Cancer Biomarkers Market To Hit Value .7 Billion By 2025 |Grand View Research, Inc.

Posted by Mrudula Anil Karmarkar on November 22nd, 2023

San Francisco, 22 November 2023: The ReportCancer Biomarker Market Size, Share & Trends Analysis Report By Type (Breast, Prostate, Colorectal, Cervical, Liver, Lung Cancer), By Biomolecule (Genetic, Epigenetic, Metabolic, Proteomic), By Application, And Segment Forecasts, 2018 - 2025

The global cancer biomarkers market size is expected to reach a value of USD 33.7 billion by 2025, at a CAGR of 14.3% based on a new report by Grand View Research, Inc. Growing initiatives for development of drugs targeting novel cancer biomarkers coupled with the introduction of technologically advanced companion diagnostic kits is estimated to provide the market with high growth potential. Increasing awareness about personalized medicines amongst patients is further anticipated to boost adoption of cancer biomarkers.

In addition, presence of favorable government initiatives for the development of novel cancer diagnostic techniques is a key factor for market growth. For instance, the National Cancer Institute (NCI) provides funding to more than 8 research areas pertaining to cancer biomarker development. Cancer Research UK, Lung Cancer Research Foundation, and National Institutes of Health are some of the organizations providing funding for biomarker research.

People with high alcohol consumption, tobacco usage, unhealthy food habits, and sedentary lifestyle are reported to be 80% more at risk of developing cancer as compared to other individuals. Infections such as Human papillomavirus (HPV), Epstein-Barr virus, Hepatitis B virus, and Helicobacter pylori are also been studied to be related in cancer development.

Growing prevalence of malignancies coupled with increasing focus on development of targeted therapies is a major factor affirming the positive growth of this market.

Cancer is reported to be the second leading cause of mortality in the U.S. after cardiovascular disorders. Prevalence of breast, prostate, and lung malignancies has increased at a very steep rate with an estimated number of over 1,600 people being affected in the U.S. every year. In 2017, around 200,000 cases of breast cancer have been reported in the U.S.

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Increasing awareness amongst patients and healthcare professionals about the importance of early diagnosis of malignancies and rising demand for personalized medicine is anticipated to provide this cancer biomarker market with high growth opportunities in the coming decade. Diagnostic biomarkers for early diagnosis enable doctors on deciding better treatment alternatives leading to successful recovery in lesser time.

Further Key findings from the study suggest:

  • Breast cancer was the largest segment by revenue share in 2016 owing to high prevalence of this type of cancer
  • Lung cancer is estimated to be the fastest-growing type due to increasing research activities toward development of novel lung cancer biomarkers
  • Genetic biomarkers, being the highest used and easily detectable held the majority share of cancer biomarker market by biomolecule in 2016
  • However, epigenetic biomarkers are anticipated to witness lucrative growth due to increasing focus on finding the role of epigenetic modifications in cancer development
  • Cancer biomarkers are majorly used for diagnostic purpose owing to their high specificity
  • The personalized medicine segment is estimated to witness fastest CAGR of 15.0% over the forecast period
  • North America dominated in terms of revenue share in 2016 due to established R&D infrastructure and high acceptance of biomarker-based cancer testing in this region
  • Asia Pacific is anticipated to grow at a substantial growth rate till 2025 with CAGR of over 16.7%
  • Some of the major companies in the cancer biomarkers market are Abbott Laboratories; F.Hoffmann-La Roche Ltd.; QIAGEN; Thermo Fisher Scientific Inc.; Affymetrix Inc.; Illumina, Inc.; Agilent Technologies; Merck & Co. Inc.; Hologic, Inc.; Sino Biological Inc.; and Becton, Dickinson and Company

In addition, increasing regulatory approval of novel drugs and diagnostics pertaining to cancer biomarkers is estimated to increase the adoption rate. For instance, in 2016, Epigenomics AG, a company involved in the development of a novel epigenetic biomarker test announced that its Epi proColon was included by the Chinese government for colorectal cancer (CRC) screening.

Based on type, the market is categorized into breast, prostate, colorectal, cervical, liver, and lung. Breast cancer was the largest segment in 2016. Breast, lung, and prostate cancer cumulatively held the revenue share of over 40% in 2016. Increasing awareness about early testing and growing base of target population are the key factors contributing toward dominance

Cancer Biomarkers Market Report Scope

Report Attribute

Details

Revenue forecast in 2025

USD 33.7 billion

Growth rate

CAGR of 14.3% from 2018 to 2025

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2016

Forecast period

2017 - 2025

On the other hand, lung cancer is expected to witness the fastest growth over the forecast period. Growing number of diagnostic tests targeting EGFR and BRAF mutations, which act as an essential biomarker for diagnosis of non-small cell lung cancer are anticipated to accentuate the segment growth.

Recent Developments

  • In March 2023, Servier announced partnership with QIAGEN to develop new mIDH1 companion diagnostic test to support Servier’s Hemato-Oncology Portfolio. It is a step towards the development of a new companion diagnostic test that can be used to identify patients with acute myeloid leukemia (AML).
  • In January 2022, Illumina entered into a co-development partnership with SomaLogic to strengthen the two leading companies in the field of biomarker research. Illumina, a leader in next-generation sequencing (NGS), while SomaLogic, a leader in protein biomarker discovery will together accelerate the clinical opportunities.

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Mrudula Anil Karmarkar

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Mrudula Anil Karmarkar
Joined: July 2nd, 2020
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