According to Coherent Market Insights, the global cancer biomarkers market size is estimated to be valued at USD 25.60 billion in 2024 and is expected to surpass USD 59.01 billion by 2031, growing at a CAGR of 12.7% from 2024 to 2031.
The growth of
the cancer biomarkers market is majorly driven by the rising incidences of
cancer cases globally. According to the World Health Organization, cancer is
the second leading cause of death worldwide, with 10 million deaths in 2020. Increasing
application of biomarkers in drug discovery, development and companion
diagnostics is also fueling the market growth. Biomarkers helps in better
understanding of cancer and speeds up the development of personalized medicine.
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Market Trends
Increasing
application of genomics in cancer research and Big Data analytics are the major
trends witnessed in the global cancer biomarkers market. Next-generation
sequencing technology has enabled high-throughput analysis of whole genomes. It
helps in identifying specific biomarkers related to cancer.
Big data
analytics is widely used for integrating and analyzing large volumes of cancer
data for biomarker discovery. Biotechnology companies are focusing on
developing biosignatures by integrating multiomics datasets using artificial
intelligence.
Non-invasive
liquid biopsy technique for detection of cell-free DNA based biomarkers in
blood is gaining traction in the market. It provides real-time monitoring of
disease and therapeutic response with minimal invasiveness.
Cancer
Biomarkers Market Report Coverage Report
Coverage Details Market
Revenue in 2024 $25.60
billion Estimated
Value by 2031 $59.01
billion Growth
Rate Poised
to grow at a CAGR of 12.7% Historical
Data 2019–2023 Forecast
Period 2024–2031 Forecast
Units Value
(USD Million/Billion) Report
Coverage Revenue
Forecast, Competitive Landscape, Growth Factors, and Trends Segments
Covered By
Biomarker Type, By Cancer Type, By Profiling Technology, By End User Geographies
Covered North
America, Europe, Asia Pacific, and Rest of World Growth
Drivers •
High prevalence and incidence of cancer •
Rapid technological advances Restraints
& Challenges •
High treatment cost •
Regulatory issues
Market
Opportunities
The cancer
biomarkers market is segmented based on biomarker type into CA 125, HER2, EGFR,
CD20, BRAF, calcitonin, and others. CA 125 segment is expected to hold the
largest share during the forecast period. This is owing to its wide usage in
ovarian cancer screening and monitoring disease progression or treatment
response. It is elevated in 80% of late-stage ovarian cancers and helps in
early detection and management of the disease.
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Breast cancer
segment is anticipated to dominate due to large prevalence of the disease
worldwide. According to the World Health Organization, breast cancer is the
most common cancer in women with over 2 million new cases reported in 2020.
Availability of various FDA approved breast cancer biomarkers helps monitor the
disease occurrence and progression.
Key Market
Takeaways
The global
cancer biomarkers market is anticipated to witness a CAGR of 12.7% during the
forecast period 2024-2031. This is owing to growing application of biomarkers
in drug development and companion diagnostics.
On the basis of
biomarker type, CA 125 segment is expected to hold a dominant position in 2024.
It is frequently used to monitor ovarian cancer, one of the deadliest
gynecological cancers affecting women.
By cancer type,
breast cancer segment will continue to lead the market during the forecast
period. This is owing to large prevalence of the disease globally and
availability of routine screening programs in developed nations. On the basis of
region, North America is expected to hold a dominant position over the forecast
period. This is due to well-established healthcare infrastructure, favorable
reimbursement policies, and growing R&D investments by key players.
Competitor
Insights
- bioMerieux
Inc. - INOVIQ - Bio-Rad
Laboratories Inc. - Abbott - Becton
Dickinson and Company - Merck KgaA - QIAGEN N.V. - Thermo Fisher
Scientific Inc. - CENTOGENE N.V. - PerkinElmer
Inc. - Siemens
Healthineers - F. Hoffmann-la
Roche Ltd. - Agilent
Technologies, Inc. - Invitae
Corporation - Myriad
Genetics - Guardant
Health\ - Illumina - FOUNDATION MEDICINE,
Inc.
Recent
Developments
In March 2024,
Synexa Life Science announced the addition of the Olink Target imunoassays and
the Olink Signature Q100 instrument into its biomarker discovery services.
In January 2024,
Cleveland Diagnostics, Inc. announced the closure of US$ 75 million in growth
capital investment. Cleveland Diagnostics, Inc. is a biotech company
specializing in early cancer detection. Ask For Customization @ https://www.coherentmarketinsights.com/insight/request-customization/175
Detailed Segmentation- By Biomarker Type: By Cancer Type: By Profiling Technology: By End User: By Regional: About Us:
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