
- KRAS Mutation Cancer Biomarker Tests
- Other Cancer Biomarker Tests
Illness Indication
- Blood Cancer Biomarkers
- Prostate Cancer Biomarkers
- Ovarian Cancer Biomarkers
- Stomach Cancer Biomarkers
- Liver Cancer Biomarkers
- Other Cancer Biomarkers
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Competitive Landscape
The global market for cancer biomarkers is extremely competitive. Half of the market is controlled by the top three companies. F. Hoffmann-La Roche Ltd is a prominent player in the cancer biomarkers business, providing a wide range of tumor biomarker test choices.
- The World Health Organization has placed 29 La Roche medicines on its Model List of Essential Medicines, including life-saving antibiotics, anti-malarial, and chemotherapy.
- The FDA has formally authorized the company’s prescription medicine TECENTRIQ. The drug is intended to be used as the first-line treatment for non-small cell lung cancer, including squamous and non-squamous (NSCLC).
- Another significant player is Abbott Laboratories, which focuses on cancer detection and treatment research and development. Furthermore, it develops country-specific portfolios composed of domestic and international pharmaceutical names. Its products help in cancer detection by providing in vitro diagnostics.
- F. Hoffmann-La Roche Ltd
- TECENTRIQ
- Abbott Laboratories
- Thermo Fisher Scientific Inc.
- Agilent Technologies
- Illumina Inc.
- bioMerieux SA
- Hologic Inc.
- Genomic Health Inc.
- QIAGEN.
Some Notable Offerings by Fact.MR Report on Cancer Biomarkers market:
- We will provide you an analysis of the extent to which this cancer biomarkers market research report acquires commercial characteristics along with examples or instances of information that helps you to understand it better.
- We will also help to identify customary/ standard terms and conditions, as offers, worthiness, warranty, and others.
- Also, this report will help you to identify any trends to forecast growth rates.
- The analyzed report will forecast the general tendency for supply and demand.
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