Press release
Cancer Biomarker Market Landscape to 2034: Key Forces Shaping the Next Decade of Growth
Cancer Biomarker
How Large Will the Cancer Biomarker Market Size By 2025?
In recent times, we have seen substantial growth in the cancer biomarker market size. This market is projected to increase from $22.19 billion in 2024 to a significant $25.09 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 13.1%. Factors contributing to the growth during this historic period include a transition toward personalized medicine, advancements in immunotherapy, changes in regulatory frameworks, collaborations in research, and an emphasis on non-coding RNAs.
How Big Is the Cancer Biomarker Market Size Expected to Grow by 2029?
Forecasted to experience a swift expansion in the coming years, the cancer biomarker market is projected to reach a value of $45.33 billion in 2029, escalating at a compound annual growth rate (CAGR) of 15.9%. Factors driving this growth in the predicted period include the move towards patient-focused diagnostics, the incorporation of biomarkers in clinical studies, the development of multiplex biomarker panels, the study of non-coding RNAs, and the commercial introduction of biomarker tests. Key trends for the period being forecasted encompass advancements in genomics, precision medical methodologies, liquid biopsy techniques, immunotherapy progress, and the integration of artificial intelligence (AI).
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Which Key Market Drivers Powering Cancer Biomarker Market Expansion and Growth?
The cancer biomarker market is expanding due to the escalating number of cancer cases. The rate of cancer incidence, which is gauged by the number of new cancer cases of a distinct type or location happening in a particular population in a specified year, is demonstrated as cancers per 100,000 at-risk individuals. The surge in cancer cases is resulting in the extensive application of cancer biomarkers, as these aid in evaluating disease susceptibility, screening for hidden primary tumors, differentiating between benign and malignant indications, and distinguishing various forms of malignancy. For example, a research study conducted by the American Cancer Society, a health organization based in the US, revealed that in January 2022, an estimated 1.9 million fresh cancer cases and 609,360 cancer-related deaths are expected in the US in 2022, which equals around 1,670 deaths each day. Thus, the accelerated rate of cancer incidence promises to boost the expansion of the cancer biomarker market in the future years.
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What Are the Key Trends Driving Cancer Biomarker Market Growth?
Top firms in the cancer biomarker market are prioritizing the development of novel solutions like AI-infused cancer biomarkers to improve diagnostic precision and customize treatment protocols for patients. The term AI-operated cancer biomarkers applies to biological signs of cancer detected and assessed through Artificial Intelligence technologies. As an illustration, Ibex Medical Analytics, a company based in the United States, rolled out the Galen Breast HER2 in September 2023. This AI-integrated solution is developed to boost the precision and consistency of HER2 scoring in breast cancer patients. This pioneering platform supports pathologists by automatically identifying invasive tumors and calculating HER2 expression following the 2018 ASCO/CAP guidelines. The Galen Breast HER2 system employs a unique computational process to examine immunohistochemistry (IHC)-stained slides, called IHC-stained slides, supplying comprehensive visual representations of staining models and facilitating pathologists in making knowledgeable treatment choices.
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 dic*kinson 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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