What Has Been the Growth of the Tumor Marker Testing Market So Far?
The tumor marker testing market has seen considerable growth due to a variety of factors.
• In recent times, there has been a substantial advancement in the size of the tumor marker testing market. The market worth, which is projected to be $17.18 billion in 2024, will escalate to $18.6 billion in 2025, marking a compound annual growth rate (CAGR) of 8.3%.
Factors contributing to growth during the historic period include an increase in the incidence of cancer, intensified research and development, heightened public alertness towards cancer screenings, advancements in healthcare infrastructure, and an aging populace.
How Will the Tumor Marker Testing Market?
The tumor marker testing market is expected to maintain its strong growth trajectory in upcoming years.
• The market for tumor marker testing is expected to witness significant expansion in the upcoming years, with an estimated value of $25.27 billion by the year 2029, growing at a compound annual growth rate (CAGR) of 8.0%.
This projected growth within the forecast period can be credited to the increasing knowledge about early cancer detection, in addition to growing funds for cancer research, the expansion of personalized medicine, rising healthcare expenditure, and enhanced insurance coverage. The forecast period is also likely to see key trends such as advancements in technology, product innovation, progress in diagnostic technologies, cutting-edge testing solutions, and a rise in strategic partnerships.
Which Factors Are Boosting Growth In The Tumor Marker Testing Market?
The escalating prevalence of cancer is predicted to stimulate the expansion of the tumor marker testing market. Cancer, a condition marked by the uncontrolled multiplication of irregular cells in the body, is seeing an upward trend due to factors like aging populations, heightened environmental exposure, shifts in lifestyle, and refined detection and diagnosis procedures. By analyzing specific substances produced by cancer cells, tumor marker testing assists in diagnosing, monitoring treatment response, and pinpointing recurrence in many cancer types. To illustrate, the American Cancer Society reported in January 2023 that the United States had encountered 1,958,310 new cancer instances and 609,820 fatalities from cancer. In addition, the National Library of Medicine, a medical literature library based in the USA, expected in May 2021 that the worldwide cancer burden would reach 28.4 million cases in 2040, indicating a 47% surge from 2020, resulting in a significant number of fatalities. As a result, the mounting prevalence of cancer is the driving force behind the tumor marker testing market's growth.
What Key Areas Define The Segmentation Of The Global Tumor Marker Testing Market?
The tumor marker testing market covered in this report is segmented –
1) By Product: Biochemical Markers, Oncogenes, Growth Factors, Hormones, Colony Stimulating Factors, Lymphokines, Immunohistochemical Stains, Other Products
2) By Methods: Screening, Imaging, Theranostics, Sigmoidoscopy, Other Methods
3) By Application: Hospitals, Commercial Or Private Laboratories, Physician Offices Or Group Practices, Cancer Clinics, Ambulatory Care Centers
Subsegments:
1) By Biochemical Markers: Alpha-fetoprotein (AFP), Prostate-Specific Antigen (PSA), Carcinoembryonic Antigen (CEA), Cancer Antigen 125 (CA 125), Cancer Antigen 19-9 (CA 19-9), Human Chorionic Gonadotropin (hCG)
2) By Oncogenes: HER2/neu, KRAS, BRAF, EGFR (Epidermal Growth Factor Receptor), c-MYC, p53
3) By Growth Factors: Vascular Endothelial Growth Factor (VEGF), Platelet-Derived Growth Factor (PDGF), Transforming Growth Factor-beta (TGF-ß), Fibroblast Growth Factor (FGF), Insulin-like Growth Factor (IGF)
4) By Hormones: Estrogen Receptors (ER), Progesterone Receptors (PR), Thyroglobulin, Calcitonin, Adrenocorticotropic Hormone (ACTH), Gastrin
5) By Colony Stimulating Factors: Granulocyte Colony-Stimulating Factor (G-CSF), Granulocyte-Macrophage Colony-Stimulating Factor (GM-CSF), Macrophage Colony-Stimulating Factor (M-CSF)
6) By Lymphokines: Interleukin-2 (IL-2), Interferon-gamma (IFN-?), Tumor Necrosis Factor-alpha (TNF-a), Interleukin-6 (IL-6)
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What Trends Are Reshaping The Future Of The Tumor Marker Testing Market?
Prominent corporations in the tumor marker testing market are shifting their attention towards the creation of state-of-the-art tests, including molecular testing solutions, to achieve a competitive advantage. Molecular testing solutions constitute advanced diagnostic procedures that analyze genetic matter – DNA or RNA – to identify mutations, pathogens, or particular biomarkers at a molecular level. For example, in April 2024, RGCC International GmbH, a Swiss company specializing in personalized cancer treatment, introduced Onco-D-clare, a revolutionary cancer detection test. This trailblazing test allows for the detection of cancer before any symptoms emerge by utilizing a blend of molecular biology and artificial neural networks. Onco-D-clare operates by separating peripheral blood mononuclear cells from blood samples and subsequently performing a thorough gene expression analysis on over 90 genes.
Who Are the Key Players In The Tumor Marker Testing Market?
Major companies operating in the tumor marker testing market are:
• Thermo Fisher Scientific Inc.
• Abbott Laboratories
• F. Hoffmann-La Roche AG
• Danaher Corporation
• Siemens Healthineers AG
• Becton Dickinson and Company (BD)
• Quest Diagnostics Inc.
• Agilent Technologies Inc
• Hologic Inc.
• Illumina Inc.
• bioMérieux SA
• Bio-Rad Laboratories Inc.
• Qiagen N.V.
• DiaSorin S.p.A.
• Myriad Genetics
• Ortho Clinical Diagnostics PLC
• Veracyte Inc.
• Biodesix Inc.
• Biocept Inc.
• Proteomedix AG
• OncoCyte Corporation
• Biocartis NV
What Is The Most Dominant Region In The Tumor Marker Testing Market?
North America was the largest region in the tumor marker testing market in 2024. The regions covered in the tumor marker testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
