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
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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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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.
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.
Historical Data Available for
|US$ Mn for Value & ‘000 Units for Volume|
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Available upon Request
Key Segments Covered
- 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
- Blood Cancer Biomarkers
- Prostate Cancer Biomarkers
- Ovarian Cancer Biomarkers
- Stomach Cancer Biomarkers
- Liver Cancer Biomarkers
- Other Cancer Biomarkers
Cancer Biomarkers Market- Scope of Report
A recent study by Fact.MR on the cancer biomarkers market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering cancer biomarkers.
The study also provides the dynamics responsible for influencing the future status of the cancer biomarkers market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the cancer biomarkers market, along with their product portfolios, enhances the reliability of this comprehensive research study.
The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of Cancer biomarkers across the globe.
A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of cancer biomarkers during the forecast period. Price point comparison by region with global average price is also considered in the study.
Key Questions Answered in Report
- Which are the most lucrative cancer biomarkers markets?
- Which factors will impact the growth of cancer biomarkers?
- How will changing trends impact the strategies of market players?
- How can market players capture the low-hanging opportunities across regions?
- Which companies are leading the cancer biomarkers industry?
- What are the winning strategies of stakeholders in the market?
Analysis on Market Size Evaluation
The market has been analyzed for each segment in terms of volume (‘000 Units) and value (US$ Mn).
Estimates at global and regional levels for cancer biomarkers are available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global cancer biomarkers market.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the cancer biomarkers during the forecast period.
Country-specific valuation on demand for cancer biomarkers has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value & volume for emerging countries has also been included in the report.
In-depth Analysis on Competition Analysis
The report sheds light on leading manufacturers of cancer biomarkers, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering cancer biomarkers has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the cancer biomarkers domain.
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the cancer biomarkers industry, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.
Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.
- 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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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
Is a sample of this report available for evaluation?
Yes, you can request a sample, and it will be sent to you through an email.