Cancer Biomarker Market

Market Overview

The Total Addressable Market (TAM) for cancer biomarker was valued at USD 14.02 billion in 2022. It is estimated to reach USD 52.66 billion by 2031, growing at a CAGR of 15.84% during the forecast period (2023–2031).

A biological marker biomarker is a diagnostic tool used to assess health and disease. Biomarker for cancer are biomolecules that can diagnose cancer in the body. Journal of Ovarian Research reports that ovarian cancer is the fifth highest cause of mortality among women with cancer worldwide. Unfortunately, over 70% of people diagnosed with this cancer are already in a late stage by the time they receive treatment. Cancer biomarker are helpful for both early detection and tailoring cancer therapy to the individual. The global cancer biomarker market is predicted to grow due to several factors, including an uptick in the number of people over the age of 65, an increase in the worldwide geriatric population, and advances in technology for cancer detection.

Market Dynamics

Market Drivers

The Rise in the Prevalence of Cancer

Companion diagnostics, tailored therapies, disease threat assessment, and drug discovery and development all heavily use biomarker, but cancer biomarker see a widespread application. The increased incidence of cancer biomarker in developing and developed countries is expected to raise the demand for cancer diagnostics and therapy. It's important to remember that males and females are equally at risk for developing breast cancer. It occurs more frequently in females than in males. For instance, Breastcancer.org estimates that 287,850 fresh cases of invasive breast cancer and 51,400 fresh cases of non-invasive (in situ) breast cancer will be detected in the United States in March 2022. About 30% of cancer incidences in low- and lower-middle-income nations are caused by viruses, including human papillomavirus (HPV) and hepatitis.

Market Restraint

High Treatment Cost

The rising cost of cancer drugs is a global problem that threatens patient access to care and the success of cancer treatment. There is a large gap between drug prices in various nations. Patients must pay for their medical care in countries that do not provide universal health coverage. Novel cancer treatments are mainly out of reach for patients in low and medium-income nations. Every disease kind, every country, and every healthcare system experiences financial toxicity. Younger patients, new immigrants, people of color, and those without private health insurance are at the most significant risk. Value-based pricing of oncology treatments can encourage the research and development of better therapies and reduce wasteful spending. For example, according to statistics updated by ClinicSpots, an online platform for users/patients to engage and discuss symptoms and remedies for their condition, the average cost of cancer treatment in India on June 2, 2022, is roughly USD 6,437, with a minimum expense of USD 1,158 and a maximum price of USD 35,403.

Key Market Opportunities

Presence of Potential Pipeline Candidates

There is a significant investment from the pharmaceutical industry in the discovery of new biomarker for use in the detection and monitoring of cancer. Several candidates are reaching the end of their development cycles. It's anticipated that this will provide a substantial market boost. According to the National Library of Medicine, around 1,515 cancer biomarker are under clinical studies. For instance, clinical trials comparing the effectiveness and safety of atorvastatin are being conducted at Lund University Hospital in conjunction with the South Sweden Breast Cancer Group. The oncology biomarker industry should benefit from the development of novel biomarker for the early detection of cancer. The market is expected to grow because of the rising number of cancer biomarker-related products and diagnostics.

Segmental Analysis

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

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

The protein biomarker segment is the highest contributor to the market and is expected to grow during the forecast period. Biological processes, such as disease development, can be tracked partly by monitoring for measurable changes in proteins that serve as biomarker. Often, proteins can be measured more quickly than the complicated events they stand for, which is why they are so helpful. During the forecast period, this sector is projected to dominate the worldwide cancer biomarker market. Protein biomarker are increasingly used in studies to develop better cancer treatments. Protein biomarker are widely employed for the precise diagnosis of several forms of cancer.

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 highest contributor to the market and is expected to grow during the forecast period. It is increasingly common to employ biomarker to diagnose breast cancer in patients. The category will likely grow throughout the forecast period as the number of people diagnosed with breast cancer rises worldwide. Breast cancer was the most frequent cancer worldwide in 2021, accounting for 12% of new cases each year, as the World Health Organization reported. Many causes are leading to an increase in dominance, but the most important ones are the growing base of the target population and the rising profile of early testing.

