USD 13.24 Billion
Cancer Biomarkers Market Size, Share, Growth Analysis, By Profiling Technology(Omics Technologies [Proteomics (Immunoassays, Mass Spectrometry, 2D Gel Electrophoresis, Protein Microarrays), By Cancer Type(Non-Hodgkin's Lymphoma, Breast Cancer, Lung Cancer, Colorectal Cancer), By Product(Instruments [Imaging Instruments, Pathology-Based Instruments, Biopsy Instruments], Consumables [Antibodies), By Application(Diagnostics, Research & Development, Prognostics, Risk Assessment), By End User(Diagnostic Laboratories, Biopharmaceutical Companies and Cros, Research and Academic Institutes, Other End Users), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2775 |
Region:
Global |
Published Date: September, 2024
Pages:
157
|Tables:
124
|Figures:
72
Cancer Biomarkers Market Insights
Global Cancer Biomarkers Market size was valued at USD 23.8 billion in 2022 and is poised to grow from USD 26.47 billion in 2023 to USD 61.88 billion by 2031, growing at a CAGR of 11.8% during the forecast period (2024-2031).
Growing number of cancer patients around the world are projected to bolster the demand for cancer biomarkers over the coming years. High investments in oncology research and rising awareness regarding the benefits of cancer biomarkers in diagnostics and treatment of cancer are also expected to create new opportunities for cancer biomarker companies going forward. The rising adoption of gene therapies and personalized medicine to treat different cancer indications is also expected to promote the use of cancer biomarkers in the future. Advancements in biomarker research and surging preference of non-invasive and minimally invasive procedures around the world are estimated to create new opportunities for cancer biomarkers companies going forward. On the other hand, lack of clinical validity and reproducibility, limited awareness among medical professionals, ethical concerns regarding the use of biomarkers, and stringent regulations are all expected to slow down market development in the future.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Lung Cancer
Fastest Growth
Genomics
Growth Rate
13.6% CAGR
Global Cancer Biomarkers Market ($ Bn)
Country Share for North America Region (%)
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Cancer Biomarkers Market Segmental Analysis
Global Cancer Biomarkers Market is segmented by Profiling Technology, Cancer Type, Product, Application, End User and region. Based on Profiling Technology, the market is segmented into Omics Technologies, Imaging Technologies. Based on Cancer Type, the market is segmented into Non-Hodgkin's Lymphoma, Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Melanoma, Leukemia, Thyroid Cancer, Bladder Cancer, Kidney Cancer, and Other Cancers. Based on Product, the market is segmented into Instruments, Bioinformatics Software. Based on Application, the market is segmented into Diagnostics, Research & Development, Prognostics, Risk Assessment, and Other Applications. Based on End User, the market is segmented into Diagnostic Laboratories, Biopharmaceutical Companies and Cros, Research and Academic Institutes, Other End Users. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Application
The use of cancer biomarkers for diagnostic applications is projected to account for the largest share of the global cancer biomarkers market. High emphasis on early diagnosis and growing investments in the development of advanced diagnostic technologies are projected to help this segment maintain its dominance. The rising use of cancer biomarkers to develop new diagnostic tests for various cancer indications will also present new opportunities for cancer biomarker providers. Rising popularity and preference for minimally invasive diagnostic procedures will also play in the hands of cancer biomarker companies going forward.
On the other hand, the use of cancer biomarkers for personalized medicine applications is expected to increase at a robust CAGR across the forecast period and beyond. Rising use of personalized medicine for the treatment of chronic diseases such as cancer and growing preference of patients for the same are helping this segment drive up the demand for cancer biomarkers. Rising awareness regarding the benefits of cancer biomarkers in helping create personalized treatment for patients with better chances of recovery is also estimated to help generate new business scope for market players in the future.
Analysis by Profiling Technology
Imaging technologies are projected to account for a substantial share of the global cancer biomarkers market. High use of imaging technologies in cancer diagnostics and treatment is projected to help this segment maintain its dominant market share. High investments in the development of biomarker-based diagnostic imaging technologies and growing utilization of the same around the world are helping this segment generate more revenue than others. Moreover, advancements in imaging technologies and integration of artificial intelligence are further opening up new business opportunities for cancer biomarker companies focusing on this segment.
Meanwhile, the use of cancer biomarkers in Omics technologies is projected to increase at a notable pace over the coming years. Omics technologies facilitate the discovery of novel biomarkers through the utilization of approaches such as genomics, proteomics, and metabolomics. Increasing sophistication of bioinformatics technologies and advancements in biotechnology are slated to promote the use of cancer biomarkers in this segment. High demand for personalized medicine will also help this segment provide new business scope for cancer biomarker providers in the long run. However, dearth of skilled professionals is a key factor that could slow down the use of cancer biomarkers in Omics technologies going forward.
Global Cancer Biomarkers Market By Application
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Cancer Biomarkers Market Regional Insights
North America is estimated to secure the top spot when it comes to the cancer biomarkers market. Robust investments in oncology research by public and private organizations coupled with a developed healthcare infrastructure are helping this region maintain its dominance. The United States is forecasted to be the most opportune market for cancer biomarkers companies operating in this region followed by Canada. High healthcare expenditure and quick adoption of advanced diagnostic and treatment technologies are also estimated to help promote the demand for cancer biomarkers in North America over the coming years.
