cancer biomarkers market is estimated to be valued at US$ 21,643.9 million in 2022 and is expected to exhibit a CAGR of 14.4% during the forecast period -2030

BURLINGAME, CALIFORNIA , UNITED STATES, January 7, 2024 /EINPresswire.com/ -- Market Overview:

Cancer biomarkers are biomolecules found in blood, tissue or other body fluids that can be used to detect and monitor cancer. Biomarkers are used to diagnose, predict response to treatment and risk of recurrence of cancer.

Market Dynamics:

The cancer biomarkers market is estimated to witness high growth owing to the rising incidence of cancer globally. According to WHO, cancer accounted for nearly 10 million deaths in 2020 and is a major cause of death worldwide. Early detection of cancer improves treatment outcomes, survival rate and quality of life. Cancer biomarkers play a crucial role in early detection by aiding in screening, diagnosis, prognosis and predicting response to cancer therapies. Advances in genomics and proteomics have expanded the number of biomarkers available for clinical use in oncology which is further expected to drive the market growth over the forecast period.

The global cancer biomarkers market is estimated to be valued at US$ 21,643.9 million in 2022 and is expected to exhibit a CAGR of 14.4% during the forecast period (2022-2030).

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Increasing prevalence of cancer globally is driving the Cancer Biomarkers market

The rising prevalence of various types of cancers such as lung cancer, breast cancer, prostate cancer, colorectal cancer, leukemia, bladder cancer and lymphoma globally is a major driver for the cancer biomarkers market. Research has found that nearly 1 in 6 deaths globally is due to cancer and its burden is increasing every year. As per WHO estimates, global cancer burden is expected to grow to 27.5 million new cancer cases and 16.3 million cancer deaths by 2040. This increasing prevalence of cancer diseases is driving the demand for advanced diagnostic and treatment solutions like cancer biomarkers which can help in early detection of cancer and selection of effective treatment options.

Advancements in cancer genomics and proteomics is enhancing biomarker discovery and driving the market

Growing advancements in areas of cancer genomics and proteomics are accelerating the discovery of novel biomarkers which can help in more precise diagnosis, prognosis and selection of targeted therapies. Technologies like next generation sequencing, bioinformatics and high content proteomics are allowing researchers to analyze cancer at molecular level from biopsy samples and identify DNA, RNA and protein biomarkers which can act as accurate indicators of cancer presence, behavior and response to treatment. These advancements are enhancing biomarker discovery and development which is fueling the growth of cancer biomarkers market.

Lack of regulatory guidelines and standardization is restraining the market growth

Despite rapid advancements, lack of well-defined regulatory frameworks and standardization continues to restrain the widespread adoption and commercialization of cancer biomarkers. Absence of standard guidelines for preclinical validation, clinical utility trials and regulatory approvals of biomarker tests is limiting their acceptance in clinical settings. Issues related to analytical validity, clinical validity and clinical utility need to be addressed through careful research and well-defined regulatory frameworks. This lack of standardization and regulatory barriers poses a challenge for cancer biomarkers to demonstrate their real clinical benefits and gain global approval, thereby restraining the market growth.

Liquid biopsy driven cancer biomarkers presents a lucrative market opportunity

Liquid biopsy driven cancer biomarkers which analyze blood samples for circulating tumor cells, circulating tumor DNA or exosomes represent a major emerging opportunity for the market. Liquid biopsies offer significant advantages over tissue biopsies as they are non-invasive, can be performed repeatedly to monitor treatment response and help in early detection of cancer. Growing preference for minimally invasive procedures and increasing success of liquid biopsy clinical validation studies is expected to drive their widespread adoption. This would open up opportunities for companies to develop high performing liquid biopsy tests towards early detection and monitoring of cancers.

Integration of AI and machine learning is emerging as a major trend in cancer biomarkers market

Integration of artificial intelligence and machine learning is emerging as a promising trend in cancer biomarkers market which can help in further advancing biomarker discovery, assist clinical decision making and drive personalized treatment approaches. AI and deep learning algorithms are proving useful in analyzing large and complex biomarker and genomic datasets to identify patterns and predict cancer occurrence, progression, prognosis and treatment outcomes. Their use in clinical settings is also supporting faster and more accurate biomarker test results. Growing AI investments and its improving capabilities indicate that AI powered cancer biomarkers hold significant potential to propel the next stage of precision oncology.

Moreover, it will also include the opportunities available in micro markets for stakeholders to invest, a detailed analysis of the competitive landscape, and product services of key players. Analysis of Cancer Biomarkers companies, key tactics followed by Leading Key Players:

◘ bioMérieux Inc.
◘ INOVIQ
◘ Bio-Rad Laboratories Inc.
◘ Abbott
◘ Becton
◘ Dickinson and Company
◘ Merck KgaA
◘ QIAGEN
◘ Thermo Fisher Scientific Inc.
◘ CENTOGENE N.V.
◘ PerkinElmer Inc.
◘ Siemens Healthcare Private Limited

Note: Major Players are sorted in no particular order.

By Biomarker Type:

Protein Biomarkers
Genetic Biomarkers
Other Cancer Biomarkers

By Cancer Type:

Breast Cancer
Lung Cancer
Prostate Cancer
Kidney Cancer
Liver Cancer
Other Cancers

By End User:

Hospitals
Academic and Cancer Research Institutes
Ambulatory Surgical Centers
Cancer Diagnostic Laboratories

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The Study Objectives are:

A comprehensive insight into key players operating in the Cancer Biomarkers Market and their corresponding data.
It includes product portfolio, annual revenue, expenditure on research and development, geographical presence, key developments in recent years, and growth strategies.
Regional analysis, which includes insight into the dominant market and corresponding market share.
It also includes various socio-economic factors affecting the evolution of the market in the region.
The report offers a comprehensive insight into different individuals from value chains such as raw materials suppliers, distributors, and stockholders.
Table of Contents:

Market scenario 2023

Chapter 1: Introduction, Market Driving Force Product Objective of Study and Research Scope the Cancer Biomarkers market
Chapter 2: Exclusive Summary - the basic information of the Cancer Biomarkers Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends, and Challenges & Opportunities of the Cancer Biomarkers
Chapter 4: Presenting the Cancer Biomarkers Market Factor Analysis, Supply/Value Chain, PESTEL analysis, Market Entry, and Patent/Trademark Analysis.
Chapter 5: Displaying the by Type, End User, and Region/Country 2023 - 2030
Chapter 6: Evaluating the leading manufacturers of the Cancer Biomarkers market which consists of its Competitive Landscape, Peer Group Analysis, Market positioning & Company Profile
Chapter 7: To evaluate the market by segments, by countries, and by Manufacturers/Companies with revenue share and sales by key countries in these various regions (2023-2030)
Chapters 8 & 9: Displaying the Appendix, Methodology, and Data Source

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Key Questions Answered:

What is the market size and CAGR of the Cancer Biomarkers Market during the forecast period?
How is the growing demand impacting the growth of Cancer Biomarkers Market shares?
What is the growing demand of the Market during the forecast period?
Who are the leading vendors in the market and what are their market shares?
What is the impact of the COVID-19 pandemic on the APAC Cancer Biomarkers Market?

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