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 is the highest contributor to the market and is expected to grow during the forecast period. Crucial insights into bacterial physiology, pathogenicity, stress and the mechanism of action (MOA) of antimicrobial drugs have been revealed by omics technology. Biomarker discovery, the identification of signaling molecules related to cell development, cell death, cellular metabolism, and cancer diagnosis at an early stage have all benefited from the potential of 'omics' technologies. In the case of cancer, omics technology has proven to be very useful for early detection. The growth of the cancer biomarker market is anticipated to be fueled by cutting-edge profiling technologies for cancer biomarker.

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. The focus has shifted from short-term goals like curing the illness to more long-term goals like enhancing the quality of life for cancer survivors, especially those with pediatric tumors, thanks to advances in cancer detection and therapy. Conventional cancer diagnostic and therapeutic methods have been less effective due to rising systemic toxicities and resistance, so new approaches, such as nanotechnology, are being explored to better identify the disease and lessen its impact. The increasing approval of companion diagnostic tests for cancer treatments is projected to confirm industry expansion.

Regional Analysis

The global cancer biomarker market is bifurcated into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.

North America Dominates the Global Market

North America is the most significant shareholder in the global cancer biomarker market and is expected to grow during the forecast period. The increasing prevalence of nonmelanoma skin cancer in the United States is a key factor fueling industry expansion. The North American cancer biomarker market is predicted to grow because of the large number of people diagnosed with cancer and the subsequent rise in cancer-related R&D spending. Major contributors to this domination include the widespread use of cutting-edge technology, the existence of influential pharmaceutical firms, and the existence of a well-developed research.

Europe is expected to grow during the forecast period. An important biomarker for gauging cancer risk and making an early diagnosis has been discovered. Biomarker, particularly those connected with genetic variables, provide a quantitative technique to predict when people are prone to cancer. These cancer biomarker have been developed for practically all of the many cancer types with a high incidence rate. Market expansion is driven by the increasing need for cancer diagnostics, fueled by the rising incidence rates of various cancers. Over 55,000 women are diagnosed with breast cancer yearly in the United Kingdom, making it the country with the highest rate of newly diagnosed cases.

Due to the rising incidence of cancer, a favorable climate for clinical trials, and increased government financing for programs assisting drug development, the Asia Pacific area. One of the high-impact growth drivers is the increasing attention pharmaceutical companies are paying to this region and the growing awareness of the benefits of diagnosis based on biomarker. The rising focus of governments on cancer treatment is also fueling industry expansion. Biomarker-based tests for cancer diagnosis have been increasingly popular in Asia, and cutting-edge laboratory equipment has been increasingly adopted in the region.

During the predicted period, the LAMEA region's worldwide market share is likely to be relatively stagnant. It is related to Africa's weak healthcare infrastructure and delayed economic growth. However, expanding government initiatives to curb the epidemic is anticipated to fuel the market's development. The cancer incidence rate has grown considerably over the past few years and is predicted to rise rapidly over the forecast horizon. Latin America, the Middle East, and Africa are expected to be the fastest-growing regions throughout the projection period due to the rising prevalence of cancer in emerging countries and the increased awareness of biomarker tests in diagnosis.

Recent Developments

• October 2022- The announcement of the strategic cooperation between Agilent Technologies, Inc. and Monash University Malaysia to establish an integrated biology center in Malaysia was exciting.
• August 2022- The collaboration between ABBOTT and WEIGHT WATCHERS aims to help people with diabetes achieve their health and fitness objectives.

Cancer Biomarker Market Segmentation

By Type

• Protein Biomarker
• Genetic Biomarker
• Others

By Cancer Type

• Breast Cancer
• Lung Cancer
• Colorectal Cancer
• Prostate Cancer
• Non-Hodgkin’s Lymphoma
• Melanoma
• Leukemia
• Thyroid Cancer
• Bladder Cancer
• Kidney Cancer
• Others

By Profiling Technology

• Omics Technologies
• Genomics
• Proteomics
• Other Omics Technology
• Imaging Technologies
• Ultrasound
• CT
• MRI
• PET
• Mammography
• Immunoassays
• Cytogenetics
• In Situ Hybridization
• Other Cytogenetics
• Bioinformatics

By Applications

• Diagnostics
• Research
• Prognostics
• Risk Assessment
• Other

By Regions

• North America
• Europe
• Asia-Pacific
• LAMEA