Cancer Biomarkers Market : Moving Towards Brighter Future
Global Cancer Biomarkers Market size is $15,737 million by 2022, registering a CAGR of 13.3% from 2016 to 2022. Cancer biomarkers are molecules released during the presence of a tumor or a particular indication in the body to the presence of cancer. These are either substance, molecule or a physical event that indicate the existence of cancerous cells in the body. These molecules are generally found in tissues, urine, serum, blood, and other body fluids that indicate any abnormal process or a disease.
Cancer biomarkers are traceable substances that can be used as an indicator of biological state of tumor and thus it can be used to analyze diagnostic and prognostic stages of cancer. The prevention of cancer by diagnosing and analyzing various cancer biomarkers using different diagnostic techniques is a profound approach for obtaining rapid results for treatment. These biomarkers are used as risk indicators for various cancer types such as lung cancer, breast cancer, and prostate cancer among others. Some of the key biomarkers that are widely used include CEA, SCC, NSE Cyfra 21-1 and TPA (lung cancer), PSA (prostate cancer) and CA15-3, EGF R, BRCA 1/2 and Cytokeratin 14 (breast cancer).
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Global Cancer biomarkers market is broadly segmented based on profiling technology, biomolecules, cancer type, application, and geography. By profiling technology, the cancer biomarker industry is segmented into omic technologies, imaging technologies, immunoassays, and cytogenetics based tests. Omic technologies segment occupies the largest cancer biomarker market size. Based on biomolecules, the cancer biomarker industry is segmented into genetic biomarkers, protein biomarkers, and glycoprotein biomarkers. Genetic biomarkers occupies the largest cancer biomarker market share. The various cancer type include breast cancer, lung cancer, prostate cancer, colorectal cancer, stomach cancer, and others; among which breast cancer accounts for the largest cancer biomarker market size. Based on application, the market can be segmented into diagnostics, drug discovery and development, prognostics, risk assessment, and others. Prognostics segments occupies the largest cancer biomarker market share.
Geographically, the global cancer biomarkers market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America is the leading revenue generating region, due to high incidence rate of cancer, growth in awareness towards cancer and higher cancer biomarker testing, whereas Asia-Pacific is growing at the fastest CAGR due to increasing disposable incomes, increasing awareness, and rising affordability for advanced cancer treatments.
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Top Impacting Factors
The need for cancer biomarkers is expected to increase globally during the forecast period majorly due to the alarming prevalence of cancer cases. However, reluctance in adoption of new technologies, high cost of biomarker techniques, and low detection rate are anticipated to restrain the market growth. Moreover, increasing positive effects of the drivers is likely to reveal new market opportunities for the key players.
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Rising Incidence and Prevalence of Various Cancer Types
The global population has witnessed an alarming surge in cancer, with about 14 million new cancer cases reported each year. The following table depicts the worldwide incidences and the five-year prevalence of cancer in 2012, estimated by World Health Organization (WHO). According to WHO, it is anticipated to further increase over the next two decades by 70% with 22 million new cancer cases. Cancer is highly prevalent in lower and middle income countries as they lack suitable healthcare infrastructure to effectively combat the condition. In the year 2012, WHO estimated that 57% of new cancer cases and 48% of five year prevalent cases occurred in developing or under-developed regions. In addition, the cancer cases were 25% higher in men than in women.
Major companies have adopted collaboration and partnership as their key development strategy. The key players of the cancer biomarkers industry include F.Hoffmann-La Roche Ltd., Abbott Laboratories, GlaxoSmithKline plc, Novartis AG, Merck & Co., Inc., Bristol-Myers Squibb, Eli Lilly and Company, Pfizer, Inc., Qiagen N.V. and Genomic Health, Inc. The other players in the value chain include: bioMérieux, Astellas Pharma Inc., Myriad Genetics, Epigenomics and Radient Pharmaceuticals.
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We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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