Cancer Biomarker Market Size, Share & Trends Analysis Report By Type (Genetic Biomarker, Protein Biomarker, Other Cancer Biomarkers), By Cancer (Lung Cancer, Prostate Cancer, Melanoma, Thyroid CancerKidney Cancer, Bladder Cancer, Leukemia, Non-Hodgkin's lymphoma, Colorectal Cancer, Breast Cancer, Other Cancers), By Profiling Technology (Genomics, Other Omics Technology, Ultrasound, MRI, Mammography, Cytogenetics, Bioinformatics, In Situ Hybridization, Immunoassays, PET, CT, Imaging Technologies, Proteomics, Omics Technologies, Other Cytogenetics), By Application (Research, Risk Assessment, Prognostics, Diagnostics, Other Applications) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Market Overview

The global cancer biomarker market size was valued at USD 15.86 billion in 2023. It is estimated to reach USD 55.57 billion by 2032, growing at a CAGR of 14.95% during the forecast period (2024–2032). The global cancer biomarker market is primarily driven by the surging number of cancer cases worldwide. Furthermore, the paradigm shift toward personalized medicine for cancer treatment has significantly increased the demand for cancer biomarkers, which allow for early detection, prognosis, and targeted therapy selection. This is estimated to provide promising opportunities for players in the oncology biomarkers market.

Cancer biomarkers are biological molecules found in blood, other body fluids, or tissues that signify the presence of cancer in the body. These biomarkers can be genes, proteins, or specific cells, and they provide valuable information about the cancer type, its progression, and the likely response to treatment. By identifying and measuring cancer biomarkers, healthcare professionals can diagnose cancer at an early stage, monitor the effectiveness of treatments, and predict patient outcomes.

Biomarkers play a crucial role in personalized medicine, enabling tailored treatment strategies that target specific cancer characteristics in individual patients. They also aid in the development of new cancer therapies and in understanding the underlying mechanisms of cancer biology. As research advances, the discovery and validation of novel cancer biomarkers continue to improve the accuracy and efficacy of cancer diagnostics and treatments, offering hope for better patient care and outcomes.

Highlights

• Protein biomarkers dominate the type segment.
• Breast cancer dominates the cancer type segment.
• Diagnostics dominates the application segment.
• North America is the highest shareholder in the global market

Market Dynamics

Global cancer biomarker market drivers

Increasing prevalence of cancer

The rising prevalence of cancer globally is a significant driver for the cancer biomarker market. According to the World Health Organization (WHO), cancer is the second leading cause of death worldwide. Also, as per GLOBOCAN there were an estimated 9.7 million cancer-related deaths in 2022. The growing burden of cancer necessitates the development of effective diagnostic tools to detect the disease at an early stage, thereby increasing the demand for cancer biomarkers.

These biomarkers help in the early diagnosis and treatment of various types of cancer, including breast, lung, prostate, and colorectal cancers. The advancements in genomics and proteomics have facilitated the identification of new cancer biomarkers, which further accelerates market growth. For instance, the discovery of BRCA1 and BRCA2 genes has significantly improved the diagnosis and management of breast and ovarian cancers. This is anticipated to augment the global market growth.

Technological advancements in biomarker discovery

Technological advancements in biomarker discovery and validation are propelling the growth of the cancer biomarker market. Innovations in high-throughput technologies, such as next-generation sequencing (NGS) and mass spectrometry, have revolutionized the field of biomarker research. These technologies enable the identification and quantification of potential biomarkers with high accuracy and efficiency.

Furthermore, the integration of artificial intelligence (AI) and machine learning (ML) algorithms in biomarker discovery processes has enhanced the predictive power of these biomarkers. For example, AI-driven platforms can analyze large datasets to identify patterns and correlations, facilitating the discovery of novel biomarkers. The collaboration between pharmaceutical companies and research institutions to develop biomarker-based diagnostic and therapeutic solutions also boosts market growth. As a result, the cancer biomarker market is expected to witness substantial growth due to continuous technological innovations.

