Cancer Biomarker Market: Current Analysis and Forecast (2022-2030)

Cancer Biomarker Market: Current Analysis and Forecast (2022-2030)

Cancer biomarkers are biological molecules that are produced either by tumor cells or human tissues in response to cancer. In the last few years, cancer biomarkers have gained considerable momentum for the early detection of cancer and the development of personalized medicines. The global cancer biomarker market is growing with the surge in the prevalence of cancer. According to the International Agency for Research on Cancer (IARC), in its report GLOBOCAN, has stated that approximately 19.3 million new cancer cases and about 10 million deaths related to cancer were recorded in 2020, across the globe. The IARC has estimated that new cancer cases are expected to rise by 47% all over the globe from 2020 to 2040.

The Cancer Biomarker Market is expected to grow at a strong CAGR of 13% during the forecast period owing to the rising pharmaceutical investment. For instance, in December 2020, US Food and Drug Administration (FDA) approved next-generation sequencing-based companion diagnostic for EGFR Exon 20 insertion mutant non-small cell lung cancer tumor tissue by Thermo Fisher Scientific. Further, in April 2021, F. Hoffmann-La Roche Ltd. released the Elecsys Anti-p53 immunoassay to aid in the diagnosis of various cancer kinds.

• Based on the type, the market is segmented into protein, genetic biomarker, and glycol-biomarkers. The genetic biomarkers held a dominant share of the market in 2021 as they are utilized on a large scale and are very effective. These biomarkers are exclusively utilized for managing and diagnosing cancer, thus driving segmental growth.
• By indication, the market is segmented into prostate cancer, breast cancer, lung cancer, colorectal cancer, cervical cancer, stomach cancer, liver cancer, and others. The lung cancer segment is anticipated to grow with a significant CAGR during the forecast period. It is mainly attributed to the surge in the incidences of lung cancer and the associated rise in research and development activities. For instance, in February 2023, researchers at AIIMS created e-Nose for the detection of lung cancer. Further, in October 2020, RIKEN, iProgen Biotech Inc., and iPrime Therapeutics Co., entered into a collaboration to identify biomarkers unique to lung cancer cells suitable for targeted therapeutics.
• Based on profiling technologies, the market is segmented into omics technologies, imaging technologies, immunoassays, bioinformatics, and cytogenetics. The omics held a significant share of the market in 2021. Omics technology is highly effective in the early diagnosis of cancer. Furthermore, novel development in profiling technologies for cancer biomarkers is also having a positive impact on the growth of the market.
• Based on application, the market is segmented into drug discovery & development, diagnostics, prognostics, and others. The drug discovery & development is expected to grow with significant CAGR during the forecast period. The segment is growing due to the growing awareness among healthcare practitioners about cancer biomarkers. In addition, the demand for personalized medicines is also growing. One of the key factors driving the segment growth is approvals on diagnostic tests are quite easy nowadays which is creating demand for cancer biomarkers.
• For a better understanding of the market adoption of the cancer biomarker industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America held a dominant share of the market in 2021. The growth is mainly attributed to the higher adoption of advanced technologies, the surge in the prevalence of cancer, and the rise in the number of research studies. For instance, in May 2023, Culmination Bio entered into collaboration with Cofactor Genomics to leverage samples and data from one of the largest biobanks in the country to fuel the development of Cofactor Genomic’s OncoPrism™ test in 11 cancers. The objective of the partnership is to build biomarkers for cancers being studied in the national PREDAPT (Predicting Immunotherapy Efficacy From Analysis of Pre-treatment Tumor Biopsies) clinical trial.
• Some of the major players operating in the market include Qiagen, Abbott Laboratories Inc., Agilent Technologies, Merck Millipore, Biomerieux, Quest Diagnostics, F. Hoffmann-La Roche Ltd, Hologic Inc., Illumina Inc., Thermo Fisher Scientific.