Press release
Cancer Biomarkers Market is Poised to Reach USD 34 Billion with a CAGR of 12% by 2032
Cancer Biomarkers Market
Key market participants focused their efforts on R&D to create novel and reliable biomarkers for improved diagnosis and treatment. According to the National Cancer Institute (NCI), national spending on cancer care has totaled USD 156 billion throughout history.
Collaborations between various key industry players and research institutes to discover novel cancer biomarkers for personalized treatment are also projected to fuel market expansion over the forecast period.
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Many pharmaceutical companies are making significant investments in the discovery and development of new biomarkers for cancer detection and treatment. Many potential contenders are reaching the conclusion of their development cycle and are expected to deliver a big boost to the market when they launch.
Key Takeaways from the Market Study
The European cancer biomarkers market is estimated to develop at a CAGR of over 11.6% during the forecast period.
North America is the world's largest market for cancer biomarkers, accounting for more than 40% of the total.
PSA cancer biomarker testing will account for approximately half of global market revenue.
APAC will emerge as a lucrative market, with a 12% value CAGR until 2032.
"As organizations seek to modernize Cancer Biomarkers This is helping them reduce operational costs, eliminate complexity and increase data consistency across disparate platforms," says a Fact.MR Analyst
Furthermore, the introduction of multiple assay-based techniques and novel technologies for prostate cancer screening has driven up demand for PSA testing.
The breast cancer sector had the greatest share in 2021. Factors such as a growth in the global incidence of cancer, as well as an increase in the number of different types of biomarkers, including those based on cutting-edge technology.
Competitive landscape
Cancer biomarkers operate in a highly competitive global market. The top three corporations control roughly half of the market. F. Hoffmann-La Roche Ltd. is a key player in the cancer biomarkers sector, offering a diverse variety of tumor biomarker tests. Here are some important developments:
Hoffmann-La Roche Ltd. (Switzerland) introduced the Elecsys Anti-p53 immunoassay in April 2021 to aid in the diagnosis of various cancers.
In December 2020, Thermo Fisher Scientific (US) got FDA approval for an NGS-based companion diagnostic for non-small cell lung cancer tumor tissue with the EGFR Exon20 insertion mutation.
Qiagen N.V. (Netherlands) introduced therascreen BRAF as a companion diagnostic to a BRAFTOVI (encorafenib)-based treatment in metastatic colorectal cancer in April 2020.
The cancer biomarkers market in Europe is predicted to expand significantly over the forecast period, driven by an increase in the number of occurrences of lung cancer. Lung cancer biomarkers include CYFRA 21-1, Plasma Kallikrein (KLKB1), Serum Amyloid A (SAA), Haptoglobin ฮฒ Chain (Hp ฮฒ), Complement Component 9 (C9), Endoglin (CD105), Peroxiredoxin 1 (PRX1), and Pro-gastrin-releasing Peptide (program).
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Many players are performing considerable research to identify key epigenetic alterations associated with cancer in order to create diagnostics and cancer-targeting medicines. Increased collaboration among pharmaceutical companies to develop novel treatments targeting epigenetic biomarkers is projected to boost growth in this market.
Key Segments Covered in the Cancer Biomarkers Industry Report
Cancer Biomarkers by Test Type
PSA
CTC
AFP
CA
HER2
BRCA
ALK
CEA
EFGR Mutation
KRAS Mutation
Other
Cancer Biomarkers by Illness Indication
Blood
Prostat
Ovarian
Stomach
Liver
Other
Cancer Biomarkers by Region
North America
Latin America
Europe
Asia Pacific
Middle East & Africa
๐๐๐๐ ๐๐จ๐ซ๐: https://www.factmr.com/report/4587/cancer-biomarkers-market
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global cancer biomarkers market, presenting historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of test type (PSA tests, CTC tests, AFP tests, CA tests, HER2 tests, BRCA tests, ALK Tests, CEA tests, EFGR mutation tests, KRAS mutation tests and others) and by illness indication (blood cancer, prostate cancer, ovarian cancer, stomach cancer, liver cancer and others) across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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