Cancer biomarker Market Research Report- Global Forecast till 2023
ID: MRFR/HC/3935-CRR | January, 2018 | Region: Global | 85 pages | Cooked Research Reports
Global Cancer Biomarker Market Research Report: By Types (Protein Biomarker, Genetic Biomarker), By Applications (Diagnostic, Prognostic, Therapeutic), By End Users (Pharmaceutical and Biotechnology Companies, Diagnostic Companies) – Forecast till 2023
Market Scenario
Cancer is a diverse disease that can originate in different organs and tissues, with each type being associated with different risk factors. Cancer biomarkers are molecules released during the presence of a tumor or a particular indication of cancer in the body. These can either be substance, molecule or a physical event that indicates the existence of cancerous cells in the body. These molecules are generally found in tissues, urine, serum, blood, and other body fluids that indicate any abnormal process or a disease.
The cancer biomarker market is primarily driven by factors including adoption of western lifestyles in the developing regions, extensive research of cancer biomarkers, encouragement for biomarker development by FDA, improved precision and speed of diagnosis, high investment through government and private funds in cancer-related research, and development of highly specific drugs. The global population has witnessed an alarming surge in cancer, with about 14 million new cancer cases reported each year. According to WHO, it is anticipated to further increase over the next two decades by 70% with 22 million new cancer cases in 2012.
Cancer treatment is primarily responsible of health care costs in the world and thus is one of the key restraining factor in the global cancer biomarkers market. Many patients who are suffering from cancer cannot afford its treatment. Therefore, reimbursement issues and the need for immediate processing are restraining this market. Moreover, the success rate of clinical trials are low of biomarkers is the major factor hindering the cancer biomarker market. There are high investments and low benefit-cost ratio associated with the development of cancer biomarkers which is making it one of the major restraints of cancer biomarkers market.
The global cancer biomarker market is expected to grow at a CAGR of 15.8% during the forecast period, 2017-2023.
Intended Audience
- Pharmaceutical Companies
- Government and private research companies
- Research and Development (R&D) Companies
- Drug Manufacturers and Suppliers
- Medical Research Laboratories
Figure 1- Market Synopsis of the Global Cancer biomarker Market Research, by Region, 2016 (%)
Sources- WHO, Cancer Research UK, American Cancer Society, press release, annual report
Segmentation
The global cancer biomarker market is segmented on the basis of types, applications and end users.
On the basis of types, the market is segmented into protein biomarker, genetic biomarker and others
On the basis of application, the market is segmented into diagnostic, prognostic and therapeutic. The diagnostic sub-segment is further classified into imaging and non- Imaging.
On the basis of end users, the market is segmented into pharmaceutical and biotechnology companies, diagnostic tool companies, healthcare it/big data companies, clinical laboratories
Regional Analysis
The global cancer biomarker market is segmented on the basis of regions: America, Europe, Asia Pacific, and the Middle East & Africa.
The cancer biomarker market in North America is expected to hold the largest share by 2025 due to the high prevalence of cancer and huge investments considering the detection and diagnosis of cancer. The United States is the dominating market due to the growing demand for investment in research and development, enhancing prevalence rate of cancer and key region considering medical tourism. A large share of this geographic segment is mainly attributed to the increasing government support for the discovery and development of biomarkers, increasing demand for personalized medicine, adoption of advanced omics technologies for biomarker discovery, and rising use of biomarkers in drug discovery and development by pharmaceutical companies in that region.
Europe holds the largest cancer biomarker market whose market is driven by the increasing number of clinical trials, and availability of funds for research. There is an increasing demand for new diagnostic tools and devices across the European countries such Germany, France, and the U.K.
On the other hand, the Asia Pacific market is anticipated to be the fastest growing region owing to the availability of skilled professional such as technicians and diagnostic specialist. The growing population in countries such as China and India, rising investments by public and private sectors in the cancer diagnosis and treatment, as well as the increasing prevalence of cancer in the Asia Pacific region are acting as the major drivers for the development and expansion of the cancer biomarkers market in Asia Pacific. Rise in medical tourism considering the cancer diagnosis and treatment is also impacting the growth of cancer biomarkers market in Asia Pacific region.
On the other hand, the Middle East & Africa hold the least share of the market due to the low prevalence of cancers in the region and limited availability of funds and availability of medical facilities. The Middle East has a huge share for the cancer biomarker market due to the presence of well-developed countries like Kuwait, Qatar, Oman, and Saudi Arabia. However, due to the presence of a huge opportunity for the development of the market, Africa region is expecting a healthy growth in near future.
Market Assessment
Sources- WHO, cancer research U.K, American Cancer Society, press release, annual report
Key Players in Global Cancer Biomarker Market
Some of key the players in the market are F. Hoffmann-La Roche AG (Switzerland), Becton Dickinson (U.S.), Abbott Laboratories (U.S.), PerkinElmer, Inc. (U.S.), Bristol-Myers Squibb (U.S.), Bio-Rad Laboratories (U.S.), Eli Lilly and Company (U.S.), Merck & Co., Inc. (U.S.), Pfizer Inc. (U.S.), GlaxoSmithKline plc. (U.S.), QIAGEN N.V (U.S.), Novartis AG (Switzerland), Thermo Fisher Scientific Inc. (U.S.), Illumina Inc. (U.S.)
