The global cancer biomarkersmarket is projected to reach USD 28.2billion by 2026 from USD 12.4billion in 2021, at a CAGR of 17.7% during the forecast period. Market growth is driven by factors such as therising technological advancements In the development of cancer biomarkers and increasing incidence of cancer worldwide. On the other hand, challenges associated with cancer biomarker validationand shortage of skilled professionalsare the major factors hampering the growth of this market.
“The protein biomarkers segment accounted for the highest growth rate in thecancer biomarkersmarket, by biomarker type, during the forecast period”
Thecancer biomarkersmarket is segmented into protein biomarkers, genetic biomarkers and other cancer biomarkers based on biomarkers type. In 2020, the protein biomarkerssegment accounted for the highest growth rate in the cancer biomarkersmarket.Increasing incidence of cancer worldwide and increasing R&D on cancer biomarkersare major factor contributing to the growth of this segment.
“The breast cancersegment accounted for the highest growth rate in the cancer biomarkers market, by cancer type, during the forecast period”
The cancer biomarkers market is segmented into breast cancer, lung cancer, colorectal cancer, prostate cancer, melanoma, leukemia, thyroid cancer, bladder cancer, non-hodgkin’s lymphoma, kidney cancer and other cancer typesbased on cancer type. In 2020, the breast cancer segment accounted for the highest growth rate in the cancer biomarkers market. Rising technological advancements In the development of cancer biomarkers and increasing incidence of cancer worldwideare major factors contributing to the growth of this segment.
“Bioinformaticssegment accounted for the highest CAGR”
Based onprofiling technologies, cancer biomarkers market has been segmented into omics technologies, imaging technologies, immunoassay, bioinformatics and cytogenetics. In 2020, the bioinformaticssegment accounted for the highest CAGR. This can be attributed to theincreasing use of cancer biomarkers in drug discovery & development.
“Diagnostics segment accounted for the highest share”
Based on application, the cancer biomarkers market has been segmented into diagnostics, research & development, prognostics, risk assessment and other applications. In 2020, the research & development segment accounted for the highest CAGR. This can be attributed to the increasing use of cancer biomarkers in drug discovery & development and increasing R&D on cancer biomarkers.
“Asia Pacific: The fastest-growing regionin cancer biomarkersmarket”
The global cancer biomarkersmarket is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific region is projected to register the highest CAGR during the forecast period. Rising technological advancements In the development of cancer biomarkers and increasing incidence of cancer worldwide are driving the growth of the cancer biomarkersmarket in this region.
The primary interviews conducted for this report can be categorized as follows:
- By Company Type: Tier 1 - 40%, Tier 2 - 30%,and Tier 3 -30%
- By Designation: C-level - 27%, D-level - 18%, and Others - 55%
- By Region: North America -51%, Europe - 21%, Asia Pacific - 18%, Latin America – 6%, and the Middle East & Africa – 4%
This report provides a detailed picture of the global cancer biomarkersmarket. It aims at estimating the size and future growth potential of the market across different segments, such as biomarkers type, cancer type, profiling technologies, application and region. The report also includes an in-depth competitive analysis ofthe key market players, along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall cancer biomarkersmarket and its subsegments.It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market’s pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.