The growing prevalence of different types of cancers allows Asia Pacific to emerge as the most opportune regional market for cancer biomarker companies in the world. Rising demand for better cancer diagnostics and treatments has led to high investments in oncology research in this region thereby promoting cancer biomarkers demand as well. India, China, and Japan are slated to be the leading markets for cancer biomarker providers operating in this region. Easy regulatory approvals as compared to North America and Europe are also expected to attract many cancer biomarker companies to this region in the future.
Global Cancer Biomarkers Market By Region
- Largest
- Fastest
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Cancer Biomarkers Market Dynamics
Drivers
Rising Incidence of Cancer
- Poor lifestyle choices and growing adoption of unhealthy habits have significantly increased the number of people suffering from cancer. This surge in incidence of cancer around the world is a key factor promoting cancer biomarker demand as they play a vital role in cancer diagnostics as well as treatment.
Rising Use of Liquid Biopsies
- Liquid biopsies that can detect cancer biomarkers in blood, urine, or other bodily fluids are being extensively used for non-invasive cancer diagnostics and this is projected to primarily augment the demand for cancer biomarkers over the coming years. High preference for non-invasive and minimally invasive procedures will also favor cancer biomarkers market growth in the future.
Restraints
Ethical and Privacy Concerns
- Cancer biomarkers are often derived from genetic and molecular data of a patient, which reveals more information about a person than just biomarkers. Concerns regarding the privacy of this molecular data and its usage are estimated to slow down the demand for cancer biomarkers over the coming years.
Lack of Reproducibility and Clinical Viability
- Maintaining reproducibility and clinical viability of biomarkers across diverse patient populations is not possible as the results depend on multiple factors such as ethnicity, stages of cancer, and types of cancer. This variability is forecasted to inhibit cancer biomarkers market growth potential across the forecast period and beyond.
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Cancer Biomarkers Market Competitive Landscape
Cancer biomarkers providers around the world are estimated to focus on research to maximize their business potential and stay competitive. Developing new therapeutics for specific cancer indications will also be a preferred strategy for new as well as leading cancer biomarkers companies. Market players can also benefit from government support to take their oncology research capabilities to the next level. Use of advanced drug discovery and development techniques will also be popular among cancer biomarker providers in the future.
Top Player’s Company Profiles
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Thermo Fisher Scientific Inc. (US)
- Qiagen (Netherlands)
- Bio-Rad Laboratories, Inc. (US)
- Illumina, Inc. (US)
- Agilent Technologies, Inc. (US)
- Abbott Laboratories (US)
- BioMerieux (France)
- Merck KGaA (Germany)
- Becton, Dickinson and Company (US)
- Myriad Genetics, Inc. (US)
- Sysmex Corporation (Japan)
- Hologic, Inc. (US)
- Quest Diagnostics (US)
- Centogene N.V. (Germany)
- BioGenex (US)
- Siemens Healthineers (Germany)
- Exact Sciences (US)
- R&D Systems, Inc. (US, part of Bio-Techne)
- Biovision Inc. (US)
- Olink (Sweden)
- Meso Scale Diagnostics, LLC (US)
- Invivoscribe, Inc. (US)
- INOVIQ Ltd. (Australia)
Recent Developments
- In August 2024, United States Food and Drug Administration (FDA) announced the approval of a new cancer biomarker test from Illumina Inc. TruSight™ Oncology (TSO) test checks over 500 genes to identify immuno-oncology biomarker that help in enrolling the patient for different targeted therapies or clinical trials.
- In June 2024, in an effort to identify and qualify new cancer biomarkers, The Cancer Research UK National Biomarker Centre was launched. The new establishment was aimed at bridging the gaps between biomarker discovery and clinical research to provide early detection of cancer and reduce mortality rates as well.
- In February 2024, a new initiative called Test Your Biomarkers was launched by pharmaceutical giants Amgen and Astellas to improve awareness and promote testing for stomach cancer markers among people. This move helped create more awareness regarding the importance of biomarker testing among people and shined light on how biomarkers are changing cancer detection and treatment.
Cancer Biomarkers Key Market Trends
- Use of AI for Biomarker Research: Cancer biomarker companies can focus on utilization of artificial intelligence to analyze large datasets and identify complex patterns to help fast track the discovery and innovation of novel cancer biomarkers. Enhancement of biomarker diagnostic accuracy can also be achieved through the use of advanced technologies such as machine learning and artificial intelligence in the future.
- Companion Diagnostics: As the use of targeted therapies increases it is also benefiting the demand for companion diagnostics as well. Biomarker tests can help identify which therapies can be used for the treatment of a patient and which ones would be more beneficial. High investments in the development of new companion diagnostics based on biomarkers will create new opportunities for cancer biomarkers market players going forward.
Cancer Biomarkers Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing incidence of cancer and rising investments in oncology research around the world are slated to boost the demand for cancer biomarkers over the coming years. However, lack of clinical validity and ethical concerns are projected to slow down the demand for cancer biomarkers over the coming years. North America is slated to spearhead the adoption of cancer biomarkers on the back of high healthcare expenditure and extensive oncology research activity. Use of cancer biomarkers for companion diagnostics could also provide some lucrative opportunities for cancer biomarker companies in the future. Use of artificial intelligence can also help fast-track the discovery and development of novel cancer biomarkers.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 23.8 billion |
| Market size value in 2031 | USD 61.88 billion |
| Growth Rate | 11.8% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Cancer Biomarkers Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Cancer Biomarkers Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Cancer Biomarkers Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cancer Biomarkers Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cancer Biomarkers Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cancer Biomarkers Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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