According to a new report published by UnivDatos Markets Insights, the cancer biomarker market was valued at USD 11.63 billion in 2021 & is expected to grow at a CAGR of 13% from 2022-2030. The analysis has been segmented into Type (Protein, Genetic Biomarker, and Glycol-Biomarkers); Application (Prostate Cancer, Breast Cancer, Lung Cancer, Colorectal Cancer, Cervical Cancer, Stomach Cancer, Liver Cancer, and Others); Profiling Technologies (Omics Technologies, Imaging Technologies, Immunoassays, Bioinformatics, and Cytogenetics); Application (Drug Discovery & Development, Diagnostics, Prognostics, and Others); Region/Country.
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The cancer biomarker market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the cancer biomarker market. The cancer biomarker market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the cancer biomarker market at the global and regional levels.
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Key Market Driver
The surge in the incidences of cancer is one of the key driver boosting the growth of the market. According to the American Cancer Society, "Cancer and Figures 2022", there was an estimated 1.9 million new cancer cases diagnosed in 2022. Moreover, as per the same source in 2020, the most common cancers were breast (253,465), lung (227,875), prostate (209,512), and colon (101,809) in the U.S. Thus, the increasing cases of cancer require early treatment which is expected to increase the demand for cancer therapies over the forecast period. Further, the rise in pharmaceutical investment is also driving the market growth. For instance, in December 2020, US Food and Drug Administration (FDA) approved next-generation sequencing-based companion diagnostic for EGFR Exon 20 insertion mutant non-small cell lung cancer tumor tissue by Thermo Fisher Scientific. Further, in April 2021, F. Hoffmann-La Roche Ltd. released the Elecsys Anti-p53 immunoassay to aid in the diagnosis of various cancer kinds.
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COVID-19 Impact
COVID-19 had a profound impact on the global cancer biomarker market. With the spread of the virus, several dental offices have closed or reduced their services, leading to decline in the demand of the tablets. However, people have become more cautious about going to dentists, thus also having a negative impact for cleansing tablets among patients who are cleaning their own appliances at home.
· By on the type, the market is segmented into protein, genetic biomarker, and glycol-biomarkers. The genetic biomarkers held a dominant share of the market in 2021.
· By indication, the market is segmented into prostate cancer, breast cancer, lung cancer, colorectal cancer, cervical cancer, stomach cancer, liver cancer, and others. The lung cancer segment is anticipated to grow with a significant CAGR during the forecast period.
· Based on profiling technologies, the market is segmented into omics technologies, imaging technologies, immunoassays, bioinformatics, and cytogenetics. The omics held a significant share of the market in 2021.
· Based on application, the market is segmented into drug discovery & development, diagnostics, prognostics, and others. The drug discovery & development is expected to grow with significant CAGR during the forecast period.
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Cancer Biomarker Market Geographical Segmentation Includes:
· North America (U.S., Canada, and the Rest of North America)
· Europe (Germany, UK, Spain, France, Italy, Rest of Europe)
· Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific)
· Rest of the World
North America held a dominant share of the market in 2021 owing to the increasing consumer demand for effective and convenient oral care products. Moreover, the presence of key players including Colgate, GlaxoSmithKline, Procter & Gamble, and others, and associated strategic alliances by them to launch products is another factor driving the growth of the market. For instance, in 2020, Procter & Gamble entered into collaboration with The Clorox Company to develop and launch a new cancer biomarker, Crest and Clorox Cleaning & Whitening Solution, that incorporated both companies’ expertise in cleaning technology.
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the cancer biomarker market. The major players have been analyzed by using research methodologies such as Porter’s Five Forces Analysis for getting insight views on global competition.
Recent Developments:
· In February 2022, OncoDNA introduced the OncoDEEP Solid Tumor Biomarker Test Kit. The OncoDEEP kit, which includes Twist Bioscience's enrichment and library preparation solutions, will give labs a complete and reliable solution for performing comprehensive NGS analysis of tumor samples.
· In June 2022, Nonagen Bioscience announced CE marking for its Oncuria immunoassay for bladder cancer. Oncuria is the first-of-its-kind multiplex urine test for the quantitative detection of 10 biomarkers in urine that are associated with the presence of bladder cancer.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the cancer biomarker market?
• Which factors are influencing the cancer biomarker market over the forecast period?
• What are the global challenges, threats, and risks in the cancer biomarker market?
• Which factors are propelling and restraining the cancer biomarker market?
• What are the demanding global regions of the cancer biomarker market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
• What are the descriptive profiles of key companies along with their SWOT analysis?
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