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Emerging Trends Influencing The Growth Of The Cancer Biomarker Market:Advancements In AI-Powered Cancer Biomarkers: Enhancing Diagnosis And Treatment Precision
Cancer Biomarker
How Big Is the Cancer Biomarker Market Size Expected to Be by 2034?
The size of the cancer biomarker market has seen swift expansion in the past few years. The market, estimated at $22.19 billion in 2024, is projected to reach $25.28 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 13.9%. Factors contributing to the development during the historic period include the move towards personalized medicine, advancements in immunotherapy, changes in regulatory structure, collaboration in research undertakings, and an increased focus on non-coding RNAs.
In the forthcoming years, the cancer biomarker market is predicted to experience substantial growth, surging to $45.88 billion in 2029 with a compound annual growth rate (CAGR) of 16.1%. This growth during the forecast period is anticipated to be driven by factors such as the shift towards patient-centric diagnostics, the incorporation of biomarkers in clinical trials, the advent of multiplex biomarker panels, the study of non-coding RNAs, and the commercialization of biomarker tests. Future trends within the forecast span are predicted to comprise advancements in genomics, precision medicine strategies, liquid biopsies, improvements in immunotherapy, and the integration of artificial intelligence (AI).
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What Are the Emerging Segments Within the Cancer Biomarker Market?
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
Subsegments:
1) By Protein Biomarkers: Tumor-Specific Antigens, Circulating Tumor Protein
2) By Genetic Biomarkers: DNA Mutations, RNA Expression Profiles
3) By Other Cancer Biomarkers: Epigenetic Biomarkers, Metabolomic Biomarkers
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What Long-Term Drivers Are Shaping Cancer Biomarker Market Trends?
The cancer biomarker market is experiencing growth due to the escalating prevalence of cancer. The cancer incidence rate, representing the number of new specific types of cancers that occur in a specific group during a specific year, expressed as number of cancers per 100,000 people at risk, is on the rise. This increase in cancer incidence is promoting the extensive use of cancer biomarkers, which assist in determining disease risk, screening for concealed primary tumors, distinguishing between benign and malignant indications, or differentiating one type of cancer from another. For example, research published by the American Cancer Society, a US-based health organization, in January 2022 indicated that approximately 609,360 cancer deaths and 1.9 million new cancer cases are expected in the US in 2022, translating to approximately 1,670 fatalities daily. Thus, the escalating prevalence of cancer is predicted to further accelerate the growth of the cancer biomarker market in the future years.
Who Are the Top Competitors in Key Cancer Biomarker Market Segments?
Major companies operating in the cancer biomarker market 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.
What Cancer Biomarker Market Trends Are Gaining Traction Across Different Segments?
Leading firms in the cancer biomarker industry are focusing on the creation of ground-breaking solutions like AI-enabled cancer biomarkers in order to improve diagnostic precision and tailor treatment plans to individual patients. AI-enabled cancer biomarkers are biological signs of cancer that are pinpointed and examined using artificial intelligence technologies. A prime example being the launch of Galen Breast HER2 by Ibex Medical Analytics, a United States-based firm, in September 2023. This cutting-edge platform serves as an aid to pathologists by automatically identifying invasive tumor zones and quantifying HER2 expressions in accordance with the 2018 ASCO/CAP guidelines. The system of Galen Breast HER2 uses an innovative computational process to analyze slides stained with immunohistochemistry (IHC), offering comprehensive visual presentations of staining patterns and facilitating pathologists in making informed treatment choices.
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Which Regions Are Becoming Hubs for Cancer Biomarker Market Innovation?
North America was the largest region in the cancer biomaker market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cancer biomarker market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Cancer Biomarker Market?
2. What is the CAGR expected in the Cancer Biomarker Market?
3. What Are the Key Innovations Transforming the Cancer Biomarker Industry?
4. Which Region Is Leading the Cancer Biomarker Market?
Why This Report Matters:
Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.
Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.
Efficient Research: Quickly identify market growth, leading players, and major segments.
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