Market Size
The Global Cancer Biomarker Market reached USD 13.2 billion in 2022 and is expected to witness lucrative growth by reaching up to USD 32.5 billion by 2031. The global cancer biomarker market is expected to exhibit a CAGR of 12.3% during the forecast period (2024-2031). The global cancer biomarker market has grown significantly in recent years and is projected to continue on its upward trend.
The market is undergoing a transformational period, influenced by several significant trends such as the emergence of liquid biopsy, use of genomic biomarkers, immuno-oncology biomarkers, and integration of artificial intelligence (AI).
Furthermore, increasing prevalence of cancer, shift towards personalized medicine, technological advancements in biomarkers, increasing focus on early detection, and rising adoption of targeted therapies is driving up the cancer biomarker market size. Due to the advancements of technologies in these fields, the market is seeing an increase in demand from North American regions with significant competitors like F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific, Inc., QIAGEN N.V., and others actively operating in the market.
Market Scope
| Metrics | Details |
| CAGR | 12.3% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Cancer Indication, Biomarker Type, Profiling Technology, End User |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Infection Type Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
Growing Prevalence of Cancer Drive the Growth of the Cancer Biomarker Market
The increasing global cancer prevalence is a primary driver of the cancer biomarkers market. With cancer being the major cause of morbidity and mortality, there is a greater need for efficient diagnostic, prognostic, and monitoring tools. For instance, according to World Health Organization (WHO) 2022 report, cancer is the major cause of death accounting approximately 10 million deaths in 2020.
Furthermore, breast cancer is the most prevalent cancer accounting 2.26 million new cases, followed by lung, colon and rectum cancer. Whereas, lung cancer has led to highest number of deaths of 1.80 million. In order to meet the unmet demands in cancer care spurred by the rising burden of the disease, biomarkers are essential for early detection, diagnosis, personalized treatment selection, and patient monitoring. Thereby, driving the market over the forecast period.
Increase in Strategic Developments will Drive the Demand for Cancer Biomarker Market
Strategic innovations are expected to boost growth in the cancer biomarkers market. This comprises mergers, acquisitions, collaborations, partnerships, product launches, and research collaborations performed by pharmaceutical corporations, diagnostic laboratories, and biotechnology firms. These programs seek to improve market position, obtain a competitive advantage, and foster innovation in the field of cancer biomarkers.
For instance, in March 2022, Vela Diagnostics has launched advanced next-generation sequencing (NGS) panels for detecting RNA and DNA cancer biomarkers in formalin-fixed paraffin-embedded (FFPE) tissue samples. The focused OncoKey SL 60 Plus Panel and the extensive OncoKey SL 525 Plus Panel are among these.
These panels provide a single, comprehensive test for pan-cancer analysis, detecting insertions/deletions (INDELs), copy number variations (CNVs), single nucleotide variations (SNVs), fusions, splice variants, microsatellite instability (MSI), and oncogenic viruses and bacteria. Thus, owing to increasing approval of drug for overcoming depression will drive the demand for global cancer biomarker market.
High Cost of Biomarkers will Hamper the Growth of the Market
The high cost of biomarkers is a major obstacle to market growth. Biomarker development requires considerable research, validation, and regulatory processes, all of which can be costly and time-consuming. The costs of biomarker discovery, clinical validation, assay development, and commercialization limit access and affordability.
The median per-patient total payer lifetime costs of biomarker testing vary by cancer type. For example, the median expenditures for lung, metastatic lung, thyroid, and metastatic thyroid cancer range from $148 to $462. Furthermore, payers' total lifetime biomarker expenditures range from $128 to $477, depending on the healthcare plan.
Market Segment Analysis
The global cancer biomarker market is segmented based on cancer indication, biomarker type, profiling technology, end user and region.
