Global Cancer Biomarker market outlook 2024, Forecast To 2033

1 Mar, 2024

The cancer biomarker market size has grown rapidly in recent years. It will grow from $19.74 billion in 2023 to$22.77 billion in 2024 at a compound annual growth rate (CAGR) of 15.4%. The growth in the historic period can be attributed to the shift to personalized medicine, immunotherapy innovations, regulatory framework evolution, collaborative research efforts, focus on non-coding RNAs. The cancer biomarker market size is expected to see rapid growth in the next few years. It will grow to $40.66 billion in 2028 at a compound annual growth rate (CAGR) of 15.6%. The growth in the forecast period can be attributed to the shift to patient-centric diagnostics, integration of biomarkers in clinical trials, emergence of multiplex biomarker panels, exploration of non-coding RNAs, commercialization of biomarker tests. Major trends in the forecast period include advancements in genomics, precision medicine approaches, liquid biopsies, immunotherapy advancements, artificial intelligence (AI) integration.

Global Cancer Biomarker Market Key Driver

The cancer biomarker market is experiencing significant growth driven by the escalating incidence of cancer worldwide. Cancer biomarkers, instrumental in assessing disease risk, screening for tumors, and distinguishing malignancies, witness increasing adoption owing to the rising cancer incidence rates. Research published by the American Cancer Society projects 609,360 cancer deaths and 1.9 million new cancer cases in the US alone for 2022, signifying a pressing need for advanced diagnostic tools. Consequently, the rising prevalence of cancer is expected to propel the growth of the cancer biomarker market, with notable expansions anticipated in 2023, 2024, and 2028.

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Global Cancer Biomarker Market Segments

The global cancer biomarker market covered in this report is segmented –
1) By Biomarkers Type: Protein Biomarkers, Genetic Biomarkers, Other Cancer Biomarkers
2) By Profiling Technologies: Omics Technologies, Imaging Technologies, Immunoassay, Bioinformatics, Cytogenetics
3) By Cancer Type: Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Thyroid Cancer, Kidney Cancer, Other Cancers
4) By Application: Diagnostics, Research And Development, Prognostics, Risk Assessment, Other Applications
By Geography: The regions covered in the cancer biomarker market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. North America was the largest region in the cancer biomaker market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cancer biomarker market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Major Cancer Biomarker Industry Players

F. Hoffmann-La Roche AG, Thermo Fisher Scientific Inc., QIAGEN NV, Illumina Inc., Bio-Rad Laboratories Inc., Abbott Laboratories, bioMérieux SA, Becton Dickinson and Company, Merck & Co. Inc., Bristol-Myers Squibb Company, PerkinElmer Inc., Siemens AG, Exact Sciences Corporation, Novartis AG, Agilent Technologies Inc., Hologic Inc., Myriad Genetics Inc., Foundation Medicine Inc., Guardant Health Inc., Natera Inc., Sysmex Corporation, Biocartis Group NV, NanoString Technologies Inc., Veracyte Inc., Epic Sciences Inc., Cynvenio Biosystems Inc., Genomic Health Inc., Oncocyte Corporation, Exosome Diagnostics Inc., Grail Inc.

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Cancer Biomarker Market Overview

A cancer biomarker refers to a biological molecule present in the blood, tissues, or other bodily fluids, that indicates the presence of normal or abnormal activity, as well as a condition or disease. Cancer biomarkers are used to characterize alterations in the tumor.

Cancer Biomarker Global Market Report 2023 provides data on the global cancer biomarker market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The cancer biomarker market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.