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global cancer biomarker market to Witness Steady Expansion During 2019-2027

Overview:

 

The global cancer biomarker market is making significant progress and is expected to register a CAGR of 15.8% during the forecast period of 2018 to 2023. Market Research Future (MRFR) studied various cancer biomarkers market trends to understand various dynamics that can impact the growth of the market.

 

Drivers Restraints:

 

The global market for cancer biomarkers is expected to boost from the rising investment in research and development projects that are constantly trying to launch better products and improve the accuracy level. Both governments and private bodies are spending substantial amounts to back the market to get hold of better quality clinical cancer biomarkers. This market is getting impacted a lot by an unhealthy lifestyle as the latter triggers chances of developing the disease. Also, the expanding cancer tumor profiling market is expected to boost the global market. FDA is also showing significant interest in providing tailwinds.

 

However, the market is still expected to get dampened by the fact that these biomarkers often display a low-level of the outcome. This muddles the chances of getting good reimbursement policies, which forces people with not so sound financial background to opt-out.

 

Segmentation:

 

The global report on the cancer biomarker market has been segmented into types, applications and end users. These segments have data that have been fetched by analysts and studied on the basis of factors, drivers, figures, graphs, and charts, which make them more reliable.

 

By types, the report on the cancer biomarker market discusses segments like genetic biomarker, protein biomarker, and others.

 

By application, the study containing details of the cancer biomarker market has been segmented into prognostic, diagnostic, and therapeutic. The diagnostic segment includes imaging and non- Imaging. The imaging segment is slated to grow substantially due to the rising demand for better diagnosis and treatment.

 

By end users, the global cancer biomarker market has been studied on the basis of segments, including diagnostic tool companies, healthcare it/big data companies, pharmaceutical and biotechnology companies, and clinical laboratories.

 

Regional Analysis:

 

The Americas leads the global market in terms of both volume and value. This is due to the infrastructural superiority, inclusion of top-end technologies, continuous influx of investment, awareness among people, government initiatives, private interests, and others. Research-related activities are flourishing in countries like the US and Canada. In Europe, the market will grow with government support. However, the market is not expected to be deterred much by the ongoing COVID-19 crisis.

 

Competitive Landscape:

 

Becton Dickinson (U.S.), F. Hoffmann-La Roche AG (Switzerland), Bristol-Myers Squibb (U.S.), Bio-Rad Laboratories (U.S.), PerkinElmer, Inc. (U.S.), Merck Co., Inc. (U.S.), Pfizer Inc. (U.S.), Abbott Laboratories (U.S.), Novartis AG (Switzerland), Thermo Fisher Scientific Inc. (U.S.), GlaxoSmithKline plc. (U.S.), QIAGEN N.V (U.S.), Eli Lilly and Company (U.S.), Illumina Inc. (U.S.), and others are expected to play crucial roles in taking the global cancer biomarker market forward. These companies deploy measures, including innovations, product launch, branding, collaboration, heightened research investment, merger, and acquisition, among others. MRFR tracks these moves to understand the impact of these players and how much they are getting inspired by trends. This helps in gauging the market prospect.

 

Industry News:

 

In June 2020, researchers from PureTech revealed that therapies targeting galectin-9 are helping in the impediment of tumors. The report also includes galectin-9 as a major biomarker that can help in segmenting patients.

 

In June 2020, ARTIDIS AG announced that its nanotechnology platform for cancer diagnosis reached the primary endpoint in the “NANO” clinical study. It was designed to provide studies on nanomechanical biomarkers and evaluate breast biopsies.

 

Cancer Biomarker Market Research Report: By Types (Protein Biomarker, Genetic Biomarker), By Applications (Diagnostic, Prognostic, Therapeutic), By End Users (Pharmaceutical and Biotechnology Companies, Diagnostic Companies) – Forecast till 2023

Cancer biomarkers biochemical entities that are released during the presence of a tumor, indicating the presence of cancer in the body. Targeting biomarkers in cancer treatment are becoming a standard in the era of precision medicine. Market Research Future (MRFR) has thoroughly studied the trends and patterns in the global Cancer Biomarker Market over the forecast period of 2017-2023 in a detailed study. MRFR asserted that the cancer biomarker is likely to strike a CAGR of 15.8% over the forecast period.

 

The increasing burden of oncological disorders has resulted in the move towards early detection and preventive approach towards cancer. Extensive research is being carried out to further understand the role of biomarkers and come up with new biomarkers to predict treatment effectiveness and treatment activity in various oncology disorders. This coupled with massive investment by both public, and private entities have augmented the growth of the cancer biomarker market. The growing popularity of personalized medicine is a key factor in enhancing the growth of the cancer biomarker market. Personalized medicine hinges on biomarkers in extracting information that is relevant for diagnosis, prognosis, and therapy and is core to the personalized medicine field. Biomarker-driven approach can accelerate the drug development process in cancer, and various pharmaceutical companies are outlaying massive investments in RD activities which are expected to augment the growth of the market over the forecast period. Furthermore, cancer biomarkers are an area of active research of the US FDA. Recent years have witnessed the approval of various cancer biomarkers and has paved the way for the expansion of the cancer biomarker market.

 

On the contrary, low benefit-cost ratio associated with the development of cancer biomarkers is likely to restrain the growth of the global cancer biomarker market.

Segmentation

The global cancer biomarker market has been segmented based on type, application, and end user.

 

By type, the cancer biomarker market has been segmented into protein biomarker, genetic biomarker, and others.

 

By application, the cancer biomarker market has been segmented into diagnostic, prognostic and therapeutic. The diagnostic segment has been further segmented into imaging and non- Imaging.

 

By end user, the cancer biomarker market has been segmented into pharmaceutical and biotechnology companies, diagnostic tool companies, healthcare it/big data companies, clinical laboratories

 

Browse Complete Report : https://www.marketresearchfuture.com/reports/cancer-biomarker-market-5378

 

Regional Analysis

By region, the cancer biomarker market has been segmented into the Americas, Asia Pacific (APAC), Europe, and the Middle East Africa (MEA).

 

The Americas account for the largest share of the cancer biomarker market. The high incidence rate of cancer and rapid advances in the cancer biomarker arena to come up with new drugs and effective therapies is supporting the growth of the market.

 

The Europe market is driven by rigorous clinical trials and government funding for the same.

 

The influx of investment for RD by both public and private sector is driving the growth of the APAC cancer biomarker market. In addition, increasing prevalence of cancer has evoked extensive RD activities for the development of new therapies and drugs.

 

MRFR projects relatively slow growth in the MEA cancer biomarker market. Low penetration of advanced diagnostics and treatment facilities and lack of awareness hinders the growth of the market.

 

Competitive Landscape

  1. Hoffmann-La Roche AG (Switzerland), PerkinElmer, Inc. (U.S.), Bristol-Myers Squibb (U.S.), Novartis AG (Switzerland), Thermo Fisher Scientific Inc. (U.S.), Bio-Rad Laboratories (U.S.), Merck Co., Inc. (U.S.), Becton Dickinson (U.S.), Abbott Laboratories (U.S.), Pfizer Inc. (U.S.), QIAGEN N.V (U.S.), GlaxoSmithKline Plc. (U.S.), Illumina Inc. (U.S.),andEli Lilly and Company (U.S.) are the distinguished players in the cancer biomarker market.

 

Industry Updates

April 2019 – Scientists at the University of Southern California, US, are researching the presence of polymorphisms, specific genes known for detecting the presence of cancerous cells. The success of these findings can culminate in the use of these markers for detecting colorectal cancer at a preventive stage.