Cancer Biomarkers Industry Analysis And Market Opportunities, Forecast To 2029 - A Forecasted $42 Billion Landscape, Dominated By Roche, Thermo Fisher Scientific, QIAGEN, Illumina, And Bio-Rad Labs

(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Oct. 23, 2024 (GLOBE NEWSWIRE) -- The "Global Cancer Biomarkers market by Profiling technology (Omics, Imaging), Cancer (Lung, Breast, Leukemia, Melanoma, Colorectal), Product (Instruments, Consumables), Application (Diagnostics, R&D, Prognostics), End-user, and Region - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global cancer biomarkers market is projected to reach USD 42 billion by 2029 from USD 24.5 billion in 2024, at a CAGR of 11.3% during the forecast period. Factors like the rapid improvements in Technology propel market expansion. in the creation of cancer biomarkers and the global rise in cancer incidence. However, the main obstacles to this market's expansion are the difficulties in validating cancer biomarkers and the lack of qualified workers.

Omics technologies segment accounted for the highest CAGR
The market for cancer biomarkers has been divided into two segments based on profiling methods: omics technologies and imaging technologies. Omics technology had the highest compound annual growth rate (CAGR) in 2023. This is explained by the growing use of proteomics and genomics in medication development and discovery as well as improved cancer diagnostics.
The breast cancer segment accounted for the highest growth rate in the cancer biomarkers market, by cancer type, during the forecast period
The market for cancer biomarkers is divided into categories according on the kind of cancer, including non-Hodgkin's lymphoma, kidney cancer, bladder cancer, thyroid cancer, colorectal cancer, prostate cancer, melanoma, leukemia, thyroid cancer, bladder cancer, and other cancer types. In the market for cancer biomarkers in 2023, the breast cancer category had the fastest growth rate due to the increasing progress in technology. The increasing global prevalence of cancer and the development of cancer biomarkers are two important aspects driving this segment's growth.
Diagnostics segment accounted for the highest share
The market for cancer biomarkers has been divided into segments based on application, including risk assessment, prognostics, diagnostics, and research & development. 2020 had the highest CAGR in the research and development sector. This can be linked to the rise in cancer biomarker research and development as well as the growing application of cancer biomarkers in medication discovery and development.
Diagnostic Laboratories segment accounted for the highest share
Based on end user, the cancer biomarker market is segmented into diagnostic laboratories, Biopharmaceutical Companies & CROs, research and academic institutes and other end-users. In 2023, the diagnostic laboratories segment accounted for a larger share of the cancer biomarkers market. he expanding number of clinical laboratories performing cancer biomarker-based diagnostics tests worldwide and the rising prevalence of malignancies are responsible for this end-user segment's sizeable share.
Asia Pacific: The fastest-growing region in cancer biomarkers market
The global cancer biomarkers market is segmented into North America, Europe, the Asia Pacific, Latin America, the Middle East & Africa and GCC Countries. The Asia Pacific region is projected to register the highest CAGR during the forecast period. Rising technological advancements In the development of cancer biomarkers and increasing incidence of cancer worldwide are driving the growth of the cancer biomarkers market in this region.

Research Coverage
This research report categorizes the cancer biomarker market by profiling technology, cancer type, product type, application, end-user, and region. The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the optometry equipment market.

A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; Contracts, partnerships, agreements, new product & service launches, mergers and acquisitions, and recent developments associated with the Surface disinfectant market. Competitive analysis of upcoming startups in the optometry equipment market ecosystem is covered in this report.

Lists of Companies Profiled in the Cancer Biomarkers Market Report:

• F. Hoffmann-La Roche Ltd. (Switzerland)
• Thermo Fisher Scientific, Inc. (US)
• QIAGEN N.V. (Netherlands)
• Illumina, Inc. (US)
• Bio-Rad Laboratories, Inc. (US)
• Abbott Laboratories (US)
• bioMerieux SA (US)
• Becton, Dickinson and Company (US)
• Merck Millipore (US)
• Agilent Technologies (US)
• Myriad Genetics, Inc. (US)
• Sysmex Corporation (Japan)
• Hologic, Inc. (US)
• Quest Diagnostics (US)
• Centogene N.V. (Germany)
• BioGenex (India)
• Siemens Healthineers (Germany)
• Exact Sciences (US)
• R&D Systems, Inc. (US)
• BioVision, Inc. (US)
• Olink (Sweden)
• Asuragen, Inc. (US)
• Meso Scale Diagnostics, LLC (US)
• Invivoscribe, Inc. (US)
• INOVIQ Ltd. (Australia)

Key Attributes

Report Attribute	Details
No. of Pages	339
Forecast Period	2024-2029
Estimated Market Value (USD) in 2024	$24.5 Billion
Forecasted Market Value (USD) by 2029	$42 Billion
Compound Annual Growth Rate	11.3%
Regions Covered	Global

Premium Insights

• Technological Advancements in Cancer Biomarkers to Drive Market
• Omics Technologies to Dominate Market During Forecast Period
• Lung Cancer Segment Will Continue to Dominate Market in 2029
• Instruments Segment to Dominate Cancer Biomarkers Market in 2024
• Diagnostics Segment to Dominate Market in 2029
• Diagnostic Laboratories Segment to Dominate Market During Forecast Period
• Asia-Pacific to Register Highest Growth Rate During Forecast Period

Market Dynamics

• Drivers
  • Technological Advancements in Cancer Biomarkers
  • Increasing Incidence of Cancer
  • Rising Use of Cancer Biomarkers in Drug Discovery & Development
  • Increasing R&D on Cancer Biomarkers
• Restraints
  • Technical Issues Related to Sample Collection and Storage
  • High Capital Investments and Extensive Timelines for Development of Cancer Biomarkers
  • Unfavorable Regulatory and Reimbursement Scenarios
• Opportunities
  • Personalized Medicine
  • Growing Applications of Companion Diagnostics
  • Emerging Economies
• Challenges
  • Challenges Associated with Cancer Biomarker Validation
  • Shortage of Skilled Professionals

Case Study Analysis

• Case Study: Case of Ovarian Cancer to Illustrate Best Practice in Machine Learning and Shapley Analysis

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Attachment

• Global Cancer Biomarkers Market

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