Cancer Biomarkers Key Vendors like BioMerieux S.A., Bard1 Life Sciences Limited, Bio-Rad Laboratories, Abbott Laboratories, Becton And Challenges With Forecast To 2024

Cancer biomarkers are biological molecule produced either by tumor cells or by human tissues in response to cancer, which then measured and evaluated as an indicator of cancerous processes within the body. Cancer biomarkers are extensively used in detection and management of patients with cancer. In patients, who undergone curative surgery for cancer, biomarkers are used in follow-up surveillance and for early detection of possible recurrent disease. Moreover, continuous advancements in cancer diagnosis includes use of molecular biomarkers as part of routine diagnostic tests. Molecular alterations used for cancer diagnosis involves application of DNA, RNA, microRNAs, and proteins. Governments of various countries are focusing on investing in prevention and early intervention of cancer, to reduce emotional and physical impact of cancer on patients and their families. Moreover, national healthcare departments are involved in continuous development in cancer research and treatment. Increasing incidence of cancer is expected to lead to innovation and development in the area of cancer diagnosis with biomarker. For instance, according to the 2015 data findings, U.K. Department of Health & Social Care invests US$ 7.5 billion on cancer related treatment and services, annually.

The global cancer biomarkers market was valued at US$ 11.6 billion in 2017 and is expected to witness a CAGR of 14.2% over the forecast period (2017–2025).

In April 2016, University of Auckland received a US$ 10 million grant to conduct research in cancer biomarkers, from Auckland entrepreneur, Mr Liangren Li and his family. The grant was allocated for initiating the PROSPER (Profiling of Oncology Patients as part of Clinical care and Research) project. In 2016, National Cancer Institute (NCI) invested US$ 3.9 billion for cancer research activities, which accounts for 70.8% of overall NCI 2016 budget. It invested around US$ 533 million on cancer detection and diagnostic research activities. Moreover, in 2016, NCI allocated 40.4% of its funds for Research Project Grants (RPGs). Furthermore, in 2017, NCI budget increased by US$ 454 million (8.7%) from previous year (2016) for cancer research activities. These increasing research and development (R&D) activities in biomarkers is expected augment growth of global cancer biomarkers market.

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Various government and private organizations are focusing on increasing investment in R&D for cancer biomarkers. This is owing to increasing incidence and prevalence of cancer, globally. For instance, in June 2018, Cancer Research UK, proposed funding of US$ 140,922 per year, through biomarker project for biomarker assay development, validation, and qualification for use in cancer clinical diagnosis. Furthermore, in March 2016, the National Cancer Institute (NCI) invested US$ 5.5 million in 2016, for setting up of laboratories to conduct research on biomarkers and biomarker assays for cancers of the breast, prostate, lung, and genitourinary organs, and also to those cancers, which have high incidence rate.

According to the International Agency for Research on Cancer (IARC), in 2012, an estimated 14.1 million new cancer cases were reported. Among these, the most common form of cancer was lung cancer (13%), breast cancer (11.9%), and colorectal cancer (9.7%). According to the World Cancer Research Fund (WCRF) International, 2015 data findings, 58% of the lung cancer cases were reported in emerging economies, in 2014. Hungary had the highest rate of lung cancer, followed by Serbia, and North Korea. Moreover, highest incidence of lung cancer was registered in North America and Europe, for the same year. According to the National Cancer Institute, in 2014, around 66,771 people were suffering from liver and intrahepatic bile duct cancer in the U.S. Liver and intrahepatic bile duct cancer represented 2.4% of all new cancer cases reported in the U.S. in 2014. Moreover, obesity, diabetes, alcoholic liver disease (cirrhosis), chronic hepatitis B, hepatitis C infections, tobacco, and smoking are the most common risk factors for liver cancer. According to the Centers for Disease Control and Prevention (CDC), February 2018 data findings, each year in the U.S., around 22,000 men and 9,000 women suffer from liver cancer, and around 16,000 men and 8,000 women die from liver cancer. Thus, substantial increase in incidence and mortality rate of liver cancer in the country, is expected to boost growth of cancer biomarkers market, in the near future.

However, high treatment cost and unfavorable reimbursement policies for cancer biomarkers is a factor hindering growth of the cancer biomarkers market. Cancer diagnosis is relatively expensive, which primarily includes medical and non-medical costs for cancer diagnosis, treatment, and cancer care. For instance, according to the Cancer Action Network, in 2014, cancer patients in the U.S. paid around US$ 4 billion out-of-pocket for cancer treatment. In addition to this, around US$ 87.8 billion was spent in 2014, in the U.S., on cancer-related health care.

Key players operating in the cancer biomarkers market include BioMerieux S.A., Bard1 Life Sciences Limited, Bio-Rad Laboratories, Abbott Laboratories, Becton, Dickinson and Company, Merck & Co., Inc., Qiagen N.V., and Thermo Fisher Scientific Inc.

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