DUBLIN, Oct. 23, 2024 (GLOBE NEWSWIRE) — By Profiling Technologies (Omics, Imaging), Cancer (Lung, Breast, Leukemia, Melanoma, Colorectal), Products (Equipment, Consumables), Applications The “Global Cancer Biomarkers Market” ( “Diagnostics, R&D, Forecast), End Users, and Regions – Forecast to 2029” report has been added to ResearchAndMarkets.com’s offering.
The global cancer biomarker 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 such as rapid advancement in technology drive market expansion. Creation of cancer biomarkers and increasing global cancer incidence. However, the main obstacles to the expansion of this market are the difficulty in validating cancer biomarkers and the lack of qualified workers.
Omics technology segment accounted for the highest CAGR
The cancer biomarker market is divided into two segments based on profiling techniques: omics technology and imaging technology. Omics technologies had the highest compound annual growth rate (CAGR) in 2023. This is explained by the increasing use of proteomics and genomics in drug development and discovery and improving cancer diagnosis.
Breast cancer segment accounted for the highest growth rate in the cancer biomarker market by cancer type during the forecast period
The market for cancer biomarkers includes non-Hodgkin lymphoma, kidney cancer, bladder cancer, thyroid cancer, colorectal cancer, prostate cancer, melanoma, leukemia, thyroid cancer, bladder cancer, and other cancers. They are classified into categories according to the type of cancer. kinds. In the cancer biomarker market in 2023, the breast cancer category was the fastest growing due to technological advances. The increasing global prevalence of cancer and the development of cancer biomarkers are two key aspects driving the growth of this sector.
Diagnostic segment accounts for highest share
The cancer biomarker market is segmented into segments based on applications such as risk assessment, prognosis prediction, diagnostics, and research and development. In 2020, the R&D sector achieved the highest CAGR. This may be related to the increased research and development of cancer biomarkers and the increased application of cancer biomarkers in drug discovery and development.
Diagnostic testing sector holds the highest share
Based on end user, the cancer biomarker market is segmented into diagnostic laboratories, biopharmaceutical companies and CROs, research institutes and academic institutions, and other end users. In 2023, the diagnostic laboratory segment accounted for a larger share of the cancer biomarkers market. The expanding number of clinical laboratories performing cancer biomarker-based diagnostic tests worldwide and the rising prevalence of malignancies are responsible for the large share of this end-user segment. .
Asia Pacific: Fastest growing region for cancer biomarker market
The global cancer biomarker market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa, and GCC countries. Asia Pacific is projected to register the highest CAGR during the forecast period. Technological advancements in the development of cancer biomarkers and increasing incidence of cancer globally are driving the growth of the cancer biomarkers market in the region.
Research scope
This research report categorizes the Cancer Biomarkers market by profiling technology, cancer type, product type, application, end user, and region. The scope of the report covers detailed information about key factors such as drivers, constraints, challenges, and opportunities influencing the growth of the Optometry Equipment market.
A detailed analysis of key industry players has been conducted to provide insight into their business overview, solutions, and services. Key strategies. Contracts, partnerships, agreements, new product and service launches, mergers and acquisitions, and recent developments related to the Surface Disinfectant Market. This report covers the competitive analysis of upcoming emerging players in the Optometry Equipment market ecosystem.
List of companies profiled in the Cancer Biomarkers market report:
F. Hoffmann-La Roche Ltd. (Switzerland)Thermo Fisher Scientific, Inc. (USA)QIAGEN NV (Netherlands)Illumina, Inc. (USA)Bio-Rad Laboratories, Inc. (USA)Abbott Laboratories (USA)bioMerieux SA ( USA) Becton, Dickinson and Company (USA) Merck Millipore (USA) Agilent Technologies (USA) Myriad Genetics, Inc. (USA) Sysmex Corporation (Japan) Hologic, Inc. (USA) Quest Diagnostics (USA) Centogene NV (Germany) BioGenex (India)Siemens Healthineers (Germany)Exact Sciences (USA)R&D Systems, Inc. (USA)BioVision, Inc. (USA)Olink (Sweden)Asuragen, Inc. (USA)Meso Scale Diagnostics, LLC (USA)Invivoscribe, Inc. (USA) INOVIQ Ltd. (Australia)
key attributes
Report attribute details No. Number of pages 339 Forecast period 2024 to 2029 Estimated market value in 2024 (USD) $24.5 billion Estimated market value by 2029 (USD) $42 billion Average annual growth rate 11.3% Target region Worldwide
premium insights
Technological advances in cancer biomarkers will drive the market Omics technology will dominate the market during the forecast period Lung cancer segment will continue to dominate the market in 2029 Instrumentation segment will dominate the cancer biomarker market in 2024 Diagnostics segment will dominate the market in 2029 Diagnostic laboratories segment will dominate the market during the forecast period Asia Pacific will register the highest growth rate during the forecast period
market trends
Driving Forces Technological advances in cancer biomarkers Increasing incidence of cancer Increasing use of cancer biomarkers in drug discovery and development Increasing research and development of cancer biomarkers Constraining technical issues related to sample collection and storage Significant capital investments and long timelines for cancer biomarker development Opportunities for unfavorable regulatory and reimbursement scenarios Expanding applications of personalized medicine Companion diagnostics Challenges in emerging economies Challenges associated with validating cancer biomarkers Skilled expertise lack of housing
case study analysis
Case Study: Ovarian Cancer Case Demonstrates Best Practices in Machine Learning and Shapley Analysis
For more information on this report, please visit https://www.researchandmarkets.com/r/6mf63u.
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source of international market research reports and market data. We provide the latest data on international and regional markets, key industries, top companies, new products and latest trends.
Global cancer biomarker market
