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

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).

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. '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)'

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.

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.  

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.