- Protein Biomarker
- Genetic Biomarker
The global cancer biomarkers market size valued at USD 15.06 billion in 2021 and expected to reach USD 31.53 billion by 2028 witnessing a CAGR rate of 11.5% during the forecast period 2022-2028. For instance, according to WHO 2018 data, approximately 9.6 Mn death occurred due to cancer around the globe. Moreover, rise in R&D for the development of newer biomarkers, raise in funding from public and private sectors, increase in adoption of cancer biomarkers for drug discovery and development, and surge in demand for early stage disease diagnosis are expected to propel the market over the forecast years. However, stringent regulations for the product approval, high cost for the R&D, and lack of favorable reimbursement guidelines are hamper the growth of market over the forecast years. This report studies market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global cancer biomarker market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global cancer biomarker market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities).
Fastest Growing Market
Increase in the R&D for the development of newer products is a major factor drive the global cancer biomarker market over the forecast years. For instance, in May 2019, Roche Diagnostics launched HER2 biomarker that can detect the breast and gastric cancer. Moreover, raise in funding for R&D also boost the market over the forecast timeframe. For instance, in March 2016, The National Cancer Institute has reserved $5.5 million in 2016 to fund the establishment of laboratories to advance research on biomarkers and biomarker assays for cancers of the breast, prostate, lung, and genitourinary organs.
2021 is the base year and 2028 is the forecast year.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.