Owing to the High Prevalence and Product Approvals, the HER-2 Segment Accounted for Approximately 31.6% of the Cancer Biomarker Market Share
The HER-2 segment is projected to dominate the market for cancer biomarkers. The biomarker HER-2 (Human Epidermal Growth Factor Receptor 2) is well-known for its association with breast and stomach malignancies. It plays an important role in identifying patients who will benefit from HER-2-targeted medicines like trastuzumab (Herceptin). The high prevalence of HER-2-positive breast and gastric cancers, combined with the efficacy of targeted therapy, has resulted in the HER-2 segment dominating the market.
For instance, according to the American Cancer Society 2022 report, higher levels of HER2 protein are found in 15% to 20% of breast tumours. These are known as HER2-positive breast cancers. Furthermore, in August 2022, Enhertu (fam-trastuzumab-deruxtecan-nxki), an IV infusion, was approved by the U.S. FDA for the treatment of patients with unresectable or metastatic HER2-low breast cancer.
Moreover, Enhertu is the first approved medication that precisely targets the HER2-low breast cancer subtype, a newly recognized subset of HER2-negative breast cancer. Thus, the approval of Enhertu boosts the market dominance of the HER-2 segment over the forecast period.
Market Geographical Share
North America Accounted for Approximately 40.1% of the Market Share in 2022, Owing to the Presence of Major Market Players
The market for antidepressant medications is anticipated to be dominated by North America owing to this factor, as this region is home to significant market participants in the pharmaceutical sector, such as top companies and research organizations, rising geriatric population, increasing cancer cases in U.S, and expanding research and development activities. Also these sectors have a substantial market presence and the financial means to support industry development.
For instance, according to the Center for Disease Control and Prevention statistics of September 2022, each year, around 264,000 cases of breast cancer are identified in women, with roughly 2,400 cases diagnosed in men. Breast cancer affects the lives of over 42,000 women and 500 men in the U.S. each year. It is worth noting that Black women have a higher breast cancer mortality rate than White women. Thus owing to the above factors, the market for cancer biomarker will grow at significant rate in this region over the forecast period.
Market Key Players
The major global players in the cancer biomarker market include F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific, Inc., QIAGEN N.V., Illumina, Inc., Bio-Rad Laboratories, Inc., Abbott Laboratories, bioMérieux SA, Enzo Biochem, Inc., Merck Millipore, Micron Technology, among others.
Russia Ukraine Conflict Analysis
The Russia-Ukraine conflict has the potential to have a wide-ranging influence on the cancer biomarker market. Among the potential consequences include disruptions in the supply chain of biomarker-related products, economic instability leading to reduced healthcare spending, diversion of resources away from research and development, strain on healthcare infrastructure, and regulatory issues.
These effects result in biomarker availability delays or shortages, lower investment in biomarker technology, slowed biomarker research advancement, restricted access to healthcare services, and increased regulatory uncertainties. The magnitude of the impact will be determined by the duration and intensity of the conflict, as well as the mitigation measures implemented.
Key Developments
- On April 25, 2023, Guardant Health, Inc., a leading precision oncology company, and the Parker Institute for Cancer Immunotherapy (PICI), a network with the world's highest concentration of immuno-oncology (IO) expertise, announced a research collaboration agreement to study the relationship between molecular cancer biomarkers and patient response to immunotherapy treatment across more than 14 different types of cancer.
- On November 24, 2022, OncoDNA, a precision medicine company specialising in the treatment of cancer and genetic diseases, and Eli Lilly Italia, a health care company delivering life-changing medicines, have announced a partnership to facilitate access to biomarker testing and support the selection of the best treatment for thyroid cancer patients in Italy.
- On April 2, 2023, Oxford Cancer Biomarkers Ltd (OCB), a pioneer in AI-driven precision cancer diagnoses, has completed its funding round. Plutus Investment Group LLP led the round, which included new and current investors such as UK-based venture capital funds Esperante Ventures, Longwall Ventures, and Panacea Innovation, as well as entrepreneur and professional investor Mr. BK Lee.
Why Purchase the Report?
- To visualize the global cancer biomarker market segmentation based on cancer indications, biomarker type, profiling technology, end user, and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of cancer biomarker market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as excel consisting of key products of all the major players.
The global cancer biomarker market report would provide approximately 53 tables, 54 figures and 195 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
