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Global Cancer Biomarkers Market Will Grow at a CAGR of 12.2% from 2017 to 2024

09-12-2017 08:15 AM CET | Health & Medicine

Press release from: Data Bridge Market Research

"Global Cancer Biomarkers Market" – Industry Trends and Forecast to 2024

"Global Cancer Biomarkers Market" – Industry Trends and Forecast to 2024

The Global Cancer Biomarkers Market has accounted to USD 10.9 billion in 2016, growing at a CAGR of 12.2% from 2017 to 2024, and is expected to reach USD 27.4 billion by 2024.

Global Cancer Biomarkers Market, By Tumor (Breast, Lung, Prostate), By Type (Protein Biomarker, Genetic Biomarkers), By Profiling Technology (Proteomics, Genomics, Imaging, Immunoassay), By Application (Diagnostic, Drug Discovery, Prognostic), By Geography (North America, Europe, Asia-Pacific, South America, Rest of the World) – Industry Trends and Forecast to 2024

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Cancer biomarkers are the molecules secreted by a tumor or a specific response of the human body indicating the presence of cancer. The biomarkers enable cancer detection at an early stage and facilitate high-speed noninvasive diagnosis using various genomics and proteomics tools. Cancer biomarkers are used for various applications such as cancer diagnostics, drug discovery and development, prognostics, personalized medicine, and surrogate endpoints. Over the years, cancer biomarkers have become an integral part of research in pharmaceutical and clinical trial companies, as they help to reduce the time and cost of the drug discovery and development process.

Global Cancer Biomarkers Market – Market Segmentation

In this report, the cancer biomarkers market is segmented on the basis of type, cancer type, profiling technology, application, and geography.
Based on type, the Cancer Biomarkers Market is broadly split into three segments, namely, protein biomarkers, genetic biomarkers, and other biomarkers (includes viral, cell, and carbohydrate biomarkers).

Based on cancer type, the Cancer Biomarkers Market is categorized into breast cancer, lung cancer, colorectal cancer, prostate cancer, cervical cancer, and other cancers (includes melanoma, leukemia, gastric, kidney, liver, and pancreatic cancers).

The cancer biomarkers market, by profiling technology, is segmented into omics technologies, imaging technologies, immunoassays, cytogenetics, and bioinformatics. The omics technologies segment accounted for the largest share of the global cancer biomarkers market in 2015. The largest share of this segment is mainly attributed to the increased adoption of advanced high throughput technologies in biomarker discovery and development and increasing use of omics-based tests for cancer diagnosis and drug development process.

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Global Cancer Biomarkers Market – Geographical Segmentation

Based on geography the Global Cancer Biomarkers Market is segmented into 5 geographical regions, North America, Europe, Asia-Pacific, South America and rest of the world. The geographical regions are further segmented into 24 major countries such as U.S. Canada, Mexico, Germany, France, U.K., Belgium, Switzerland, Belgium, Turkey, Japan, China, Singapore, Brazil, India, Russia, South Africa and many others. In 2016, North America is expected to dominate the market with a share of 34.7%, growing at a CAGR of 11.2% in the forecast period 2016 to 2022. The dominance of North America is owing to high incidence of cancers such as breast and lungs, coupled with favorable reimbursement scenarios and highest treatment success rate.

Global Cancer Biomarkers Market – Competitive Landscape

The major players in this market are turning to strategies such as mergers, acquisition and new product developments as major market strategies to penetrate the market. Some of the major players operating in this market are Abbott Laboratories, DiagnoCure Inc., Affymetrix, Inc., Illumina, Inc., Qiagen N.V., Roche Diagnostics Ltd., Agilent Technologies Inc., Quest Diagnostics Inc., Merck & Co. Inc., Hologic, Inc., and Becton Dickinson and Company among others.

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