Cancer Biomarkers Market Growth & Trends
The global cancer biomarkers market size is expected to reach a value of USD 69.76 billion by 2030 and is anticipated to expand at a CAGR of 12.7% from 2024 to 2030. Growing initiatives for development of drugs targeting novel cancer biomarkers coupled with the introduction of technologically advanced companion diagnostic kits is estimated to provide the market with high growth potential. Increasing awareness about personalized medicines amongst patients is further anticipated to boost adoption of cancer biomarkers.
In addition, presence of favorable government initiatives for the development of novel cancer diagnostic techniques is a key factor for market growth. For instance, the National Cancer Institute (NCI) provides funding to more than 8 research areas pertaining to cancer biomarker development. Cancer Research UK, Lung Cancer Research Foundation, and National Institutes of Health are some of the organizations providing funding for biomarker research.
People with high alcohol consumption, tobacco usage, unhealthy food habits, and sedentary lifestyle are reported to be 80% more at risk of developing cancer as compared to other individuals. Infections such as Human papillomavirus (HPV), Epstein-Barr virus, Hepatitis B virus, and Helicobacter pylori are also been studied to be related in cancer development.
Cancer Biomarkers Market Report Highlights
- The breast cancer segment held a significant market share in terms of revenue in 2023 and it is also expected to be the witness the fastest CAGR over the forecast period.
- The others segment held a notable share in 2023 pertaining to the increased research on rare cancers, advancements in genomics and proteomics, the rising incidence of cancers such as pancreatic and ovarian, and the growing demand for personalized medicine.
- The genetic biomarkers segment dominated the market in terms of revenue share in 2023. Genetic biomarkers are crucial in the cancer biomarkers market due to several driving factors.
- The epigenetics segment is expected to be the fastest growing segment over the forecast period. One of the key drivers boosting the growth of the segment is the growing research for the development of novel biomarkers.
- The diagnostics segment dominated the market in terms of revenue share in 2023. Factors such as the growing development of cancer biomarkers based on oncology tests that are highly efficient and effective and growing government initiatives may drive the segment's growth.
- The personalized medicine segment is the fastest growing segment during the forecast period.
- The imaging technologies segment dominated the market share in 2023 due to its high-throughput nature, accuracy, and broad applicability in biomarker discovery and diagnosis.
- North America dominated the cancer biomarkers market with revenue share of 43.84% in 2023. This dominance is due to the presence of numerous market players dedicated to cancer biomarkers and substantial investments by the U.S. government in research and development efforts, which foster innovation.
- Asia Pacific cancer biomarkers market is anticipated to witness the fastest growth at a CAGR of 14.3% over the forecast period.
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- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Cancer Biomarkers Market Variables, Trends, & Scope
Chapter 4. Cancer Biomarkers Market: Type Estimates & Trend Analysis
Chapter 5. Cancer Biomarkers Market: Biomolecule Estimates & Trend Analysis
Chapter 6. Cancer Biomarkers Market: Application Estimates & Trend Analysis
Chapter 7. Cancer Biomarkers Market: Technology Estimates & Trend Analysis
Chapter 8. Cancer Biomarkers Market: Regional Estimates & Trend Analysis
Chapter 9. Competitive Landscape
Companies Mentioned
- Abbott
- QIAGEN
- Thermo Fisher Scientific Inc
- Affymetrix Inc
- Illumina, Inc.
- Agilent Technologies
- F. Hoffmann-La Roche AG
- Merck & Co. Inc
- Hologic, Inc
- Sino Biological Inc
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 100 |
| Published | August 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 30.35 Billion |
| Forecasted Market Value ( USD | $ 69.76 Billion |
| Compound Annual Growth Rate | 12.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
