Cancer
Biomarker Market Research Report: By Types (Protein Biomarker, Genetic
Biomarker), By Applications (Diagnostic, Prognostic, Therapeutic), By End Users
(Pharmaceutical and Biotechnology Companies, Diagnostic Companies) – Forecast
till 2023
Cancer biomarkers
biochemical entities that are released during the presence of a tumor,
indicating the presence of cancer in the body. Targeting biomarkers in cancer
treatment are becoming a standard in the era of precision medicine. Market
Research Future (MRFR) has thoroughly studied the trends and patterns in the
global Cancer Biomarker Market over the
forecast period of 2017-2023 in a detailed study. MRFR asserted that the cancer
biomarker is likely to strike a CAGR of 15.8% over the forecast period.
The increasing
burden of oncological disorders has resulted in the move towards early
detection and preventive approach towards cancer. Extensive research is being carried
out to further understand the role of biomarkers and come up with new
biomarkers to predict treatment effectiveness and treatment activity in various
oncology disorders. This coupled with massive investment by both public, and
private entities have augmented the growth of the cancer biomarker market. The
growing popularity of personalized medicine is a key factor in enhancing the
growth of the cancer biomarker market. Personalized medicine hinges on
biomarkers in extracting information that is relevant for diagnosis, prognosis,
and therapy and is core to the personalized medicine field. Biomarker-driven
approach can accelerate the drug development process in cancer, and various
pharmaceutical companies are outlaying massive investments in R&D activities
which are expected to augment the growth of the market over the forecast
period. Furthermore, cancer biomarkers are an area of active research of the US
FDA. Recent years have witnessed the approval of various cancer biomarkers and
has paved the way for the expansion of the cancer biomarker market.
On the contrary,
low benefit-cost ratio associated with the development of cancer
biomarkers is likely to restrain the growth of the global cancer biomarker
market.
Segmentation
The global cancer
biomarker market has been segmented based on type, application, and end user.
By type, the
cancer biomarker market has been segmented into protein biomarker, genetic
biomarker, and others.
By application,
the cancer biomarker market has been segmented into diagnostic, prognostic and
therapeutic. The diagnostic segment has been further segmented into imaging and
non- Imaging.
By end user, the
cancer biomarker market has been segmented into pharmaceutical and
biotechnology companies, diagnostic tool companies, healthcare it/big data
companies, clinical laboratories
Regional Analysis
By region, the
cancer biomarker market has been segmented into the Americas, Asia Pacific
(APAC), Europe, and the Middle East & Africa (MEA).
The Americas
account for the largest share of the cancer biomarker market. The high
incidence rate of cancer and rapid advances in the cancer biomarker arena to
come up with new drugs and effective therapies is supporting the growth of the
market.
The Europe market
is driven by rigorous clinical trials and government funding for the same.
The influx of
investment for R&D by both public and private sector is driving the growth
of the APAC cancer biomarker market. In addition, increasing prevalence of
cancer has evoked extensive R&D activities for the development of new
therapies and drugs.
MRFR projects
relatively slow growth in the MEA cancer biomarker market. Low penetration of advanced
diagnostics and treatment facilities and lack of awareness hinders the growth
of the market.
Competitive Landscape
F. Hoffmann-La Roche AG (Switzerland), PerkinElmer, Inc.
(U.S.), Bristol-Myers Squibb (U.S.), Novartis AG (Switzerland), Thermo Fisher
Scientific Inc. (U.S.), Bio-Rad Laboratories (U.S.), Merck & Co., Inc.
(U.S.), Becton Dickinson (U.S.), Abbott Laboratories (U.S.), Pfizer Inc.
(U.S.), QIAGEN N.V (U.S.), GlaxoSmithKline Plc. (U.S.), Illumina Inc. (U.S.), and Eli Lilly and Company (U.S.) are the
distinguished players in the cancer biomarker market.
Industry Updates
April 2019 -
Scientists at the University of Southern California, US, are researching the
presence of polymorphisms, specific genes known for detecting the presence of
cancerous cells. The success of these findings can culminate in the use of
these markers for detecting colorectal cancer at a preventive stage.
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