How Has The Cancer Biomarker Market Size Evolved Historically?
The cancer biomarker market has seen considerable growth due to a variety of factors.
• The size of the cancer biomarker market has seen a quick expansion in recent time. The market is expected to rise from $22.19 billion in 2024 to $25.28 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 13.9%. The notable growth during the historic period can be tied to the shift towards personalized medicine, advancements in immunotherapy, evolution of the regulatory framework, concerted research initiatives, and an emphasis on non-coding RNAs.
What is the Forecasted Market Size and CAGR for the Cancer Biomarker Market?
The Cancer Biomarker market is expected to maintain its strong growth trajectory in upcoming years.
• There are predictions of fast expansion in the cancer biomarker market size in the coming years. The growth rate is expected to increase to $45.88 billion by 2029, at a compound annual growth rate (CAGR) of 16.1%.
This growth from predictions can be credited to adoption of patient-oriented diagnostics, the inclusion of biomarkers in clinical tests, development of multiple biomarker panels, research on non-coding RNAs, and the market accessibility of biomarker tests. Upcoming trends to be observed during this period include advancements in the field of genomics, precision medicine strategies, circulating tumor DNA analyses, cutting-edge immunotherapy, and the amalgamation of artificial intelligence (ai).
What Key Factors and Trends Are Driving The Growth Cancer Biomarker Market?
The escalating occurrence of cancer is fuelling the expansion of the cancer biomarker industry. The cancer incidence rate, otherwise defined as the number of new specific site or type of cancers happening in a certain population in a particular year, expressed as cancers per 100,000 susceptible individuals, is on the rise. This surge in cancer incidence is promoting the extensive application of cancer biomarkers. Biomarkers are instrumental in evaluating disease risks, screening for hidden primary tumors, distinguishing benign from malignant symptoms, or differentiating one malignancy form from another. In line with this, the American Cancer Society, a health organization based in the US, released research in January 2022, projecting about 609,360 cancer deaths and 1.9 million fresh cancer cases in 2022. This is roughly 1,670 deaths per day. As such, the mounting incidence of cancer marks a projected acceleration in the growth of the cancer biomarker market in the ensuing years.
What Are The Market Segments In The Cancer Biomarker Market?
The cancer biomarker market covered in this report is segmented –
1) By Biomarkers Type: Protein Biomarkers, Genetic Biomarkers, Other Cancer Biomarkers
2) By Profiling Technologies: Omics Technologies, Imaging Technologies, Immunoassay, Bioinformatics, Cytogenetics
3) By Cancer Type: Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Thyroid Cancer, Kidney Cancer, Other Cancers
4) By Application: Diagnostics, Research And Development, Prognostics, Risk Assessment, Other Applications
Subsegments:
1) By Protein Biomarkers: Tumor-Specific Antigens, Circulating Tumor Protein
2) By Genetic Biomarkers: DNA Mutations, RNA Expression Profiles
3) By Other Cancer Biomarkers: Epigenetic Biomarkers, Metabolomic Biomarkers
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What Trends Are Shaping The Cancer Biomarker Market?
Leading enterprises within the cancer biomarker industry are prioritizing the creation of inventive solutions, such as artificially intelligent cancer biomarkers, to boost the precision of diagnosis and personalize patients' treatment strategies. Essentially, AI-powered cancer biomarkers are biological evidences of cancer that are detected and examined through AI-based methods. For example, Ibex Medical Analytics, a firm based in the United States, unveiled Galen Breast HER2 in September 2023. This artificially intelligent solution was engineered to bolster the consistency and precision of HER2 scoring amongst breast cancer patients. This cutting-edge system assists pathologists by autonomously identifying invasive tumour regions and quantifying HER2 expression in line with the 2018 ASCO/CAP guidelines. The Galen Breast HER2 system uses a unique computational process to evaluate immunohistochemistry (IHC)-stained slides, thereby offering comprehensive visual representations of staining patterns and supporting pathologists in making well-informed treatment choices.
Who Are the Key Players In The Cancer Biomarker Market?
Major companies operating in the cancer biomarker market include:
• F. Hoffmann-La Roche AG
• Thermo Fisher Scientific Inc.
• QIAGEN NV
• Illumina Inc.
• Bio-Rad Laboratories Inc.
• Abbott Laboratories
• bioMérieux SA
• Becton Dickinson and Company
• Merck & Co. Inc.
• Bristol-Myers Squibb Company
• PerkinElmer Inc.
• Siemens AG
• Exact Sciences Corporation
• Novartis AG
• Agilent Technologies Inc.
• Hologic Inc.
• Myriad Genetics Inc.
• Foundation Medicine Inc.
• Guardant Health Inc.
• Natera Inc.
• Sysmex Corporation
• Biocartis Group NV
• NanoString Technologies Inc.
• Veracyte Inc.
• Epic Sciences Inc.
• Cynvenio Biosystems Inc.
• Genomic Health Inc.
• Oncocyte Corporation
• Exosome Diagnostics Inc.
• Grail Inc.
What Are The Regional Insights Into The Cancer Biomarker Market?
North America was the largest region in the cancer biomaker market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cancer biomarker market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
