Cancer Biomarker Market Growth Outlook: Trends, Market Size, and Opportunities Over the Next Decade
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What Drivers Are Shaping the Growth and Development of theCancer Biomarker Market?
The upward trend of cancer occurrences is fueling the expansion of the cancer biomarker industry. Defined as the quantity of new cancer cases of a specific location or type seen in a certain population over a year, the cancer incidence rate is shown as occurrences of cancer per 100,000 individuals at risk. The surge in cancer incidence rates is triggering a rise in the use of cancer biomarkers as they help calculate the risk of disease, screen for undisclosed primary tumors, differentiate benign conditions from malignant ones, or separate one type of malignancy from another. For example, research released by the American Cancer Society, a health organization based in the US, in January 2022 indicated the expectation of 609,360 cancer-related deaths and 1.9 million new cancer cases in the US in 2022. This translates to roughly 1,670 deaths per day. As a result, the escalating incidence of cancer is anticipated to stimulate the development of the cancer biomarker industry in the upcoming years.
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How Will the Growth Rate of theCancer Biomarker Market Impact Industry Trends by 2034?
The expansion of the cancer biomarker market has been quick and steady in the past few years. Currently valued at $22.19 billion in 2024, it is projected to reach $25.28 billion by 2025, reflecting a compounded annual growth rate (CAGR) of 13.9%. Factors such as the drive towards personalized treatments, advancements in immunotherapy, developments in regulatory guidelines, cooperation in research initiatives, and a focus on non-coding RNAs have contributed to the growth during the historic period.
The size of the cancer biomarker market is predicted to experience swift expansion in the coming years, reaching $45.88 billion by 2029 with a compound annual growth rate (CAGR) of 16.1%. This expansion during the predicted period can be ascribed to factors such as the transition to patient-focused diagnostics, incorporation of biomarkers into clinical trials, the advent of multiplex biomarker panels, studies on non-coding RNAs and the monetization of biomarker tests. The key trends in the forecast period are progress in genomics, applications of precision medicine, adoption of liquid biopsies, innovations in immunotherapy, and the insertion of artificial intelligence (ai).
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Which Cutting-Edge Market Trends Are Expected to Drive theCancer Biomarker Market’s Growth?
Leading firms in the cancer biomarker sector are concentrating on creating innovative solutions, such as cancer biomarkers powered by artificial intelligence, in an effort to improve diagnostic precision and personalize care plans for patients. Cancer biomarkers powered by artificial intelligence are biological markers of cancer that are identified and analyzed through the use of AI technologies. For example, in September 2023, the US-based company, Ibex Medical Analytics, introduced Galen Breast HER2, an AI-driven solution specifically designed to boost the precision and consistency of HER2 scoring in breast cancer patients. This ground-breaking platform supports pathologists by autonomously identifying invasive tumor areas and quantifying HER2 expression in accordance with the 2018 ASCO/CAP guidelines. The Galen Breast HER2 system employs a unique computational pipeline to analyze immunohistochemistry (IHC)-stained slides, offering detailed visualizations of staining patterns and equipping pathologists with the necessary information to make knowledgeable treatment choices.
What Are the Leading Market Players Impacting theCancer Biomarker Market’s Growth Trend?
Major companies operating in the cancer biomarker market are F. Hoffmann-La Roche AG, Thermo Fisher Scientific Inc., QIAGEN NV, Illumina Inc., Bio-Rad Laboratories Inc., Abbott Laboratories, bioMérieux SA, Becton Dickinson and Company, Merck & Co. Inc., Bristol-Myers Squibb Company, PerkinElmer Inc., Siemens AG, Exact Sciences Corporation, Novartis AG, Agilent Technologies Inc., Hologic Inc., Myriad Genetics Inc., Foundation Medicine Inc., Guardant Health Inc., Natera Inc., Sysmex Corporation, Biocartis Group NV, NanoString Technologies Inc., Veracyte Inc., Epic Sciences Inc., Cynvenio Biosystems Inc., Genomic Health Inc., Oncocyte Corporation, Exosome Diagnostics Inc., Grail Inc.
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How Are the Key Segments of the Cancer Biomarker Market Driving Opportunities and Innovations?
The cancer biomarker market covered in this report is segmented –
1) By Biomarkers Type: Protein Biomarkers, Genetic Biomarkers, Other Cancer Biomarkers
2) By Profiling Technologies: Omics Technologies, Imaging Technologies, Immunoassay, Bioinformatics, Cytogenetics
3) By Cancer Type: Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Thyroid Cancer, Kidney Cancer, Other Cancers
4) By Application: Diagnostics, Research And Development, Prognostics, Risk Assessment, Other Applications
Subsegments:
1) By Protein Biomarkers: Tumor-Specific Antigens, Circulating Tumor Protein
2) By Genetic Biomarkers: DNA Mutations, RNA Expression Profiles
3) By Other Cancer Biomarkers: Epigenetic Biomarkers, Metabolomic Biomarkers
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https://www.thebusinessresearchcompany.com/customise?id=8492&type=smpGlobal Cancer Biomarker Market, Global Cancer Biomarker Market Report, Global Cancer Biomarker Market Trends, Global Cancer Biomarker Market Size
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