Cancer Biomarkers Market: Increasing the Prevalence of Cancer Driving the Market Growth
‘Global Cancer Biomarkers Market – Size, Share and Forecasts (2019-2026)’ from DataM Intelligence provides expert analysis into the market share, size, industry outlook, volume, major manufacturers and future trends in this industry.
The global cancer biomarkers market was valued at US 12.21 billion in 2018 and is expected to witness a CAGR of 13.2% over the forecast period (2019–2026).
Cancer Biomarkers Trends
Cancer is one of the deadly diseases ever know. The high prevalence rate of cancer is expected to be a significant revenue booster for cancer biomarker market. For instance, according to cancer.gov, in 2018, an estimated 1,735,350 new cases of cancer will be diagnosed in the United States and 609,640 people will die from the disease. In 2018, an estimated 266,120 new cases of invasive breast cancer are expected to be diagnosed in women in the U.S., along with 63,960 new cases of non-invasive (in situ) breast cancer. About 2,550 new cases of invasive breast cancer are expected to be diagnosed in men in 2018. A man’s lifetime risk of breast cancer is about 1 in 1,000.
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Cancer Biomarkers Market Developments
The government of various healthcare organizations, private organizations, have increased research and development funding for cancer biomarkers. With increasing prevalence of cancer coupled with raising funds for cancer biomarker testing has immensely boosted the market for cancer biomarker market. For instance, in June 2018, Cancer Research U.K., proposed funding of US 140,922 per year, through biomarker project for biomarker assay development, validation, and qualification for use in clinical cancer diagnosis.
Cancer Biomarkers Segmentation
By biomarker type, genetic biomarker accounts for the largest share in the cancer biomarker market. The biomarker market is estimated to grow at a nominal of pace in the forecasted period growing at a CAGR of XX% in the predicted period 2018-2025.
Genetic Biomarker is defined as a DNA or RNA characteristic that is an indicator of normal biologic processes, pathogenic processes, and response to therapeutic or other intervention.
For instance, in January 2018, FDA has approved a PMA supplement extending the indications for the use of QIAGEN’s therascreen EGFR RGQ PCR Kit as a companion diagnostic to guide the use of Boehringer Ingelheim’s targeted therapy GILOTRIF for first-line treatment of NSCLC.
Global Cancer Biomarkers Regional Share
North America accounts for the largest market share in 2017 with the market being dominated by the United States.
North America is dominating the cancer biomarkers market due to established R&D infrastructure and high acceptance of biomarker-based cancer testing, adequate reimbursement coverage in this region.
Also, the largest share of North America is due to the increasing government support for discovery and development of biomarkers, increasing demand for personalized medicine, high adoption of advanced omics technologies for biomarker discovery, and rising use of biomarkers in drug discovery and development by pharmaceutical companies in that region.
The US holds the largest market share in North America followed by Canada due to growing research and developments in cancer biomarkers with a rising number of cancer cases in this region.
India, China, Brazil, and Australia market are growing at a higher rate while United States, Italy, Germany, Japan, and Spain market are increasing at a slower pace but contribute to the most substantial market revenue in 2017.
Cancer Biomarkers Companies
The cancer biomarker market is a highly competitive market with genetic biomarker being consolidated market while protein biomarker market is a fragmented market.
Companies in the industry are focusing on launching novel products into the market with partnerships being the most adopted strategy by the major companies in the industry.
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Following contents are contained in this report-
1. Cancer Biomarkers Market – Methodology and Scope
2. Cancer Biomarkers Market – Industry Analysis
3. Cancer Biomarkers Market Overview
4. Cancer Biomarkers Market – Product Pipeline Analysis
5. Cancer Biomarkers Market – Segmentation by Cancer Indication
6. Cancer Biomarkers Market – Segmentation by Biomarker Type
7. Cancer Biomarkers Market – Segmentation by Profiling Technology
8. Cancer Biomarkers Market – Segmentation by Application
9. Cancer Biomarkers Market – Regional, Country-level Analysis
9.1. North America
9.4. South America
9.5. Rest of the World
10. Cancer Biomarkers Market – Competitive Analysis
11. Cancer Biomarkers Market – Company Profiles
12. Cancer Biomarkers Market – Appendix
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