Lubricating The Future : Navigating The Cancer Biomarker Market Trends Forecast, 2024-2033 || F. Hoffmann-La Roche AG, Thermo Fisher Scientific Inc., QIAGEN NV, Illumina Inc

The cancer biomarker market size has grown rapidly in recent years. It will grow from $19.74 billion in 2023 to $22.77 billion in 2024 at a compound annual growth rate (CAGR) of 15.4%. The growth in the historic period can be attributed to shift to personalized medicine, immunotherapy innovations, regulatory framework evolution, collaborative research efforts, focus on non-coding rnas.

The cancer biomarker market size is expected to see rapid growth in the next few years. It will grow to $40.66 billion in 2028 at a compound annual growth rate (CAGR) of 15.6%. The growth in the forecast period can be attributed to shift to patient-centric diagnostics, integration of biomarkers in clinical trials, emergence of multiplex biomarker panels, exploration of non-coding rnas, commercialization of biomarker tests. Major trends in the forecast period include advancements in genomics, precision medicine approaches, liquid biopsies, immunotherapy advancements, artificial intelligence (ai) integration.

Market Overview -
A cancer biomarker refers to a biological molecule present in the blood, tissues, or other bodily fluids, that indicates the presence of normal or abnormal activity, as well as a condition or disease. Cancer biomarkers are used to characterize alterations in the tumor.

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The Surging Incidence Of Cancer Fueling Growth In The Cancer Biomarker Market
The rising incidence of cancer is driving the growth of the cancer biomarker market. The cancer incidence rate is the number of new cancers of a specific site/type that occur in a given population during a given year, represented as cancers per 100,000 people at risk. The increasing incidence of cancer is leading to the widespread use of cancer biomarkers because it helps in assessing disease risk, screening for occult primary tumors, identifying benign from malignant signs, or separating one form of malignancy from another. For instance, in January 2022, according to research published by the American Cancer Society, a US-based health organization, in the US, 609,360 cancer deaths and 1.9 million new cancer cases are anticipated in 2022. It is about 1,670 fatalities each day. Therefore, the rising incidence of cancer packaging is expected to propel the growth of the cancer biomarker market in the coming years.

Competitive Landscape -
Major companies operating in the cancer biomarker market report are F. Hoffmann-La Roche AG, Thermo Fisher Scientific Inc., QIAGEN NV, Illumina Inc., Bio-Rad Laboratories Inc., Abbott Laboratories, bioMérieux SA, Becton Dickinson and Company, Merck & Co. Inc., Bristol-Myers Squibb Company, PerkinElmer Inc., Siemens AG, Exact Sciences Corporation, Novartis AG, Agilent Technologies Inc., Hologic Inc., Myriad Genetics Inc., Foundation Medicine Inc., Guardant Health Inc., Natera Inc., Sysmex Corporation, Biocartis Group NV, NanoString Technologies Inc., Veracyte Inc., Epic Sciences Inc., Cynvenio Biosystems Inc., Genomic Health Inc., Oncocyte Corporation, Exosome Diagnostics Inc., Grail Inc.

The Role Of Technological Advancements In Advancing Biomarker Detection And Analysis
Technological advancement is a key trend gaining popularity in the cancer biomarker market. Major market players are developing advanced technologies, such as artificial intelligence (AI), deep learning (DL), and machine learning (ML), to sustain their position in the cancer biomarker market. These techniques are being used to tackle the problems associated with finding cancer biomarkers, where processing enormous volumes of molecular and imaging data are beyond the capabilities of conventional statistical studies and tools. For instance, in December 2021, F. Hoffmann-La Roche AG, a Switzerland-based pharmaceuticals and diagnostics company introduced uPath Ki-67 (30-9), uPath ER (SP1), and uPath PR (1E2), three new automated digital pathology algorithms that will be used as a biomarker for image analysis for breast cancer. This image analysis for breast cancer uses pathologist-trained deep learning algorithms to speed up the estimation of Ki-67, ER, and PR tumor cell nuclei positive.

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Key Segments -

The cancer biomarker market covered in this report is segmented -

1) By Biomarkers Type: Protein Biomarkers, Genetic Biomarkers, Other Cancer Biomarkers
2) By Profiling Technologies: Omics Technologies, Imaging Technologies, Immunoassay, Bioinformatics, Cytogenetics
3) By Cancer Type: Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Thyroid Cancer, Kidney Cancer, Other Cancers
4) By Application: Diagnostics, Research And Development, Prognostics, Risk Assessment, Other Applications

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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