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Cancer Biomarkers Market Worth $42.0 billion | MarketsandMarkets™


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MarketsandMarkets

29 Apr, 2024, 14:30 GMT

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CHICAGO, April 29, 2024 /PRNewswire/ -- Cancer Biomarkers Market in terms of revenue was estimated to be worth $24.5 billion in 2024 and is poised to reach $42.0 billion by 2029, growing at a CAGR of 11.3% from 2024 to 2029 according to a new report by MarketsandMarkets™.

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Increasing incidence of cancer followed by awareness for early diagnosis, growing investments in research and development of cancer biomarkers, extensive use of these biomarkers for diagnosis, drug discovery and development are the key factors responsible for growth of this market. Companies in the market for optometry equipment are finding that developing nations like China, Japan, and India provide attractive opportunities.

Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=202

Browse in-depth TOC on "Cancer Biomarkers Market"
364 - Tables
53 - Figures
340 - Pages

Cancer Biomarkers Market Scope:

Report Coverage

Details

Market Revenue in 2024

$24.5 billion

Estimated Value by 2029

$42.0 billion

Growth Rate

Poised to grow at a CAGR of 11.3%

Market Size Available for

2022–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Profiling technology, cancer type, product type, application, end-user, and region

Geographies Covered

North America, Europe, Asia Pacific, Latin America, the Middle East & Africa and GCC Countries

Report Highlights

Updated financial information / product portfolio of players

Key Market Opportunities

Personalized medicine

Key Market Drivers

Rising technological advancements in the development of cancer biomarkers

According to the profiling technology segment, the omics technology held the biggest market share for cancer biomarkers.

The market for cancer biomarkers has been divided into two segments based on profiling methods: omics technologies and imaging technologies. As of 2023, the cancer biomarkers market was dominated by the omics technology segment, mainly due to high throughput nature of these technologies in cancer biomarker discovery and diagnosis.

Throughout the projection period, the breast cancer segment is expected to develop at the fastest rate.

The market for cancer biomarkers is divided into categories according to the kind of cancer: non-Hodgkin's lymphoma, kidney cancer, bladder cancer, thyroid cancer, breast cancer, lung cancer, colorectal cancer, prostate cancer, melanoma, leukemia, thyroid cancer, and other cancer types. The market for cancer biomarkers was dominated in 2023 by the breast cancer segment. The huge share of this segment is due to the growing rate of breast cancer cases worldwide followed by awareness for diagnosis for prevention and treatment.

The instruments segment held the largest share in the market, by product.

The cancer biomarker market is divided into three segments based on product: instruments, consumables, and bioinformatics software. In 2023, the instruments segment holds the major market due to continuous need for cancer detection, improvements in instrument technology and high accuracy detection methods.

By application category, the cancer biomarkers market held the biggest share in 2023 for the diagnostics segment.

The market for cancer biomarkers has been divided into segments based on application, including risk assessment, prognostics, diagnostics, and research & development. As of 2023, the cancer biomarkers market was dominated by the diagnostics sector, primarily due to the increase in cancer incidence, increased awareness and acceptance of diagnostic tests and increase in technologically advanced biomarker products.

"North America aimed for the largest share of the optometry equipment market".

The global cancer biomarkers market is segmented into six major regions—North America, Europe, the Asia Pacific, Latin America, the Middle East & Africa and GCC Countries. North America is the largest regional market for cancer biomarkers. The large share of North America in this market can be attributed to the increasing prevalence of cancer, increasing research on cancer biomarkers, technological advancements, and the increasing use of cancer biomarkers in drug discovery and development.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=202

Cancer Biomarkers Market Dynamics:

Drivers:

  1. Rising technological advancements in the development of cancer biomarkers

Restraints:

  1. Technical issues related to sample collection and storage

Opportunities:

  1. Personalized medicine

Challenge:

  1. Challenges associated with cancer biomarker validation

Key Market Players of Cancer Biomarkers Industry:

The major players leading in cancer biomarkers market are 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), Centogene N.V. (Germany).

Breakdown of supply-side primary interviews, by company type, designation, and region:

  • By Company Type: Tier 1 (40%), Tier 2 (30%), and Tier 3 (30%)
  • By Designation: C-level (27%), Director-level (18%), and Others (55%)
  • By Region: North America (51%), Europe (21%), Asia- Pacific (18%), Latin America (6%), and Middle East & Africa(4%)

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=202

Recent Developments of Cancer Biomarkers Industry:

  • In November 2023, Agilent received FDA approval for PD-L1 IHC 22C3 pharmDx in gastric or gastroesophageal junction (GEJ) adenocarcinoma.
  • In May 2022, Illumina introduced a new pan-cancer companion diagnostic to match patients with rare genetic mutations to targeted therapy.
  • In December 2022, QIAGEN received FDA approval for a companion diagnostic to Mirati Therapeutics' KRAZATI in non-small cell lung cancer.

Cancer Biomarkers Market - Key Benefits of Buying the Report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall cancer biomarker market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers: 

  • Analysis of key drivers (High prevalence of cancer, growing use for research and diagnosis), restraints (Technical issues related to sample collection and storage), opportunities (Rising healthcare expenditure, Increasing Demand from Emerging Economies), and challenges (lack of skilled professionals) influencing the growth of the cancer biomarker market.
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the cancer biomarker market
  • Market Development: Comprehensive information about lucrative markets – the report analyses the cancer biomarker market across varied regions.
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the cancer biomarker market
  • Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like F. Hoffmann-La Roche Ltd. (Switzerland), Thermo Fisher Scientific Inc. (US), QIAGEN (Netherlands), Illumina, Inc. (US), Bio-Rad Laboratories, Inc. (US), among others in cancer biomarker market.

Related Reports:

Biomarkers Market - Global Forecasts to 2029

Companion Diagnostics Market - Global Forecasts to 2029

Patient-Derived Xenograft/PDX Model Market - Global Forecasts to 2028

Immunohistochemistry (IHC) Market - Global Forecasts to 2028

Tissue Diagnostics Market - Global Forecasts to 2028

Get access to the latest updates on Cancer Biomarkers Companies and Cancer Biomarkers Market Size

About MarketsandMarkets™:

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/

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