Increasing incidences of various types of cancers all over the globe has caused a rise in the need for cancer biomarkers, thereby providing a healthy impetus to the associated market. Such an increase in this deadly ailment is also due a surge in habits such as smoking and drinking, as well as exposure to high amounts of particulate matter and pollution. With widespread advancements expected to occur in terms of new and efficient equipment used to monitor cancer cases, the global cancer biomarker market too is prophesized to witness an unprecedented progress.
According expert analysts, the global cancer biomarkers market is expected to exhibit a splendid CAGR of 11.8% during the forecast period from 2017 to 2025. In this timeframe, the market is anticipated to gain revenue worth US$27.63 bn by the end of 2025, which is a decent rise from the earlier revenue worth of US$10.25 bn in 2016.
CTC Tests Hold Leading Position as Key Revenue Generating Segment
The global cancer biomarker market is mainly segregated under few categories such as test type, disease indication, and regional analyses. With respect to test type, PSA tests, CTC tests, AFP tests
CA tests, HER2 tests, BRCA tests, ALK tests, CEA tests, EGFR mutation tests, KRAS mutation tests, and others are segments. Under disease indication, breast cancer, lung cancer, colorectal cancer, melanoma, blood cancer, prostate cancer, ovarian cancer, stomach cancer, liver cancer, and others, comprise major segments in eh global cancer biomarkers market.
With respect to the test type, the CTC tests segment accounted for maximum share in the global cancer markers market in 2016. This segment is furthermore expected to continue its leading stance during the forecast period from 2017 to 2025. The main factors responsible for ushering positive growth in the market involve an increase in prevalence of various types of tumors and rising incidences of cancers related to the vital organs. CTC tests also are possess fast processing abilities and provide quality results than other tests, thus being highly preferred by healthcare specialists.
From the perspective of disease indication, the lung cancer segment held topmost market shares in the global cancer biomarkers market in 2016. This segment is further expected to proliferate during the forecast period as a result of several factors. Increasing prevalence of lung cancer in most regions, rising instances of cigarette smoking among the global population, and increasing geriatric population are some of the reasons that are responsible for causing lung cancer on a large scale basis. In addition, several technological advancements are occurring with regards to decreasing side-effects associated with biomarkers tests and early detection of the illness. These advancement too are driving an extensive demand for lung cancer diagnosis from a global perspective.
North America Remain Triumphant Owing to High Presence of Cancers
From a geographical perspective, the global cancer biomarker market is spread across Asia Pacific, Europe, the Middle East and Africa, Latin America, and North America. Of these, North America remains dominant since 2016, owing to several reasons. Some of the key factors include high prevalence of different cancer types, increasing healthcare expenditure leading to a rise in demand for better diagnostic tests and health care services, and widespread technological advancements in the field of cancer biomarkers occurring in the region. However, the market in Asia Pacific is projected to register a significant growth rate by 2025 due to availability of a large patient pool and increasing awareness about deadly healthcare concerns such as cancer. In addition, high percentage of geriatric population, and increasing disposable incomes are expected to propel the market in this region too.
Abbott Laboratories, Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd, Illumina, Inc., Agilent Technologies, QIAGEN, Merck & Co., Inc., Hologic, Inc., Novartis AG, bioMérieux SA, and Genomic Health, Inc., are key players operating in the global cancer biomarkers market.
Global Cancer Biomarkers Market: Overview
Biomarkers are the substance or molecules found in blood, other body fluids or tissues which states the normal and abnormal condition of the body, biomarkers helps to detect various diseases such as cancer. Cancer biomarkers tests are carried out to detect genes or mutated genes responsible for cancer. Dramatic improvement in the cancer biomarkers tests will increase demand globally.
A detailed overview of market dynamics, including the drivers, restraints, and opportunities of the cancer biomarkers market, has been provided in this report. Market revenue for all the above mentioned segments, and their sub segments has been provided for the forecast period of 2017-2025, considering 2016 as the base year, and 2015 as the historical year, along with compound annual growth rate (CAGR %), for the forecast period of 2017-2025. Market share estimations were based on in-depth analysis and study of products, and their features, prices etc.
This report provides in-depth analysis of the cancer biomarkers market. The stakeholders for this report include companies involved in the reagent manufacturer for cancer biomarkers tests. For providing a snapshot of this market to the stakeholders, executive summary section is included in this report, which summarizes the market size, trends and competition in different regions. Market share analysis among the market players is analyzed to signify percentage share of the major players operating in the cancer biomarkers market. Furthermore, the report incorporates market attractiveness analysis by geography that depicts the most attractive and significant region in the global market in 2015.
The research methodology is a combination of primary and secondary research. Primary research includes information collected via e-mails, and telephonic interviews of Key Opinion Leaders (KOL), and forms the bulk of our research. Secondary research includes information collected from various sources, by study of company websites, annual reports, stock analysis presentations, press releases, and various national and international databases.
Global Cancer Biomarkers Market: Segmentation
Based on test type, global cancer biomarkers market are segmented into PSA tests, CTC tests, AFP tests, CA tests, HER2 tests, BRCA tests, ALK tests, CEA tests, EGFR Mutation tests, KRAS Mutation tests and others. Based on disease indication, the cancer biomarkers market are segmented into breast cancer, lung cancer, colorectal cancer, melanoma, blood cancer, prostate cancer, ovarian cancer, stomach cancer, liver cancer and others.
Based on geography, the cancer biomarkers market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The regions are further segmented into major countries which include, U.S., Canada, Germany, U.K., France, Spain, Italy, Russia, rest of Europe, India, China, Japan, Australia and New Zealand, Rest of Asia Pacific, Brazil, Mexico, Rest of Latin America, GCC countries, South Africa and Rest of Middle East and Africa.
Companies Mentioned in the Report
The report also comprises list major players in the market, their SWOT analysis, market share of these players in the cancer biomarkers, key business strategies, product portfolios, and recent developments. Key market players profiled in this report include, Abbott Laboratories, Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd, Illumina, Inc., Agilent Technologies, QIAGEN, Merck & Co., Inc., Hologic, Inc., Novartis AG, bioMérieux SA, Genomic Health, Inc. and others
The global cancer biomarkers market has been segmented as follows:
- Global Cancer Biomarkers Market, by Test Type
- PSA Tests
- CTC Tests
- AFP Tests
- CA Tests
- HER2 Tests
- BRCA Tests
- ALK Tests
- CEA Tests
- EGFR Mutation Tests
- KRAS Mutation Tests
- Global Cancer Biomarkers Market, by Disease Indication
- Breast Cancer
- Lung Cancer
- Colorectal Cancer
- Blood Cancer
- Prostate Cancer
- Ovarian Cancer
- Stomach Cancer
- Liver Cancer
- Global Cancer Biomarkers Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC countries
- South Africa
- Rest of MEA
- North America