Press release
The Surging Incidence Of Cancer Fueling Growth In The Cancer Biomarker Market Driving Market Acceleration in the Cancer Biomarker Industry, 2025
Cancer Biomarker
How Large Will the Cancer Biomarker Market Size By 2025?
In recent times, the cancer biomarker market size has seen substantial growth. The projections indicate that it will increase from $22.19 billion in 2024 to $25.28 billion in 2025, signifying a compound annual growth rate (CAGR) of 13.9%. The past growth can be credited to the move towards personalized medicine, advancements in immunotherapy, evolution in regulatory frameworks, combined research initiatives, and emphasis on non-coding RNAs.
How Big Is the Cancer Biomarker Market Size Expected to Grow by 2029?
The size of the cancer biomarker market is predicted to experience a significant upswing in the following years, potentially reaching $45.88 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 16.1%. Factors contributing to the growth during the projection period include a movement towards patient-oriented diagnostics, the inclusion of biomarkers in clinical trials, the development of multiplex biomarker panels, the study of non-coding RNAs, and the commercialization of biomarker examinations. Trends that will dominate the forecast period encompass advancements in genomics, precision medicine strategies, liquid biopsies, progress in immunotherapy, and the incorporation of artificial intelligence (AI).
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Which Key Market Drivers Powering Cancer Biomarker Market Expansion and Growth?
The increased occurrence of cancer is propelling the expansion of the cancer biomarker market. The rate of incidence refers to the number of new specific site/type cancers occurring in a specified population within a given year, illustrated as cancers per 100,000 individuals at risk. This escalation in cancer incidence is prompting a broader utilization of cancer biomarkers due to their ability to estimate disease risk, screen for non-apparent primary tumors, distinguish between benign and malignant signs, or differentiate one type of malignancy from another. As an example, research released by the American Cancer Society, a health organization based in the US, in January 2022 indicated that around 609,360 cancer-related deaths and 1.9 million new cancer cases are predicted in 2022. This amounts to roughly about 1,670 deaths every day. As such, the escalated incidence of cancer is likely to fuel the growth of the cancer biomarker market in the forthcoming years.
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Which Fast-Growing Trends Are Poised to Disrupt the Cancer Biomarker Market?
Major players in the cancer biomarker market are concentrating on the invention of novel solutions like AI-powered cancer biomarkers for improving diagnostic precision and customizing patient treatment strategies. AI-powered cancer biomarkers are biological indicators of cancer that are unearthed and evaluated using artificial intelligence technology. In a notable example from September 2023, Ibex Medical Analytics, a firm based in the US, introduced Galen Breast HER2, an AI-driven solution specifically developed to bolster the preciseness and repeatability of HER2 scoring in those suffering from breast cancer. This revolutionary platform supports pathologists by autonomously identifying invasive tumor sectors and quantifying HER2 expression in adherence with the 2018 ASCO/CAP guidelines. The Galen Breast HER2 model incorporates a unique computational sequence for examining immunohistochemistry (IHC)-stained slides and furnishes comprehensive visuals of staining patterns, thus empowering pathologists to make educated treatment judgments.
What Are the Emerging Segments in 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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Who Are the Global Leaders in the Cancer Biomarker Market?
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.
Which are the Top Profitable Regional Markets for the Cancer Biomarker Industry?
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.
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