Global Cancer Biomarkers Market is valued at approximately at USD 10.9 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 11.8% over the forecast period 2020-2027. According to the World Health Organization (WHO), cancer is the second major cause of death around the world and is responsible for nearly 70% of deaths occurred in the developed and developing countries in 2018. A cancer biomarker is the traceable molecule or substance that demonstrates the existence of cancerous cells in the human body. A biomarker may be a molecule/substance covered by a tumor or a specific response of the human body to the existence of cancerous cells. The prevention & diagnosis of cancer by examining several cancer biomarkers through the use of distinct diagnostic techniques is a profound approach to attain rapid results for treatment. Proteomic, genetic, glycomic, and epigenetic are the major biomarkers that can be extensively used for cancer diagnosis, epidemiology and prognosis. An increase in the number of cancer patients, growing awareness among patients towards cancer therapy, and rising investment and government funding in the development of cancer biomarkers are the few factors responsible for the impressive growth of the market during the forecast period. According to the International Agency for Research on Cancer (IARC), there were approximately 18.1 million novel cases of cancer and 9.6 million cancer deaths were reported throughout the world in 2018. Also, the global prevalence of cancer is projected to grow to around 27.5 million new cancer cases and nearly 16.3 million cancer deaths by the year 2040. This, in turn, is likely to strengthen the demand for Cancer Biomarkers, globally. However, the high development cost of vaccine and unregulated government regulations and reimbursement policies are the few factors impeding the market growth over the forecast period of 2020-2027.
The regional analysis of the global Cancer Biomarkers market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rising usage of cancer biomarkers in drug discovery and development, along with the large presence of market players in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in prevalence of cancer and improving healthcare infrastructure in the developing nations, such as China and India, are the few factors creating a lucrative opportunity for the growth of the cancer vaccine market in the Asia-Pacific region.
Major market player included in this report are:
Bio-Rad Laboratories, Inc.
Bristol-Myers Squibb Company
Exact Sciences Corporation
F.Hoffmann-La Roche Ltd.
Thermo Fisher Scientific, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Profiling Technology:
By Cancer Type:
Drug Discovery and Development
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Cancer Biomarkers Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers