Cancer Biomarker Market – Scenario
As per the report that has been published by Market Research Future (MRFR), the global cancer biomarkers market is anticipated to expand remarkably at a noteworthy CAGR of 15.8% during the forecast period of 2017-2023. Cancer is one of the leading causes of death across the globe. The early stage cancer is diagnosed with the help of biomarkers that are molecules, proteins, or processes indicating the presence of cancerous cells and biological state of tumors in the body.
Market Drivers and Restraints:
Rise in prevalence of cancer and extensive research in biomarkers by various research institutes are some of the major factors driving the growth of the global cancer biomarkers market.
Extensive application of cancer biomarkers for diagnosis and identification of early-stage cancer, risk assessment, prognosis and treatment predictions, monitoring treatment response and others are fueling the growth of the global cancer biomarkers market.
The increasing use of biomarkers in cancer research for development of effective new drugs and increasing application of cancer biomarkers in the area of surrogate endpoints are positively impacting the growth of the global cancer biomarkers market. Proliferation in government initiatives and funding for development of novel cancer diagnostic techniques is acting as one of the major drivers for the expansion of the global cancer biomarkers market.
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Increasing adoption of advanced technology for research and development of highly effective drugs and accurate diagnosis of cancer are anticipated to fuel the growth of the global cancer biomarkers market. However, high cost of development and validation of biomarkers, reluctance in adoption of advanced technology and low detection rate are likely to act as restraints on the growth of the global cancer biomarkers market.
Cancer Biomarker Market – Competitive Analysis:
The players in the global cancer biomarkers market are increasing the research and development funding for introducing new biomarkers that would help in accurate diagnosis and development of new drugs for treating cancer. The recent discoveries and developments are strengthening the competition among the players and simultaneously fueling the growth of the global cancer biomarkers market.
In July 2018, researchers from University of Delhi and National Institute for Cancer Prevention and Research, Noida (India), have identified two proteins, survivin and STAT3, as potential biomarkers for gastric cancer progression.
Cancer Biomarker Market – Segmentation:
The global cancer biomarkers market is segmented on the basis of types, application and end-users. Based on type, the cancer biomarkers market is segmented into protein biomarkers, genetic biomarkers and others.
Based on application, the cancer biomarkers market is segmented into diagnostic, prognostic and therapeutic.
The diagnostic segmented is sub-segmented into imaging and non-imaging. Based on end-users, the cancer biomarkers market is segmented into pharmaceutical and biotechnology companies, diagnostic tool companies, healthcare it/big data companies, clinical laboratories.
- Bristol-Myers Squibb
- Abbott Laboratories
- Hoffmann-La Roche AG
- Becton Dickinson
- PerkinElmer and more.
Cancer Biomarker Market – Regional Analysis:
The global cancer biomarker market consists of four major regions: the Americas, Europe, Asia Pacific, and the Middle East and Africa.
America holds the largest market share in the cancer biomarker market owing to increasing prevalence of cancers in the U.S. and Canada. Growing prevalence of malignancies coupled with increasing focus on development of targeted therapies is a major factor affirming positive growth of this market. North America dominated the regional segment followed closely by Europe. High adoption of innovative technology, presence of key pharmaceutical companies, established R&D infrastructure pertaining to the development of novel diagnostic products and increased demand for specific & early diagnostics are the major factors for aforementioned dominance.
In Europe, Germany, the U.K, and France are the largest contributors to the market owing to the availability of funds for research, and extensive research and development activities in oncology.
In Asia Pacific, India, and China are the fastest developing regions in the market owing to an overall demand for early diagnostic and treatment services, and increasing expenditure on primary care services across Asia Pacific. However, the Asia Pacific region owing to increasing prevalence of cancer, beneficial environment for clinical trials, and increasing government funding for supporting drug development programs is anticipated to witness lucrative CAGR over the forecast period. Moreover, growing focus of pharmaceutical companies over this region coupled with rising awareness for biomarker-based diagnosis is one of the high impact-rendering drivers for growth.
Cancer Biomarker Market Research Report- Global Forecast till 2023:
1 Report Prologue
2 Market Introduction
3 Research Methodology
4 Market Dynamics
5 Market Impact Analysis
6 Asia Pacific Aesthetics Market, By Procedure
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