Market Analysis: Global Cancer Biomarkers Market
Global Cancer Biomarkers Market is expected to rise from its initial estimated value of USD 21.85 billion in 2018 to an estimated value of USD 56.06 billion by 2026, registering a CAGR of 12.5% in the forecast period of 2019-2026. This rise in market value can be attributed to the increasing Use of Cancer Biomarkers in Drug Discovery and Development.
Market Definition: Global Cancer Biomarkers Market
Cancer biomarkers are the molecules secreted by a tumor or a specific response of the human body indicating the presence of cancer. The biomarkers enable cancer detection at an early stage and facilitate high-speed noninvasive diagnosis using various genomics and proteomics tools. Cancer biomarkers are used for various applications such as cancer diagnostics, drug discovery and development, prognostics, personalized medicine, and surrogate endpoints. Over the years, cancer biomarkers have become an integral part of research in pharmaceutical and clinical trial companies, as they help to reduce the time and cost of the drug discovery and development process.
According to World Health Organization, there were an estimated 9.6 million deaths in 2018 due to cancer; Cancer is the second leading cause of death globally. About 1 in 6 deaths is due to cancer. These deaths could have been avoided with the availability of proper medical equipment and devices for healthcare procedures. This significant number is expected to act as a driver to the market growth
- Rising incidence of cancer is working as a market driver for this market
- Increasing use of cancer biomarkers in drug discovery and development due to its ease of use and accurate results.
- Due to increase in cancer cases there is increase in demand for Biomarkers
- Unfavorable regulatory and reimbursement scenario due to high cancer case regulatory has made strict norms.
- High capital investment is required for biomarker but benefit is low as compared to cost-
- Technical issues is very high at the time of sample collection and storage this is working as a market restraint.
Segmentation: Global Cancer Biomarkers Market
- By Type
- Genetic Biomarkers
- Protein Biomarkers
- Other Cancer Biomarkers
- By Cancer Type
- Breast Cancer
- Lung Cancer
- Prostate Cancer
- Colorectal Cancer
- Blood Cancer
- Ovarian Cancer
- Liver Cancer
- Stomach Cancer
- Other Cancer Types
- By Technology
- Imaging technologies
- Omic Technologies
- Other Omic technologies
- Cytogenetics-Based Tests
- By Applications
- Drug discovery and Development
- Personalized medicine
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
- North America
Key Developments in the Market:
- In April 2019, the University of Otago, New Zealand, and the Indian Statistical Institute (ISI), India have discovered epigenetic markers that aredistinctly different in oral cancer tissues This phenomenon is new and focused on oral cancer particularly.
- In April 2019, Princess Margaret Cancer Centre in Toronto, Canada, has combined liquid biopsy, epigenetic alterations and machine learning to develop a blood test to detect and classify cancer at its earliest stages. This will change the usage of Biomarkers in cancer Market so that cancer can be identified in its initial stages.
Competitive Analysis: Global Cancer Biomarkers Market
Global cancer biomarkers market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of cancer biomarkers market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Cancer Biomarkers Market
Few of the major competitors currently working in the Cancer Biomarkers market are Abbott (U.S), DiagnoCure Inc ( Canada)., Affymetrix, Inc. (U.S), Illumina, Inc.(U.S.) , QIAGEN. (Germany), F. Hoffmann-La Roche Ltd. (Switzerland), Agilent Technologies Inc. (U.S.) , Quest Diagnostics Inc. (U.S.), Merck & Co. Inc. (U.S.) , Hologic, Inc ( U.S)., BD (U.S.) GlaxoSmithKline plc (UK), Novartis AG (Switzerland), Bristol-Myers Squibb (US), Eli Lilly and Company (US), Pfizer, Inc. (US), and Genomic Health, Inc. (US), bioMérieux SA (France), Astellas Pharma Inc. (Japan), Myriad Genetics (US), Epigenomics AG (Germany) and Radient Pharmaceuticals(Bangladesh) . and Company among others.
Research Methodology: Global Cancer Biomarkers Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
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, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of Global cancer biomarkers market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)