Cancer Biomarkers Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2016–2024
Cancer therapies are expensive and the cost rises with increase in complexity or stage of the caner condition. Therefore, understanding cancer biomarkers is the key to developing the right treatment plan for a cancer patient. Biomarkers indicates one’s health condition and the underlying disease condition.
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Various types of biomolecules such as DNA, proteins, and hormones are widely used to detect the malady. These biomarkers can be found in blood, urine, stool, tumor tissue, or other body fluids. Different cancer biomarkers react differently to various cancer treatments. There are increasing efforts to diagnose cancer at an early stage, which would drive the global cancer biomarkers market growth. However, poor reimbursement policies is negatively impacting market growth.
Cancer Biomarkers Market Taxonomy
The global cancer biomarkers market can be segmented on the basis of biomarker type, cancer type, application, and biomarker profiling technologies. On the basis of biomarker type, the market is segmented into protein biomarker, genetic biomarker and cellular biomarkers, and others.
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On the basis of cancer type, the global caner biomarkers market is segmented into lung cancer, breast cancer, prostate cancer, cervical cancer, colorectal cancer and others. Human epidermal growth factor receptor 2 (HER2) is the biomarker highly targeted for breast cancer treatment. Other types of cancer biomarkers include ERCC1, BRCA1, BRCA2 and SPARC.
On the basis of profiling technology, the market is segmented into omics technologies, imaging technologies, immunoassays, cytogenetic based tests, and bioinformatics. Omics technologies is widely used profiling technology in the global market. Growing demand for personalized treatment therapies, use of proteomics in cancer biomarker detection, growing demand for accurate & effective diagnostic procedures are amongst the major factors driving its market growth. Enzyme-Linked Immunosorbent Assay (ELISA) is the most widely used immunoassays profiling technology in the global cancer biomarkers industry.
On the basis of application, the market is classified as drug discovery and development, diagnostics, prognostics, risk assessment and others. Cancer biomarkers are finding increasing applications in drug discovery with growing research activities on targeted cancer therapies.
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Cancer Biomarkers Market: Regional Overview
North America and Europe dominate the global cancer biomarkers market on account of high cancer diagnostic and detection procedures, high investment in research and development by pharmaceutical and biotechnology companies and better healthcare infrastructure supporting the R&D activities using biomarkers. Markets in emerging economies such as the Asia Pacific and Latin America are poised to grow at a considerable higher growth rate owing to increasing funding for cancer biomarker research, growing prevalence of cancer, increasing number of clinical trials and growing demand for targeted and personalized drug therapies. The WHO estimates that in 2015 only 35% of the low-income countries reported to have pathology services available in the public sector. The rate is extremely less compared the high-income countries, which reported 90% availability of pathology services. These factors highly govern the growth of cancer biomarkers market, as accessibility would enable uptake of this technology by the users.
Some of the key players in the global cancer biomarkers market include Abbott Laboratories, Merck & Co. Inc., Affymetrix Inc., Agilent Technologies, Illumina, Inc., Roche Diagnostics Ltd, Becton Dickinson and Company, Thermo Fisher Scientific Inc., Qiagen NV, and Hologic Inc.
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