Press release
Cancer Biomarker Market Expands with Increasing Focus on Early Detection and Precision Oncology Solutions
Cancer Biomarker Market
According to the latest research by InsightAce Analytic, the Global Cancer Biomarker Market is valued at USD 28.5 Bn in 2024, and it is expected to reach USD 44.5 Bn by 2034, with a CAGR of 4.7% during the forecast period of 2025-2034.
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Cancer biomarkers encompass a diverse spectrum of biological indicators-such as genes, proteins, and metabolites-that provide essential insights into the onset, progression, and molecular characteristics of cancer. These biomarkers are fundamental to advancing the understanding of tumor biology and serve as key tools for early detection, prognosis, and the development of targeted therapeutic strategies. Their growing integration into precision medicine is transforming oncology by enabling highly individualized and effective treatment approaches.
The global cancer biomarkers market is experiencing robust growth, driven by continuous technological advancements in diagnostic methodologies and the rising global burden of cancer. The increasing emphasis on early detection, disease monitoring, and personalized care is further accelerating market expansion. Additional factors contributing to this growth include heightened research and development investments, expanding adoption of precision medicine, and growing demand for non-invasive diagnostic techniques.
Moreover, the growing implementation of companion diagnostics and targeted therapies continues to strengthen market development by improving treatment precision and clinical outcomes. Nonetheless, the market faces notable challenges, including high costs associated with biomarker discovery, validation, and clinical translation, as well as stringent regulatory requirements and the inherent complexity of cancer pathophysiology. Despite these challenges, ongoing innovation, strategic collaborations among biotechnology and pharmaceutical companies, and advancements in molecular diagnostics are expected to drive the sustained evolution and long-term expansion of the cancer biomarkers 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 global cancer biomarker market is experiencing significant growth, primarily driven by the expansion of research and development (R&D) initiatives aimed at identifying biomarkers associated with treatment resistance and therapeutic response prediction. Advancements in genomic profiling are enabling more accurate assessment of patient outcomes, including post-radiation prognoses.
The rising global prevalence of cancer, combined with intensified scientific exploration, continues to propel market growth. Furthermore, ongoing product innovation and the development of advanced biomarker pipelines by leading industry players are accelerating market progression. The growing focus on precision oncology has further catalyzed the adoption of biomarker-based diagnostic tools, as healthcare systems worldwide increasingly integrate personalized medicine to enhance diagnostic accuracy and therapeutic effectiveness.
Challenges:
Despite the growing demand for early cancer detection and precision diagnostics, the absence of standardized reimbursement frameworks in several developed economies remains a major constraint on market expansion. Additionally, the high costs associated with biomarker testing, diagnostic imaging, and targeted therapies-particularly within emerging markets-pose affordability challenges for patients and limit widespread adoption. These economic and policy-related barriers continue to impede the market's full potential.
Regional Trends:
North America is anticipated to retain its dominant position in the global cancer biomarker market, supported by a high prevalence of chronic diseases, robust technological advancements, and a well-established healthcare infrastructure. Strong investment in clinical and translational research further reinforces the region's leadership.
In contrast, the Asia-Pacific region is projected to register substantial growth over the forecast period, driven by rising healthcare expenditures, government support for oncology research, and strategic market expansion by global industry participants. The increasing presence of major biotechnology and diagnostic companies in this region is expected to create significant opportunities, positioning Asia-Pacific as a key growth frontier in the global cancer biomarker market.
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: https://www.insightaceanalytic.com/
Tel : +1 607 400-7072
Asia: +91 79 72967118
info@insightaceanalytic.com
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