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Cancer Biomarkers Market

Cancer Biomarkers Market

Cancer Biomarkers Market Analysis By Test Type (PSA Cancer Biomarker Tests, CTC, AFP, CA, HER2, BRCA , ALK, EFGR Mutation, KRAS Mutation CEA), By Illness Indication : Global Industry Insights by 2031

Cancer Biomarkers Market
FACT4587MR
  • Aug-2021
  • List of Tables : 18
  • List of Figures : 64
  • 170 Pages
  • Healthcare

Market Outlook of Cancer Biomarkers

The ubiquitous cancer biomarkers market 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.

The global market is being driven by the rising worldwide incidence of cancer and higher acceptance of cancer therapies in developing countries, the paradigm change in healthcare from illness diagnosis to risk assessment or early diagnosis, and the increased use of biomarkers in drug development.

Key Points Addressed in Cancer Biomarkers Industry Analysis

  • Market Estimates and Forecasts (2016-2031)
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand Share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • Recommendation on Key Winning Strategies

Cancer Biomarkers Revenue Analysis 2016-2020 Vs Future Outlook 2021-2031

Between 2016 and 2020, demand for cancer biomarkers surged at an impressive 8% CAGR to reach US$ 11 Bn by 2020. Cancer rates have grown dramatically in recent decades, with figures estimated to climb twofold over the next two decades.

Consequently, patients are opting for various treatments, which mostly comprise non-invasive surgical alternatives, besides the conventional chemotherapy. As a result, uptake of biomarkers for timely diagnosis is on the rise.

The global market for cancer biomarkers is expected to expand at an astounding 12% CAGR during the projected period. The availability of less intrusive and less expensive prognosis would increase market demand for biomarkers.

How are Surging Lung Cancer Incidence Rates Spurring Biomarkers Demand?

According to the American Society of Clinical Oncology's 2018 data, lung cancer is the 2nd most prevalent and the top cause of death globally. Although it can affect those who have never smoked, people who smoke are at the greatest risk of developing lung cancer.

The time and amount of cigarettes smoked by the patient enhance the risk of lung cancer. Other risk factors include passive smoking, asbestos inhalation, some metals, certain organic compounds, radiation, air pollution, and diesel exhaust at the workplace or in the environment.  

According to GLOBOCAN, there were 2 million new cases of lung cancer recorded worldwide in 2018. Furthermore, with such a high incidence rate of lung cancer worldwide, the need for diagnostic equipment is bound to rise, resulting in the expansion of this category in upcoming years.

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Preference for Personalized Medicine for Cancer Treatment Spurring Adoption?

One of the major factors expected to increase demand for cancer biomarkers is the paradigm shift toward personalized medicine for cancer treatment due to absence of standard diagnosis and treatment. Additionally, the importance of biomarkers is increasing in the field of personalized medicine, with applications in diagnosis, prognosis, and selection of targeted therapies.

Collaborations between various leading industry companies and research institutions with the goal of developing novel cancer biomarkers for personalized treatment are also expected to boost market expansion over the projected period.

Limited Reimbursement for Biomarker-based Treatment to Challenge Expansion?

Despite the increasing prevalence of cancer worldwide and the growing number of patients requiring diagnostic tests, one of the factors restricting global demand for these biomarkers is a lack of reimbursement policies for biomarker testing in developing and developed nations.

Another important issue limiting the market's growth is the high cost of cancer detection and treatment in developing nations. This is restricting the number of patients who undergo biomarker testing, and patients increasingly prefer other low-cost detection tests.

An Adaptive Approach to Modern-day Research Needs

Development of New Medicines Targeting Epigenetic Biomarkers Broadening Prospects?

Genetic biomarkers commanded a significant market share due to their widespread use, high dependency rate, and ease of analysis. More than 85% of cancers have been found to be identified using genetic and proteomic biomarkers.

In the realm of cancer diagnosis, epigenetics has received widespread recognition. Many players are conducting extensive research to analyze important epigenetic modifications associated to cancer in order to further create biomarkers targeting medicines. This segment's growth is expected to be boosted by increased collaboration between and pharmaceutical firms for the development of new medicines targeting epigenetic biomarkers.

Country Wise Analysis

What makes North America a Dominant Market for Cancer Biomarkers?

North America continues to be the most important market, accounting for more than 40% of the worldwide cancer biomarkers market. During the projected term, this is likely to gain traction.

