Cancer Biomarkers Market Industry Landscape And Acknowledgement with Top Players BioMerieux S.A., Bard1 Life Sciences, Bio-Rad, Abbott, Becton, Dickinson and Company, Merck

The Global Cancer Biomarkers Market, by Biomarker Type (Protein Biomarkers, Genetic Biomarkers, and Others), By Cancer Type (Breast Cancer, Lung Cancer, Prostate Cancer, Kidney Cancer, Liver Cancer, and Others), by End User (Hospitals, Academic and Cancer Research Institutes, Ambulatory Surgical Centers, and Diagnostic Laboratories), was valued US$ 33.7 billion in 2017 and is projected to exhibit a CAGR of 14.2% over the forecast period (2017–2025) as highlighted in a new report published by Coherent Market Insights.

Growing prevalence and incidence of various types of cancer coupled with increasing need for early diagnosis of cancers are the major factors driving growth of global cancer biomarkers market over the forecast period. Continuous research and development and technology advancements in cancer biomarkers had led to introduction of better and affordable biomarkers in the field of clinical diagnosis. For instance, according to the data published in Cell Metabolism Journal, in March 2018, a team of Australian researchers found a unique metabolic marker, which can detect adenocarcinomas, a form of lung cancer. These metabolic biomarkers respond to immunotherapies and offers simple, non-invasive blood test for early detection of lung cancer.

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).

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In February 2018, researchers at Georgetown-Lombardi Comprehensive Cancer Center, identified biomarkers, which can use liquid biopsies to predict response to cancer treatment and help in identifying increasingly specific subsets of GI cancers to make treatment decisions. According to the data published in the European Journal of Breast Health, in October 2017, body fluid tests can be used for early detection of new or recurrent breast cancer. This new approach includes tissue testing and body fluid analysis of individuals diagnosed with breast cancer, for more effective cancer treatment.

Moreover, manufacturers are focusing on developing new cancer biomarkers, which would aid in early diagnosis of cancers and are used for oncology research studies. For instance, in November 2016, Oxford Cancer Biomarkers Ltd. introduced ColoTox test for predicting risk of toxicity with cancer chemotherapy tests. In December 2015, Olink Bioscience introduced Proseek Multiplex Oncology II96x96: 92 human protein biomarker panel for oncology research.

Key takeaways of the cancer biomarkers market:

The global cancer biomarkers market is expected to expand at a CAGR of 14.2% during the forecast period (2017–2025), owing to increasing prevalence and incidence of cancer and growing demand for early diagnosis of cancer. For instance, according to the Cancer Atlas: 2017, there were an estimated 14.1 million new cancer cases in 2012. Moreover, India, China and other East and Central Asian countries accounted for nearly half of world’s new cancer cases and deaths, in 2017. In addition, according to the same source, by 2025, there will be an estimated 19.3 million new cancer cases and 11.4 million cancer deaths, in less developed regions. Protein biomarkers segment holds a major share in the market, owing to its extensive use in analyzing protein concentration in blood, tissue, urine, and other body fluids for early cancer detection.

Liver cancer segment holds largest revenue share in the market, owing to increasing number of liver cancer biomarkers in the market and their ability for efficient diagnosis of early liver cancer Among end users, diagnostic laboratories segment holds the largest market share, owing to its ability to provide advanced laboratory testing and research services for cancer research to researchers and oncologist.

Some of the major players involved in global 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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This release was published on openPR.