According to a new market research study of ‘Cancer Biomarkers Market to 2027 – Global Analysis and Forecasts by Biomarker Type, Profiling Technology, Cancer Type, and Application.’ The global cancer biomarkers market is anticipated to reach US$ 31,206.00 Mn in 2027 from US$ 12,175.69 Mn in 2018. The market is expected to grow with a CAGR of 11.1% from 2019-2027. This report highlights the trends prevalent in the global cancer biomarkers market and factors driving the market along with those that act as restraints to its growth.
In recent years, numerous FDA approvals & product launches drive the market for cancer biomarkers. Market players are engaged in the production of a wide range of cancer biomarkers that offer maximum advantages and early diagnosis. For instance, in May 2019, QIAGEN launched its first FDA-approved companion diagnostic for PIK3CA biomarkers to enhance precision medicine in breast cancer. PIK3CA Kit, the [PB1] first companion diagnostic assay are used in any cancer indication for the detection of activating mutations in the PIK3CA gene. Additionally, it is the first FDA approved assay as guiding treatment decisions in breast cancer utilizing plasma specimens as a liquid biopsy.
Moreover, In November 2017, Roche launched DISCOVERY [PB2] Teal HRP chromogen detection kit to improve tissue-based cancer research. This newest addition to the collection of modular-based detection kits is used to identify and profile biomarkers and cell populations in the tissue-based study. Thus, FDA approvals & product launches are expected to propel the growth of the cancer biomarkers market over the forecast years.
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The global cancer biomarkers market, based on profiling technology, was segmented as omics technologies, imaging technologies, immunoassays, cytogenetics, and bioinformatics. In 2018, the omics technologies segment held the largest market share of the cancer biomarkers market by profiling technology. This segment is also projected to dominate the market in 2027, owing to its capacity to investigate multiple molecules simultaneously. Moreover, this technology is progressively used in assessment and drug discovery. This market segment is also expected to grow at a significant rate in the forecast period 2019 to 2027.
The leading companies operating in the cancer biomarkers market include Bio-Rad Laboratories, Inc., Thermo Fisher Scientific, Inc., F. Hoffmann-La Roche Ltd., QIAGEN N.V., Illumina, Inc., Myriad Genetics, Inc., Hologic Inc., Quest Diagnostics Incorporated, bioMérieux S.A., and Creative Diagnostics among others. The market has observed different organic and inorganic advancements during recent years in the cancer biomarkers market. For instance, in January 2018, Thermo Fisher Scientific launched a new Oncomine TCR Beta-SR Assay, a new next-generation sequencing (NGS) solution for immuno-oncology research. The assay is designed to characterize T-cell clonality in the tumor microenvironment, which is a key approach to identify potential biomarkers associated with immune response. The launch expanded the portfolio of the company and eventually increased its customer base.
The report segments the global cancer biomarkers market as follows:
Global Cancer Biomarkers Market – By Biomarker Type
- Genetic Biomarkers
- Protein Biomarkers
- Other Cancer Biomarkers Diagnostics
Global Cancer Biomarkers Market – By Profiling Technology
- Omics Technologies
- Imaging Technologies
- Computed Tomography (CT)
- Positron Emission Tomography (PET)
- Magnetic Resonance Imaging (MRI)
- Bioinformatics Antibodies
Global Cancer Biomarkers Market – By Cancer Type
- Breast Cancer
- Lung Cancer
- Prostate Cancer
- Bladder Cancer
- Other Cancer Types
Global Cancer Biomarkers Market – By Application
- Research and Development
- Other Applications
- Global Cancer biomarkers market – By Geography
- North America
- Asia Pacific (APAC)
- South Korea
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- South & Central America (SCAM)
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