The latest market report published by Credence Research, Inc. “Global Cancer Biomarkers Market By Type (Genetic Biomarkers, Epigenetic Biomarkers, Metabolic Biomarkers, Proteomic Biomarkers), By Type of Cancer (Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Cervical Cancer), By Type of Profiling Technologies (Immunoassays, Omics Technologies, Cytogenetics, Imaging Technologies, Bioinformatics), By Application (Diagnostics, Drug Discovery & Development, Prognostics, Risk Assessment) - Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2017 - 2025,” The market for cancer biomarkers was valued at USD 10,514.0 million in 2016 and is anticipated to exceed USD 30,284.5 million by 2025, increasing to CAGR by 11.5 percent from 2017 to 2025.
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Market Insights:
According to Provista Diagnostics, there are six kinds of biomarkers in cancer research, such as risk assessment, screening / detection, diagnosis, prognosis, prediction and surveillance. In the situation of risk assessment, biomarkers identify factors for access to disease susceptibility, screening biomarkers suggest early disease existence, and predicting biomarkers predict efficacy or reaction to multiple medicines. In latest years, notable progress have been made in understanding the molecular mechanism of cancer development that has transformed people's ability to observe the process of malignant transformation. In addition, market specialists also feel that this knowledge should be translated in to better treatments for cancer patients. This innovation has effectively attracted interest in the growth of targeted cancer therapies and personalized medicine.
The general market segmentation of the cancer biomarker market consists of type, type of cancer, type of technology profiling and type of implementation. In 2016, proteomic biomarkers dominated the market by type due to the outstanding market capacity of protein biomarkers in diagnostics, prognosis, cancer detection and other clinical and therapeutic applications. In addition, an growing focus of pharmaceutical & biotechnology firms on protein biomarker studies and development is anticipated to boost general market growth.
In 2016, breast cancer dominated the cancer biomarker industry owing to increased incidence of the disease, increased awareness of early diagnosis, increased public awareness with the help of government and non-government organizations, and increased research and development activities in the field of breast cancer diagnosis. During the 2017-2025 forecast period, lung cancer was found to be the fastest increasing segment owing to main driving factors such as increased incidence of lung cancer owing to increased air pollution and frequent smoking found in younger generations.
In the event of profiling systems, omics technologies accounted for the biggest share of the market for cancer biomarkers and also the fastest increasing segment owing to main drivers such as enhanced acceptance of sophisticated high-throughput techniques in biomarker discovery and growth and increasing implementation of omics-based cancer diagnostic and drug development studies. In addition, continuous advances in high-performance omics techniques are also supporting the development of this industry by increasing the room for potential biomarkers in cancer research.
In 2016, the application segment was dominated by diagnostics due to key drivers, such as raising awareness among patients of the significance of early diagnosis of cancer and diagnostic biomarkers, enabling physicians to decide on efficient therapy options.
North America dominated the cancer biomarkers market in year 2016 due to key driving factors such as increasing adoption of innovative technology, headquarters of key pharmaceutical companies are based in North America, established R&D infrastructure pertaining to the development of novel diagnostic products, and increased demand for specific & early diagnostics. Asia Pacific region was observed as the fastest growing segment due to increasing prevalence of cancer, beneficial environment for clinical trials, and increasing government support for drug development programs is anticipated to witness lucrative CAGR.
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Market Competition Assessment:
The cancer biomarkers market is observed as the most diversified and competitive market comprising large number of players. The market is dominated by several players, depending on their major competencies. The key players in this market are Abbott Laboratories, Affymetrix, Inc., DiagnoCure Inc. Qiagen N.V., Illumina, Inc., Roche Diagnostics Ltd., Quest Diagnostics Inc., Agilent Technologies Inc., Merck & Co. Inc., Hologic, Inc., and Becton Dickinson and Company among others.
Key Market Movements:
- Rising prevalence of cancer in developed as well as developing countries
- Increasing application of biomarkers in the drug discovery and development process
- Supportive government policies and awareness activities carried out by non-government organization
Report Scope by Segments
By Type
- Genetic Biomarkers
- Epigenetic Biomarkers
- Metabolic Biomarkers
- Proteomic Biomarkers
- Other Biomarkers
By Profiling Technology Type
- Immunoassays
- Omics Technologies
- Cytogenetics
- Imaging Technologies
- Bioinformatics
By Cancer Type
- Breast Cancer
- Lung Cancer
- Colorectal Cancer
- Prostate Cancer
- Cervical Cancer
- Others
By Application Type
- Diagnostics
- Drug Discovery & Development
- Prognostics
- Risk Assessment
- Others
By Geography Segment
- North America
- Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- Latin America
