This study intends to analyse diverse aspects of the global cancer biomarkers market. The insights offered in this report are expected to aid in market growth examination over the forecast timeline.
Market Analysis in Brief
The cancer biomarkers market has indexed significant growth in recent years and is expected to continue to expand in the coming years. Biomarkers are molecules that indicate the presence of cancer in the body and can be used for early detection, diagnosis, and cancer monitoring applications. This market includes several types of biomarkers, such as genetic, proteomic, and glycomic biomarkers. The increasing incidence of cancers, and the growing demand for personalized medicine are elements driving the growth of this global market. However, inflated costs associated with biomarker tests as well as the lack of standardization in biomarker development and validation are some of the challenges faced by this market. Overall, the cancer biomarkers industry is expected to register continued growth as R&D initiatives continue to advance this field further.
Key Report Findings
- The global cancer biomarkers market was valued at around US$1.6 Bn in 2020
- Diagnostic biomarkers are expected to account for a majority market share
- The lung cancer biomarkers segment is slated to index the highest rate of growth
- North America to account for highest regional market share over the forecast period
- Roche Diagnostics is the largest cancer biomarkers company in the world
Growth Drivers
Increasing Prevalence of Cancers, Technological Advancements, and Higher Healthcare Investments
According to the WHO, cancer is one of the leading causes of death globally, accounting for about 9.6 million deaths in 2018. This growing burden of cancer has led to an increase in the demand for precise and efficient diagnostic tools. Additionally, ongoing developments in technology have led to the discovery of novel biomarkers which in turn has helped improve the accuracy and treatment of cancer. Advance in geonomics and proteomics have allowed the identification of specific genetic and protein biomarkers associated with different forms of cancer, which has subsequently led to the development of targeted and personalized therapies.
A study by Fairfield Market Research has found that the global cancer biomarkers market is expected to achieve a valuation of over US$26 Bn by 2025, growing at a favourable CAGR over the same timeline. In recent years, there has been a steady increase in investments toward healthcare, be it from governmental bodies and private entities, leading to the augmenting of healthcare infrastructure and more R&D initiatives. Factors such as these are all expected to have a positive influence on the growth trajectory of the global cancer biomarkers industry.
Greater Demand for Non-invasive Tools
As a less painful, non-invasive alternative to traditional diagnostic procedures such as biopsies, there has been a steady increase in the demand for non-invasive diagnostic tools. Moreover, there has been a steady increase in awareness concerning the several types of cancer and methods by which it can be detected at an early stage. Cancer biomarkers play a crucial role in the detection and diagnosis of cancer. These are also elements that are expected to significantly boost growth prospects for the various players engaged in the global cancer biomarkers market in the future.
Growth Challenges
High Costs, Regulatory Hurdles, and Lack of Standardization
The costs associated with biomarker testing are high, depending on the type of biomarker and diagnostic technique used. This can make it difficult for patients to access these diagnostic tools, specifically in low- to middle-income countries. Moreover, there are many regulatory hurdles and lengthy approval processes involved in the development of cancer biomarkers. Additionally, there is a lack of standardization in the use of cancer biomarkers, including the diagnostic techniques used and the selection of biomarkers. This can hinder the reproducibility and comparability of results. Factors such as these are slated to have a negative impact on the growth of the global cancer biomarkers market.
Growth Opportunities Across Regions
North America to Remain the Regional Frontrunner
Europe and the Asia Pacific regions are expected to account for a significant share of the global cancer biomarkers market owing to factors such as the availability of diagnostic technologies, booming healthcare infrastructure, growing awareness about early cancer detection and diagnostic techniques. However, North America is expected to remain the regional frontrunner in the market over the forecast period. This can be attributed to the significant presence of established industry players and healthcare infrastructure in the region, as well as increasing R&D initiatives, and the increasing prevalence of cancer.
Key Market Players – Cancer Biomarkers Landscape
Some of the key companies in the market include Roche Diagnostics, Thermo Fisher Scientific, Abbott Laboratories, Illumina Inc., and Qiagen N.V. Key players in the cancer biomarkers market have been involved in new product launches and are implementing other growth strategies such as collaborations, and acquisitions to strengthen their position.
