Unlocking Opportunities in the Oncology Biomarkers Market: Key Growth Trends and Forecast Insights
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What is the Growth Potential of the Oncology Biomarkers Market, and How Will It Perform by 2034?
The oncology biomarkers market has expanded rapidly in recent years. It is forecasted to grow from $15.3 billion in 2024 to $17.43 billion in 2025, reflecting a CAGR of 13.9%. The key factors driving its historical growth include increased adoption in emerging economies, precision medicine initiatives, innovations in diagnostics, support for drug development, and a rising incidence of cancer.
The oncology biomarkers market is expected to witness rapid expansion, reaching $29.64 billion by 2029 with a CAGR of 14.2%. This growth will be propelled by the adoption of next-generation sequencing (NGS), advancements in biomarker informatics, a focus on predictive pharmacogenomics, swift developments in exosome-based biomarkers, and the increasing application of spatial transcriptomics. Key trends will include standardization and quality assurance initiatives, a shift toward functional biomarkers, their expanded role in clinical trials, increased applications in immunotherapy, and real-time monitoring of treatment responses.
What Industry-Specific Factors Are Fueling the Growth of the oncology biomarkers Market?
The rising incidence of cancer is expected to drive the growth of the oncology biomarker market. Oncological biomarkers offer insights into the type of cancer by analyzing genes, proteins, and other substances in the body. The National Library of Medicine projected in January 2024 that there will be 2,001,140 new cancer cases and 611,720 cancer-related deaths in the U.S. in 2024, leading to growth in the oncology biomarker market.
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Who Are the Major Companies Shaping the Competitive Landscape of the Oncology Biomarkers Market?
Major companies operating in the oncology biomarkers market include:
• F Hoffmann-La Roche AG_x000D_
• Novartis AG_x000D_
• Thermo Fisher Scientific Inc._x000D_
• Abbott Laboratories_x000D_
• Eli Lilly and Company_x000D_
What Are the Key Emerging Trends in the Oncology Biomarkers Market for the Next Decade?
Adopting innovative technologies is a key trend in the oncology biomarker market. Companies in this sector are introducing new technologies to strengthen their market position. For example, in 2022, OncoDNA, a Belgium-based company focused on precision oncology, launched OncoDEEP, a kit that enables comprehensive biomarker testing. Using next-generation sequencing (NGS) and cloud-based tools, OncoDEEP allows laboratories to perform large-panel sequencing and analyze tumor molecular characteristics, ensuring accurate results and quality control.
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Which Key Market Segments Comprise the Oncology Biomarkers Market and Drive Its Revenue Growth?
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
Which Regions Are Making a Mark in the Oncology Biomarkers Market Growth?
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
How Is the Oncology Biomarkers Market Categorized and Defined in the Industry?
Oncology biomarkers refer to biological indicators, such as genes, proteins, or other molecules, that can signal the presence of cancer or its progression. They are used to diagnose cancer, predict treatment responses, and monitor disease progression or recurrence. By analyzing these biomarkers, healthcare providers can tailor personalized treatment plans for patients.
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