Cancer Biomarker Market Size was valued at USD 27.3 Bn in 2023 and is predicted to reach USD 38.9 Bn by 2031 at a 4.7% CAGR during the forecast period for 2024-2031.
The cancer biomarker market is witnessing rapid growth due to increasing cancer incidences and advancements in diagnostic technologies. Biomarkers like PSA, CA125, and BRCA1/2 are crucial for early detection, prognosis, and personalized treatment. Factors such as rising awareness, government initiatives, and investments in R&D are driving market expansion. Additionally, liquid biopsy techniques and next-generation sequencing are gaining prominence for non-invasive and accurate cancer diagnosis. However, challenges like high costs, stringent regulatory frameworks, and limited specificity hinder market growth. Overall, the cancer biomarker market is poised for significant expansion, propelled by technological advancements and increasing demand for personalized medicine. The increasing incidence of cancer, followed by awareness for early diagnosis, growing investments in research and development of cancer biomarkers, and extensive use of these biomarkers for diagnosis, drug discovery, and development are the key factors for the growth of this market.
The COVID-19 pandemic adversely impacted the cancer biomarker market, causing disruptions in supply chains, delayed diagnosis and treatment, and reduced healthcare access. However, the market showed resilience with increased focus on research for COVID-19-related biomarkers and a shift towards telemedicine and remote patient monitoring, driving digital biomarker adoption.
Competitive Landscape
Some of the Major Key Players in the Cancer Biomarker Market are
- Agilent
- ARUP Laboratories
- BioReference
- Foundation Medicine
- OncoDNA
- Q² Solutions
- Thermo Fisher Scientific
- YuceBio
- Asper Biogene
- Caris Life Sciences
- CeGaT
- Genekor Medical
- Guardant Health
- Labcorp
- MedGenome
- NeoGenomics Laboratories
- Nonacus
- Oxford Gene Technology
- Personal Genome Diagnostics
- PhenoPath
- Positive Biosciences
- Quest Diagnostics
- Tempus
Market Segmentation:
In the cancer biomarker market, segmentation is based on the type of biomarkers and type of cancers. Biomarkers type segmentation includes Human Epidermal Growth Factor Receptor 2 (HER2), Mesenchymal Epithelial Transition (MET), Epidermal Growth Factor Receptor (EGFR), Programmed Death-Ligand 1 (PD-L1), Neurotrophic Tyrosine Receptor Kinase (NTRK), Anaplastic Lymphoma Kinase (ALK) and Other Biomarkers. The types of cancers include breast cancer, prostate cancer, colorectum cancer, lung cancer, thyroid cancer, bladder cancer, melanoma, non-Hodgkin lymphoma, endometrial cancer, kidney cancer, and leukemia.
Based on Biomarkers, the HER2(Human Epidermal Growth Factor Receptor 2 Segment is Accounted as a Major Contributor in the Market
The HER2 segment in the cancer biomarker market is a key area of focus, particularly in breast cancer diagnostics and treatment. HER2 is overexpressed in around 20% of breast cancers, making it a critical biomarker for prognosis and targeted therapy. The development of HER2-targeted therapies like trastuzumab has significantly improved patient outcomes. Continuous research in HER2 detection methods and personalized treatment strategies further drives growth in this segment.
Breast Cancer Biomarkers Segment Witnessed Growth at a Rapid Rate.
The breast cancer biomarker segment is pivotal in early detection, prognosis, and personalized treatment of breast cancer. Additionally, novel biomarkers such as circulating tumor DNA (ctDNA) and microRNAs are being explored for their potential to improve diagnostic accuracy and monitor treatment response.
In the Region, the North American Cancer Biomarker Market Holds a Significant Revenue Share.
The North America cancer biomarker market is expected to register the highest market share. It can be due to its pharmaceutical industry and technological advancements. Additionally, North America has witnessed a tremendous increase in the adoption of biomarker testing for oncological disorders. The presence of a skilled workforce, advanced infrastructure, and a favorable business environment further results in the region's growth in the cancer biomarker market. In addition, Asia Pacific is estimated to grow at a rapid rate in the global Cancer Biomarker Market due to growing concerns about rapid industrialization, government initiatives, and increasing funding in various industries.
Recent Developments
- In November 2023, Agilent received FDA approval for PD-L1 IHC 22C3 pharmDx in gastric or gastroesophageal junction (GEJ) adenocarcinoma.
- In December 2022, QIAGEN received FDA approval for a companion diagnostic to Mirati Therapeutics' KRAZATI in non-small cell lung cancer.
- In November 2022, Biocare Medical, a leading provider of innovative, automated immunohistochemistry (IHC) and FISH (Fluorescent in situ hybridization) instrumentation and reagents, acquired Empire Genomics, a market leader in molecular biomarkers to aid in cancer research and diagnostics.
- In May 2022, Illumina introduced a new pan-cancer companion diagnostic to match patients with rare genetic mutations to targeted therapy.
Cancer Biomarker Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 27.3 Bn |
|
Revenue Forecast In 2031 |
USD 38.9 Bn |
|
Growth Rate CAGR |
CAGR of 4.7% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Type of Biomarkers, Type of Cancer |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; Southeast Asia; South Korea |
|
Competitive Landscape |
Agilent, ARUP Laboratories, BioReference, Foundation Medicine, OncoDNA, Q² Solutions, Thermo Fisher Scientific, YuceBio, Asper Biogene, Caris Life Sciences, CeGaT, Genekor Medical, Guardant Health, Labcorp, MedGenome, NeoGenomics Laboratories, Nonacus, Oxford Gene Technology, Personal Genome Diagnostics, PhenoPath, Positive Biosciences, Quest Diagnostics, and Tempus. |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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