DUBLIN--(BUSINESS WIRE)--The "Global Cancer Biomarkers Market by Type (Protein, Genetic), Cancer (Lung, Breast, Leukemia, Melanoma, Colorectal), Profiling Technology (Omics, Imaging, Immunoassay, Bioinformatics), Application (Diagnostics, R&D, Prognostics), Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global cancer biomarkers market is projected to reach USD 28.2 billion by 2026 from USD 12.4 billion in 2021, at a CAGR of 17.7%
Market growth is driven by factors such as the rising technological advancements In the development of cancer biomarkers and the increasing incidence of cancer worldwide. On the other hand, challenges associated with cancer biomarker validation and shortage of skilled professionals are the major factors hampering the growth of this market.
The protein biomarkers segment accounted for the highest growth rate in the cancer biomarkers market, by biomarker type, during the forecast period
The cancer biomarkers market is segmented into protein biomarkers, genetic biomarkers and other cancer biomarkers based on biomarkers type. In 2020, the protein biomarkers segment accounted for the highest growth rate in the cancer biomarkers market. Increasing incidence of cancer worldwide and increasing R&D on cancer biomarkers are major factors contributing to the growth of this segment.
The breast cancer segment accounted for the highest growth rate in the cancer biomarkers market, by cancer type, during the forecast period
The cancer biomarkers market is segmented into breast cancer, lung cancer, colorectal cancer, prostate cancer, melanoma, leukaemia, thyroid cancer, bladder cancer, non-Hodgkin's lymphoma, kidney cancer and other cancer types based on cancer type. In 2020, the breast cancer segment accounted for the highest growth rate in the cancer biomarkers market. Rising technological advancements In the development of cancer biomarkers and increasing incidence of cancer worldwide are major factors contributing to the growth of this segment.
Bioinformatics segment accounted for the highest CAGR
Based on profiling technologies, the cancer biomarkers market has been segmented into omics technologies, imaging technologies, immunoassay, bioinformatics and cytogenetics. In 2020, the bioinformatics segment accounted for the highest CAGR. This can be attributed to the increasing use of cancer biomarkers in drug discovery & development.
The diagnostics segment accounted for the highest share
Based on application, the cancer biomarkers market has been segmented into diagnostics, research & development, prognostics, risk assessment and other applications. In 2020, the research & development segment accounted for the highest CAGR. This can be attributed to the increasing use of cancer biomarkers in drug discovery & development and increasing R&D on cancer biomarkers.
Asia Pacific: The fastest-growing region in cancer biomarkers market
The global cancer biomarkers market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific region is projected to register the highest CAGR during the forecast period. Rising technological advancements In the development of cancer biomarkers and increasing incidence of cancer worldwide are driving the growth of the cancer biomarkers market in this region.
Competitive landscape
The key players in this market are F. Hoffmann-La Roche Ltd. (Switzerland), Thermo Fisher Scientific Inc. (US), QIAGEN N.V. (Netherlands), Illumina, Inc. (US), Bio-Rad Laboratories, Inc. (US), Abbott Laboratories (US), bioMerieux SA (US), Becton, Dickinson and Company (US), Merck Millipore (US), and Agilent Technologies (US).
Premium Insights
- Rising Technological Advancements for the Development of Cancer Biomarkers to Drive Market Growth
- The Protein Biomarkers Segment is Expected to Dominate the Market During the Forecast Period
- Lung Cancer Segment to Dominate the Market During the Forecast Period
- The Omics Technologies Segment is Expected to Dominate the Market During the Forecast Period
- Hospitals Segment to Dominate Market During Forecast Period
- Asia-Pacific to Register Highest Growth Rate During Forecast Period
Market Dynamics
Drivers
- Rising Technological Advancements in the Development of Cancer Biomarkers
- Increasing Incidence of Cancer Worldwide
- Increasing Use of Cancer Biomarkers in Drug Discovery & Development
- Increasing R&D on Cancer Biomarkers
Restraints
- Technical Issues Related to Sample Collection and Storage
- High Capital Investments and Extensive Timelines for the Development of Cancer Biomarkers
- Unfavorable Regulatory and Reimbursement Scenario
Opportunities
- Increased Recognition of Personalized Medicine
- Growing Application Areas of Companion Diagnostics
- Emerging Economies
Challenges
- Challenges Associated with Cancer Biomarker Validation
- Shortage of Skilled Professionals
Pessimistic, Optimistic, and Realistic Scenarios
Pricing Analysis
Patent Analysis
Regulatory Analysis
- Introduction
- Cancer Biomarkers Qualification in the US
- Cancer Biomarkers Qualification in the EU$
- Cancer Biomarkers Acceptance in Drug Development in the EU and the US
- Method: EMA Approvals
- Method: FDA Approvals
Trends/Disruptions Impacting the Business of Customers
- Revenue Sources are Shifting Towards Technology-Based Solutions due to the COVID-19 Pandemic
Companies Mentioned
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Thermo Fisher Scientific, Inc. (US)
- QIAGEN N.V. (Netherlands)
- Illumina, Inc. (US)
- Bio-Rad Laboratories, Inc. (US)
- Abbott Laboratories (US)
- bioMerieux SA (US)
- Becton, Dickinson and Company (US)
- Merck Millipore (US)
- Agilent Technologies (US)
- Myriad Genetics, Inc. (US)
- Sysmex Corporation (Japan)
- Hologic, Inc. (US)
- Quest Diagnostics (US)
- Centogene N.V. (Germany)
- PerkinElmer, Inc. (US)
- Siemens Healthineers (Germany)
- Exact Sciences (US)
- R&D Systems, Inc. (US)
- BioVision, Inc. (US)
- Olink (Sweden)
- Asuragen, Inc. (US)
- Meso Scale Diagnostics, LLC (US)
- Invivoscribe, Inc. (US)
- Seegene Technologies, Inc. (South Korea)
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