According to Globocan 2020 data, there were 185,621 fatal cancer cases and approximately 467,965 new cancer cases in France. According to the Foundation de France, more than 350,000 people are affected by cancer every year, and it claims close to 150,000 lives. This accounts for about one-third of all fatalities. Cancer biomarkers are becoming more and more important in emerging economies, and there is also growing awareness of them in outlying areas. As a result, it has been discovered that cancer biomarkers are essential for early detection and risk assessment.
According to Data Bridge Market Research, Cancer Biomarkers Market was USD 13.24 billion in 2022, would rocket up to USD 36.74 billion by 2030 and is expected to undergo a CAGR of 13.6% during the forecast period from 2023 to 2030.
“Increasing incidence of cancer surge market demand"
The increasing incidence of cancer globally has driven the demand for cancer biomarkers. Biomarkers, which are measurable indicators of biological processes or disease states, play a crucial role in the early detection, diagnosis, prognosis, and treatment selection for cancer patients. By providing valuable information about the presence, progression, and characteristics of tumors, biomarkers aid in improving patient outcomes by enabling timely interventions and personalized treatment strategies.
What restraints the growth of the cancer biomarkers market?
“High treatment costs can impede the market growth”
The high treatment costs associated with cancer biomarkers pose a challenge to market expansion. The significant investment requirements and expensive capital expenditure on diagnostic equipment limit accessibility, particularly in underdeveloped countries where affordability is a concern. These financial barriers restrict the widespread adoption of cancer biomarkers and hinder market growth, making it necessary to address cost-related issues to ensure equitable access to these technologies.
Segmentation: Global Cancer Biomarkers Market
The cancer biomarkers market is segmented on the basis of product, technology, service, type, application, and indication
- On the basis of product, the cancer biomarkers market is segmented into consumables, services, software, and growth hormone therapy.
- On the basis of type, the cancer biomarkers market is segmented into safety, efficacy, validation, protein, pharmacodynamics, and genetic.
- On the basis of technology, the cancer biomarkers market is segmented into omics, imaging technology, immunoassays, cytogenetics, and bioinformatics.
- On te basis of service, the cancer biomarkers market is segmented into sample preparation, assay development, biomarkers, and testing.
- On the basis of application, the cancer biomarkers market is segmented into diagnostics development, drug discovery, and development, personalized medicine, disease-risk assessment, others.
- On the basis of disease, the cancer biomarkers market is segmented into prostate cancer, breast cancer, lung cancer, colorectal cancer, cervical cancer, and other diseases.
- On the basis of indication, the cancer biomarkers market is segmented into cancer, cardiovascular disorders, neurological disorders, immunological disorders, and others.
Regional Insights: North America dominates the Global Cancer Biomarkers Market
North America dominates the cancer biomarkers market due to the broad base of healthcare facilities, growing financial commitments from top industry players to the development of cutting-edge devices, and an expansion of drug development procedures. Additionally, the monitoring of the biological response to cancer therapy, the detection of some tumors, and the expansion of research initiatives in this area all contribute to the market growth.
Asia-Pacific is expected to witness significant growth due to the expansion of public awareness campaigns, an uptick in medical travel, rising regional research activity, an increase in cancer incidence, and rising demand for high-quality healthcare.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-cancer-biomarkers-market
Recent Developments in Global Cancer Biomarkers Market
- In 2022, Lingo, a consumer bio wearable from Abbott Laboratories, can track significant bodily signals and help users better understand and take care of their overall health. Biohackers might be able to use a continuous data stream as opposed to irregular urine samples, finger prick tests, and breath readings.
- In 2022, The OncoDEEP kit was introduced by the genomic and prognostic company OncoDNA. The kit provides a comprehensive workflow solution that enables labs with NGS capabilities to conduct extensive biomarker testing, carry out cutting-edge data analysis, and help oncologists give their patients the most efficient and individualized cancer treatments possible.
The Prominent Key Players Operating in the Global Cancer Biomarkers Market Include:
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Thermo Fisher Scientific Inc. (U.S.)
- Abbott (U.S.)
- QIAGEN (Germany)
- PerkinElmer, Inc. (U.S.)
- Merck KGaA (Germany)
- Bio-Rad Laboratories, Inc. (U.S.)
- Enzo Biochem, Inc. (U.S.)
- Charles River Laboratories (U.S.)
- Eurofins Scientific (Luxembourg)
- Agilent Technologies, Inc. (U.S.)
- Bruker (U.S.)
- Siemens (U.S.)
- Epigenomics AG (Germany)
- General Electric (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of cancer biomarkers market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Cancer Biomarkers Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
