Cancer Biomarkers Market Growth, Key Players and Trends
The global cancer biomarkers market, valued at US$ 30.39 billion in 2023, is projected to reach US$ 113.54 billion by 2034, growing at a CAGR of 12.73%. This growth is fueled by advancements in technology and the increasing use of artificial intelligence in oncology research and development.
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Cancer Biomarkers Market Overview
Biomarkers play a crucial role in healthcare by providing valuable insights into disease diagnosis, prognosis, treatment response, and personalized medicine. In particular, advancements in molecular biology for detecting tumor biomarkers have greatly enhanced personalized cancer care and improved patient outcomes. Over the years, the discovery of new, more sensitive, and accurate tumor biomarkers has steadily advanced, offering more precise options for cancer diagnosis and treatment.
Cancer Biomarkers Market Trends
In September 2024, the Breast Cancer Research Foundation (BCRF) made a historic investment of $70.3 million, the largest in its 31-year history, to support over 260 scientists at leading academic and medical institutions across 15 countries.
In February 2024, Pfizer Inc. and the American Cancer Society (ACS) launched “Change the Odds: Uniting to Improve Cancer Outcomes™,” a three-year initiative aimed at reducing disparities in cancer treatment. With $15 million in funding from Pfizer, the program focuses on improving cancer care outcomes in underserved areas of the United States.
Regional Insights
North America led the cancer biomarkers market in 2023 and is expected to maintain growth due to the rising cancer incidence and efforts by major players. The U.S. has seen a significant increase in cancer cases, particularly breast cancer, with 51,400 new non-invasive cases and 287,850 invasive cases estimated for March 2022. This surge will likely boost the use of cancer biomarkers in diagnosis. For example, in 2023, the U.S. DCCPS awarded nearly $580 million in grants, supporting global cancer research. Canada also invested $44.7 million in cancer research.
Asia Pacific is predicted to experience the fastest growth during the forecast period. Countries like India, China, and Japan are becoming key markets for cancer biomarkers due to the rising cancer rates and increasing demand for better diagnosis and treatments. India and the UK are collaborating on a £10 million project focused on affordable cancer treatments.
Segmental Insights
- Breast Cancer held the largest share of the cancer biomarkers market in 2023, with breast cancer cases projected to exceed 3 million by 2040.
- Genetic Biomarkers led the biomolecule segment, helping guide personalized treatment plans based on genetic alterations.
- Epigenetics is expected to grow the fastest, as FDA-approved epigenetic drugs show potential for cancer treatment.
- Diagnostics dominated the application segment, with biomarkers playing a critical role in early cancer detection, risk assessment, and treatment monitoring.
- Personalized Medicine is anticipated to grow rapidly, as biomarkers help tailor treatments to the individual genetic profile of tumors.
- Imaging Technologies held the largest share in the technology segment, offering non-invasive and effective methods for screening and monitoring tumors.
- OMICS Technologies are set to grow the fastest, enabling the discovery of numerous biomarkers through high-throughput analysis, advancing precision medicine.
Top Companies in the Cancer Biomarkers Market
- Abbott
- Sino Biological Inc
- Hologic, Inc
- Agilent Technologies
- Merck & Co. Inc
- F. Hoffmann-La Roche AG
- Illumina, Inc.
- Affymetrix Inc
- Thermo Fisher Scientific Inc
- QIAGEN
Our Table of Content (TOC) covers key healthcare market segments, materials, technologies and trends—helping you navigate market shifts and make informed decisions: https://www.towardshealthcare.com/table-of-content/cancer-biomarkers-market-sizing
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