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How has the cancer biomarker market size evolved in recent years?
In recent years, the size of the cancer biomarker market has experienced significant growth. The market value is forecasted to expand from $22.19 billion in 2024 to $25.28 billion in 2025, with a compound annual growth rate (CAGR) of 13.9%. Factors contributing to the growth during the historic period include the move towards personalised medicine, innovations in immunotherapy, evolution in regulatory framework, collaborative efforts in research, and an increased focus on non-coding RNAs.
What are the predictions for the cancer biomarker market size in the coming years?
In the coming years, the cancer biomarker market is expected to experience a swift expansion. By 2029, the market is projected to reach a value of $45.88 billion, with a compound annual growth rate (CAGR) of 16.1%. This projected expansion in the forecast period is primarily due to the shift towards patient-centered diagnostics, the inclusion of biomarkers in clinical trials, the advent of multiplex biomarker panels, the study of non-coding RNAs, and the commercial launch of biomarker tests. Furthermore, the forecast period will be characterized by considerable developments in genomics, advances in precision medicine, increased usage of liquid biopsies, improvements in immunotherapy, and the integration of artificial intelligence (ai).
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What key factors are fueling the growth of the cancer biomarker market?
The growth of the cancer biomarker market is fueled by the increasing prevalence of cancer. The cancer incidence rate, a count of new cases of particular types of cancer occurring within a population over a specific timeframe, expressed as instances per 100,000 people susceptible, is on the rise. The more frequent occurrence of cancer promotes the extensive utilization of cancer biomarkers which assist in evaluating disease risk, screening for concealed primary tumors, differentiating between benign and malignant signs, and distinguishing between different forms of malignancies. For example, research released by the American Cancer Society, a health organization based in the US, in January 2022 indicated an expected 609,360 cancer deaths and 1.9 million new cancer instances in the US for 2022. This roughly equates to 1,670 deaths daily. Consequently, the growing prevalence of cancer is anticipated to spur the evolution of the cancer biomarker market in the forthcoming years.
How is the global cancer biomarker market divided into key segments?
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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Who are the key firms paving the way for growth in the cancer biomarker market?
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.
Which trends are expected to transform the cancer biomarker market?
Major players in the cancer biomarker industry are concentrating their efforts on creating groundbreaking solutions like AI-driven cancer biomarkers, which aim to increase diagnostic precision and tailor treatment plans for patients. Artificial intelligence technologies are used to identify and examine these biological signs of cancer. For example, in September 2023, US firm Ibex Medical Analytics introduced an AI-enhanced solution named Galen Breast HER2. Specially developed to improve the accuracy and reproducibility of HER2 scoring for breast cancer patients, this innovative system helps pathologists by automatically identifying invasive tumor regions and quantifying HER2 expression in accordance with the 2018 ASCO/CAP guidelines. The Galen Breast HER2 technology employs a unique computational pipeline for the analysis of immunohistochemistry (IHC)-stained slides, presenting detailed visual imaging of staining patterns, thus allowing pathologists to make informed decisions regarding treatment.
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What regions are contributing significantly to the growth of the cancer biomarker market?
North America was the largest region in the cancer biomaker market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cancer biomarker market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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