Cancer Biomarkers Market Huge Growth In Coming Year | Top Players Abbott Laboratories; F.Hoffmann-La Roche Ltd.; QIAGEN; Thermo Fisher Scientific Inc.; Affymetrix Inc.; Illumina, Inc.; Agilent Technologies; Merck & Co. Inc.; Hologic, Inc.; Sino Biological

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 is reported to be second leading cause of mortality in the U.S. after cardiovascular disorders. Prevalence of breast, prostate, and lung malignancies has increased at a very steep rate with an estimated number of over 1,600 people being affected in the U.S. every year. In 2017, around 200,000 cases of breast cancer have been reported in the U.S.

Increasing awareness amongst patients and healthcare professionals about the importance of early diagnosis of malignancies and rising demand for personalized medicine is anticipated to provide this market with high growth opportunities in the coming decade. Diagnostic biomarkers for early diagnosis enable doctors on deciding better treatment alternatives leading to successful recovery in lesser time.

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In addition, increasing regulatory approval of novel drugs and diagnostics pertaining to cancer biomarkers is estimated to increase the adoption rate. For instance, in 2016, Epigenomics AG, a company involved in the development of novel epigenetic biomarker test announced that its Epi proColon was included by the Chinese government for colorectal cancer (CRC) screening.

Type Insights

Based on type, the market is categorized into breast, prostate, colorectal, cervical, liver, and lung. Breast cancer was the largest segment in 2016. Breast, lung, and prostate cancer cumulatively held the revenue share of over 40% in 2016. Increasing awareness about early testing and growing base of target population are the key factors contributing toward dominance

On the other hand, lung cancer is expected to witness fastest growth over the forecast period. Growing number of diagnostic tests targeting EGFR and BRAF mutations, which act as an essential biomarker for diagnosis of non-small cell lung cancer are anticipated to accentuate the segment growth.

Biomolecule Insights

Based on the biomolecule, the market is further segmented into genetic, epigenetic, metabolic, and proteomic biomarkers. Genetic biomarkers owing to their extensive usage, high-reliability rate, and easier analysis held a significant market share. Over 85% of malignancies are reported to be detected with the help of genetic and proteomic biomarkers.

Epigenetics has gained high acceptance in field of cancer diagnostics. High amount of research is being undertaken by many players for the analysis of key epigenetic modification related to cancer for further development of biomarker targeting drugs. Increasing collaboration between and pharmaceutical companies for the development of novel drugs targeting epigenetic biomarkers is estimated to boost growth of this segment.

Application Insights

Cancer biomolecules find application in various fields such as drug discovery and development, diagnostics, and personalized medicine. Diagnostics were the key revenue-generating application of the market pertaining to factors such as increasing development of biomarker-based oncology tests with high specificity and sensitivity.

Personalized medicine owing to its increasing demand and rising awareness amongst healthcare professionals is anticipated to witness flourishing growth rate. Moreover, growing approval for companion diagnostic tests for cancer drugs is expected to affirm market growth.

Regional Insights

North America dominated the regional segment followed closely by Europe. High adoption of innovative technology, presence of key pharmaceutical companies, established R&D infrastructure pertaining to the development of novel diagnostic products and increased demand for specific & early diagnostics are the major factors for aforementioned dominance.

However, the Asia Pacific region owing to increasing prevalence of cancer, beneficial environment for clinical trials, and increasing government funding for supporting drug development programs is anticipated to witness lucrative CAGR over the forecast period. Moreover, growing focus of pharmaceutical companies over this region coupled with rising awareness for biomarker-based diagnosis is one of the high impact-rendering driver for growth.

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Competitive Insights

Abbott Laboratories; F.Hoffmann-La Roche Ltd.; QIAGEN; Thermo Fisher Scientific Inc.; Affymetrix Inc.; Illumina, Inc.; Agilent Technologies; Merck & Co. Inc.; Hologic, Inc.; Sino Biological Inc.; and Becton, Dickinson and Company are some of the key players of the market.

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