Cancer Biomarkers Market Size 2019-2023 | In-depth Study, Global Industry Size, Scope, Future Expectations, Market Overview and Forecast Research
The data collected in the “Global Cancer Biomarkers Market – Segmented by Disease, Application, Service, Type, Profiling Technologies, and Geography – Growth, Trends, and Forecast (2019 – 2023)” report (Sample Copy Here) offers detailed insights on the market dynamic forces to enable informed business decision making and development strategy formulation supported on the opportunities present in the market. Cancer Biomarkers Market report delivers the most up-to-date industry data on the actual and potential market situation, and outlook.
The Global Cancer Biomarkers Market 2019 is bifurcated into multiple segments [Product, Applications, End-Users, and Major Regions]. The global Cancer Biomarkers Market report represents the market’s data in a better-analyzed way by fragmenting the market in several multiple segments product, its end-users, applications, and others of the market segments. A review of the impact of the administrative regulations and policies on the Cancer Biomarkers Market operations is also included in this report. The Cancer Biomarkers Market report offers a complete analysis of competitive dynamics that are modifying and places the patrons ahead of competitors.
Cancer Biomarkers Market Segmentation by Major Players:
Abbott Laboratories, Affymetrix Inc., (Thermo Fisher Scientific), Agilent Technologies, Hologic Inc., Roche Holding AG, 23andMe, Ambry Genetics, Biomerieux, Celera Corporation (Quest Diagnostics), Illumina Inc.
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Overview of Cancer Biomarkers Market Report:
The global cancer biomarkers market is expected to register a good CAGR during the forecast period of 2019–2023. Biomarkers are chemical, physical or biological parameters, which can be used to indicate disease states. Oncology biomarkers offer high speed, non-invasive cancer diagnosis, and are believed to enhance cancer detection and screening. Major driving factors for the market are streamlined drug delivery process, noninvasive technology, and increased rates of survival.
Increased Incidences of Cancer Driving the Market
Cancer is one of the leading causes of death across the globe, with 8.8 million victims in 2015, accounting for nearly one in six deaths. The disease has witnessed significant growth in the last few decades and is expected to grow rapidly during the forecast period. There were 10.9 million new cases in 2002, which increased to 14.1 million in 2012. This is approximately a 30% growth in a decade. The WHO expects this number to increase to 70% over the next two decades. This increased incidence of various diseases is expected to drive the global market, as biomarkers have a vital role in risk assessment, early diagnosis, and effective monitoring of treatment.
According to WHO, almost 70% of deaths from cancer occur in low and middle-income countries, and only one in five low and middle-income countries has the necessary data to drive cancer policy. This lack of data has been a limiting factor for many years, but the trend is changing. As data is being generated aggressively in the healthcare sector, the lack of data has already become outdated in a few developing countries, and it will likely become so in the remaining countries. This augmentation of data is expected to provide the basis for any national policy on cancer. In turn, this will possibly lead to an increase in the percentage of people opting for cancer treatment. This improved demand in low and middle-income countries is projected to boost the cancer biomarker market. The other factors, such as paradigm shift in healthcare from disease diagnosis to risk assessment or early diagnosis and increasing usage in drug development are driving the global cancer biomarker market.
High Cost of Diagnosis
According to a recent publication, approximately 13% of all deaths across the globe are caused due to cancer. It is estimated that the total cost of cancer in the United States was more than USD 263 billion in a single year. The usage of biomarkers for screening, monitoring, diagnosing, and optimizing treatment has the potential to improve patient outcomes. On the contrary, the discovery of cancer biomarkers and the development and validation of assays are both complex and expensive. Because of the critical role that biomarkers play at all stages of the disease, it is important that they undergo rigorous evaluation, including analytical validation, clinical validation, and assessment of clinical utility, before incorporation into routine clinical care. All these processes add up to the actual cost of cancer biomarkers and make them expensive. Due to these reasons, biomarker development and validation costs are higher today. This applies particularly to the cancer field with the advent of novel cancer biomarkers. The costs of many of these new-generation technologies, like prognostic or predictive biomarkers, run into thousands of dollars per patient. This high cost of diagnosis, reimbursement issues, and need for immediate processing are hindering the market.
United States Leads the Market
The United States cancer biomarker market held the largest market share in 2017 in the North America region due to the presence of high-quality healthcare system, and the high rate of prevalence of cancer. In the Asia-Pacific sector, China and India have been identified as potential emerging markets.
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Further, in the Cancer Biomarkers Market research reports, the following points are included along with an in-depth study of each point:
Production Analysis – Production of the Cancer Biomarkers is analyzed with respect to different regions, types, and applications. Here, price analysis of various Cancer Biomarkers Market key companies is also covered.
Competitors – In this section, various Cancer Biomarkers industry-leading players are studied with respect to their company profile, product portfolio, capacity, price, cost, and revenue.
Sales and Revenue Analysis – Both, sales and revenue are studied for the different regions of the Cancer Biomarkers Market. Another major aspect, price, which plays an important part in the revenue generation, is also measured in this section for the numerous regions.
Supply and Consumption – In continuation with sales, this section studies supply and consumption for the Cancer Biomarkers Market. This part also shelters light on the gap between supply and consumption. Import and export statistics are also given in this part.
Other analyses – Apart from the above-mentioned information, trade and distribution analysis for the Cancer Biomarkers Market, the contact information of major manufacturers, suppliers and key consumers is also given. In addition, SWOT analysis for new projects and viability analysis for new investment are included.
Lastly, with a team of vivacious industry professionals, we offer our clients with high-value market research that, in turn, would aid them to decipher new market avenues together with new strategies to take hold of the market share.