Cancer Biomarkers Market Report 2023: Sector is Expected to Reach $26,979.50 million by 2027 at a CAGR of 11.8%

According to a new Allied Reports study, the global cancer biomarkers market size is expected to reach $26,979.50 million by 2027, registering a CAGR of 11.8% from 2020 to 2027, The study analyzes the important strategies, drivers, competition, market dynamics, size, and important investment regions.

Key Takeaways:

The cancer biomarkers market is experiencing significant growth due to advancements in genomic and proteomic technologies, increasing prevalence of cancer, and the need for personalized medicine.

Biomarkers play a crucial role in cancer diagnosis, prognosis, treatment selection, and monitoring of therapeutic response.

The market is driven by the increasing demand for non-invasive and early detection methods for cancer, as well as the development of targeted therapies.

Liquid biopsy-based biomarkers are gaining traction as they offer minimally invasive testing and can provide real-time information about tumor progression and treatment response.

Genetic biomarkers, such as mutations or gene expression patterns, are widely used in cancer research and clinical practice to identify specific cancer types and guide treatment decisions.

Proteomic biomarkers, such as circulating tumor cells (CTCs) and proteins in blood or tissue samples, are being explored for their potential in cancer diagnosis, monitoring, and prediction of treatment response.

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Market Drivers:

Increasing Prevalence of Cancer: The rising incidence of cancer globally is a significant driver for the market. Biomarkers play a crucial role in early detection, accurate diagnosis, and effective treatment selection, leading to improved patient outcomes.

Advancements in Genomic and Proteomic Technologies: Technological advancements in genomics and proteomics have expanded the range of detectable biomarkers and improved their sensitivity and specificity. Next-generation sequencing, mass spectrometry, and other high-throughput techniques enable the identification and validation of novel biomarkers.

Personalized Medicine: Biomarkers play a crucial role in the era of personalized medicine. They help in identifying specific molecular characteristics of tumors, enabling targeted therapies and treatment optimization based on individual patient profiles. This approach improves treatment efficacy and reduces adverse effects.

Market Segmentation:

Biomarker Type:

• • Genetic Biomarkers (mutations, gene expression)
  • Proteomic Biomarkers (proteins, circulating tumor cells)
  • Epigenetic Biomarkers (DNA methylation, histone modifications)

Cancer Type:

• • Breast Cancer
  • Lung Cancer
  • Prostate Cancer
  • Colorectal Cancer
  • Melanoma
  • Leukemia
  • Others

Application:

• • Diagnosis
  • Prognosis
  • Treatment Selection
  • Monitoring and Recurrence Detection

Technology:

• • Immunoassays
  • Next-generation Sequencing (NGS)
  • Polymerase Chain Reaction (PCR)
  • Mass Spectrometry
  • In Situ Hybridization (ISH)

End-user:

• • Hospitals
  • Diagnostic Laboratories
  • Research Institutions
  • Pharmaceutical Companies

Region:

• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

These segmentation factors allow for a more targeted analysis of the cancer biomarkers market and help in understanding specific market dynamics and trends for each segment.

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Regional Growth Dynamics:

North America and Europe are the most lucrative markets due to increase in prevalence of various cancer cases, growth in awareness toward cancer, higher cancer biomarker testing, well-established reimbursement policies, and high disposable income. The North America cancer biomarker market generated $3,988.02 million revenue in 2019, and is estimated to garner an approximate revenue of $8,733.26 million by 2027, at an estimated CAGR of 10.1%.

Competitive Landscape:

• F. Hoffmann-La Roche Ltd.
• Thermo Fisher Scientific, Inc.
• Illumina, Inc.
• QIAGEN N.V.
• Abbott Laboratories
• Bio-Rad Laboratories, Inc.
• Agilent Technologies, Inc.
• Siemens Healthineers AG
• Merck KGaA
• Myriad Genetics, Inc.

Recent developments:

• Liquid Biopsy Advancements: Liquid biopsy-based biomarkers have gained significant attention and investment. Advances in technologies like circulating tumor DNA (ctDNA) analysis and circulating tumor cells (CTCs) detection have improved the sensitivity and accuracy of liquid biopsies for cancer diagnosis, monitoring, and treatment response prediction.
• Immune Checkpoint Inhibitor Biomarkers: Biomarkers such as PD-L1 expression and tumor mutational burden (TMB) have emerged as predictive markers for patient response to immune checkpoint inhibitor therapies. These biomarkers help in identifying patients who are more likely to benefit from immunotherapy and guide treatment decisions.

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VALUE PROPOSITIONS RELATED TO THE REPORT:

• Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
• Comprehensive quantitative and qualitative insights at segment and sub-segment level
• Covid 19 impact trends and perspective
• Granular insights at global/regional/country level
• Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment

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