New York, July 05, 2023 (GLOBE NEWSWIRE) -- The global cancer biomarkers market is estimated to grow at a CAGR of ~14% from 2023 to 2033. The market is estimated to garner a revenue of nearly USD 33 billion by the end of 2033, up from a revenue of about USD 13 billion in the year 2022. Increasing cancer patient bases and consumer awareness of cancer biomarkers are major factors expected to drive market growth in the coming years. The number of new cancer cases in the US in 2018 was 1,752,735, with 599,589 deaths. Biomarker testing is a way to look for genes, proteins, and other substances (called biomarkers or tumor markers) that can provide information about cancer.
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Each person's cancer has a unique pattern of biomarkers. Some biomarkers influence how certain cancer treatments work. Cancer biomarkers have been integrated into cancer detection and therapy. These are biomolecules produced by tumor cells or human tissues in response to cancer and later analyzed as signs of malignant activity in the body. Cancer biomarkers are widely used in the diagnosis and treatment of cancer patients; as specific patterns of biomarkers characterize each person's cancer. Some biomarkers influence the effectiveness of certain cancer treatments.
Global Cancer Biomarkers Market: Key Takeaways
- Market in North America to propel highest growth
- The breast cancer segment to garner the highest growth
- Market in Asia Pacific to grow at a highest rate
Global Cancer Prevalence to Drive Market Growth
Cancer incidence is expressed as the number of people living without being diagnosed with cancer. It is defined by how often cancers develop (incidence) and how long people live after a diagnosis (survival). Therefore, the most common cancers with the longest survival rates have the highest prevalence. For instance, the prevalence of breast cancer in women and prostate cancer in men is high, estimated at 42% and 43%, respectively, in 2019. Global cancer R&D activity was noted to continue to increase in 2021, with a 50% increase in clinical trials starting in 2021. Moreover, the economic expenditure on cancer treatment and therapy development is increasing year by year in various healthcare fields around the world. Global oncology spending in 2021 was found to be around USD 185 billion. For comparison, six years ago, oncology spending was about USD 85 billion. FDA-approved biomarkers, such as activating mutations in the epidermal growth factor receptor (EGFR), can influence the efficacy of EGFR inhibitors, i.e., gefitinib, a targeted cancer drug. Response rates to gefitinib were more than 60% in selected patients and approximately 25% in unselected patients. Hence, the increasing rate of new drug development is expected to be another important factor contributing to the growth of the cancer biomarkers market.
Global Cancer Biomarkers Market: Regional Overview
The market of cancer biomarkers is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Increasing Healthcare Expenditure to Drive Growth in the North American Market
The market of cancer biomarkers in the North American region is estimated to garner the largest revenue by the end of 2033. The regional growth can be attributed in large part to the growing population and research activity; health insurance covers various cancer biomarker diagnoses. Rising economic status and the affordability of advanced treatments for patients are estimated to boost the growth of the market in the region during the forecast period. According to the U.S. Bureau of Economic Analysis, personal income in the U.S. in August 2022 grew at a rate of 0.3% to reach USD 71.6 billion, while personal spending was observed to grow at a rate of 0.4% to reach USD 6.75 billion. In the United States, 1,752,735 new cancer cases were reported in 2019, and 599,589 people died from cancer. For every 100,000 people, 439 new cancer cases were reported, and 146 people died of cancer. Moreover, the insurance companies in North America offer efficient reimbursement policies to the patients going through cancer treatment, which encourages the patients to opt for advanced treatment methods. Hence, this is also estimated to add to the regional market growth significantly.
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Spiking Geriatric Population to Drive Growth in the Asia-Pacific Region
The market of cancer biomarkers in the Asia Pacific region is estimated to garner the highest CAGR by the end of 2033. The growth of the market in this region can primarily be attributed to the constantly growing older population throughout the region. The elderly is more prone to cancer diseases that require cancer biomarkers for their treatment. The population of Asia-Pacific is aging faster than that of any other region. Among the total aging population of the world, Asia-Pacific accounts for 60 percent, or 630 million, who are 60 years of age or older. The geriatric population in the region is projected to reach 1.3 billion by 2050. Additionally, the government's role in raising awareness regarding the use of cancer biomarkers is expected to boost market growth in the region. Moreover, increasing numbers of cancer patients and deaths, increased funding for medical infrastructure are expected to affect the growth of the market in the region.
Global Cancer Biomarkers Market, Segmentation by Cancer Type
- Breast
- Lung
- Prostate
- Colorectal
- Stomach Cancers
Amongst these five segments, the breast segment is anticipated to hold the largest share over the forecast period. The growth of the segment can be attributed to the increased prevalence of breast cancer due to unhealthy lifestyles, genetic inheritance, a growing elderly population of women, and exposure to harmful radiation. According to the World Health Organization, approximately 2.3 billion women will be diagnosed with breast cancer in 2020, and 685,000 of them will die worldwide. Moreover, the number of breast cancer diagnoses and deaths is increasing year by year. According to the World Health Organization, in 2020, 2.3 million women were diagnosed with breast cancer worldwide, and 685,000 died. By the end of 2020, 7.8 million women were diagnosed with breast cancer in the last five years, making it the most common cancer in the world. Therefore, it is expected to boost the growth of the segmental market.
Global Cancer Biomarkers Market, Segmentation by Biomolecule
- Genetic Biomarkers
- Protein Biomarkers
- Glico Biomarkers
Amongst these three segments, the "genetic biomarkers" segment is anticipated to hold a significant share over the forecast period. In genetics, biomarkers (called genetic markers) are DNA sequences that cause disease or are associated with susceptibility to disease. They can be used to create genetic maps of any organism under study. Molecular, histological, radiological, or physiological features are types of biomarkers. Examples of biomarkers include everything from blood pressure and heart rate to basic metabolic studies and X-rays to complex histological and genetic testing of blood and other tissues. Biomarkers are measurable. The growth of genome sequencing and the introduction of advanced tools in the fields of biotechnology and medicine can be attributed to the growth of the segment. Moreover, genomics research is increasing year by year. According to the National Human Genome Research Institute, genomic research will generate between 2 and 40 exabytes of data over the next decade.
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Global Cancer Biomarkers Market, Segmentation by Profiling Technology
- Omics Technologies
- Imaging Technologies
- Immunoassays
Global Cancer Biomarkers Market, Segmentation by Application
- Diagnostics
- Drug Discovery & Development Prognosis
- Risk Assessment
- Others
Few of the well-known market leaders in the cancer biomarkers industry that are profiled by Research Nester are INOVIQ, Bio-Rad Laboratories, Inc., Abbott Laboratories, Becton, Dickinson and Company, Merck KGaA, Qiagen Group, Thermo Fisher Scientific Holdings Inc., CENTOGENE U.S, LLC, PerkinElmer Inc., Siemens Healthcare GmbH., and other key market players.
Recent Development in the Global Cancer Biomarkers Market
- Qiagen Group associated with Biopharma LLC, Ukrainian pharmaceutical company, to develop a companion diagnostic test based on blood, to detect the Denovo Genomic Marker 1 (DGM1) in patients suffering from diffuse large B-cell lymphoma (DLBCL). DGM1 is a biomarker that predicts the response of the cancer drug DB 102 used in the treatment of DLBCL.
- Bio-Rad Laboratories, Inc., an American developer and manufacturer of specialized technological products, launched Bio-Plex Pro Human Cytokine Screening Panel, the first validated high-performance multiplex assay. The panel can detect and calculate 48 different analytes associated with heart disease, allergy, cancer, autoimmunity, and others.
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