Cancer Biomarkers Market is expected to reach USD 32.5 billion by 2031 | bioMérieux SA, Enzo Biochem Inc, Merck Millipore, Micron Technology, Illumina, Inc., Bio-Rad Laboratories

The global cancer biomarker market was valued at USD 13.2 billion in 2022 and is projected to grow significantly, reaching approximately USD 32.5 billion by 2031. This market is anticipated to expand at a compound annual growth rate (CAGR) of 12.3% over the forecast period from 2024 to 2031.

The Cancer Biomarkers Market report by DataM Intelligence provides comprehensive insights and analysis on key market trends, growth opportunities, and emerging challenges. With a commitment to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. By combining qualitative and quantitative research methodologies, the firm delivers in-depth reports that help clients navigate complex market dynamics, drive strategic growth, and seize new opportunities in an ever-evolving global landscape.

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Cancer Biomarkers Market Overview:

The cancer biomarker market is currently experiencing a transformative phase, shaped by key developments such as the rise of liquid biopsy techniques, growing utilization of genomic and immuno-oncology biomarkers, and the integration of artificial intelligence (AI) in diagnostics.

This growth is further driven by factors including the rising incidence of cancer, a global shift toward personalized medicine, continuous technological progress in biomarker research, increased emphasis on early diagnosis, and the expanding use of targeted therapies. These advancements are fueling strong market demand, particularly in North America, where major industry players like F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc., QIAGEN N.V., and others maintain a prominent presence.

Cancer Biomarkers Market: Shifting Industry Trends

Rise in Strategic Developments to Propel Cancer Biomarker Market Growth

The cancer biomarker market is poised for accelerated expansion, largely driven by a surge in strategic initiatives such as mergers and acquisitions, partnerships, product launches, and collaborative research efforts. Key stakeholders, including pharmaceutical companies, biotech firms, and diagnostic labs, are actively pursuing these strategies to strengthen their market presence, foster innovation, and enhance competitiveness within the cancer diagnostics landscape.

For example, in March 2022, Vela Diagnostics introduced advanced next-generation sequencing (NGS) panels designed to detect both RNA and DNA cancer biomarkers in formalin-fixed paraffin-embedded (FFPE) tissue samples. These panels-namely the OncoKey SL 60 Plus Panel and the more comprehensive OncoKey SL 525 Plus Panel-offer a unified solution for pan-cancer testing. They are capable of identifying insertions/deletions (INDELs), copy number variations (CNVs), single nucleotide variations (SNVs), fusions, splice variants, microsatellite instability (MSI), as well as oncogenic viruses and bacteria.

Such advancements and the growing number of product approvals in this domain are expected to significantly boost global demand for cancer biomarkers in the coming years.

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Strategic Key Players Driving the Cancer Biomarkers Market Forward: F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific, Inc., QIAGEN N.V., Illumina, Inc., Bio-Rad Laboratories, Inc., Abbott Laboratories, bioMérieux SA, Enzo Biochem, Inc., Merck Millipore, Micron Technology.

Research Methodology:

The global Cancer Biomarkers Market research report employs a comprehensive dual-source approach, integrating both primary and secondary data collection methods to ensure robust market analysis. Our research framework systematically evaluates multiple industry-influencing variables, including regulatory frameworks and government policies, prevailing market conditions, competitive intensity levels, historical performance data, current market positioning, technological innovations and disruptions, emerging industry developments, cross-sector business impacts, market volatility patterns, growth prospects, potential market barriers, and strategic challenges facing industry participants.

Segment Covered in the Cancer Biomarkers Market:

By Cancer Indication (Sarcoma, Colorectal Cancer, Cervical Cancer, Lung Cancer, Breast Cancer)

By Biomarker Type (Protein Biomarkers, Genetic Biomarkers, Others)

By Profiling Technology (Omics Technologies, Cytogenetics, Immunoassays, Imaging Technologies, Bioinformatics)

By Application (Drug Discovery And Development, Disease Screening and Diagnosis, Treatment Planning & Risk Assessment, Others)

By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

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Recent Developments in the Cancer Biomarker Market:

The cancer biomarker sector continues to evolve rapidly, with key developments highlighting increased collaboration, investment, and innovation aimed at enhancing diagnostic precision and treatment personalization. Some notable recent activities include:

✅ April 25, 2023 - Guardant Health, Inc. and the Parker Institute for Cancer Immunotherapy (PICI) entered into a research collaboration to investigate the link between molecular cancer biomarkers and patient responses to immunotherapy across over 14 different cancer types. This partnership aims to advance understanding in precision oncology and improve outcomes for patients receiving immunotherapy treatments.

✅ November 24, 2022 - OncoDNA partnered with Eli Lilly Italia to improve access to biomarker testing for thyroid cancer patients in Italy. This collaboration supports the integration of precision medicine by helping clinicians identify optimal, personalized treatment strategies based on molecular profiling.

✅ April 2, 2023 - Oxford Cancer Biomarkers Ltd (OCB), known for its AI-based precision diagnostics, successfully closed a funding round led by Plutus Investment Group LLP. The round attracted several prominent investors, including Esperante Ventures, Longwall Ventures, Panacea Innovation, and entrepreneur Mr. BK Lee. The funding will support the further development and commercialization of OCB's AI-driven cancer diagnostic solutions.

Regional Analysis for Cancer Biomarkers Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Most Frequently Asked Questions in the Cancer Biomarkers Market Research Industry:

➠ Who leads the Cancer Biomarkers industry and what's their competitive positioning regarding capacity, performance, and profitability?

➠ What growth opportunities and market challenges do Cancer Biomarkers market vendors face?

➠ Which segments show the highest growth potential and market share distribution?

➠ What factors are driving or limiting Cancer Biomarkers market growth?

➠ What are the dominant sales and distribution strategies in the Cancer Biomarkers industry?

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