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Cancer Biomarkers Market Size Hit US$ 29.8 Billion By 2026

/EIN News/ -- Acumen Research and Consulting, Recently Published Report On “Cancer Biomarkers Size, Share, Growth Opportunity, Overview, Trends and Forecast, 2019 to 2026”.

LOS ANGELES, Nov. 13, 2019 (GLOBE NEWSWIRE) -- The global cancer biomarkers market is expected to grow at a CAGR of around 11.9% from 2019 to 2026 and reach the market value of around US$ 29.8 Bn by 2026.

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North America dominated the cancer biomarkers market in 2018 due to high ongoing research in the development of cancer biomarkers, mergers & collaborations for the development and commercialization of products, favorable reimbursement for cancer diagnosis & treatment, and awareness about companion diagnostics and personalized medicines. For instance, in January 2017, Gene News launched a blood-based biomarker test, Breast Sentry, for risk assessment of breast cancer in the U.S. Asia Pacific is anticipated to observe the fastest growth during the forecasts period in the market. This can be attributed to increasing investment by market players in this region due to the availability of large targeted patient population, supportive government regulations in many countries, and increasing disposable income. According to the recent cancer data published by the World Health Organization (WHO) in 2018, about half of new cases and more than half of cancer deaths in 2018 are estimated to occur in Asia as the region has about 60% of the global population.

Based on type, the cancer biomarkers market has been segmented into protein biomarker, genetic biomarker, and others. Other segment includes viral, cell, and carbohydrate biomarkers. Protein biomarkers accounted for the largest segment in the market in 2018 due to its ability for early diagnosis and the presence of several commercial biomarkers.

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On the basis of technology used for profiling, the market has been categorized into omics technology, immunoassay, imaging technologies, and cytogenetic testing. The omics technology segment accounted for the largest share of the market in 2018. This can be attributed to a revolution in the omics technologies since the last decade responsible for the increase in the applications of biomarkers. 

Based on the application, the prognostics segment held the maximum share of the market in 2018 and is expected to maintain its dominance during the forecast period. However, the diagnosis segment is anticipated to witness the fastest growth in coming years.

Based on the cancer type, breast cancer accounted for the largest share of the market due to more awareness about screening, availability of commercialized products, and high sensitivity of markers to detect breast cancer. Lung cancer, colorectal cancer, prostate cancer, leukemia, thyroid gland cancer, kidney cancer, and bladder cancer are some of the other cancers where biomarkers are used for various applications. 

The cancer biomarkers market dominated by Abbott Laboratories, Agilent Technologies, Becton Dickinson and Company, Hologic, Illumina, Merck & Co., Qiagen N.V., Roche Diagnostics, and Thermo Fisher Scientific. Growing need of cancer biomarkers for the detection and monitoring of cancer is the major reason to invest in the market. Research and development activities, commercialization of sensitive products, and collaborations for the development & commercialization have been the most adopted strategies by industry players to enhance their share in the market.

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  • Cancer Diagnostics Market - The global market size is expected to worth around USD 250.3 billion by 2026. The market is predictable to showcase a CAGR of 7.2% during the forthcoming years 2019 to 2026.
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Some of the key observations regarding cancer biomarkers industry include:

  • In May 2019, QIAGEN launched the first FDA approved therascreen PIK3CA RGQ PCR Kit, a companion diagnostic to support in detecting breast cancer patients who are eligible for the treatment of PIQRAY, a new therapy by Novartis.
  • In May 2019, Roche launched HER2 biomarker test for gastric and breast cancer in the UK. The human epidermal growth factor receptor -2 is a key biomarker detect in gastric and breast cancers and its identification and inhibition can help in the management of aggressive cancers. The test is already launched in Europe, Asia pacific, Middle, East & Africa, and Latin America. 
  • In May 2019, Biotech Support Group (BSG) signed a research collaboration agreement with Leiden University Medical Center (LUMC). Both the organization will work to develop protein biomarkers.
  • In November 2018, Biocartis Group NV entered into an agreement with the AstraZeneca to obtain fast lung cancer molecular diagnostic biomarker results across Europe. The study is expected to initiate at various sites in France, Italy, Belgium, and Germany.
  • In June 2018, MDxHealth signed an agreement with Philips for phosphodiesterase-4D7 (PDE4D7), a prognostic prostate cancer biomarker. The agreement facilitates the launch of MDxHealth’s InformMDx, a test for prostate cancer.
  • In June 2017, Trovagene signed an agreement with AstraZeneca to provide the company’s urine based ctDNA biomarker test to AstraZeneca for use in its study. According to the deal, AstraZeneca will use Trovagene's Trovera EGFR urine liquid biopsy test and evaluate whether urine and blood combination testing are as effective as tissue testing in identifying EGFR T790M mutation status.

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