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REPORT HIGHLIGHT

Cancer Biomarkers Market size was valued at USD 28,928.41 million in 2023, expanding at a CAGR of 12.90% from 2024 to 2032.

The Cancer Biomarkers Market refers to identifying and utilizing biological molecules that indicate the presence of cancer in the body, aiding in diagnosis, prognosis, and therapy selection. Increasing demand for personalized medicine, advances in omics technologies, and growing investments in cancer research are boosting market growth. The rising prevalence of cancer globally, with an estimated 19.3 million new cases reported in 2020, underscores the need for efficient diagnostic tools. However, the high costs of biomarker validation and stringent regulatory requirements pose challenges to market expansion. Emerging opportunities lie in developing non-invasive liquid biopsy techniques, which are gaining attention for their potential to improve early cancer detection and monitoring.

Cancer Biomarkers Market- Market Dynamics

Rising Demand for Personalized Medicine Fuels Growth in the Cancer Biomarkers Market

Rising demand for personalized medicine is significantly driving the growth of the Cancer Biomarkers Market as it allows for more targeted and effective cancer treatments. Organizations like the National Institutes of Health (NIH) and the World Health Organization (WHO) emphasize the importance of biomarkers in advancing precision oncology, especially with global cancer cases expected to rise by 47% between 2020 and 2040. For instance, the American Cancer Society has highlighted how biomarkers such as BRCA1 and BRCA2 are pivotal in assessing breast and ovarian cancer risks. Additionally, biomarker-driven therapies are increasingly being incorporated into clinical guidelines, as seen in the U.S. FDA's approval of multiple biomarker-based treatments over the past decade. These advancements are propelling research and innovation in cancer diagnostics and treatment pathways.

Cancer Biomarkers Market- Key Insights

As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 12.90% over the forecast period (2024-2032)

Based on Biomarker Type segmentation, Genetic biomarkers were predicted to show maximum market share in the year 2023

Based on Cancer Type segmentation, Breast cancer was the leading type in 2023

On the basis of region, North America was the leading revenue generator in 2023

Cancer Biomarkers Market- Segmentation Analysis:

The Global Cancer Biomarkers Market is segmented on the basis of Biomarker Type, Cancer Type, Application, and Region.

The market is divided into four categories based on Biomarker Type: Genetic Biomarkers, Protein Biomarkers, Epigenetic Biomarkers, and Metabolic Biomarkers. Genetic biomarkers hold the highest priority due to their critical role in cancer diagnosis and personalized therapies. Protein biomarkers follow, essential for monitoring disease progression. Epigenetic and metabolic biomarkers are gaining importance but rank slightly lower in clinical applications.

The market is divided into two categories based on Cancer Type: Breast Cancer, Lung Cancer, Colorectal Cancer, and Prostate Cancer. Breast cancer biomarkers take top priority due to high incidence and extensive research. Lung cancer follows closely, given its mortality rate and biomarker advancements. Colorectal cancer ranks third, with increasing diagnostic focus, while prostate cancer biomarkers hold slightly lower priority in the market.

Cancer Biomarkers Market- Geographical Insights

North America dominates the Cancer Biomarkers Market, driven by advanced healthcare infrastructure and significant R&D investments in precision medicine. The U.S. leads the region, with the National Cancer Institute (NCI) funding multiple biomarker research programs, contributing to around 1.9 million new cancer cases in 2021. Europe follows closely, where initiatives like the European Union's Horizon 2020 program have allocated substantial funding for biomarker-driven cancer research, particularly in the UK and Germany. In the Asia-Pacific region, rapid healthcare advancements and increasing cancer prevalence, notably in China and India, are fueling market growth. China's National Cancer Center reported over 4.5 million new cancer cases annually, prompting the government to invest in biomarker development. Latin America and the Middle East & Africa are emerging regions, with increasing awareness and government initiatives like Brazil's National Cancer Institute efforts in early diagnosis and biomarker adoption. These geographical dynamics reflect the varied focus and development of the cancer biomarkers market globally.

Cancer Biomarkers Market- Competitive Landscape:

The Cancer Biomarkers Market's competitive landscape is highly dynamic, with North America leading due to the presence of major players and frequent innovations. Companies like Thermo Fisher Scientific and Roche Diagnostics dominate the region, with Roche recently launching its Elecsys(R) PD-L1 biomarker test, enhancing its oncology diagnostics portfolio. In Europe, Qiagen and Bio-Rad Laboratories are key players driving the market with strategic collaborations. For instance, in 2022, Qiagen collaborated with Neuron23 to develop companion diagnostics for neurodegenerative diseases, expanding its focus on biomarker-based therapies. The Asia-Pacific region is witnessing rising competition, with companies like China's BGI Genomics entering international partnerships to leverage biomarker research. In 2021, India-based Strand Life Sciences was acquired by Quest Diagnostics to bolster its oncology testing capabilities. Latin America and the Middle East & Africa are still developing, but growing partnerships and investments indicate a rising interest in biomarker-based cancer solutions, with companies focusing on expanding their presence in these regions.

Recent Developments:

In August 2024, Illumina's TruSight Oncology Comprehensive test received FDA approval as the first comprehensive genomic profiling IVD kit for cancer. It profiles over 500 genes, aiding in targeted therapy matching for patients with specific solid tumors and gene fusions.

In October 2024, AstraZeneca plans to launch biomarker-driven therapies as alternatives to traditional chemotherapy. The company aims to enhance patient outcomes by focusing on precision medicine, targeting specific cancer types with tailored treatments based on genetic markers and tumor characteristics.

SCOPE OF THE REPORT

The scope of this report covers the market by its major segments, which include as follows:

GLOBAL CANCER BIOMARKERS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS

GLOBAL CANCER BIOMARKERS MARKET, BY BIOMARKER TYPE- MARKET ANALYSIS, 2019 - 2032

GLOBAL CANCER BIOMARKERS MARKET, BY CANCER TYPE- MARKET ANALYSIS, 2019 - 2032

GLOBAL CANCER BIOMARKERS MARKET, BY APPLICATION- MARKET ANALYSIS, 2019 - 2032

GLOBAL CANCER BIOMARKERS MARKET, BY REGION- MARKET ANALYSIS, 2019 - 2032

Table of Contents

1. Cancer Biomarkers Market Overview

2. Executive Summary

3. Cancer Biomarkers Key Market Trends

4. Cancer Biomarkers Industry Study

5. Cancer Biomarkers Market: COVID-19 Impact Analysis

6. Cancer Biomarkers Market Landscape

7. Cancer Biomarkers Market - By Biomarker Type

8. Cancer Biomarkers Market - By Cancer Type

9. Cancer Biomarkers Market - By Application

10. Cancer Biomarkers Market- By Geography

11. Key Vendor Analysis- Cancer Biomarkers Industry

12. 360 Degree Analyst View

13. Appendix

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