Cancer Biomarker Testing Market: By Type Of Cancer (Cervical cancer, Lung Cancer, Collateral Cancer, Liver Cancer, Prostate Cancer, Breast Cancer, Others), By Application (Drug Discovery and Development, Personalised Medicine, Diagnosis, Others), By End-User (Hospitals, Cancer diagnostic Centres, Research Institutes, Others) and Geography.

 

Cancer Biomarker Testing Market Size was valued at USD 10.42 billion in 2022 and is poised to grow at a significant CAGR of 15.4% during the forecast period 2023-2029. The cancer biomarker test market is driven by The increasing use of cancer biomarkers in drug discovery and development, along with growing research in this area, technological advancements, and the rising global incidence of cancer, are all contributing to significant advancements in cancer diagnosis, treatment, and patient care. World Health Organization (WHO) stated that cancer is one of the leading causes of mortality and morbidity worldwide, with approximately 14 Mn new cases in 2012. The number of new cases is expected to rise about 70% over the coming 2 decades. In addition, increase in awareness in public and healthcare professionals regarding early diagnostic procedures, rise in government and NGO's funding for oncology are expected to bolster the cancer biomarker testing market. Furthermore, the development of companion diagnostics and recent breakthrough in detection techniques such as proteomics, metabolomics, genomics and transcriptomics are further expected to boost the cancer biomarker test market. However, high cost for biomarker tests, low detection rates and regulatory policies are expected to hamper the cancer biomarker test market. and Regulatory agencies like the U.S. Food and Drug Administration (FDA) were providing guidance on the development and validation of biomarkers for clinical use. Streamlining regulatory pathways for biomarker-based tests was important for their clinical adoption. The global market is expected to grow with significant CAGR during forecast period. Market players are carrying out collaborations, partnerships, and acquisitions as key development strategies to enhance the market share.

The Cancer Biomarker Testing Market Key Developments :

• In April 2021, F. Hoffmann-La Roche Ltd. indeed launched the Elecsys Anti-p53 immunoassay, which is designed to aid in the diagnosis of various cancer types.
• in March 2017, Foundation Medicine and Bristol-Myers Squibb entered collaboration to understand tumour profile and its microenvironment to predict patient's response to cancer immunotherapy. Using Foundation Medicine's foundation genomic profiling assay, the firm will look at tumour mutational burden and microsatellite instability in patients enrolled in clinical trials for Bristol-Myers Squibb (BMS) cancer drugs.
• For instance, in October 2016, Arquer Diagnostics Ltd. (Arquer), and University of Sunderland are collaborated to investigate noninvasive specimen preparation techniques that will facilitate the use of Arquer's MCM5-ELISA test in a wide range of cancers.
• In April 2016, Stemcentrix acquired by AbbiVe along with its lead late stage biomarker rovalpituzumab tesirine (Rova-T), that helps to identify tumour cells.
• In 2015, Abbot Laboratories acquired exclusive rights for FGFR3 gene mutations to detect bladder cancer. FGFR3 developed at Institute Curie, it is a gene mutation and useful for early detection, disease monitoring, and prognosis of bladder cancer through tissue and urine-based testing.