Cancer Biomarkers Market Forecasts to 2028 – Global Analysis By Cancer Type (Melanoma, Bladder Cancer and Other Cancer Types), Product (Software, Consumables and Other Products), Profiling Technologies (Immunoassay, Omics Technologies and Other Profiling

Cancer Biomarkers Market Forecasts to 2028 – Global Analysis By Cancer Type (Melanoma, Bladder Cancer and Other Cancer Types), Product (Software, Consumables and Other Products), Profiling Technologies (Immunoassay, Omics Technologies and Other Profiling Technologies), Application (Prognostics, Diagnostics and Other Applications), Biomarkers Type, Service and By Geography

According to Stratistics MRC, the Global Cancer Biomarkers Market is accounted for $14.70 billion in 2022 and is expected to reach $40.92 billion by 2028 growing at a CAGR of 18.6% during the forecast period. In oncology, biomarkers are substances that a tumour or a particular human body reaction secretes to indicate the presence of malignancy. Using diverse genomes and proteomics methods, biomarkers enable early cancer detection and quick, noninvasive diagnosis of the disease. Applications for biomarkers include prognostics, personalised medicine, drug research and development, and cancer diagnosis.

According to, the National Cancer Institute, in 2018, an estimated 1,735,350 new cases of cancer was diagnosed in the United States. According to the World Cancer Research Fund International, an estimated 18.0 million people were suffering from globally in 2018. Lung and breast cancers were the most common cancers reported globally, contributing to 12.3% of the total number of the cases diagnosed in 2018.

Market Dynamics:

Driver:

Rising prevalence of cancer

Cancer biomarkers are widely utilised in personalised medicine, companion diagnostics, and other disease diagnostics, including risk assessment for disease and drug development. One of the primary factors anticipated to propel the growth of the cancer biomarkers market during the forecast period is the increasing utilisation of biomarkers in disease diagnosis. Globally increasing rates of cancer are driving up demand for early disease detection and, in turn, driving the market's expansion. The demand for cancer diagnostics and treatment is expected to raise as the prevalence of cancer biomarkers increases in both emerging and developed nations.

Restraint:

High treatment cost

An international issue that jeopardises patient access to care and the effectiveness of cancer therapy is the rising price of cancer medications. The cost of drugs varies widely between different countries. In nations without universal health coverage, patients must pay for their medical care. Most patients in low- and middle-income countries cannot afford novel cancer therapies. The most serious risks are to younger patients, new immigrants, people of colour, and those without private health insurance. Value-based oncology treatment pricing can promote the creation of better therapeutics and cut down on unnecessary spending.

Opportunity:

Presence of potential pipeline candidates

The pharmaceutical sector has made a large investment in the search for novel biomarkers that can be used to monitor and identify cancer. Several contenders' development cycles are coming to a close. This is expected to significantly increase market growth. For instance, Lund University Hospital is working with the South Sweden Breast Cancer Group to undertake clinical trials comparing the efficiency and safety of atorvastatin. The creation of new biomarkers for the early diagnosis of cancer should be advantageous for the oncology biomarker sector. Due to the growing availability of cancer biomarker-related goods and diagnostics, the market is anticipated to expand.

Threat:

Lack of reimbursement policies for biomarker testing

The lack of reimbursement policies for biomarker testing in emerging and developed nations is one of the factors that is restricting the demand for these biomarkers globally, despite the rising prevalence of cancer around the world and the growing number of patients needing diagnostic tests. The high cost of cancer diagnosis and treatment in developing nations is another significant issue limiting the market's growth. Due to this, fewer patients are having biomarker testing, and more patients are favouring other inexpensive detection methods.

Covid-19 Impact

The COVID-19 pandemic had a negative impact on the cancer biomarkers market, owing to the interrupted research and development activities during this period. Additionally, the SARS-CoV-2 infection can produce biomarker data that are difficult to interpret. For instance, according to information supplied by the Society for Endocrinology in September 2020, indicators of the immunological response to cancer may be difficult to interpret due to the potential confounding effect of the strong immune response to acute viral infection. In addition, the U.K. delayed normal cancer screening as a result of the COVID-19 pandemic, according to a National Centre for Biotechnology Information report.