Cancer Biomarkers Market: Key Developments
- In 2021, Exact Science acquired Thrive Earlier Detection, a healthcare company. This move allowed Exact Science to expand its early cancer detection offerings through Thrive’s CancerSEEK Liquid Biopsy test
- In 2020, Illumina acquired This move gave the company access to GRAIL’s expertise in liquid biopsy technology, which could be used for early cancer detection applications
- In October 2020, Invitae, a genetic testing company, announced the acquisition of ArcherDX, a developer of genomic sequencing assays for cancer biomarkers. This strategic move is expected to expand Invitae’s cancer diagnostics offerings
- In March 2019, Agilent Technologies, a life sciences and diagnostics company, acquired BioTek Instruments, a developer of life science instrumentation for drug discovery and other applications. This move is expected to boost Agilent’s offerings in the cancer biomarkers market
Regional Classification of the Global Cancer Biomarkers Market is Listed Below:
North America
- U.S.
- Canada
Europe
- Germany
- France
- Spain
- U.K.
- Italy
- Russia
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East and Africa
- GCC
- South Africa
- Rest of Middle East & Africa
1. Executive Summary
1.1. Global Cancer Biomarkers Market Snapshot
1.2. Key Market Trends
1.3. Future Projections
1.4. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.1.1. Driver A
2.2.1.2. Driver B
2.2.1.3. Driver C
2.2.2. Restraints
2.2.2.1. Restraint 1
2.2.2.2. Restraint 2
2.2.3. Market Opportunities Matrix
2.3. Porter’s Five Forces Analysis
2.4. Covid-19 Impact Analysis
2.5. Regulatory Framework
2.6. PESTLE
3. Global Cancer Biomarkers Market Outlook, 2018 - 2030
3.1. Global Cancer Biomarkers Market Outlook, by Biomarker Type, Value (US$ Mn), 2018 - 2030
3.1.1. Key Highlights
3.1.1.1. Protein
3.1.1.2. Genetic
3.1.1.3. Other
3.2. Global Cancer Biomarkers Market Outlook, by Testing Method, Value (US$ Mn), 2018 - 2030
3.2.1. Key Highlights
3.2.1.1. Tissue Biopsy
3.2.1.2. Liquid Biopsy
3.2.2. BPS/Market Attractiveness Analysis
3.3. Global Cancer Biomarkers Market Outlook, by Cancer Type, Value (US$ Mn), 2018 - 2030
3.3.1. Key Highlights
3.3.1.1. Lung
3.3.1.2. Prostate
3.3.1.3. Breast
3.3.1.4. Colorectal
3.3.1.5. Gastric
3.3.1.6. Leukemia
3.3.1.7. Other
3.3.2. BPS/Market Attractiveness Analysis
3.4. Global Cancer Biomarkers Market Outlook, by Application, Value (US$ Mn), 2018 - 2030
3.4.1. Key Highlights
3.4.1.1. Screening
3.4.1.2. Differential Diagnosis
3.4.1.3. Treatment Selection
3.4.1.4. Treatment Monitoring
3.4.1.5. Other
3.5. Global Cancer Biomarkers Market Outlook, by Region, Value (US$ Mn), 2018 - 2030
3.5.1. Key Highlights
3.5.1.1. North America
3.5.1.2. Europe
3.5.1.3. Asia Pacific
3.5.1.4. Latin America
3.5.1.5. Middle East & Africa
3.5.2. BPS/Market Attractiveness Analysis
4. North America Cancer Biomarkers Market Outlook, 2018 - 2030
4.1. North America Cancer Biomarkers Market Outlook, by Biomarker Type, Value (US$ Mn), 2018 - 2030
4.1.1. Key Highlights
4.1.1.1. Protein
