Cancer Biomarkers Market - Evolving Opportunities & Advancement with Top Key Players : Include Covid-19 impact Analysis

The global cancer biomarkers market size was valued at USD 10.27 Billion in 2016 and is expected to reach USD 26.80 Billion in 2025, growing at a CAGR of over 11.35% over the forecast period. Increasing demand for cancer detection techniques and requirement of high-speed noninvasive diagnosis using genomics and proteomics are a few drivers of this market.

A biological molecule that can be found in blood, other body fluids or tissues indicating the normalcy or abnormality of any biological process, or of a disease/condition etc. is called a biomarker. Cancer biomarkers are molecules, substances or processes that can indicate the presence of cancers in body. Biomarkers are either secreted by the cancer tissues themselves or are produced as a response to cancer by other cells in the body. They are present in urine, blood, tumor tissue, stool, other tissues or bodily fluids. Myriad of pharmaceutical and biotech companies employ biomarkers during their drug discovery and developmental process. This helps company’s strategic alliances for sharing technology for biomarker applications during large-stage clinical trials which is fueling the growth of this market.

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Biomarkers are utilized for follow-up surveillance and early detection of probable recurrent disease in patients who undergo curative surgery for cancer. Besides, incessant advancements in cancer diagnosis employ molecular biomarkers for routine diagnostic tests. Thus, application of cancer biomarkers in a wide range of detection techniques is estimated to impact the market positively.

Rampant cases of cancer across the globe has motivated governments of various countries to focus on investing in developing preventive and early intervention techniques for cancer. Moreover, national healthcare departments are continuously researching on cancer aiming to develop a treatment. Thus, government’s support and innovation and development in the area of cancer diagnosis with biomarker is anticipated to fuel the market growth. However, the steep cost of various cancer diagnostic tests, initial high capital investments, poorly suited reimbursement and regulatory systems and technical setbacks related to sample collection are constraining the growth of this market.

In 2017, breast cancer accounted for the largest market share in the cancer type segment

On the basis of cancer type, the cancer biomarker is classified into breast, multiple myeloma, melanoma, thyroid, liver, prostate, lung, leukemia, colorectal, central nervous system (CNS), bladder, gastric, kidney, and other cancers, such as cervical, non-Hodgkin’s lymphoma, pharynx, pancreatic, oral cavity, stomach and ovarian cancers.

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Breast cancer is anticipated to account for the maximum share in the global cancer biomarkers market. Increased focus of key companies on developing novel diagnostic assays is an essential driver for the growth of this market. Globally, numerous initiatives are being organized in order to increase the awareness of breast cancer ensuring early detection of the condition, thereby adding to the number of diagnostic scans. This factor is anticipated to drive market growth in this segment.

In 2017, protein biomarkers are anticipated to dominate the market share in biomarker type segment

Based on the type of biomarker, the cancer biomarkers market is segregated into genetic biomarker, protein biomarker and other biomarkers. Among these, the protein biomarkers segment is anticipated to dominate the global cancer biomarkers market which can be attributed to the monumental potential of protein biomarkers in detection of cancer, cancer diagnostics, prognostics, and therapeutic & clinical applications. Moreover, unlike steep costs of genetic biomarker tests, protein biomarker tests have low costs. Additionally, key pharmaceutical companies are majorly focused towards discovering protein biomarkers and are anticipated to augment the market during the forecast period.

Geographically, the North American region is leading in cancer biomarker market for the year 2017

The North American region holds the largest market share of the global cancer biomarkers market in 2017 which can be mainly attributed to favorable government policies and increased governmental support in the R&D of biomarkers. Furthermore, surge in the demand for personalized medicine, adoption of advanced omics technologies for discovery of biomarkers and increased use of biomarkers in drug development and discovery by pharmaceutical companies in that region also aids to the inflating market growth.

Some of the major players in the cancer biomarkers market are Merck, Abbott, Agilent, Roche, Hologic, Illumina , Becton Dickinson, Affymetrix, Thermo Fisher, and QIAGEN.

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