The global cancer biomarkers market is expected to reach a value of USD
33.7 billion by 2025, based on a new report by Grand View Research, Inc.
Growing initiatives for development of drugs targeting novel cancer biomarkers
coupled with the introduction of technologically advanced companion diagnostic
kits is estimated to provide the market with high growth potential. Increasing
awareness about personalized medicines amongst patients is further anticipated
to boost adoption of cancer biomarkers.
In addition, presence of
favorable government initiatives for the development of novel cancer diagnostic
techniques is a key factor for market growth. For instance, the National Cancer
Institute (NCI) provides funding to more than 8 research areas pertaining to
cancer biomarker development. Cancer Research UK, Lung Cancer Research
Foundation, and National Institutes of Health are some of the organizations
providing funding for biomarker research.
People with high alcohol
consumption, tobacco usage, unhealthy food habits, and sedentary lifestyle are
reported to be 80% more at risk of developing cancer as compared to other
individuals. Infections such as Human papillomavirus (HPV), Epstein-Barr virus,
Hepatitis B virus, and Helicobacter pylori are also been studied to be related
in cancer development.
Access Research Report of Cancer Biomarkers Market @ www.grandviewresearch.com/industry-analysis/cancer-biomarker-market
Further Key findings from the study suggest:
· Breast cancer was the largest segment by
revenue share in 2016 owing to high prevalence of this type of cancer
· Lung cancer is estimated to be the
fastest-growing type due to increasing research activities toward development
of novel lung cancer biomarkers
· Genetic biomarkers, being the highest used
and easily detectable held the majority share of cancer biomarker market by
biomolecule in 2016
· However, epigenetic biomarkers are
anticipated to witness lucrative growth due to increasing focus on finding the
role of epigenetic modifications in cancer development
· Cancer biomarkers are majorly used for
diagnostic purpose owing to their high specificity
· The personalized medicine segment is
estimated to witness fastest CAGR of 15.0% over the forecast period
· North America dominated in terms of revenue
share in 2016 due to established R&D infrastructure and high acceptance of
biomarker-based cancer testing in this region
· Asia Pacific is anticipated to grow at a
substantial growth rate till 2025 with CAGR of over 16.7%
· Some of the major companies in the cancer
biomarkers market are Abbott Laboratories; F.Hoffmann-La Roche Ltd.; QIAGEN;
Thermo Fisher Scientific Inc.; Affymetrix Inc.; Illumina, Inc.; Agilent
Technologies; Merck & Co. Inc.; Hologic, Inc.; Sino Biological Inc.; and
Becton, Dickinson and Company
Grand View Research has
segmented the cancer biomarkers market by type, biomolecule, applications, and
region:
Cancer Biomarker Type Outlook (Revenue, USD Billion, 2014
- 2025)
·
Breast cancer
·
Prostate cancer
·
Colorectal cancer
·
Cervical cancer
·
Liver cancer
·
Lung cancer
·
Others
Cancer Biomarker Biomolecule Outlook (Revenue, USD
Billion, 2014 - 2025)
·
Genetic Biomarkers
·
Epigenetic Biomarkers
·
Metabolic Biomarkers
·
Proteomic Biomarkers
·
Others
Cancer Biomarker Application Outlook (Revenue, USD
Billion, 2014 - 2025)
·
Drug discovery and Development
·
Diagnostics
·
Personalized medicine
·
Others
Cancer Biomarker Regional Outlook (Revenue, USD Billion,
2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
China
o
Japan
·
Latin America
o
Mexico
o
Brazil
·
MEA
o
South Africa
Access Press Release of Cancer Biomarkers Market@ www.grandviewresearch.com/press-release/global-cancer-biomarkers-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and fact-based
research across a range of industries, from technology to chemicals, materials
and healthcare.
