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

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

The Cancer Biomarkers Market is poised to grow at a CAGR of 13.5% during the forecast period (2022-2027).

The COVID-19 pandemic affected healthcare systems and resulted in the interruption of usual care in many healthcare facilities, exposing vulnerable patients with cancer to significant risks. The COVID-19 pandemic had a negative impact on the cancer biomarkers market, owing to the interrupted research and development activities during this period. Moreover, the SARS-CoV-2 infection can give uninterpretable results of the biomarkers. For instance, according to the data provided by Society for Endocrinology, in September 2020, biomarkers of immune response to cancer may be uninterpretable, as the robust immune response to acute viral infection could confound possible cancer-specific immune responses. Moreover, according to an article published by the National Center for Biotechnology Information, in September 2021, the United Kingdom postponed routine screening for cancer in response to the COVID-19 pandemic, in March 2020. Thus, such instances hindered the market's growth in the initial phase of the outbreak. However, the market is gaining traction as the diagnostic and surgery centers are resuming their practices to pre-pandemic levels.

Certain factors driving market growth include increased cancer incidence globally and higher acceptance of cancer treatments in developing regions; a paradigm shift in healthcare from disease diagnosis to risk assessment or early diagnosis; and increased use of biomarkers in drug development. The GLOBOCAN 2020 report published by the Global Cancer Observatory estimated the incidence and mortality of 36 cancers in 185 countries, there were an estimated 19,292,789 new cases of cancer diagnosed in 2020 and about 9,958,133 people died due to cancer all over the world. Further, as per the same source, the number of new cancer cases is expected to reach 24,044,406 by 2030, which shows an increasing prevalence of cancer around the globe. As data is generated aggressively in the healthcare sector, a few developing countries have surpassed the lack of data, and the remaining countries are likely to follow suit. This augmentation of data is expected to provide the basis for any national policy on cancer. In turn, this factor may lead to an increase in the percentage of people opting for cancer treatment. As a result, rising demand in low- and middle-income countries is expected to fuel the cancer biomarker market.

Moreover, strategic developments undertaken by market players are also anticipated to bolster the market's growth over the analysis period. For instance, in March 2022, Vela Diagnostics released new next-generation sequencing (NGS)-based panels to detect RNA and DNA cancer biomarkers from formalin-fixed paraffin-embedded (FFPE) tissue specimens. The panels are focused (60 genes) and comprehensive (525 genes). The OncoKey SL 60 Plus Panel is a targeted pan-cancer gene panel, while the OncoKey SL 525 Plus Panel is a comprehensive pan-cancer gene panel. Similarly, collaboration, mergers, and acquisitions within the industry are expected to boost the market over the forecasted period. For instance, in June 2021, Medable teamed up with Aural Analytics to evaluate remote data capture and digital biomarkers in cancer patients as part of its cancer moonshoot work.

Thus, due to the above factors, the market is expected to see robust growth during the forecast period. However, the high cost of products and reimbursement issues restrain the market studied.

Key Market TrendsLung Cancer Segment is Expected to Hold a Major Market Share in the Cancer Biomarkers Market

As per the 2020 statistics published by the American Society of Clinical Oncology, lung cancer is the second most common type of cancer and the leading cause of death worldwide (caused by any type of cancer) among men and women. Lung cancer is caused by the uncontrolled growth of abnormal cells that multiply in one or both lungs. Although it can affect people who have never smoked, people who have smoked have the highest risk of lung cancer. The risk of lung cancer increases with the duration and number of cigarettes that the patient smokes. Other risk factors include occupational or environmental exposure to second-hand smoke, asbestos, certain metals, some organic chemicals, radiation, air pollution, and diesel exhaust.

The primary factors driving the growth of this segment are the rising prevalence and incidence of lung cancer. According to the GLOBOCAN statistics 2020, in 2020, the total estimated new cases of lung cancer were 170,619 in the Southeast Asia region; 1,071,865 in the Western Pacific region; 51,316 in the WHO East Mediterranean region; and 26,918 in the WHO Africa region. Some of the biomarkers for lung cancer include CYFRA 21-1, Plasma Kallikrein (KLKB1), Serum Amyloid A (SAA), Haptoglobin β Chain (Hp β), Complement Component 9 (C9), Endoglin (CD105), Peroxiredoxin 1 (PRX1), and Pro-gastrin-releasing Peptide (proGRP).

Likewise, strategic initiatives undertaken by companies operational in the market are expected to impel the segment's growth. For instance, in April 2021, Amgen announced the launch of Biomarker Assist, an initiative intended to make biomarker testing more accessible to patients with metastatic (stage IV) non-small cell lung cancer (NSCLC). Biomarker Assist can help eligible patients save money on biomarker testing.

Moreover, with such a high incidence rate of lung cancer across the world, the demand for diagnostic devices is sure to rise, in turn, leading to the growth of this segment in the years to come.

North America Dominates the Market and is Expected to do the Same Over the Forecast Period

The United States has witnessed a considerable rise in the number of cancer patients. Breast cancer can occur both, in men and women. However, it is mostly found among females and the male occurrence of breast cancer is very rare. For instance, according to the data provided by Breastcancer.org, in March 2022, an estimated 287,850 new cases of invasive breast cancer are expected to be diagnosed in women in the United States, along with 51,400 new cases of non-invasive (in situ) breast cancer in 2022.

The ease of United States government regulations and the availability of funds from various organizations, like the National Institute of Health, has provided the potential for researchers to invest more in the use of biomarkers in drug discovery, drug development, the detection of specific tumors, monitoring biological response to cancer therapy, and genetic studies for the identification of predisposed candidates for cancer.

Additionally, the high concentration of key players in North America, increasing United States Food and Drug Administration approvals along with strategic alliances, and high investment in research and development activities are expected to boost the market in the region. For instance, in April 2022, researchers at Clarkson University in New York discovered a set of protein biomarkers that could be used to screen for breast cancer in breast milk or blood serum. The biomarkers were discovered for a kind of cancer termed invasive ductal carcinoma (IDC), which is one of the most common types of breast cancer. The researchers claim, however, that their method might be applied to find biomarkers for different types of breast cancer as well.

Thus, due to the aforementioned factors, the cancer biomarkers market is expected to grow over the coming years in the North American region.

Competitive Landscape

The cancer biomarkers market is highly competitive and consists of a few major players. Some of the companies which are currently dominating the market are 23andMe, Abbott Laboratories Inc., Agilent Technologies, Ambry Genetics, Biomerieux, Celera Corporation (Quest Diagnostics), F. Hoffmann-La Roche Ltd, Hologic Inc., Illumina Inc., and Thermo Fisher Scientific, among others, hold substantial shares in the market.

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