Press release
Cancer Biomarkers Market Growth Focusing on Trends & Innovations During the Period Until 2031
Cancer Biomarkers Market Outlook 2031-The global cancer biomarkers market was valued at US$ 12.6 Bn in 2021
-The market is projected to advance at a CAGR of 9.9% from 2022 to 2031
-The global cancer biomarkers market is anticipated to reach more than US$ 31.4 Bn by 2031
Cancer Biomarkers Market Introduction
Biomarker, or biological marker, is a measurable indicator of some biological state or condition. Cancer biomarkers are biomolecules that can be used to determine the cancer in the body. According to the World Health Organization, cancer is a leading cause of death worldwide; it accounted for nearly 10 million deaths or nearly one in six deaths in 2020. Lung, breast, colon, and prostate cancers are some of the common cancers.
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According to a study published in the Journal of Ovarian Research, ovarian cancer is currently the fifth leading cause of death for women with cancer globally. More than 70% of cases of this cancer are diagnosed at an advanced stage. The human epididymis protein 4 biomarker test (HE4 test) is considered to be the most effective and reliable test for the detection of ovarian and endometrial cancers.
Increase in Cancer Cases Worldwide to Drive Demand for Cancer Biomarkers
Wide prevalence of cancer is a key driver of the global cancer biomarkers market. According to a World Health Organization report, cancer is the major reason for deaths around the globe after heart issues. Cancer cases are surging due to the increase in trend of smoking, rise in pollution levels, and poor dietary habits. Around 235,760 lung cancer cases were reported in the U.S. in 2021.
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Furthermore, more than 130,000 people lose their lives every year due to lung cancer in the U.S. Lung cancer cases have been rising in other parts of the world as well, with percentage of people smoking reaching around 19% globally. Around one-third of deaths from cancer are linked to tobacco usage, high body mass index, alcohol consumption, low fruit and vegetable intake, and lack of physical activity. Cancer-causing infections, such as human papillomavirus (HPV) and hepatitis, are responsible for approximately 30% of cancer cases in low- and lower-middle-income countries.
Potential Pipeline Candidates to Offer Lucrative Opportunities to Market Vendors
Many pharmaceutical companies are actively investing in the research and development of novel biomarkers for cancer diagnosis and treatment. Various potential candidates are nearing the end of their development. This is expected to significantly boost the market. According to the National Library of Medicine, approximately 1,515 cancer biomarkers are in clinical trials. For instance, Lund University Hospital, in collaboration with the South Sweden Breast Cancer Group, is conducting clinical trials to compare the efficacy and tolerability of atorvastatin (in phase 2). Introduction of new biomarkers for cancer screening and diagnosis is expected to propel the oncology biomarkers market growth. Additionally, increase in product launches and diagnostics pertaining to cancer biomarkers is estimated to drive the market. For instance, in April 2021, F. Hoffmann-La Roche Ltd. (Switzerland) launched Elecsys Anti-p53 immunoassay to aid the diagnosis of various types of cancers.
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Increase in Adoption of Protein Biomarkers for Accurate Diagnosis of Cancer
In terms of type, the global cancer biomarkers market has been classified into protein, genetic, and others. The protein segment held major share of the global market in 2021. The segment is expected to maintain its leading position in the global cancer biomarkers market during the forecast period. This can be ascribed to the increase in usage of protein biomarkers in research in cancer treatment. Protein biomarkers are considered the most common biomarkers used for the accurate detection of various types of cancers.
Rise in Incidence of Breast Cancer Across Globe
Based on type of cancer, the global cancer biomarkers market has been segmented into lung, breast, leukemia, melanoma, colorectal, prostate, ovarian, liver, and others. The breast cancer segment is projected to dominate the global market during the forecast period. Biomarkers are extensively used to detect breast cancer in patients. Increase in number of patients suffering from breast cancer across the globe is expected to drive the segment during the forecast period. According to the World Health Organization, breast cancer was the most common cancer across the globe in 2021, accounting for 12% of all new annual cancer cases worldwide.
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High Efficiency of Omics Technology in Early Diagnosis of Cancer
In terms of profiling technology, the global cancer biomarkers market has been classified into omics, imaging, immunoassay, bioinformatics, and others. The omics segment held dominant share of the market in 2021. The segment is expected to grow at a faster pace during the forecast period. Omics technology is highly efficient in the early diagnosis of cancer. Additionally, novel development in profiling technologies for cancer biomarkers is expected to drive the cancer biomarker market size during the forecast period.
Regional Outlook of Global Cancer Biomarkers Market
North America dominated the global cancer biomarkers market, with more than 30% share in 2021. It is expected to hold major share of the global cancer biomarkers market during the forecast period. High patient population with cancer in the U.S. and Canada and increase in research and development activities in various types of cancer biomarkers are expected to drive the cancer biomarkers market in the region.
Europe is also expected to be a highly attractive region of the global cancer biomarkers market during the forecast period. Increase in prevalence and incidence of cancer in the region is likely to drive the market during the forecast period.
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The cancer biomarkers market in Asia Pacific is also anticipated to grow significantly during the forecast period. This can be ascribed to the rise in disposable income, rapid urbanization, increase in health care infrastructure, and distribution and partnership strategies adopted by the players in the region.
Analysis of Key Players in Global Cancer Biomarkers Market
The global cancer biomarkers market is consolidated, with the top players accounting for major share. Players are focusing on adopting strategies such as acquisition & collaboration, geographic expansion, growth of distribution channels, and R&D to enhance their share in the global cancer biomarkers market. Key players operating in the global cancer biomarkers market are F. Hoffmann-La Roche Ltd., Abbott Laboratories, Merck & Co, Inc., Thermo Fisher Scientific, Inc., Bristol-Myers Squibb Company, PerkinElmer, Inc., Qiagen N.V., Siemens AG, Exact Sciences Corporation, Novartis AG, Bio-Rad Laboratories, Illumina, Agilent Technologies Inc., Hologic, Inc., and bioMérieux SA.
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