Cancer biomarkers are substances found in blood, urine, or tissues that are indicators of a normal or abnormal process, or of a condition or disease. They help to detect cancer at early stages and enable personalized treatment strategies. Advancing technologies have enabled profiling of several types of cancer biomarkers including proteins, circulating tumor cells, circulating tumor DNA and exosomes.
Market key trends:
The adoption of personalized medicine has significantly accelerated the cancer biomarkers market growth. Personalized medicine helps doctors to understand a patient's genetic makeup and use it to inform treatment decisions. With personalized medicine, cancer biomarkers can be used to determine which treatments will work best for each patient, reducing adverse reactions and improving health outcomes. Advanced biomarker profiling enable physicians to select the most effective therapies for patients based on their unique genetic signatures. This is driving greater demand for cancer biomarkers globally.
Segment Analysis
The global cancer biomarkers market is segmented based on cancer type, biomarker type, technology and application. The cancer type segment is further divided into lung cancer, breast cancer, colorectal cancer, prostate cancer and other cancers. Among these, the lung cancer segment currently dominates the market due to the increasing prevalence of lung cancer worldwide. The biomarker type segment includes genetic biomarkers, protein biomarkers and other biomarkers. Of these, genetic biomarkers hold the largest share as they help in detecting cancer at an early stage as well as assessing cancer risks.
Key Takeaways
The Global Cancer Biomarkers Market Size is expected to witness high growth. The global Cancer Biomarkers Market is estimated to be valued at US$ 380.84 Bn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030.
Regional analysis related content comprises The North America region currently accounts for the largest share in the cancer biomarkers market due to the rising incidence of cancer and growing preference for personalized medicine in the region. Presence of major companies and advanced healthcare infrastructure also support market growth in North America.
Key players related content comprises Key players operating in the cancer biomarkers market are Schlumberger Limited, Rockwell Automation Inc., SIS-TECH Solutions LP, Emerson Electric Company, HIMA Paul Hildebrandt GmbH, Honeywell International Inc., Siemens AG, Yokogawa Electric Corporation, Schneider Electric SE, and ABB Ltd.
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