Global cancer biomarker market restraint

High cost and complexity of biomarker validation

One of the major restraints in the cancer biomarker market is the high cost and complexity associated with biomarker validation. The process of biomarker discovery and validation involves extensive research and clinical trials, which require significant financial investment and time. Additionally, the regulatory requirements for the approval of biomarker-based diagnostic tests are stringent, further complicating the validation process.

The need for large-scale studies to demonstrate the clinical utility and effectiveness of biomarkers adds to the overall cost. For instance, the development of the Oncotype DX test, a genomic test for breast cancer, involved multiple clinical trials and significant investment in research and development. These challenges hinder the commercialization of new biomarkers and limit the accessibility of biomarker-based diagnostic tests, particularly in developing regions.

Global cancer biomarker market opportunities

Personalized medicine and targeted therapies

The growing emphasis on personalized medicine and targeted therapies presents a significant opportunity for the cancer biomarker market. Personalized medicine aims to tailor treatment plans based on an individual's genetic makeup and the molecular characteristics of their disease. Cancer biomarkers play a crucial role in identifying patients who are likely to benefit from specific targeted therapies, thereby improving treatment outcomes.

For example, the use of HER2 biomarkers in breast cancer patients helps identify those who are likely to respond to trastuzumab (Herceptin) therapy. Similarly, the presence of EGFR mutations in non-small cell lung cancer (NSCLC) patients can guide the use of EGFR inhibitors like erlotinib and gefitinib. The increasing adoption of personalized medicine in oncology drives the demand for cancer biomarkers, creating lucrative opportunities for market growth.

Regional Analysis

Based on region, the global market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. 

North america dominates the global market

North America holds the largest share of the global cancer biomarker market and is expected to see substantial growth during the forecast period. Several key factors contribute to this dominance. The high cancer burden in the United States, with an estimated 1.9 million new cases in 2022, underscores the need for effective diagnostic tools like cancer biomarkers. The region benefits from an advanced healthcare infrastructure and significant investments in cancer research. For example, the National Cancer Institute allocated $6.56 billion in 2022, highlighting the commitment to advancing cancer diagnostics.

Additionally, initiatives such as the NCI's Cancer Biomarker Research Group are pivotal in promoting the discovery and validation of novel biomarkers, reinforcing North America's leading position. Moreover, the presence of major players like Roche Diagnostics, Abbott Laboratories, and Thermo Fisher Scientific, which invest heavily in R&D, product launches, and strategic partnerships, bolsters market growth. These companies' robust investment strategies and innovative developments play a critical role in maintaining North America's market leadership. Thus, the high cancer incidence, substantial research funding, supportive initiatives, and the presence of key industry players collectively drive the growth of the cancer biomarker market in North America.

Europe is the sub-dominant region during the forecast period. According to the World Health Organization's Cancer Country Profiles 2023, Europe accounted for 23.4% of global cancer cases in 2020, indicating a significant cancer burden in the region. The European Union (EU) has actively supported cancer biomarker research through initiatives such as the Innovative Medicines Initiative (IMI) and the Horizon Europe program, which promote innovation and collaboration in the field. For example, the IMI's Cancer-ID project, which has been funded with €8.6 million, aims to develop and validate cancer biomarkers for personalized medicine. Furthermore, organizations such as the European Association for Cancer Research (EACR) and the European Society for Medical Oncology (ESMO) play critical roles in advancing cancer biomarker research and facilitating collaboration among researchers and industry stakeholders in Europe. Moreover, Qiagen, Merck KGaA, and Sysmex Corporation are key players in the European cancer biomarker market, helping to advance cancer diagnostics and personalized medicine. Consequently, all these factors are estimated to expedite the European cancer biomarker market growth.

Segmental Analysis

The global cancer biomarker market is segmented by type, cancer type, profiling technology, and application.

