The global cancer biomarkers market is experiencing significant growth and is projected to reach USD 42.0 billion by 2029, up from USD 24.5 billion in 2024, with a compound annual growth rate (CAGR) of 11.3%. This surge in growth can be attributed to several key factors, including the rising prevalence of cancer worldwide, increasing use of cancer biomarkers in drug discovery and development, and ongoing research and development efforts in the field of cancer biomarkers. Emerging markets such as India and Japan also offer lucrative opportunities for market players operating in this space.
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Market Segmentation and Trends
Biomarker Type
The cancer biomarkers market is divided into three main segments based on biomarker type: protein, genetic, and other cancer biomarkers. In 2020, the protein biomarkers segment accounted for the largest market share, primarily due to ongoing technological advancements in the development of cancer biomarkers and increasing investment in research and development (R&D) activities.
Cancer Type
The market is also segmented based on cancer type, including breast, lung, colorectal, prostate, melanoma, leukemia, thyroid, bladder, non-Hodgkin’s lymphoma, kidney, and other cancer types. The breast cancer segment held the largest market share in 2020, owing to the high incidence of breast cancer globally and increased utilization of cancer biomarkers in drug discovery and development. However, the lung cancer segment is expected to register the highest growth rate during the forecast period.
Profiling Technology
By profiling technology, the market is divided into omics technologies, imaging technologies, immunoassay, bioinformatics, and cytogenetics. In 2020, omics technology accounted for the largest market share, driven by the use of cancer biomarkers in drug discovery and development and ongoing R&D efforts in the field.
Application
The cancer biomarkers market is segmented based on application into diagnostics, research and development, prognostics, risk assessment, and other applications. In 2020, the diagnostics segment held the largest market share, mainly due to the increasing incidence of cancer worldwide and the rising use of cancer biomarkers in drug discovery and development.
Regional Insights
North America dominated the global cancer biomarkers market in 2020, driven by technological advancements in the development of cancer biomarkers, the high incidence of cancer, and increased use of biomarkers in drug discovery and development. Europe and the Asia Pacific regions also represent significant markets for cancer biomarkers, with the Asia Pacific region expected to exhibit the highest growth rate during the forecast period due to an increase in R&D activities and expanding healthcare infrastructure.
Key Market Players
The global cancer biomarkers market is highly competitive and comprises several leading players, including:
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Thermo Fisher Scientific, Inc. (US)
- QIAGEN N.V. (Netherlands)
- Illumina, Inc. (US)
- Bio-Rad Laboratories, Inc. (US)
- Abbott Laboratories (US)
- bioMérieux SA (US)
- Becton, Dickinson and Company (US)
- Merck Millipore (US)
- Agilent Technologies (US)
- Myriad Genetics, Inc. (US)
- Sysmex Corporation (Japan)
- Hologic, Inc. (US)
- Quest Diagnostics (US)
These players continue to innovate and develop cutting-edge cancer biomarker solutions, ensuring the market remains dynamic and competitive.
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Conclusion
The global cancer biomarkers market is poised for substantial growth in the coming years, fueled by advancements in technology, increased research funding, and a growing need for personalized medicine. As the world seeks better diagnostic and prognostic tools for managing cancer, the importance of cancer biomarkers will continue to grow.
Related News & Articles:
https://www.marketwatch.com/press-release/cancer-biomarkers-market-worth-42-0-billion-marketsandmarkets-tm-e42d5a5f
https://www.marketsandmarkets.com/PressReleases/oncology-biomarkers-market.asp
https://www.linkedin.com/pulse/cancer-biomarkers-market-size-share-top-players-santosh-p–tyjgf
https://www.linkedin.com/pulse/cancer-biomarkers-market-size-trends-future-projections-d3hef
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