4.1.1.2. Genetic
4.1.1.3. Other
4.2. North America Cancer Biomarkers Market Outlook, by Testing Method, Value (US$ Mn), 2018 - 2030
4.2.1. Key Highlights
4.2.1.1. Tissue Biopsy
4.2.1.2. Liquid Biopsy
4.3. North America Cancer Biomarkers Market Outlook, by Cancer Type, Value (US$ Mn), 2018 - 2030
4.3.1. Key Highlights
4.3.1.1. Lung
4.3.1.2. Prostate
4.3.1.3. Breast
4.3.1.4. Colorectal
4.3.1.5. Gastric
4.3.1.6. Leukemia
4.3.1.7. Other
4.4. North America Cancer Biomarkers Market Outlook, by Application, Value (US$ Mn), 2018 - 2030
4.4.1. Key Highlights
4.4.1.1. Screening
4.4.1.2. Differential Diagnosis
4.4.1.3. Treatment Selection
4.4.1.4. Treatment Monitoring
4.4.1.5. Other
4.5. North America Cancer Biomarkers Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
4.5.1. Key Highlights
4.5.1.1. U.S.
4.5.1.2. Canada
4.5.2. BPS/Market Attractiveness Analysis
5. Europe Cancer Biomarkers Market Outlook, 2018 - 2030
5.1. Europe Cancer Biomarkers Market Outlook, by Biomarker Type, Value (US$ Mn), 2018 - 2030
5.1.1. Key Highlights
5.1.1.1. Protein
5.1.1.2. Genetic
5.1.1.3. Other
5.2. Europe Cancer Biomarkers Market Outlook, by Testing Method, Value (US$ Mn), 2018 - 2030
5.2.1. Key Highlights
5.2.1.1. Tissue Biopsy
5.2.1.2. Liquid Biopsy
5.3. Europe Cancer Biomarkers Market Outlook, by Cancer Type, Value (US$ Mn), 2018 - 2030
5.3.1. Key Highlights
5.3.1.1. Lung
5.3.1.2. Prostate
5.3.1.3. Breast
5.3.1.4. Colorectal
5.3.1.5. Gastric
5.3.1.6. Leukemia
5.3.1.7. Other
5.4. Europe Cancer Biomarkers Market Outlook, by Application, Value (US$ Mn), 2018 - 2030
5.4.1. Key Highlights
5.4.1.1. Screening
5.4.1.2. Differential Diagnosis
5.4.1.3. Treatment Selection
5.4.1.4. Treatment Monitoring
5.4.1.5. Other
5.5. Europe Cancer Biomarkers Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
5.5.1. Key Highlights
5.5.1.1. Germany
5.5.1.2. France
5.5.1.3. U.K.
5.5.1.4. Italy
5.5.1.5. Spain
5.5.1.6. Russia
5.5.1.7. Rest of Europe
5.5.2. BPS/Market Attractiveness Analysis
6. Asia Pacific Cancer Biomarkers Market Outlook, 2018 - 2030
6.1. Asia Pacific Cancer Biomarkers Market Outlook, by Biomarker Type, Value (US$ Mn), 2018-2030
6.1.1. Key Highlights
6.1.1.1. Protein
6.1.1.2. Genetic
6.1.1.3. Other
6.2. Asia Pacific Cancer Biomarkers Market Outlook, by Testing Method, Value (US$ Mn), 2018 - 2030
6.2.1. Key Highlights
6.2.1.1. Tissue Biopsy
6.2.1.2. Liquid Biopsy
6.3. Asia Pacific Cancer Biomarkers Market Outlook, by Cancer Type, Value (US$ Mn), 2018 - 2030
6.3.1. Key Highlights
6.3.1.1. Lung
6.3.1.2. Prostate
6.3.1.3. Breast
6.3.1.4. Colorectal
6.3.1.5. Gastric
6.3.1.6. Leukemia
6.3.1.7. Other
6.4. Asia Pacific Cancer Biomarkers Market Outlook, by Application, Value (US$ Mn), 2018 - 2030
6.4.1. Key Highlights
6.4.1.1. Screening
6.4.1.2. Differential Diagnosis
6.4.1.3. Treatment Selection
6.4.1.4. Treatment Monitoring
6.4.1.5. Other
6.5. Asia Pacific Cancer Biomarkers Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
6.5.1. Key Highlights
6.5.1.1. China
6.5.1.2. Japan
6.5.1.3. South Korea
6.5.1.4. India
6.5.1.5. Southeast Asia
