Global Cancer Biomarkers Market size is $15,737 million by 2022, registering a CAGR of 13.3% from 2016 to 2022. Cancer biomarkers are molecules released during the presence of a tumor or a particular indication in the body to the presence of cancer.
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Cancer biomarkers are traceable substances that can be used as an indicator of biological state of tumor and thus it can be used to analyze diagnostic and prognostic stages of cancer. The prevention of cancer by diagnosing and analyzing various cancer biomarkers using different diagnostic techniques is a profound approach for obtaining rapid results for treatment.
These biomarkers are used as risk indicators for various cancer types such as lung cancer, breast cancer, and prostate cancer among others.
Global Cancer biomarkers market is broadly segmented based on profiling technology, biomolecules, cancer type, application, and geography.
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By profiling technology, the cancer biomarker industry is segmented into omic technologies, imaging technologies, immunoassays, and cytogenetics based tests. Omic technologies segment occupies the largest cancer biomarker market size.
Based on biomolecules, the cancer biomarker industry is segmented into genetic biomarkers, protein biomarkers, and glycoprotein biomarkers. Genetic biomarkers occupies the largest cancer biomarker market share.
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Geographically, the global cancer biomarkers market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America is the leading revenue generating region, due to high incidence rate of cancer, growth in awareness towards cancer and higher cancer biomarker testing, whereas Asia-Pacific is growing at the fastest CAGR due to increasing disposable incomes, increasing awareness, and rising affordability for advanced cancer treatments.
The need for cancer biomarkers is expected to increase globally during the forecast period majorly due to the alarming prevalence of cancer cases. However, reluctance in adoption of new technologies, high cost of biomarker techniques, and low detection rate are anticipated to restrain the market growth.
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Major companies have adopted collaboration and partnership as their key development strategy. The key players of the cancer biomarkers industry include F.Hoffmann-La Roche Ltd., Abbott Laboratories, GlaxoSmithKline plc, Novartis AG, Merck & Co., Inc., Bristol-Myers Squibb, Eli Lilly and Company, Pfizer, Inc., Qiagen N.V.
and Genomic Health, Inc. The other players in the value chain include: bioMérieux, Astellas Pharma Inc., Myriad Genetics, Epigenomics and Radient Pharmaceuticals.
The global population has witnessed an alarming surge in cancer, with about 14 million new cancer cases reported each year. The following table depicts the worldwide incidences and the five-year prevalence of cancer in 2012, estimated by World Health Organization (WHO).
According to WHO, it is anticipated to further increase over the next two decades by 70% with 22 million new cancer cases.
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