Cancer Biomarkers Market: An Overview
According to the current analysis of Reports and Data, the Global Cancer Biomarkers market was valued at USD 14.68 Billion in 2019 and is expected to reach USD 32.83 Billion by the year 2027, at a CAGR of 12.2%.
The Centre for Disease Control and Prevention (CDC) estimates that approximately 22,000 men and 9,000 women suffer from liver cancer, and nearly 16,000 men and 8,000 women die from the disease in the United States annually. Cancer biomarkers are the molecules secreted by cancerous tumours into the blood and other tissues, which can be detected by diagnosing and screening and used for the prediction for the progression of the disease. Advancement of genomic analysis technique, initiation of effective guidelines for biomarkers manufacturing, extensive research by cancer societies, and proven effectiveness of transplants are some of the primary growth stimulants for the market. However, certain manufacturing and pharmacological issues are expected to hinder global CB market growth.
Product developments in research institutes have been propelling the growth of the CB market. For instance, in 2018, Researchers from the University of Luxembourg discovered a new biomarker for colorectal cancer, which divided patients into “high” and “low” risk groups, helping oncologists to ascertain more accurate treatment for each patient.
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Cancer Biomarkers Market Dynamics
There have been numerous breakthrough developments in the cancer biomarkers market. The advancements in bioinformatics tools and the novel genomic technologies such as two-dimensional gel electrophoresis, tissue microarray, and protein assays & mass spectrometry have the potential to develop biomarkers enhanced with precision and efficacy, and reliability. Moreover, an Integrated Smart Wearable and Biomarker Detection System (ISWEBDS) is expected to revolutionize the future of the healthcare industry. Biosensors are smart wearable devices that will be equipped to identify relevant biomarkers and notify the user accordingly. Thus, such robust developments in the healthcare sector along with the increasing investments in the Research and Development activities, which, in turn, will lead to the innovation of advanced technologies.
However, high operational costs of the biomarkers manufacturing process, rigid guidelines for clinical trials, and various regulatory challenges may inhibit the growth of the global CB market.
Cancer Biomarkers Market: Regional Outlook
North America accounted for the largest market share of 39.3% in 2019. The region has an extremely advanced healthcare sector that engages itself in continuous R&D activities for innovative product launches. The region serves as home to a majority of key industry players. Countries such as the U.S. and Canada, which are the epicentres of the market development, have high incidences of cancer, consequently leading to escalating demand for novel as well as effective therapeutic modalities. Furthermore, the rapidly evolving medical industry, thanks to increasing investments in the sector, contributes to the market share.
The Asia Pacific regional market is projected to register the fastest growth rate by 2027. The region has been showing promising developments across the healthcare and medical industries in the past few years. Rapid healthcare infrastructural developments and increasing technological developments have contributed to the robust growth of the regional market. Countries such as India and China have untapped potential, which is further expected to drive the regional cancer biomarkers market.
Cancer Biomarkers Market: Key Players
- Abbott Laboratories,
- Agilent Technologies,
- Merck & Co Inc.,
- Qiagen N.V.
- Thermo Fischer Scientific Inc
The COVID-19 Impact on Cancer Biomarkers Market:
The outbreak of COVID-19 has had an apparent impact on many aspects of business, and the healthcare sector has been the most affected by the crisis. The World Health Organization declared COVID-19 to be a global pandemic and the healthcare sector undertook a number of emergency steps to help the global population fight with the deadly disease. While hospitals and clinics have been filled to capacity, trying to help ailing patients, most patients have been told to avoid healthcare institutions if not faced with an utter emergency as hospitals are highly contagious as the pandemic rages on. The cancer biomarkers market is expected to register a slowdown as though cancer is an ailment that, in most cases, need urgent treatment, can be less threatening than the COVID-19 virus. But the market will once again pick up its growth pace as things get back to normal after the pandemic is finally over.
- Detailed overview of the parent market
- Changing cancer biomarkers market dynamics in the industry
- In-depth cancer biomarkers market segmentation
- Historical, present, and projected cancer biomarkers market size in terms of volume and value
- Recent cancer biomarkers market trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Segments, sub-segments, and geographical regions to exhibit promising growth
- A neutral perspective on cancer biomarkers market performance
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/cancer-biomarkers-market
Cancer Biomarkers Market: Segmentation
This report forecasts revenue growth at global, regional, and country levels to provide an analysis of market trends in each segment and sub-segment from 2017 to 2027. For the purpose of the study, this Reports and Data has segmented the Global Cancer Biomarkers Market on the basis of biomolecule type, disease type, profiling technologies, application, services, and region:
Biomolecule Type (Revenue, USD Million; 2017–2027)
- Genetic Biomarkers
- Epigenetic Biomarkers
- Proteomic Biomarkers
- Glycoprotein Biomarkers
Disease Type (Revenue, USD Million; 2017–2027)
- Breast Cancer
- Blood Cancer
- Lung Cancer
- Cervical Cancer
- Colorectal Cancer
- Ovarian Cancer
- Liver Cancer
- Stomach Cancer
Profiling Technologies (Revenue, USD Million; 2017–2027)
- Imaging technologies
- Computed Technology (CT)
- Magnetic Resource Imaging (MRI)
- Positron Emission Tomography (PET)
- Omic Technologies
- Cytogenetics-Based Tests
Application (Revenue, USD Million; 2017–2027)
- Risk Assessment
- Disease Diagnosis
- Personalised Medicine
- Drug Discovery and Development
Method (Revenue, USD Million; 2017–2027)
- Sample Preparation
- Assay Development
- Biomarkers and Testing
Regional Outlook (Revenue, USD Million; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Middle East and Africa (MEA)
Read News About “Cancer Biomarkers Market Information By Type (Genetic Biomarkers, Epigenetic Biomarkers, Proteomic Biomarkers, Glycoprotein Biomarkers), Disease Type, Profiling Technologies and Application: Forecast To 2027” @ https://www.globenewswire.com/news-release/2019/05/21/1833667/0/en/Cancer-Biomarkers-Market-To-Reach-USD-32-25-Billion-By-2026-Reports-And-Data.html