Based on type, the global cancer biomarker market is bifurcated into protein biomarkers, genetic biomarkers, and others.

The protein biomarker segment is the highest contributor to the global cancer biomarker market and is expected to witness substantial growth during the forecast period. Monitoring biological processes, such as disease development, is significantly enhanced by measurable changes in protein biomarkers. These proteins can often be measured more rapidly than the complex biological events they represent, making them highly valuable in clinical settings. During the forecast period, the protein biomarker segment is anticipated to dominate the global cancer biomarker market. The increasing utilization of protein biomarkers in cancer research is driven by their ability to facilitate the development of more effective cancer treatments. Protein biomarkers are extensively used for the accurate diagnosis of various cancer types, aiding in the early detection and management of the disease. The precision and efficiency of protein biomarkers in diagnosing and tracking cancer progression underscore their critical role in advancing cancer diagnostics and therapeutics.

Based on cancer type, the global market is bifurcated into breast cancer, lung cancer, colorectal cancer, prostate cancer, non-Hodgkin’s lymphoma, melanoma, leukemia, thyroid cancer, bladder cancer, kidney cancer, and others.

The breast cancer segment is the leading contributor to the Global Cancer Biomarker Market and is projected to exhibit significant growth during the forecast period. The increasing utilization of biomarkers for diagnosing breast cancer is a key factor driving this growth. As the incidence of breast cancer rises globally, the demand for effective diagnostic tools escalates. According to the World Health Organization, breast cancer was the most common cancer worldwide in 2021, accounting for 12% of all new cancer cases annually. This surge in prevalence is primarily attributed to a growing target population and heightened awareness of early testing. These factors are expected to bolster the expansion of the breast cancer biomarker segment throughout the forecast period.

Based on profiling technology, the global market is bifurcated into omics technologies, genomics, proteomics, other omics technology, imaging technologies, ultrasound, CT, MRI, PET, mammography, immunoassays, cytogenetics, in situ hybridization, other cytogenetics, and bioinformatics.

The omics technologies segment dominated the market and is expected to grow during the forecast period. Omics technologies have revolutionized our understanding of bacterial physiology, pathogenicity, stress responses, and the mechanisms of action (MOA) of antimicrobial drugs. These advanced technologies have significantly contributed to the discovery of biomarkers, the identification of signaling molecules related to cell development and death, cellular metabolism, and early-stage cancer diagnosis. In particular, omics technologies have proven exceptionally valuable for the early detection of cancer. The market for cancer biomarkers is expected to experience substantial growth, driven by the development and adoption of cutting-edge profiling technologies that enhance the identification and utilization of cancer biomarkers.

Based on application, the global market is bifurcated into diagnostics, research, prognostics, risk assessment, and others.

The diagnostics segment is the highest contributor to the market and is expected to grow during the forecast period. Advances in cancer detection and therapy have shifted the focus from short-term goals, such as merely curing the illness, to long-term objectives like enhancing the quality of life for cancer survivors, particularly those with pediatric tumors. Conventional cancer diagnostic and therapeutic methods have faced challenges due to rising systemic toxicities and resistance. Consequently, innovative approaches, including nanotechnology, are being explored to improve disease identification and mitigate its impact. Additionally, the increasing approval of companion diagnostic tests for cancer treatments is expected to drive substantial industry expansion.

Recent Developments

• January 2024- Quibim, a company that employs imaging biomarkers for precision medicine, has integrated a novel cancer detection capability into its prostate tool, QP-Prostate, which is based on AI.
• May 2024- Lantern Pharma Inc. (NASDAQ: LTRN), a prominent artificial intelligence (AI) oncology drug discovery and development company, announced a strategic AI-driven collaboration with French biotechnology company, Oregon Therapeutics. The collaboration aims to optimize the development of Lantern Pharma's first-in-class protein disulfide isomerase (PDI)(1) inhibitor drug candidate, XCE853, in novel and targeted cancer indications.