Press release
Cancer Biomarker Market Expansion Fueled by Advances in Genomic Profiling and Targeted Therapeutics
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 represent a broad array of biological indicators, including genes, proteins, and metabolites, that provide critical insights into cancer onset, progression, and molecular characteristics. These biomarkers are pivotal in advancing the understanding of tumor biology and play an essential role in early detection, prognosis, and the development of targeted therapeutic interventions. Their integration into precision medicine is transforming oncology by enabling highly individualized and effective treatment strategies.
The global cancer biomarkers market is witnessing significant growth, driven by continuous technological advancements in diagnostic methodologies and the rising global incidence of cancer. Increasing emphasis on early detection, disease monitoring, and personalized patient care is further propelling market expansion. Additional growth factors include heightened research and development investments, widespread adoption of precision medicine approaches, and growing demand for non-invasive diagnostic solutions.
Furthermore, the implementation of companion diagnostics and targeted therapies is enhancing treatment accuracy and clinical outcomes, thereby supporting market development. However, the market faces several 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 constraints, ongoing innovation, strategic partnerships between biotechnology and pharmaceutical companies, and advancements in molecular diagnostics are expected to sustain long-term market growth and evolution.
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 robust growth, primarily fueled by expanding research and development initiatives focused on identifying biomarkers linked to treatment resistance and predicting therapeutic response. Advances in genomic profiling are enabling more precise assessments of patient outcomes, including post-treatment prognoses, thereby enhancing clinical decision-making. The increasing global incidence of cancer, coupled with intensified scientific exploration, continues to drive market expansion.
Additionally, ongoing product innovation and the development of sophisticated biomarker pipelines by leading industry players are accelerating market progression. The growing emphasis on precision oncology has further promoted the adoption of biomarker-based diagnostic tools, as healthcare systems worldwide integrate personalized medicine to improve diagnostic accuracy and therapeutic effectiveness.
Challenges:
Despite rising demand for early cancer detection and precision diagnostics, the lack of standardized reimbursement policies in several developed economies remains a significant constraint on market growth. High costs associated with biomarker testing, diagnostic imaging, and targeted therapies-particularly in emerging markets-also limit accessibility and affordability, restricting widespread adoption. These economic and regulatory challenges continue to impede the full potential of the market.
Regional Trends:
North America is expected to maintain its leading position in the global cancer biomarker market, supported by a high prevalence of chronic diseases, advanced technological capabilities, and a well-established healthcare infrastructure. Strong investment in clinical and translational research further reinforces the region's market leadership. Meanwhile, the Asia-Pacific region is projected to record significant 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 diagnostics companies in the region is expected to create substantial 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/
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Asia: +91 79 72967118
info@insightaceanalytic.com
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