The global cancer biomarkers market size is projected to reach a value of US$ 28.23 bn by 2027 and expected to register a promising 11.80% CAGR between 2020 and 2027.
Increasing incidences of various types of cancers all over the globe has caused a rise in the need for cancer biomarkers, thereby providing a healthy impetus to the associated market. Such an increase in this deadly ailment is also due a surge in habits such as smoking and drinking, as well as exposure to high amounts of particulate matter and pollution. With widespread advancements expected to occur in terms of new and efficient equipment used to monitor cancer cases, the global cancer biomarker market too is prophesized to witness an unprecedented progress.
Rising Research on Cancer to Encourage Market Growth
The rising incidence of cancer and the rising research on cancer biomarkers are considered as some of the key factors that are projected to encourage the growth of the cancer biomarkers market in the next few years. In addition, the rising use of cancer biomarkers in drug development and drug discovery and the rising concept of personalized medicine are predicted to enhance the growth of the market in the near future. On the other hand, the low benefit cost ratio and the high capital investment are projected to restrict the growth of the market in the coming years. Nonetheless, the increasing number of opportunities in developing economies and the companion diagnostics are projected to support the growth of the global cancer biomarkers market in the coming few years.
CTC Tests Hold Leading Position as Key Revenue Generating Segment
The global cancer biomarker market is mainly segregated under few categories such as test type, disease indication, and regional analyses. With respect to test type, PSA tests, CTC tests, AFP tests
CA tests, HER2 tests, BRCA tests, ALK tests, CEA tests, EGFR mutation tests, KRAS mutation tests, and others are segments. Under disease indication, breast cancer, lung cancer, colorectal cancer, melanoma, blood cancer, prostate cancer, ovarian cancer, stomach cancer, liver cancer, and others, comprise major segments in eh global cancer biomarkers market.
With respect to the test type, the CTC tests segment accounted for maximum share in the global cancer markers market in 2016. This segment is furthermore expected to continue its leading stance during the forecast period from 2017 to 2025. The main factors responsible for ushering positive growth in the market involve an increase in prevalence of various types of tumors and rising incidences of cancers related to the vital organs. CTC tests also are possess fast processing abilities and provide quality results than other tests, thus being highly preferred by healthcare specialists.
From the perspective of disease indication, the lung cancer segment held topmost market shares in the global cancer biomarkers market in 2016. This segment is further expected to proliferate during the forecast period as a result of several factors. Increasing prevalence of lung cancer in most regions, rising instances of cigarette smoking among the global population, and increasing geriatric population are some of the reasons that are responsible for causing lung cancer on a large scale basis. In addition, several technological advancements are occurring with regards to decreasing side-effects associated with biomarkers tests and early detection of the illness. These advancement too are driving an extensive demand for lung cancer diagnosis from a global perspective.
North America to Lead Global Cancer Biomarkers Market in Near Future
The global market for cancer biomarkers has been classified on the basis of geography into the Middle East and Africa, North America, Latin America, Europe, and Asia Pacific. Among these, North America is predicted to account for a large share of the market and remain in the leading position in the next few years. The high growth of this region can be attributed to the rising prevalence of cancer and the rising health care expenditure. In addition to this, the growing demand for enhanced diagnostic tests and the health care services and technological advancements are some of the other key factors that are predicted to enhance the growth of the overall market in the next few years. On the other hand, Asia Pacific is estimated to register a healthy growth rate in the coming few years, thanks to the rising awareness among people regarding good health. Moreover, the rising geriatric population and the rising disposable income are further projected to drive the Asia Pacific market in the near future.
Abbott Laboratories, Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd, Illumina, Inc., Agilent Technologies, QIAGEN, Merck & Co., Inc., Hologic, Inc., Novartis AG, bioMérieux SA, and Genomic Health, Inc., are key players operating in the global cancer biomarkers market.
The Cancer Biomarkers market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Cancer Biomarkers market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Cancer Biomarkers market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Cancer Biomarkers market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Cancer Biomarkers market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Cancer Biomarkers capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Cancer Biomarkers by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Cancer Biomarkers market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Cancer Biomarkers market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Cancer Biomarkers market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Cancer Biomarkers industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Cancer Biomarkers market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Cancer Biomarkers market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Cancer Biomarkers market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Cancer Biomarkers market. These factors have benefited the growth of the global market for Cancer Biomarkers. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Cancer Biomarkers. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Cancer Biomarkers are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are: