Cancer Biomarker Market 2021-2027: Global Size, Share, Growth, Trends

Precision Business Insights published a research report on “Cancer Biomarker Market: By Biomarker Type (Protein Biomarker, Genetic Biomarker, Others), By Cancer Type (Breast Cancer , Lung Cancer, Prostate Cancer, Non-Hodgkin’s Lymphoma, Bladder Cancer, Kidney Cancer, Liver Cancer, Others), By Profiling Technology (OMICS Technology, Imaging Technology, Immunoassays, Cytogenetics, Bioinformatics, Others), By Application (Diagnostics, Drug Discovery and Development, Prognostics, Risk Assessment, Others), and Geography - Global/Region/Country Forecast to 2027".

Cancer biomarkers are biological chemicals created in response to cancer by tumor cells or human tissues, which are subsequently analyzed and examined as indicators of malignant activities in the body. Cancer biomarkers are widely employed in the diagnosis and treatment of cancer patients. Biomarkers are employed in the follow-up monitoring and early diagnosis of suspected recurring illness in cancer patients who have had curative surgery. Furthermore, the use of molecular biomarkers as part of normal diagnostic testing is a constant advancement in cancer diagnosis. The utilization of DNA, RNA, microRNAs, and proteins in cancer detection involves molecular changes. To lessen the emotional and physical impact of cancer on patients and family members, governments in various countries are focused on investing in cancer prevention and early intervention. Furthermore, governmental healthcare departments are actively involved in cancer research and therapy advancement. The rising incidence of cancer is predicted to spur innovation and advancement in the field of biomarker-based cancer diagnostics.

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Increased patient and healthcare practitioner awareness of the value of early cancer detection, as well as increased demand for tailored therapy, are expected to propel the cancer biomarker market forward in the future decade. Diagnostic biomarkers for early diagnosis help clinicians to choose better treatment options, resulting in a faster recovery. Furthermore, increased regulatory approval of novel medications and diagnostics related to cancer biomarkers is expected to boost uptake. For example, Epigenomics AG, a firm working on a novel epigenetic biomarker test, announced in 2016 that the Chinese govt had approved Epi proColon for colorectal cancer (CRC) screening. High treatment costs and poor revenue cycle management for cancer biomarkers, on the other hand, are a factor impeding the market's growth. A cancer diagnosis is relatively expensive, with medical and non-medical expenditures for cancer diagnosis, treatment, and care accounting for the majority of the costs.

The Global Cancer Biomarker Market is categorized in terms of Biomarker-Type, Cancer Type, Profiling Technology, Application, and Geography. On the basis of Cancer Type, the market is divided into Prostate cancer, Breast cancer, Lung cancer, and others. In terms of Biomarker Type, the market is classified into Genetic Biomarkers, Protein Biomarkers, and Others. In terms of Application, the market is segregated into Diagnostics, Personalized medicine, Drug discovery and Development, and others. In terms of Profiling Technology, the market is classified into Imaging Technology, OMICS Technology, Immunoassays, Bioinformatics and Cytogenetics.

The majority of the market share was held by North America, which is expected to remain over the forecast period. This can be due to the region's greater use of cancer biomarkers. Furthermore, the region's high cancer overall incidence promotes market expansion. In addition, medical insurance in the region covers a variety of cancer biomarker testing.

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There are some major players working in cancer biomarkers market, which include AxoGen Inc. (U.S.), Baxter International (U.S.), Medtronic (US), Cyberonics Inc. (U.S.), Integra Lifesciences Corporation (U.S.), Boston Scientific (US), Abbott Laboratories (US), LivaNova (UK), Baxter (US), AxoGen (US), Stryker (US)

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