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Cancer Biomarkers Market Rapid Growth 2019 by leading players 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

07-17-2019 08:25 AM CET | Health & Medicine

Press release from: Coherent Market Insights - Biotechnology

Cancer Biomarkers

Cancer Biomarkers

The global cancer biomarkers market is projected to witness significant growth over the forecast period, owing to rising incidence and prevalence of various cancer types, including breast cancer, lung cancer, kidney cancer, liver cancer, prostate cancer, and among others. Moreover, other factors impacting growth of cancer biomarkers market includes rising research and development activities in developing cancer biomarker and rising demand for personalized medicine in cancer therapies.

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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. Furthermore, 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 emerging economies. However, high cancer treatment cost and unfavorable reimbursement policies for cancer biomarker may hinder the growth of cancer biomarkers market.

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.

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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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