Global Cancer Biomarker Market
Global Cancer Biomarker Market Report Description:
Global cancer biomarker market report gives comprehensive outlook on cancer biomarker across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report gives historical, current, and future market sizes (US$ Mn) on the basis of biomarker type, cancer type, profiling technology, application, and region. 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). Key stakeholders of the market include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global cancer biomarker products.
Global Cancer Biomarker Market:
The global Cancer Biomarker market valued at US$ 13.4 Mn in 2018 and poised to grow at prominent growth rate over 2019-2025 due to increase in prevalence of certain types of cancers across the globe. 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.
Increase in the R&D for the Development of Newer Biomarkers
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.
North America Accounts for Larger Market Revenue Share in Global Cancer Biomarker Market
North America accounted for major revenue share due to increased rates of certain types of cancers in U.S. and Canada. For instance, according to National Cancer Institute 208, approximately 1,735,350 cases diagnosed with cancer in United States. Moreover, Europe cancer biomarker market contributed highest growth rate in 2018 and expected to grow at 5.6% CAGR over the forecast years owing to increase in research and development on newer technologies, and favorable reimbursement policies in the region
Key player’s profiles in the global cancer biomarker market include:
- Thermo Fisher Scientific, Inc.
- Illumina, Inc.
- Hoffmann La Roche Ltd.
- Hologic, Inc.
- Creative Diagnostics
- Quest Diagnostics
- Myriad Genetics, Inc.
- bioMeriux, Inc.
- Bio-rad Laboratories, Inc.
- Abbott Laboratories
- Sysmex Corporation
- Danaher Corporation
- Agilent Technologies
- GE Healthcare
- Becton, Dickinson and Company
Global cancer biomarker market is surging owing to collaborations and product approvals by the market players. For instance, in June 2018, MDxHealth inked worldwide licencing agreement with Philips for the launch of prognostic prostate cancer biomarker InformMDx
Key Findings of the Report:
- Global cancer biomarker market expanding at significant CAGR over 2019 to 2025 owing to increase in the prevalence of cancer disease.
- Based on biomarker type, protein biomarker accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global cancer biomarker market
By Biomarker Type
- Protein Biomarker
- Genetic Biomarker
By Cancer Type
- Breast Cancer
- Lung Cancer
- Prostate Cancer
- Non-Hodgkin’s Lymphoma
- Bladder Cancer
- Kidney Cancer
- Liver Cancer
By Profiling Technology
- OMICS Technology
- Imaging Technology
- Drug Discovery and Development
- Risk Assessment
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market