Global Cancer Biomarkers Market Research and Analysis 2015-2022

Global Cancer biomarkers market is estimated to witness an exponential growth rate of 11.7% during 2017-2022. The growth of the market is backed by the increasing prevalence of cancer coupled with the rising awareness related to the usage of Cancer biomarkers at various stages of cancer. According to WHO, Cancer is the leading cause of morbidity as well as mortality at global level with around 14 million new cases registered in 2012. Over the next two decades, the number of new cases of cases if projected to rise by about 70%. Lack of physical activities, improper diet, frequent sun & UV exposure and increasing consumption of tobacco are some of the key factors that have attributed towards the increasing prevalence of cancer. Around 22% of cancer deaths are caused due to tobacco consumption and is regarded as the key risk factor for cancer. Along with it, few internal factors such as genetic mutation, hormonal imbalance and metabolic mutation also contributes towards the rise in cancer cases which in turn boosts the demand for Cancer biomarkers market. Moreover, increasing demand for clinical diagnosis in cancer’s early stages and growing geriatric population base further propels the usage rates of Cancer biomarkers. Increasing utilization of the biomarkers in surrogate endpoints & drug targets developments, rising interest among researchers & students regarding cancer diagnostic researchers and growing need for the biomarkers in cancer research are few critical success factors for the growth of the global Cancer biomarkers market.

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Technological advancements in the omics technology and rising demand for personalized medicine in therapies of cancer are projected to create growth opportunities for the global market which will attribute significantly towards the market value of the cancer biomarkers. However, poor reimbursement policies and high cost associated with cancer biomarkers are the key factors hampering the growth of the global market. Technical issues related to sample collection as well as storage further impede the growth of the global cancer biomarkers market.

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Global Cancer biomarkers market can be segmented geographically into North America, Asia Pacific, Europe and RoW. In 2016, North America leads the global cancer biomarkers market followed by Europe and Asia Pacific. The growth of the North American market is driven by the increasing government support for biomarkers discovery and development and growing usage of biomarkers in drug discovery & development by the pharmaceutical companies within the region. Early adoption of the omics technology for the discovery of biomarkers and rising demand for personalized medicine have further propelled the growth of the cancer biomarkers market in North America. Furthermore, Asia Pacific is estimated to witness the highest growth rate owing to the favorable government funding for cancer biomarker research and increasing prevalence of cancer within the regional countries. Rising focus of international players in emerging economies and growing demand for advanced healthcare facilities in developing countries such as China and India are the other key factors that have attributed extensively towards the growth of the cancer biomarkers market in Asia Pacific. Growing awareness related to the benefits of biomarkers in treatment of cancer such as its ability to target the patient specific molecular structure to enhance the early stage of cancer detection & screening as well as to detect the cancer type is also expected to boost the growth of the Asia Pacific market in the upcoming scenario.

The report includes detailed market overview, market determinants, company profiling, sector analysis, market segmentation, geographical analysis, patent analysis, strategic recommendations, key company analysis, gap analysis, key findings, market estimations, market insights, analyst insights and predictive analysis of the market.

The key players of Cancer biomarkers market include Qiagen N.V., Agilent Technologies, Inc., Affymetrix, Inc., Roche Diagnostics Ltd., Illumina, Inc., Merck & Co. Inc., Becton, Dickinson and Company and Pfizer, Inc. The key players are constantly focusing on new product developments as well as upgrading their product portfolios to gain a competitive edge over other players. Product launch, geographic expansion and mergers & acquisitions are some of the key strategies adopted by the market players in the past few years. On January 2017, Qiagen N.V. acquired OmicSoft Corporation that provides access to the OmicSoft’s powerful multi-omics data management infrastructure solution and complements Qiagen’s bioinformatics portfolio.

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