Oncology Biomarkers Market Growth Forecast: Exploring Trends and Opportunities for the Next Decade
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How has the oncology biomarkers market grown in recent years?
The market size of oncology biomarkers has witnessed a rapid surge in the recent past. The growth is expected to continue, increasing from $15.3 billion in 2024 to $17.43 billion in 2025, thereby reflecting a compound annual growth rate (CAGR) of 13.9%. Factors such as wider acceptance in developing nations, precision medicine programs, advancements in diagnostics, support in drug development, and a rise in cancer cases have contributed to the growth during the historic period.
How is the oncology biomarkers market size expected to evolve during the forecast period?
Accelerated expansion is projected for the oncology biomarkers market in the coming years, with an expectation to reach a market value of $29.64 billion in 2029 and a compound annual growth rate (CAGR) of 14.2%. This upcoming surge can be credited to the incorporation of next-generation sequencing (ngs), enhancement of biomarker informatics, focus on predictive pharmacogenomics, swift progression in exosome-based biomarkers, as well as the acceptance of spatial transcriptomics. Key trends expected within this period encompass standardization and quality assurance, a shift towards functional biomarkers, the importance of biomarkers in clinical trials, increased utilities in immunotherapy, and real-time surveillance of treatment results.
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Which key drivers are propelling the oncology biomarkers market’s growth?
The oncology biomarker market is poised for growth due to the surge in cancer cases. Uncontrolled growth and gradual spreading of some body cells characterize this disease. The insights on cancer types are obtained by examining the genes, proteins, and other substances in a person via oncological biomarkers. For example, the National Library of Medicine, a U.S. government institute, estimated in January 2024 that the U.S. would have 2,001,140 new cancer cases and 611,720 cancer-related fatalities in 2024. Moreover, the yearly increase of 1% to 2% has been observed in cervical cancer rates in the 30 to 44 age group and colorectal cancer in individuals under 55. Thus, the swelling cancer rates are set to bolster the oncology biomarker market’s growth.
What are the market segments in the oncology biomarkers industry?
The oncology biomarkers market covered in this report is segmented –
1) By Biomarker Type: Protein Biomarkers, Genetic Biomarkers, Other Cancer Biomarkers
2) By Profiling Technologies: Omics Technologies, Imaging Technologies, Immunoassay, Bioinformatics, Other Profiling Technologies
3) By Cancer Type: Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Melanoma, Leukemia, Ovarian Cancer, Liver Cancer, Other Cancer Types
4) By Application: Diagnostics, Research And Development, Prognostics, Risk Assessment, Other Applications
5) By End-User: Hospitals, Academic And Cancer Research Institutes, Ambulatory Surgical Centers, Diagnostic Laboratories
Subsegments:
1) By Protein Biomarkers: Tumor-Specific Antigens, Circulating Tumor Cells (CTCs), Enzymatic Biomarkers
2) By Genetic Biomarkers: DNA Mutations, Gene Expression Profiles, Single Nucleotide Polymorphisms (SNPs)
3) By Other Cancer Biomarkers: Metabolomic Biomarkers, Epigenetic Biomarkers, MicroRNA Biomarkers
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Which leading companies are shaping the growth of the oncology biomarkers market?
Major companies operating in the oncology biomarkers market include F Hoffmann-La Roche AG, Novartis AG, Thermo Fisher Scientific Inc., Abbott Laboratories, Eli Lilly and Company, Merck KGaA, Siemens Healthcare GmbH, Becton Dickinson and Company, GE Healthcare Technologies Inc., Eurofins Scientific SE, Agilent Technologies Inc., Hologic Inc., Illumina Inc., Charles River Laboratories International Inc., bioMerieux SA, Bio-Rad Laboratories Inc., Bruker Corporation, QIAGEN NV, Exact Sciences Corporation, Sysmex Corporation, PerkinElmer Inc., Leica Biosystems, Myriad Genetics Inc., Guardant Health Inc., Enzo Biochem Inc., Biocartis Group NV, Bristol -Myers Squibb Company, Agendia Inc., Epigenomics AG, OncoDNA SA
What key trends are currently impacting the oncology biomarkers market’s development?
The introduction of cutting-edge and progressive technologies is a notable trend in the oncology biomarker sector. In their efforts to consolidate their standing, essential businesses in the oncology biomarkers market are employing innovative technology. To illustrate, OncoDNA, a precision medicine company based in Belgium that concentrates on oncology, pushed the envelope further in 2022 by rolling out OncoDEEP. This unique kit allows laboratories to undertake comprehensive biomarker examinations. It leverages Next-generation sequencing (NGS) technology in tandem with cloud-based software instruments to enable laboratories to perform large-panel sequencing, acquire a tumor’s molecular profile, interpret raw data, and tap into expansive quality controls.
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Which geographic areas are influencing the growth of the oncology biomarkers market?
North America was the largest region in the oncology biomarkers market in 2024. The regions covered in the oncology biomarkers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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