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Cancer Biomarkers Market to Garner $26,979.50 Mn by 2027 | Abbott Laboratories, Exact Sciences Corporation, Bristol-Myers Squibb Company

06-25-2021 06:28 AM CET | Health & Medicine

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
Cancer Biomarkers Market to Garner $26,979.50 Mn by 2027 | Abbott

According to the report, the global cancer biomarkers industry was estimated at $10.94 billion in 2019, and is expected to hit $26.97 billion by 2027, registering a CAGR of 11.8% from 2020 to 2027.

COVID-19 scenario-

Prevention of cancer by analyzing various cancer biomarkers using different diagnostic methods is an effective approach to obtain quick results for the treatment.So, although a number of industries have been badly affected by the pandemic, the medical diagnostics industry has, quite naturally, not confronted the impacts on a severe note.However, the global lockdown has led to postponement of the procedures and accordingly, there’s been a short-term decline in the revenue rate in cancer biomarkers market. But, it’s expected that the market would experience massive gains through the end of the pandemic.

Get detailed COVID-19 impact analysis on the Cancer Biomarkers Market

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The report offers a detailed segmentation of the global cancer biomarkers market based on profiling technology, biomolecule, cancer type, application, and region.

Based on profiling technology, the omic technologies segment accounted for more than half of the total cancer biomarkers market share in 2019, and will maintain its dominance by 2027. However, the immunoassays segment is estimated to portray the highest CAGR of 16.4% during the forecast period.

The genetic biomarkers segment to dominate during the estimated period-

Based on biomolecule, the genetic biomarkers segment contributed to nearly half of the global cancer biomarkers market revenue in 2019, and is anticipated to lead the trail till 2027. This is due to its accuracy and precision while detecting cancer and monitoring the effectiveness of the treatment. Simultaneously, the glycol-biomarkers segment would portray the fastest CAGR of 12.5% by 2027. Increase in awareness about the roles of glycosylation and other post translational modifications in cancer biology fuels the segment growth.

North America to dominate in terms of revenue-

Based on geography, North America held the major share, garnering more than one-third of the global cancer biomarkers market, owing to strong focus on innovation and technological advancements in healthcare & diagnostics in the region. At the same time, Asia-Pacific is expected to manifest the fastest CAGR of 15.1% from 2020 to 2027. This is due to increase in prevalence of cancer, rise in patient awareness, and increase in disposable incomes in the province.

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The Major companies profiled Are:

Bio-Rad Laboratories, Abbott Laboratories, Exact Sciences Corporation, Bristol-Myers Squibb Company, Merck KGaA, F.Hoffmann-La Roche Ltd., Qiagen N.V., PerkinElmer, Inc., Thermo Fisher Scientific, Inc., and Siemens AG.

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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