Global Cancer Biomarker Market Size
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Cancer Biomarker Market Size, Share, And Growth Rate Analysis 2023

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s cancer biomarker market report forecasts the cancer biomarker market size to grow to $33.69 Billion by 2027, with a CAGR (compound annual growth rate) of more than 14%.

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Cancer Biomarker Market Size Forecast
The global cancer biomarker market is expected to grow from $17.08 billion in 2022 to $19.80 billion in 2023 at a compound annual growth rate (CAGR) of 15.92%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The cancer biomaker market is expected to reach $33.69 billion in 2027 at a CAGR of 14.21%.

North America held the largest cancer biomarker market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Cancer Biomarker Market Driver ­– Rise In The Incidence Of Cancer
For instance, according to the 2021 American Cancer Society report, 1.8 million new cases of cancer were diagnosed in 2020. Furthermore, the National Cancer Institute, a US-based government organization that is a part of the National Institutes of Health, reported in September 2020 that 1,806,590 new cancer cases were registered, which indicated a 43% increase from the previous year. Therefore, the rising incidence of cancer packaging is expected to propel the growth of the cancer biomarker market in the coming years.

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Key Cancer Biomarker Market Trend – Technological Advancement
Major market players are developing advanced technologies such as artificial intelligence (AI), deep learning (DL), and machine learning (ML) to sustain their position in the cancer biomarker market. These techniques are being used to tackle the problems associated with finding cancer biomarkers, where processing enormous volumes of molecular and imaging data are beyond the capabilities of conventional statistical studies and tools. For instance, in December 2021, F. Hoffmann-La Roche AG, a Switzerland-based pharmaceuticals and diagnostics company introduced uPath Ki-67 (30-9), uPath ER (SP1), and uPath PR (1E2), three new automated digital pathology algorithms that will be used as a biomarker for image analysis for breast cancer. This image analysis for breast cancer uses pathologist-trained deep learning algorithms to speed up the estimation of Ki-67, ER, and PR tumor cell nuclei positive.

Cancer Biomarker Market Segment
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

Cancer Biomarker Market Major Players and Strategies
Major players in the cancer biomarker market are F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific, Inc., QIAGEN N.V., Illumina, Inc., Bio-Rad Laboratories, Inc., Abbott Laboratories, bioMérieux SA, Becton, Dickinson and Company and Merck Millipore.

In May 2021, GE Healthcare, a US-based company engaged in diagnostics, therapeutics, and monitoring through intelligent devices, decision support tools, data analytics, and applications acquired Zionexa for an undisclosed amount. Through this acquisition, GE Healthcare expanded its pipeline of neurology and oncology tracers to aid doctors in treating patients individually. Zionexa is a France-based company that develops in-vivo biomarkers for directing tailored treatments in oncology.

The Cancer Biomarker Global Market Report 2023 covers regional data on cancer biomarker market size, cancer biomarker market trends and drivers, opportunities, strategies, and cancer biomarker market competitor analysis. The countries covered in the cancer biomarker market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

A cancer biomarker refers to a biological molecule present in the blood, tissues, or other bodily fluids, that indicates the presence of normal or abnormal activity, as well as a condition or disease. Cancer biomarkers are used to characterize alterations in the tumor.

View More Reports Related To The Cancer Biomarker Market –
Cancer Biologics Global Market Report 2023
Lung Cancer Drugs Global Market Report 2023
Skin Cancer Drugs Global Market Report 2023

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