Press release
Cancer Biomarkers Market Foresight by Innovation, Market Status & Key Players: 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 G
The global Cancer Biomarkers Marketwas valued at USD 10.19 billion in 2016 and is projected to reach USD 28.03billion by 2025, growing at a CAGR of 11.9% from 2017 to 2025.Cancer Biomarkers have high usage in Cancer diagnostics and treatment, especially in Tissue specific therapies. Therefore market of this genetically engineered product is seeing high values in terms of market value.
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.
Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and personal interactions. In addition, our corporate relations with various companies allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:
Validate and improve the data quality and strengthen research proceeds
Further develops analyst team’s market understanding and expertise
Supplies authentic information about market size, share, growth, and forecasts
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. The details of the key factors are explained below:
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.
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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.
*Profiles of these companies are not included. However, the same will be included as per the request
Key Benefits for Stakeholders:
The projections in the report are made by analyzing the current cancer biomarkers market trends and future market potential in terms of value. The analysis helps in understanding the strategies adopted by various companies for the growth of the global cancer biomarkers market.
Comprehensive analysis of the factors that drive and restrict the growth of the global cancer biomarkers market is provided.
The market conditions of the global cancer biomarkers market across all regions are comprehensively analyzed.
Porter's five forces model gives an in-depth analysis of bargaining power of buyers and suppliers, threats of new entrants and substitutes and competition amongst the key market players.
Prime focus of the report is to reveal opportunities-analysis within this Cancer Biomarkers market with respect to cancer biomarkers industry.
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