During the projection period, the area is expected to generate an absolute opportunity of US$ 5.2 billion. This is owing to the governments’ large funding commitment for cancer research and training.

How Lucrative is Cancer Biomarkers Industry across Europe?

The Europe cancer biomarker market is expected to grow at a CAGR of 10.83% during the projection period. Because of technical advancements, Europe is seeing considerable growth.

Furthermore, the market's expansion is heavily influenced by the rising prevalence of cancer and the growing geriatric population. These are also key drivers of growth in the region's total healthcare business.

Why the Market in Asia anticipated to Outperform Others?

During the projected period, the Asian market for cancer biomarkers is predicted to grow at a CAGR of approximately 14%.

A paradigm shift from diagnosis after symptoms show to early diagnosis or risk assessment, particularly in nations such as China, India, and Japan.

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Category-wise Insights

Why are Circulating Tumor Cells (CTC) Biomarkers in High Demand?

During the projection period, the Circulating Tumor Cells (CTC) Test segment is expected to have the most market share.

The CAGR for the same is set at 13.0 %, indicating an increase in demand for cancer biomarkers in the market. This is due to its ease of use and early assessment of patient prognosis.

Prostate-Specific Antigen (PSA) Biomarkers are expected to Surge?

The Prostate-Specific Antigen (PSA) test sector is closely followed by the CTC test segment, which accounts for more than one-fifth of the worldwide cancer biomarkers market.

The worldwide prostate-specific antigen testing market is largely expanding due to an increase in prostate cancer among males over the age of 50. Furthermore, the use of numerous assay-based approaches and novel technologies for the detection of prostate cancer has increased demand for PSA testing.

The combination of modern technology for PSA testing has increased the accuracy and specificity of the findings, which has played a significant role in the market's growth. Europe has a large revenue market share for prostate specific antigen testing, accounting for almost 45% of global revenue.

Competitive Landscape

The worldwide market for cancer biomarkers is fiercely competitive. The top three firms control half of the market. F. Hoffmann-La Roche Ltd is a major participant in the cancer biomarkers industry, offering a comprehensive range of tumor biomarker test options. Some notable developments are as follows:

  • The World Health Organization has included 29 La Roche medications in the Model List of Essential Medicines, including life-saving antibiotics, anti-malarial, and chemotherapy.
  • Likewise, FDA officially approved the company's TECENTRIQ prescription medication. The medication is designed to be used as the first-line treatment for non-small cell lung cancer, including squamous and non-squamous (NSCLC).
  • Abbott Laboratories, another important participant, focuses on research and the development of innovative technologies for cancer detection and treatment. Furthermore, it creates country-specific portfolios comprised of local and worldwide pharmaceutical names. Its products provide in vitro diagnostics and aid in cancer diagnosis.

Report Scope

Report Attributes

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value & ‘000 Units for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

Key Countries Covered

  • U.S
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • Russia
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • GCC
  • South Africa

Key Market Segments Covered

  • Test Type
  • Illness Indication
  • Region

Key Companies Profiled

  • F. Hoffmann-La Roche Ltd
  • TECENTRIQ
  • Abbott Laboratories
  • Thermo Fisher Scientific Inc.
  • Agilent Technologies
  • Illumina Inc.
  • bioMerieux SA
  • Hologic Inc.
  • Genomic Health Inc.
  • QIAGEN.

Pricing

Available upon Request

Key Segments Covered

  • 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

- FAQs -

As of 2020, the worldwide cancer biomarkers market was estimated at over US $11 Bn.

As per Fact.MR, global demand for cancer biomarkers will likely reach US$ 33 Bn by 2031

According to Fact.MR, from 2016 to 2020, cancer biomarkers sales expanded at a CAGR of nearly 8%

High incidence rate of lung cancers all over the world is resulting in the expansion of cancer biomarkers.

The growing worldwide incidence of cancer and higher acceptance of cancer therapies in developing countries, the paradigm change in healthcare from illness diagnosis to risk assessment or early diagnosis, and the increased use of biomarkers in drug dev

US, U.K, China, India and Japan are anticipated to be the top countries driving cancer biomarkers demand

North America is expected to account for more than 40% of the worldwide cancer biomarkers market

The European market for cancer biomarkers is expected to grow at a CAGR of 10.83% until 2031

During the projected period, the Japanese cancer biomarkers landscape is expected to develop at an 11.9 % CAGR

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