6.5.1.6. Rest of Asia Pacific
6.5.2. BPS/Market Attractiveness Analysis
7. Latin America Cancer Biomarkers Market Outlook, 2018 – 2030
7.1. Latin America Cancer Biomarkers Market Outlook, by Biomarker Type, Value (US$ Mn), 2018 - 2030
7.1.1. Key Highlights
7.1.1.1. Protein
7.1.1.2. Genetic
7.1.1.3. Other
7.2. Latin America Cancer Biomarkers Market Outlook, by Testing Method, Value (US$ Mn), 2018-2030
7.2.1. Key Highlights
7.2.1.1. Tissue Biopsy
7.2.1.2. Liquid Biopsy
7.3. Latin America Cancer Biomarkers Market Outlook, by Cancer Type, Value (US$ Mn), 2018 - 2030
7.3.1. Key Highlights
7.3.1.1. Lung
7.3.1.2. Prostate
7.3.1.3. Breast
7.3.1.4. Colorectal
7.3.1.5. Gastric
7.3.1.6. Leukemia
7.3.1.7. Other
7.4. Latin America Cancer Biomarkers Market Outlook, by Application, Value (US$ Mn), 2018 - 2030
7.4.1. Key Highlights
7.4.1.1. Screening
7.4.1.2. Differential Diagnosis
7.4.1.3. Treatment Selection
7.4.1.4. Treatment Monitoring
7.4.1.5. Other
7.5. Latin America Cancer Biomarkers Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
7.5.1. Key Highlights
7.5.1.1. Brazil
7.5.1.2. Mexico
7.5.1.3. Rest of Latin America
7.5.2. BPS/Market Attractiveness Analysis
8. Middle East & Africa Cancer Biomarkers Market Outlook, 2018 - 2030
8.1. Middle East & Africa Cancer Biomarkers Market Outlook, by Biomarker Type, Value (US$ Mn), 2018 - 2030
8.1.1. Key Highlights
8.1.1.1. Protein
8.1.1.2. Genetic
8.1.1.3. Other
8.2. Middle East & Africa Cancer Biomarkers Market Outlook, by Testing Method, Value (US$ Mn), 2018 - 2030
8.2.1. Key Highlights
8.2.1.1. Tissue Biopsy
8.2.1.2. Liquid Biopsy
8.3. Middle East & Africa Cancer Biomarkers Market Outlook, by Cancer Type, Value (US$ Mn), 2018 - 2030
8.3.1. Key Highlights
8.3.1.1. Lung
8.3.1.2. Prostate
8.3.1.3. Breast
8.3.1.4. Colorectal
8.3.1.5. Gastric
8.3.1.6. Leukemia
8.3.1.7. Other
8.4. Middle East & Africa Cancer Biomarkers Market Outlook, by Application, Value (US$ Mn), 2018 - 2030
8.4.1. Key Highlights
8.4.1.1. Screening
8.4.1.2. Differential Diagnosis
8.4.1.3. Treatment Selection
8.4.1.4. Treatment Monitoring
8.4.1.5. Other
8.5. Middle East & Africa Cancer Biomarkers Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
8.5.1. Key Highlights
8.5.1.1. GCC
8.5.1.2. South Africa
8.5.1.3. Rest of Middle East & Africa
8.5.2. BPS/Market Attractiveness Analysis
9. Competitive Landscape
9.1. Company Market Share Analysis
9.2. Competitive Dashboard
9.3. Company Profiles
9.3.1. Illumina
9.3.1.1. Company Overview
9.3.1.2. Product Portfolio
9.3.1.3. Financial Overview
9.3.1.4. Business Strategies and Development
(*Note: Above details would be available for below list of companies based on availability)
9.3.2. Roche Diagnostics
9.3.3. Qiagen N.V.
9.3.4. Bio-Rad Laboratories, Inc.
9.3.5. Myriad Genetics
9.3.6. Angle PLC
9.3.7. Guardant Health
9.3.8. Exact Sciences Corporation
9.3.9. Thermo Fisher Scientific
9.3.10. Abbott Laboratories
9.3.11. Inviate Corporation
9.3.12. Other
10. Appendix
10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations
Download Sample Report
Member
Quality assured
