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Cancer Biomarkers Market: Advancements in Precision Medicine and Personalized Treatment Driving Growth | CAGR of 11.8% from 2020 to 2027
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Cancer biomarkers are measurable indicators that are used to diagnose, monitor, and predict the progression of cancer. These biomarkers can be proteins, genetic mutations, RNA molecules, or other molecules that are present in the blood, urine, or tissues of cancer patients.
There are several types of cancer biomarkers:
Diagnostic biomarkers: These biomarkers are used to detect the presence of cancer in an individual. For example, the prostate-specific antigen (PSA) is a diagnostic biomarker for prostate cancer.
Prognostic biomarkers: These biomarkers are used to predict the likely outcome of the disease, such as the probability of recurrence or metastasis. For example, the HER2/neu gene expression level is a prognostic biomarker for breast cancer.
Predictive biomarkers: These biomarkers are used to predict how an individual will respond to a particular treatment. For example, the presence of a mutation in the epidermal growth factor receptor (EGFR) gene is a predictive biomarker for response to certain targeted therapies in lung cancer.
Monitoring biomarkers: These biomarkers are used to monitor the progression of cancer and the response to treatment. For example, the level of carcinoembryonic antigen (CEA) in the blood is a monitoring biomarker for colorectal cancer.
Cancer biomarkers have the potential to revolutionize cancer diagnosis and treatment by enabling earlier detection, more accurate diagnosis, and personalized treatment plans. However, not all cancers have specific biomarkers, and some biomarkers may not be specific to cancer, which can lead to false positives or false negatives. Therefore, it is important to use biomarkers in conjunction with other diagnostic and clinical tools to make informed decisions about cancer diagnosis and treatment.
The growth of the global cancer biomarkers market is due to surge in adoption of cancer biomarkers primarily for prognostics and diagnostics applications across the globe.
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The cancer biomarkers market can be segmented based on several factors such as:
Type of biomarker: The market can be segmented based on the type of biomarker such as protein biomarkers, genetic biomarkers, epigenetic biomarkers, and others.
Application: The market can be segmented based on the application of the biomarkers such as diagnosis, prognosis, and treatment monitoring.
Cancer type: The market can be segmented based on the type of cancer such as breast cancer, lung cancer, colorectal cancer, prostate cancer, and others.
End-user: The market can be segmented based on end-users such as hospitals, diagnostic laboratories, research institutes, and others.
Region: The market can be segmented based on the geography such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
These segments can help companies to understand the needs and preferences of different customer groups and develop targeted marketing strategies. For example, companies can focus on developing biomarkers specific to a certain cancer type or target a particular end-user group such as hospitals or diagnostic laboratories.
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.
Frontrunners in the industry-
Bio-Rad Laboratories, Inc.
Thermo Fisher Scientific, Inc.
Bristol-Myers Squibb Company
Exact Sciences Corporation
F.Hoffmann-La Roche Ltd.
Abbott Laboratories
Qiagen N.V.
Merck KGaA
PerkinElmer, Inc.
Siemens AG
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