The Global Cancer Biomarkers Market was worth USD 10.35 billion in 2016 and estimated to be growing at a CAGR of 11.45%, to reach USD 17.2 billion by 2021.
In order to sustain their market shares, top players are constantly focusing on new product developments and improving their existing products to augment their product portfolios.
Biomarkers are chemical, physical or biological parameters which can be used to specify disease states. Oncology biomarkers offers high speed, non invasive cancer diagnosis and deem to improve cancer detection and screening.
The global cancer biomarkers market is consolidated in nature at the top.
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Key driving factors for the market are rationalized drug delivery procedure, non invasive technology, augmented rates of survival. Boost in government and private funding for oncology also fuels the market growth.
Market is constrained by high cost of diagnosis, issues associated to reimbursement and some of the regulatory policies which hamper the market growth.
The global cancer biomarkers market is segmented on the basis of disease into Prostate Cancer, Breast Cancer, Lung Cancer, Colorectal Cancer, Cervical Cancer and Other Cancers. Based on services market is divided into Sample Preparation, Assay development and Biomarkers validation and testing.
On the basis of application, market is bifurcated into Risk Assessment, Development of molecular diagnostics, Disease diagnosis, Drug discovery and Development and Drug formulation. By Type, the cancer biomarkers market is segregated into Protein Biomarkers, Genetic biomarkers and other biomarkers.
Based on profiling technologies, segmentation is among omics technologies, Imaging technologies, Immunoassays, Cytogenetics, Bioinformatics and IVD multivariate index assays. Omics technologies segment is further sub segmented into Genomics, Proteomics, Metabolomics, Transcriptomics and Pharmacogenomics.
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Based on geography, the market is analysed under various regions namely, North America, Latin America, Europe, Asia-Pacific and Middle-East & Africa. The Asia-Pacific market is poised to record the highest growth rate in the forecast period due to the supporting government funding for cancer biomarker research, increasing prevalence of cancer, rising demand for advanced healthcare facilities in developing economies such as India and China, growing number of clinical trials, and rising focus of international players in emerging markets.
Some of the major players in this market are Abbott Laboratories, Agendia Bv, Biocurex Inc, Biomerieux S.A., Biomoda Inc, Astellas Pharma Us Inc, Correlogic Systems Inc, Beckman Coulter Inc, Becton, Dickinson And Company, Clarient Inc, Diadexus Inc, Ambrilia Biopharma, Affymetrix Inc and Aureon Laboratories Inc.
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