Cancer Biomarkers Market, By Biomarker Type (CA 125, HER2, EGFR, CD20, BRAF, Calcitonin, Others), By Cancer Type (Breast Cancer, Lung Cancer, Prostate Cancer, Kidney Cancer, Liver Cancer, Head & neck Cancer, Non-small Cell Lung Cancer, Other Cancers), By Profiling Technology (OMICS Technology, Imaging Technology, Immunoassays, Cytogenetics, Others), By End User (Hospitals, Specialty Clinics, Diagnostic Laboratories, Academic & Research Institutes, Others), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

Published In : Mar 2024

Code : CMI175

Pages :156

Formats :

Excel and PDF

Industry : Clinical Diagnostic

Cancer Biomarkers Market Size and Trends

Global cancer biomarkers market is estimated to be valued at USD 25.60 Bn in 2024 and is expected to reach USD 59.01 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 12.7% from 2024 to 2031.

Cancer Biomarkers Market Key Factors

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Advancements in precision medicine and personalized cancer treatment boosts demand for cancer biomarkers. The ability of biomarkers to detect cancer at its earliest stages, guide therapeutic options, and monitor the effectiveness of treatment is boosting its adoption across the healthcare industry. Biomarker tools that improve diagnosis and help clinicians develop targeted therapies tailored to an individual patient's tumor characteristics are most widely used in clinical practice. This shift towards precision medicine and individualized care based on a patient's molecular profile is propelling the cancer biomarkers market growth.

High prevalence and incidence of cancer

Rising prevalence of cancer is expected to drive the market growth over the forecast period. Breast cancer is the second most common type of cancer in the U.S., after skin cancer. Breast cancer can occur both, in men and women. However, it is mostly found among females and the male occurrence of breast cancer is very rare. For instance, according to the data provided by the Breastcancer.org in March 2022, an estimated 287,850 new cases of invasive breast cancer were diagnosed in women in the U.S., along with 51,400 new cases of non-invasive (in situ) breast cancer in 2022.

/p>Rapid Technological Advances

Technology is revolutionizing the field of cancer research and precision oncology at a rapid pace. Advanced techniques like next generation sequencing, multiplex assays, machine learning and artificial intelligence are enabling discovery of novel biomarkers and robust biomarker panels. These breakthrough innovations allow detection of cancer mutations, gene fusions, copy number variations and biomolecules with higher sensitivity and specificity. Development of techniques like liquid biopsy makes it possible to non-invasively monitor cancer evolution and response to treatment in real time by analyzing biomarkers in blood or other biofluids. At the same time, miniaturization and digitization is driving the development of portable, affordable detection platforms suitable for point-of-care application. This includes tools like smartphone-based readers and microfluidic chips. Widespread adoption of such technologies in clinical practice would significantly improve accessibility of timely and repeated biomarker tests. Given the fast pace of scientific progress, many more innovative biomarkers and companion diagnostics are in product development pipeline.