Cancer Biomarkers Market Worth 17,689.0 Million USD by 2020
PUNE, India, August 28, 2015 /PRNewswire/ --
According to a new market research report "Cancer Biomarker Market by Tumor (Breast, Lung, Prostate) Type (Protein & Genetic Biomarkers) Profiling Technology (Proteomics, Genomics, Imaging, Immunoassay) Application (Diagnostic, Drug Discovery, Prognostic) & Geography - Global Forecast to 2020", published by MarketsandMarkets, The Cancer Biomarkers Market is expected to reach around 17,689.0 Million USD by 2020 at a CAGR of 13.9% during the forecast period of 2015 to 2020.
Browse 191 Tables and 38 Figures spread through 174 Pages and in-depth TOC on "Cancer Biomarker Market"
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The Cancer Biomarkers Market is valued at USD 9,227.5 Million in 2015, at USD 17,689.0 Million by 2020 and is expected to grow at a CAGR of 13.9% during the forecast period of 2015 to 2020.
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Cancer biomarkers are molecules secreted by a tumor or a specific response of the body to the presence of cancer. These are also referred as substance or processes which are indicative of the presence of cancer in the human body, which enhances the cancer detection and facilitate high speed, non-invasive diagnosis using genomics and proteomics based tools. The cancer biomarkers are used for drug discovery and development, diagnostics, personalized medicine, and therapeutics.
In this report, the cancer biomarkers market is segmented on the basis of type of biomarkers, tumor type, profiling technologies, applications, and region. Based on biomarker type, the market is segmented into protein biomarkers, genetic biomarkers, and others which include viral, cell, and carbohydrate biomarkers. Based on tumor type, the market is segmented into breast cancer, lung cancer, colorectal cancer, prostate cancer, cervical cancer, and other type of cancers such as Gastrointestinal Stromal Tumors (GIST), lung, ovarian, bladder, pancreatic, kidney, melanoma, and leukemia cancers. Based on profiling technologies, the market is segmented into omics technologies, imaging technologies, immunoassays, cytogenetics, and bioinformatics. Based on applications, the market is segmented into diagnostics, drug discovery and development, prognostics, risk assessment, and others which include surrogate endpoints, recurrence, personalized medicine, and therapeutics. This report also discusses key market drivers, restraints, opportunities, and challenges for this market and its submarkets. The global cancer biomarkers market is expected to reach USD 17,689.0 million by 2020, at a CAGR of 13.9% from 2015 to 2020.
The diagnostics segment is the largest application of cancer biomarkers which includes tests that access the biological makeup of individuals at the molecular level to determine the individual's predisposition to a particular disease or condition and diagnose it. With the introduction of new technologies and applications, this is one of the most rapidly advancing areas of research and medicine. The rising prevalence of cancer; increasing demand for advanced diagnostics tests; increased awareness and acceptance of diagnostics tests; advancement in technologies; and the need for early-stage cancer diagnosis further propels the growth of this market.
In 2014, North America accounted for the largest share of the cancer biomarkers market, followed by Europe, Asia-Pacific, and RoW. The major shares of North America and Europe are primarily attributed to rising prevalence of cancer, faster adoption of advanced technologies like advanced high throughput technologies, increasing research studies on discovery and development of novel biomarkers, presence of large number of pharmaceutical companies, rising funding and investment from public and private organizations, presence of key players in these regions, and rising applications of biomarkers in patient stratification and drug development process. The future growth of the cancer biomarkers market will be driven by the Asia-Pacific region, owing to the rising incidence of cancer in this region, increasing use of biomarker tests for diagnosis purposes, expansions of major pharmaceutical companies in emerging Asian economies, and government support to research institutes and universities. However, poorly suited regulatory and reimbursement systems for biomarker tests and requirement of high capital investments for biomarker discovery and development are expected to restrain the growth of this market during the forecast period.
The prominent players in the Cancer Biomarkers Market are Abbott Laboratories (U.S.), Affymetrix Inc. (U.S.), Roche Diagnostics Ltd. (Switzerland), Illumina, Inc. (U.S.), Qiagen N.V. (Netherlands), Agilent Technologies (U.S.), Thermo Fisher Scientific Inc. (U.S.), Merck & Co. Inc. (U.S.), Becton Dickinson and Company (U.S.), and Hologic Inc. (U.S.).
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