The breast cancer segment is expected to be the largest during the forecast period

The breast cancer segment is estimated to have a lucrative growth. A huge patient pool undergoing diagnostic testing is a result of the rising incidence of breast cancer and increased awareness of the diagnosis of the disease. Some of the key reasons influencing the growth of the breast cancer segment include this along with an increase in research activities concentrating on new biomarkers for breast cancer detection.

The diagnostics segment is expected to have the highest CAGR during the forecast period

The diagnostics segment is anticipated to witness the fastest CAGR growth during the forecast period, due to advancements in cancer detection and therapy, the emphasis has switched from immediate objectives like curing the disease to longer-term objectives like improving the quality of life for cancer survivors, particularly those with paediatric tumours. It is anticipated that the growing acceptance of companion diagnostic tests for cancer treatments will bolster market growth.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the high number of cancer cases in the region. Rising public awareness of the need of early cancer detection is one of the primary factors propelling the market's revenue growth in this area. Additionally, a significant population base in the area contributes to the market's revenue growth.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period. There has been the identification of a critical biomarker for estimating cancer risk and early cancer detection. A quantitative method to determine when someone is likely to develop cancer is provided by biomarkers, especially those linked to hereditary factors. The growing demand for cancer diagnostics, which is powered by the rising incidence rates of different malignancies, is what is driving market expansion in this region.

Key players in the market

Some of the key players profiled in the Cancer Biomarkers Market include Abbott Laboratories, Myriad Genetics, Inc., F. Hoffmann-LA Roche Ltd., Asuragen, Inc., Biomérieux SA, Seegene Technologies, INC., Thermo Fisher Scientific INC., R&d Systems, Inc., Becton Dickinson and Company, Qiagen N.V., Hologic, Inc., Illumina, Inc., Bio-Rad Laboratories, INC., Agilent Technologies and Merck Millipore.

Key Developments:

In March 2021, Roche made an announcement that company has received the approval from US Food and Drug Administration for VENTANA ALK (D5F3) CDx Assay as a companion diagnostic. This assay test is the only test which was approved by FDA for as a companion diagnostic for LORBRENA and will help in identifying patients with this cancer biomarker quickly so they can be given more effective treatment.

In November 2020, Agilent Technologies Inc. made an announcement of the launch of the Biomarker Pathologist Training Program which is a worldwide initiative built to enable pathologists to score biomarkers precisely. The program initially was available in Europe and North America, along with China and Asia which utilizes a digital platform.

In July 2020, Thermo Fisher Scientific has announced that the company has signed a companion diagnostic (CDx) agreement with Chugai Pharmaceutical Co., Ltd., and has applied to the Ministry of Health, Labour and Welfare (MHLW) to increase the use of the Oncomine Dx Target Test in Japan. This agreement focuses on accelerating the local biomarker testing of NSCLC patients eligible for entrectinib in Japan.

Cancer Types Covered:
• Melanoma
• Bladder Cancer
• Breast Cancer
• Kidney Cancer
• Prostate Cancer
• Lung Cancer
• Non-Hodgkin's Lymphoma
• Colorectal Cancer
• Thyroid Cancer
• Leukemia
• Other Cancer Types

Products Covered:
• Software
• Consumables
• Growth Hormone Therapy
• Services
• Other Products

Profiling Technologies Covered:
• Immunoassay
• Omics Technologies
• Cytogenetics
• Imaging Technologies
• Bioinformatics
• Other Profiling Technologies

Applications Covered:
• Prognostics
• Diagnostics
• Risk Assessment
• Research & Development
• Hospitals & Specialty Clinics
• Pharmaceutical & Biotechnology Companies
• Other Applications

Biomarkers Types Covered:
• Genetic Biomarkers
• Protein Biomarkers
• Safety
• Pharmacodynamics
• Prognostic
• Surrogate
• Validation
• Efficacy
• Predictive
• Other Biomarker Types

Services Covered:
• Assay Development
• Sample Preparation
• Testing
• Biomarkers
• Other Services

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements