The Brainy Insights
launched a study titled Global Cancer Biomarkers Market Size By Cancer Type
(Breast, Lung, Leukemia, Colorectal, Melanoma, and Others), By Technology
(Cytogenetics Based Tests, Imaging Technologies, Omic Technologies, and Immunoassays),
By Application (Drug Discovery and Development, Diagnostics, Risk Assessment,
Prognostics, and Others), Regions, Global Industry Analysis, Share, Growth,
Trends, and Forecast 2022 to 2030
The global cancer biomarkers market is
expected to grow from USD 15.8 billion in 2021 to USD 48.2 billion by 2030, at
a CAGR of 13.2% during the forecast period 2022-2030. The market has been
growing owing to the increasing
demand for personalized medicines to treat different types of cancer, such as
breast cancer, lung cancer, leukemia, colorectal cancer, etc. is driving growth
of the market. The technological advancement in the development of proper
diagnostics for the treatment of diseases is also propelling market growth.
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The breast cancer segment
dominated the market with market revenue of 3.4 billion in 2021
The cancer type segment is divided into
breast, lung, leukemia, colorectal, melanoma, and others. In 2021, the breast cancer segment dominated
the market with a market revenue of 3.4 billion. The increase in awareness
regarding the diseases and improvement in the diagnosis process of breast
cancer using biomarkers is driving the market growth.
The
omic technologies segment is expected to grow at the fastest CAGR of 15.3% over
the forecast period.
The technology segment is divided into
cytogenetics-based tests, imaging technologies, omic technologies, and
immunoassays. Over the forecast period, the omic technologies segment is
expected to grow at the fastest CAGR of 15.3%. The rising research and development
on proper disease diagnosis and increased investment by the government and
private sectors are driving the market growth of omics technologies.
The diagnostics segment accounted for the largest share of the market
with 33%
The
application segment is divided into drug discovery and development,
diagnostics, risk assessment, prognostics, and others applications. In 2021,
the diagnostics segment dominated the market, accounting for around 33% of
global revenue. The increasing cases of cancers such as breast, lung, leukemia,
colorectal, melanoma worldwide are rising the need for diagnosis, which is
driving the market growth.
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Regional Segmentation Analysis:
The market is analyzed based on five regions
namely North America, Europe, Asia Pacific, South America, and Middle East and
Africa. During the forecast period, North America is expected to be the largest
market. The cancer biomarkers market in North America has been expanding
rapidly due to the growing support from the government and private sector to
improve the diagnosis process of cancer using biomarkers. The regions such as
the US have the highest cases of breast cancer which drives the growth of the
cancer biomarker market in the region during the forecast period.
Competitive Analysis:
The major players in the market include Abbott Laboratories, Bristol-Myers Squibb Company, Merck KGaA, Bio-Rad Laboratories, PerkinElmer, F.Hoffmann-La Roche Ltd., Qiagen N.V., Exact Sciences Corporation, Thermo Fisher Scientific, and Siemens AG. among others.
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