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As per The Business Research Company’s Oncology Biomarkers Global Market Report 2023, The global oncology biomarkers market is expected to grow from $11.92 billion in 2022 to $13.68 billion in 2023 at a compound annual growth rate (CAGR) of 14.7%. The oncology biomarkers market is expected to reach $23.01 billion in 2027 at a CAGR of 13.9%.

What was the major driver in the oncology biomarkers market?
The rising incidence of cancer is expected to propel the growth of the oncology biomarker market going forward. Cancer is a disease in which some cells of the body grow uncontrollably and slowly spread to the rest of the body. Oncological biomarkers provide more information about the type of cancer by looking at the genes, proteins, and other substances in a person’s body. For instance, in February 2021, according to a report published by the American Cancer Society, a US-based voluntary health organization focused on cancer, an estimated 19.3 million new cancer cases and almost 10.0 million cancer deaths occurred in 2020. Further, in March 2023, according to the reports shared by the American Society of Clinical Oncology (ASCO)., a US-based professional organization, it was estimated that more than 12,000 people in the US were diagnosed with neuroendocrine tumors yearly. Further, approximately 171,000 people were living with this diagnosis in 2023. Therefore, the rising incidence of cancer will drive the oncology biomarker market.

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What was the key trend in the oncology biomarkersmarket?
Adopting innovative and advanced technologies is a key trend in the oncology biomarker market. Major companies in the oncology biomarkers market are introducing new and innovative technologies to strengthen their position in the oncology biomarkers market. For instance, in 2022, OncoDNA, a Belgium-based company focused on precision medicine in oncology, launched OncoDEEP, a unique kit that enables laboratories to perform comprehensive biomarker testing. OncoDEEP uses Next-generation sequencing (NGS) technology and cloud-based software tools to provide laboratories with the ability to perform large-panel sequencing, obtain the molecular characterization of a tumor, analyze the raw data, and access extensive quality controls.

Which was the largest region in the oncology biomarkers market?
North America was the largest region in the oncology biomarkers market in 2022. The regions covered in oncology biomarkers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Who are the oncology biomarkersmarketprominent players?
Major players in the oncology biomarkers market are 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, and OncoDNA SA.

Key oncology biomarkersmarket segments
The global oncology biomarkers market 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

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The Oncology Biomarkers Global Market Report 2023 provides a comprehensive overview on the oncology biomarkers market size, trends and drivers, opportunities, strategies, and companies analysis. Through our reports businesses can effectively analyze data and frame well-informed strategies

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Oncology Biosimilars Global Market Report 2023
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