Global Cancer Biomarkers Market Size and Share Value Envisaged to Reach USD 53.36 Billion By 2032, at 14.6% CAGR: Polaris Market Research

NEW YORK, Oct. 26, 2023 /PRNewswire/ -- A latest research report [110+] pages with 360-Degree visibility, titled "Cancer Biomarkers Market Share, Size, Trends, Industry Analysis Report, By Type (Breast, Prostate, Colorectal, Cervical, Liver, Lung Cancer), By Biomolecule (Genetic, Epigenetic, Metabolic, Proteomic), By Application, And Segment Forecasts, 2023-2032" published by Polaris Market Research in its research repository.

"According to research report, the global cancer biomarkers market size/share was valued at USD 13.71 Billion in 2022 and is expected to touch USD 53.36 Billion by 2032, growing at a CAGR of 14.6% during the forecast period."

What is Cancer Biomarkers? How Big is Cancer Biomarkers Market Size?

• Overview

Cancer biomarkers are genes, proteins, and other material that can be examined for to disclose crucial features about a person's cancer. Testing for biomarkers may not be of assistance for everybody. However, for people with several kinds of cancer, biomarker testing may offer functional information that could impact their treatment options. The rapidly rising demand for the cancer biomarkers market can be attributed to the fact that biomarkers testing may display if the cancer is more disposed to evolve and proliferate.

The market is propelled by escalating cases of malignancies covering the globe and growing concentration on the advancement of chosen therapies. Increasing pervasiveness of malignancies globally, with cancer being the subsequent principal cause of mortality in the US ensuing cardiovascular illnesses. Especially breast, prostate, and lung malignancies has witnessed a sharp rise in incidence cases, with over 1,600 people approximated to be impacted by these cancers in the US yearly.

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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, Table of Contents, Graphical introduction of regional analysis, Top players in the market with their revenue analysis and our research methodology.)

Our Sample Report May Includes:

• 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
• 115+ Pages Research Report (Inclusion of Updated Research).
• Provide Chapter-wise guidance on Request.
• 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends.
• Includes Updated List of table & figures.
• Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.

Market's Key Understanding from the Report

• The increasing pervasiveness of malignancies, together with a growing concentration on the advancement of chosen therapies, is a predominant element asserting the positive growth of this market.
• The market is primarily segmented based on type, biomolecule, application, and region.
• North America dominated the global market in 2022.

Market Growth Drivers and Trends

·  Growing consciousness among patients and healthcare personnel about the importance of premature identification of malignancies. The cancer biomarkers market size is expanding as the premature observation of cancer is important as it permits for opportune mediation and cure, which can notably enhance patient results and escalate the prospects of triumphant recuperation. Biomarkers play an important role in premature cancer perception as they can stipulate the existence of cancer cells or particular genetic alterations linked with cancer even prior to the manifestation of clinical symptoms. The growing population and escalating life anticipation with the rising geriatric population cause escalated healthcare requirements and pharmaceutical intake because of the escalated pervasiveness of detrimental illnesses. As per the UN, the aggregate number of people aged 65 years and above is anticipated to double in 30 years, escalating to 1.6 billion by 2050, and is estimated to account for 16.5% of the aggregate population in 2050.

·  The growth in escalating demand for customized medicine in cancer cure also rising market demand. Individualized medicines intend to customize treatment based on a person's distinct genetic constitution, lifestyle, and other elements. Biomarkers present as crucial instruments in individualized medicines as they can assist in recognizing particular subtypes of cancer, forecast the answer to specific cures, and observe disease development. The cancer biomarkers market sales are soaring as by utilizing biomarkers to tailor medicaments, healthcare personnel can maximize therapeutic outcomes and decrease the probability of untimely impacts.

Prominent Players in the Market

• Abbott Laboratories
• Agilent Technologies
• Affymetrix
• Becton
• Hologic
• Illumina
• Merck
• QIAGEN
• Roche
• Sino Biological
• Thermo Fisher Scientific

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Cancer Biomarkers Market Outlook

Significant Segmental Breakdown

• Genetic biomarkers segment accounted for the largest market share

Based on biomolecule, the genetic biomarkers segment accounted for the largest market share. The cancer biomarkers market demand is on the rise due to their universal acquisition, escalated degree of reliability, and simplicity of analysis, genetic biomarkers have influenced a sizeable segment of the market. These biomarkers have been influential in discerning over 85% of cancer cases, capitalizing on both genetic and proteomic perspectives.

• Breast cancer dominated the market

Based on type, breast cancer dominated the market. The cancer biomarkers market trends include escalating cases of breast cancer and significant drug initiation. Breast cancer rates are amongst the spearheading kinds of cancer in the US. As per a January 2022 refurbishment by breastcancer.org, roughly one in eight women in the nation are prone to develop breast cancer. In 2022, it is estimated that there will be an approximated 287,850 contemporary cases of breast cancer detected in women, also approximately 51,400 contemporary cases of in-situ breast cancer.

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Regional Analysis

• North America: This region held the largest cancer biomarkers market share due to the high acquisition of inventive technologies, the existence of prominent pharmaceutical firms, entrenched research and development framework, the concentrating of contemporary diagnostic commodities, and an increasing demand for accurate and premature diagnostics. These elements have broadly caused the leading position.
• Asia Pacific: This region is emerging as the fastest growing due to the growing pervasiveness of cancer in the region, which propels the requirement for enhanced diagnostics and treatment alternatives. Further, the region provides an advantageous ambiance for attempting clinical trials and growing government funding reinforcing drug development programs. The escalating regard of pharmaceutical firms in the region and their concentration on inflating the presence there enhance the region's development growth likelihood. Additionally, the growing consciousness and acquisition of biomarker-based diagnosis in the region set out as high-influence drivers pushing the market's development.

Browse the Detail Report "Cancer Biomarkers Market Share, Size, Trends, Industry Analysis Report, By Type (Breast, Prostate, Colorectal, Cervical, Liver, Lung Cancer), By Biomolecule (Genetic, Epigenetic, Metabolic, Proteomic), By Application, And Segment Forecasts, 2023-2032" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/cancer-biomarkers-market         

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Current Improvements

• In March 2023, Servier has recently partnered with QIAGEN to collaboratively develop a novel mIDH1 companion diagnostic test. This joint effort aims to support Servier's Hemato-Oncology Portfolio and represents a significant step forward in the quest for a diagnostic tool capable of identifying patients with acute myeloid leukemia (AML).
• In January 2022, Illumina & SomaLogic joined forces in a co-development partnership to enhance their positions as leading companies in the biomarker research field. They will combine their strengths to accelerate the advancement of clinical opportunities in the field.

What can the Report Help you Find?

• What are the key segments in the cancer biomarkers market?
• How much is the cancer biomarkers market worth?
• At what CAGR is the market predicted to grow during the forecast period?
• Which region is leading the global market?
• What are the key driving factors in the market?

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About Polaris Market Research:

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

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SOURCE Polaris Market Research