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Cancer Biomarkers Market Size, Share and Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI5550

Cancer Biomarkers Market size was around USD 12 billion in 2022 and is expected to grow at a CAGR of 15-20% from 2023 to 2032. Cancer biomarker is a substance or activity in the body that indicates the existence of cancer. The increasing prevalence of cancer is driving market expansion. According to the American Cancer Society, Inc., there were approximately 1.9 million new cancer cases diagnosed and 609,360 cancer deaths in the U.S. in 2022.

The increasing R&D for cancer diagnosis and treatment is expected to increase the demand for cancer biomarkers, driving market growth during the forecast period. For instance, in September 2022, Oxford Cancer Biomarkers Ltd. (OCB) announced the availability of ToxNav, its patented pharmacogenomics test for predicting genetic susceptibility to toxicity from fluoropyrimidine-based chemotherapy, to physicians in Europe following registration in the EUDAMED database. The European Medicines Agency recommended that all fluoropyrimidine-based treatments be preceded with DPYD testing including 5-FU, Capecitabine, and tegafur.

Based on biomarker type, the protein biomarkers segment is expected to dominate the cancer biomarkers market in 2023 owing to the increasing government initiatives for cancer research, high investments in R&D, and the increasing omics-based studies. In April 2022, researchers at Clarkson University discovered a group of protein biomarkers, which could be utilized to screen breast cancer in breast milk or blood serum. Such research initiatives are expected to propel market value.

Based on cancer type, the breast cancer segment is expected to have the highest market share by 2032 owing to its high incidence and prevalence rate worldwide. According to the Breastcancer.org, breast cancer is currently the most prevalent cancer worldwide, accounting for 12.5% of all new cancer cases each year. In 2022, around 287,850 new cases of invasive breast cancer and 51,400 new cases of non-invasive (in situ) breast cancer were identified in women in the U.S.

Based on application, the prognostics segment dominated the cancer biomarkers market and is expected to retain its dominance over the forecast period. This is attributable to its use in determining the stage and severity of cancer. The diagnostics segment is projected to grow at the fastest rate over the forecast period. The global rise in cancer incidences increases the progression for biomarkers, boosting cancer biomarkers industry expansion.

The cancer biomarkers industry in North America is expected to witness a promising demand due to the increased adoption of cancer biomarkers, increasing approval & certifications for novel products, and the high incidence rate of cancer in the region. For instance, in June 2022, Nonagen Bioscience received CE marking for its Oncuria immunoassay for bladder cancer. Oncuria is the first multiplex urine test of its type, detecting 10 biomarkers in urine that are linked to the presence of bladder cancer.

The prominent players in the cancer biomarkers market include Abbott Laboratories, Bio-Rad Laboratories, Inc., Bristol-Myers Squibb Company, Exact Sciences Corporation, F. Hoffmann-La Roche Ltd., Merck KGaA, PerkinElmer, Inc., Qiagen N.V., Siemens AG, Thermo Fisher Scientific, Inc., Enzo Biochem, Inc., Charles River Laboratories, Eurofins Scientific, Agilent Technologies, Inc., and Bruker.

What Information does this report contain?

Historical data coverage: 2018 to 2022; Growth Projections: 2023 to 2032.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

Frequently Asked Questions (FAQ) :

The cancer biomarkers industry value was worth around USD 12 billion in 2022 and is predicted to expand at a CAGR of 15-20% from 2023 to 2032, driven by the alarming growth in cancer patients worldwide.

The cancer biomarkers industry share from the protein biomarkers segment is estimated to grow substantially during 2023-2032, attributed to the escalating government investments in cancer R&D and omics-based studies.

The cancer biomarkers industry size from the breast cancer segment is slated to record an appreciable valuation by 2032, given the high prevalence rate associated with breast cancer.

The North America cancer biomarkers market is primed to accumulate a decent market share by 2032, aided by the escalating product approvals and increasing burden of cancer in the region.

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