Asia-Pacific Cancer Biomarkers Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Asia-Pacific Cancer Biomarkers Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Asia-Pacific cancer biomarkers market is expected to register a CAGR of nearly 12.5% during the forecast period. There has been a paradigm shift in healthcare, from diagnosis, after the symptoms have appeared, to early diagnosis or risk assessment, especially in countries, such as China, India, Japan, etc.

Cancer is one of the leading causes of death across Asian countries. According to a report published by Janssen Asia Pacific, in 2017, overall, there were 11,923 new cases of leukaemia, lymphoma, and myeloma in Australia. Additionally, three types of blood cancers tracked by the National Cancer Center (malignant lymphoma, multiple myeloma, and leukaemia) made up about 5% of all cancers in Japan. India has the third-highest number of blood cancer patients in the world, after the United States and China. Cancer rate has witnessed significant growth in the last few decades and is expected to increase rapidly during the forecast period. Other major driving factors for the market are streamlined drug delivery process, non-invasive technology, and increased rates of survival. On the other hand, the high cost of diagnosis and products, reimbursement issues, and the need for immediate processing are hindering the market.

Key Market TrendsProtein Biomarkers is Expected to Grow with High CAGR in the Asia-Pacific Cancer Biomarkers Market

The protein biomarkers segment is anticipated to hold a significant market share during the forecast period, due to the wide range of usage, high-reliability rate, and easier analysis of protein biomarkers. Most of the malignancies are detected with the help of protein biomarkers. Extensive research is being done, regarding the development of novel protein biomarkers, by government organizations. As per Cancer Council Australia, bowel cancer or colorectal cancer is the second most common cancer in both men and women in Australia and is more common in people over 50 years of age. In 2016, there were about 5,375 deaths caused by colorectal cancer in Australia. This number represents the second-highest number of cancer deaths in Australia.

Furthermore, Growing collaborations and partnerships between government organizations and pharmaceutical companies for the development of biomarkers are estimated to boost the growth of this segment.

Competitive Landscape

The Asia-Pacific cancer biomarkers market is fragmented, due to the presence of more number of market players, and as these players are focusing on R&D, market expansions, partnerships, and mergers, in order to experience stable growth.

The market has been noticing technological developments on a large scale for the past couple of years. In March 2018, Ningbo My-BioMed Biotechnology Co. Ltd (MBM) and Oxford Cancer Biomarkers Ltd (OCB) launched ColoProg in China. In February 2019 Genomica and HuaSin entered into an agreement, by which HuaSin obtained exclusive rights to develop and produce a fully automated HPV genotyping assay platform that uses Genomica's technology. Some of the market players are Abbott Laboratories Inc., Affymetrix Inc. (Thermo Fisher Scientific), Agilent Technologies, Biomerieux, Celera Corporation (Quest Diagnostics), Hologic Inc., Illumina Inc., Merck & Co., Qiagen NV, and Roche Diagnostics.

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Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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