The increasing frequency in the number of cancer cases worldwide has propelled the growth of the global cancer biomarkers market. A cancer biomarker alludes to a substance or cycle that is characteristic of the presence of cancer in the body. A biomarker might be a particle discharged by a tumor or a particular reaction of the body to the presence of cancer.
Lung Cancer Segment Earned Highest Shares Owing to Rapid advancement in Clinical Assays
As per classification by cancer types, the market is dominated by the lung cancer segment on account of the increasing number of lung screening programs and the rising number of patients undergoing little cell cellular breakdown in the lungs. Besides this, the rapid advancement and clinical researches for lung functioning and cancer therapeutics will further help this segment earn notable revenues in the coming years.
According to Transparency Market Research, the global cancer biomarkers markers are projected to rise at a CAGR of 11.80% and reach a value of USD 27.63 billion in the year 2025 from a value of USD 10.25 billion in the year 2016. The forecast period is set between 2017 and 2025.
Rising Government Support and Increasing research Activities to Propel Growth
The rising commonness of cancer overall is relating to the improvement in medical services foundation and advancement in clinical offices. Biomarkers have come to expect fundamental parts across all periods of illness care, and are headed to get masked in routine clinical thought. Throughout ongoing years, steps in the illness biomarkers market have a further developed area of threatening development in various people assistants. Biomarkers in oncology close by the blend of new headways to recognize them are pivotal in the organization of various infection types.
The rising innovative work exercises and the developing spotlight on mechanical advancements are assessed to empower the development of the worldwide cancer biomarkers market in the following not many years. Moreover, the rising number of consolidations and acquisitions and joint efforts, and the development of the item portfolio are a portion of the other key factors that are anticipated to help the development of the general market in the following not many years.
Biomarkers in oncology alongside the collection of new advancements to distinguish them are imperative in the administration of different cancer types. The potential in the cancer biomarkers market is changed: hazard evaluation, populace-based screening, visualization, therapy reaction, and movement of illness. Biomarkers have come to assume an essential part across all phases of cancer care, and are on the way to become disguised in routine clinical consideration. In recent years, steps in the cancer biomarkers market have further developed the discovery of cancer in different populace accomplices.
Cancer biomarkers are created to address the issues of different clinical settings. The critical foundation for the improvement of cancer biomarkers is setting up its insightful legitimacy. Decrease in death rates in the vast majority of cancer has declined in the course of the most recent ten years in the creating and created world, especially if there should arise an occurrence of bosom and colorectal cancer. Then again, not many cancer cases have seen a continually declining passing rate. Furthermore, the horribleness of cancer is gigantic, animating tenacious innovative work of new advancements to recognize biomarkers. This is a key factor supporting the development of the cancer biomarkers market.
North America emerged dominant on account of an increasing number of cancer cases and the presence of better diagnostic approaches in the United States and Canada. Additionally, the increasing popularity of cancer biomarkers and the rising government support in terms of reimbursement policies and medical insurances are likely to help this region continue dominating the market in the coming years. Besides this, Asia Pacific is projected to witness significant growth in the coming years on account of the improving healthcare and medical infrastructure and the advancement in cancer detection.
Companies are investing heavily in the research and development of better therapeutics to gain an upper hand in the overall market competition. Besides this, some players are also engaging in collaborative efforts to maintain a position in the market.
The information presented in this review is derived from a report by Transparency Market Research titled, “Cancer Biomarkers Market (Test Type - PSA Tests, CTC Tests, AFP Tests, CA Tests, HER2 Tests, BRCA Tests, ALK Tests, CEA Tests, EGFR Mutation Tests, and KRAS Mutation Tests; Disease Indication - Breast Cancer, Lung Cancer, Colorectal Cancer, Melanoma, Blood Cancer, Prostate Cancer, Ovarian Cancer, Stomach Cancer, and Liver Cancer) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025.”
Some of the prominent players of the global cancer biomarkers market include Abbott Laboratories, Thermo Fisher Scientific Inc., F.Hoffmann-La Roche Ltd., Illumina Inc., Agilent Technologies, Merck & Co.Inc., Novartis AG, BioMerieux Genomic Health Inc., and others.
The global cancer biomarkers market is categorized based on:
- 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
- By Disease Indication
- Breast Cancer
- Lung Cancer,
- Colorectal Cancer
- Blood Cancer
- Prostate Cancer
- Ovarian Cancer
- Stomach Cancer
- Liver Cancer
- By Region
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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