The cancer biomarker market size is projected to grow from $ 28.6 billion in 2024 to $ 46.7 billion by 2035, representing a CAGR of 5% during the forecast period from 2024 to 2035.
Over the last couple of decades, the healthcare market has witnessed the entry of several advanced and effective treatment options for cancer; these include a variety of targeted therapies, immunotherapies and certain anti-cancer vaccines as well. However, clinical cancer research is still plagued by high failure rates, various drug / therapy-related limitations, and treatment-based adverse effects, some of which have been proven to be fatal. A prominent concern is associated with deciding the type of treatment option to be used for a specific cancer. Patients suffering from a singular type of cancer, who may be at the same stage of the disease, have been demonstrated to exhibit different molecular profiles, and thereby, may respond differently to recommended drug / therapy types. In order to address this concern, pharmaceutical developers and healthcare professionals have adopted a more personalized approach to disease diagnosis and treatment. This personalized approach has also been referred to as oncology precision medicine. Over time, several molecular markers have been identified and characterized, and many have been validated for use in making important treatment-related decisions.
The role of single analyte biomarkers, such as PD-L1, BRAF, and EGFR, has been well-established across multiple cancer indications. However, owing to the subtle differences in genomic makeup of individual patients, these biomarkers alone have been shown to be insufficient in determining how patients are likely to respond to various drug / therapy types. Advances in biotechnology have enabled the development of several high throughput tools, which have led to the establishment of better biomarkers, based on genome / exome profiles. Novel biomarkers, such as tumor mutation burden (TMB), microsatellite instability (MSI) / mismatch repair (MMR) deficiency, tumor infiltrating lymphocytes (TILs), Single Nucleotide Variants (SNV), Copy Number Variants (CNV) and certain others, are presently being investigated across numerous clinical studies.
Presently, several diagnostics-focused companies have developed / are developing analytical tests for these biomarkers, which are intended to assist physicians in making personalized treatment-related decisions. It is worth highlighting that many big pharmaceutical players have demonstrated interest in this domain and have launched clinical research initiatives to investigate the relevance and applications of multiple novel biomarkers. Having captured the interest of both established companies and start-ups, the cancer biomarker market is poised to grow at a healthy CAGR in the forecast period.
The field of cancer biomarkers has seen a significant rise in research, with over 470 articles published by various researchers, underscoring the growing focus of several industry players and academic players in this domain. During our research, we came across 476 articles focused on cancer biomarkers that have been published in this domain.
It is worth mentioning that the maximum number of articles were published in 2022, followed by articles published in the year 2023 (143). Notably, majority of the publications are focused on the diagnosis of lung cancer using cancer biomarkers. This is followed by articles published for breast cancer (15%), gastrointestinal cancer and kidney cancer (14% each).
In addition, the journal Nature Medicine emerged as the most popular journal with the highest impact factor of 87.241. This is followed by Journal of Clinical Oncology, with an impact factor of 50.717.
Cancer Biomarkers: Market Sizing and Opportunity Analysis
Using our proprietary methodology, we have provided informed projections, describing the historical trends and likely growth opportunity associated with the cancer biomarkers market. As per the base case forecast scenario, the market is estimated to grow at an annualized rate of 5%, during the period 2024 to 2035. This opportunity will likely be well distributed across type of biomarker, type of cancer and key geographical regions.
It is worth mentioning that according to our projections, the markets in North America and Asia-Pacific are likely to capture majority (76%) of the overall share, and this trend is unlikely to change in the future, as well. Further, the market in North America is expected to grow at a relatively faster CAGR (4.9%). This can be attributed to the high prevalence of cancer in the US and Canada.
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