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Cancer Biomarker Market Grows at 4.7 Percent CAGR with Rising Demand for Early Detection and Non-Invasive Diagnostics
Cancer Biomarker Market
According to the latest research by InsightAce Analytic, the Global Cancer Biomarker Market is valued at US$ 27.3 Bn in 2023, and it is expected to reach US$ 38.9 Bn by 2031, with a CAGR of 4.7% during the forecast period of 2024-2031.
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Cancer biomarkers represent a broad spectrum of biological molecules, including genes, proteins, and other indicators, that offer valuable insights into the onset, progression, and behavior of cancer. These biomarkers are instrumental in enhancing the understanding of cancer pathophysiology and play a pivotal role in facilitating early diagnosis, prognostic assessments, and the formulation of targeted treatment strategies. Their integration into precision medicine is transforming oncology by enabling highly individualized therapeutic approaches.
The global cancer biomarker market is experiencing significant growth, driven by technological advancements in diagnostics and the increasing incidence of cancer worldwide. A heightened emphasis on early detection and real-time disease monitoring is further accelerating market expansion. Key contributing factors include growing investment in research and development, increased adoption of personalized medicine, and a rising demand for non-invasive diagnostic methods.
Moreover, the expanding use of companion diagnostics and targeted therapies is strengthening the market's trajectory. Nevertheless, the sector faces several challenges, including high development and validation costs, stringent regulatory approval processes, and the inherent complexity of cancer biology. Despite these obstacles, sustained innovation, strategic industry partnerships, and ongoing scientific research are expected to support the continued advancement and long-term growth of the cancer biomarker market.
List of Prominent Players in the Cancer Biomarker Market:
• Agilent
• ARUP Laboratories
• BioReference
• Foundation Medicine
• OncoDNA
• Q2 Solutions
• Thermo Fisher Scientific
• YuceBio
• Asper Biogene
• Caris Life Sciences
• CeGaT
• Genekor Medical
• Guardant Health
• Labcorp
• MedGenome
• NeoGenomics Laboratories
• Nonacus
• Oxford Gene Technology
• Personal Genome Diagnostics
• PhenoPath
• Positive Biosciences
• Quest Diagnostics
• Tempus
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Market Dynamics
Drivers:
The cancer biomarker market is witnessing strong growth, largely fueled by the expansion of research and development (R&D) initiatives. Ongoing investigations aimed at identifying biomarkers associated with treatment resistance-particularly through genomic analysis-are improving the ability to predict therapeutic outcomes and assess post-radiation prognoses. The increasing global burden of cancer, combined with heightened research activity, is a significant catalyst for market expansion. Furthermore, strategic product innovations and pipeline developments by leading industry stakeholders are accelerating market advancement. The rising focus on precision oncology has led to the development of advanced biomarker-based diagnostic tools, as healthcare systems increasingly adopt personalized medicine approaches to enhance cancer detection and treatment outcomes.
Challenges:
Despite the rising demand for early cancer detection and biomarker-based diagnostics, the absence of consistent and comprehensive reimbursement frameworks in certain developed countries poses a major barrier to market adoption. Additionally, the high costs associated with cancer diagnostics and therapeutic interventions-particularly in emerging markets-limit patient access and present financial constraints to widespread deployment of biomarker technologies.
Regional Trends:
North America is expected to retain its dominant position in the cancer biomarker market, supported by a high prevalence of chronic illnesses, rapid technological advancement, and a well-established healthcare infrastructure. Substantial investments in medical research and development further bolster the region's market leadership. Meanwhile, the Asia-Pacific region is anticipated to demonstrate significant growth, driven by strategic market entry initiatives from key global players and increasing regional healthcare investment. The expanding presence of prominent companies within Asia-Pacific presents strong opportunities for continued growth in the global cancer biomarker industry.
Recent Developments
• In November 2023, Agilent received FDA approval for PD-L1 IHC 22C3 pharmDx in gastric or gastroesophageal junction (GEJ) adenocarcinoma.
• In December 2022, QIAGEN received FDA approval for a companion diagnostic to Mirati Therapeutics' KRAZATI in non-small cell lung cancer.
• In November 2022, Biocare Medical, a leading provider of innovative, automated immunohistochemistry (IHC) and FISH (Fluorescent in situ hybridization) instrumentation and reagents, acquired Empire Genomics, a market leader in molecular biomarkers to aid in cancer research and diagnostics.
• In May 2022, Illumina introduced a new pan-cancer companion diagnostic to match patients with rare genetic mutations to targeted therapy.
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Segmentation of Cancer Biomarker Market-
Cancer Biomarker Market- By Type of Biomarkers
• HER2
• MET
• EGFR
• PD-L1
• NTRK
• ALK
• Novel Biomarkers
• Other Biomarkers
Cancer Biomarker Market- By Type of Cancer
• Breast Cancer
• Prostate Cancer
• Lung Cancer
• Thyroid Cancer
• Bladder Cancer
• Melanoma
• Non-Hodgkins Lymphoma
• Endometrial Cancer
• Kidney Cancer
• Leukemia
• Others
Cancer Biomarker Market- By Region
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
Read Overview Report- https://www.insightaceanalytic.com/report/cancer-biomarker-market/2563
About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
Contact us:
InsightAce Analytic Pvt. Ltd.
Visit: www.insightaceanalytic.com
Tel : +1 607 400-7072
Asia: +91 79 72967118
info@insightaceanalytic.com
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