Biomarkers in oncology along with the assortment of new technologies to identify them are vital in the management of various cancer types.
Cancer Biomarkers Market: Scope
Biomarkers in oncology along with the assortment of new technologies to identify them are vital in the management of various cancer types. The potential in cancer biomarkers market is varied: risk assessment, population-based screening, prognosis, treatment response, and progression of disease. Biomarkers have come to play crucial role across all stage of cancer care, and are on the path to become internalized in routine clinical care. Over the past few years, strides in the cancer biomarkers market have improved detection of cancer in various population cohorts. A wide range of tests include prostate-specific antigen (PSA) tests, Circulating-Tumour-Cells (CTC) tests, AFP tests, CA tests, HER2 tests, BRCA tests, ALK tests, CEA tests, EGFR mutation tests, and KRAS mutation tests. Analysts and experts tracking the development of biomarkers for new and emerging cancer find interesting dynamics in the cancer biomarkers. These dynamics help in understanding how they have shaped the management of cancer in world. Players have thrown their weight behind in establishing clinical validity.
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Cancer Biomarkers Market: Evolutionary Dynamics
Cancer biomarkers are developed to meet the needs of multiple clinical settings. The key cornerstone for development of cancer biomarkers is establishing its analytical validity. Reduction in death rates in most of the cancer has declined over the last ten years in the developing and developed world, particularly in case of breast and colorectal cancer. On the other hand, few cancer has seen constantly declining death rate. Nevertheless, the morbidity of cancer is huge, stimulating relentless research and development of new technologies to identify biomarkers. This is a key factor underpinning the expansion of the cancer biomarkers market. but also in identifying pre-cancerous patients.
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The global cancer biomarkers market stood at US$10.25 bn in 2016, and is projected to touch valuation of US$27.63 bn by 2025-end. The global market is expected to clock CAGR of 11.8% from 2017 to 2025.
Segmentation and Promising Segments:
A better understanding of the emerging avenues and current opportunities in the cancer biomarkers market, the study segments it on the basis of: test type, disease indication, and region.
High Mortality of Lung Cancer Spur Growth in Segment
The key disease indications in the cancer biomarkers market comprise the segments of breast cancer, lung cancer, colorectal cancer, melanoma, blood cancer, prostate cancer, ovarian cancer, stomach cancer, and liver cancer. Of all, the opportunities in the lung cancer is most 2016. The mortality is markedly higher than all others—per the American Cancer Society, it amounts to 25% of all cancer deaths, combining men and women populations. This has called for swift advancements in assays, thereby fueling the growth of the cancer biomarkers market. The emerging array of biomarkers in lung cancer screening programs in developed world to manage the cancer is a key trend bolstering the segmental growth. Patients with small cell lung cancer (SCLC) is also likely to benefit from the use of cancer biomarkers in prognosis.
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Utilization of CTC in Early Carcinogenesis Stokes Its Popularity
Of the various types of tests, CTC accounted for the leading share in the cancer biomarkers market in 2016. The segment is anticipated to continue its dominance streak in coming years. CTC has incredible potential as a sensitive cancer biomarker for early detection, and hence various technologies to identify CTC attract groundswell of attention of industry players and researchers alike. A reason behind the popularity of cancer biomarkers is early carcinogenesis. Various studies have indicated high potential of this biomarker in people with high smoking habits. Patient in whom CTC is detected are usually considered to be high risk cohort that needs constant monitoring. The key clinical proposition for the industry interest in use of cancer biomarkers is symptomatic men and women.
The growing demand for CTC in the cancer biomarkers market also stems from the need for various targeted therapies for various patients. They are mainly used in detection of breast, ovarian, prostate, lung, and renal cancer.
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North America Top Contender
The various regional segments in the cancer biomarkers market are Asia Pacific, Europe, the Middle East and Africa, Latin America, and North America. Of these, North America held the majority of shares in 2016. The popularity of cancer biomarkers is stoked by the rising demand for these in reducing the prevalence of various types of cancer. Governments in this region are committing large-scale investments in the management of cancer. This has led to focus on early detection of cancer and also on monitoring the treatment effectiveness.
High Health Burden Makes Asia Pacific Emerging Market
Meanwhile, Asia Pacific is a promising regional market. The mortality of cancer is substantial across the region, propelling advances in the cancer biomarkers market. Often times, this is due to late detection of the cancer. As a result, there is a large unmet need for rapid assay for detecting various cancer types, especially in less developed economies.
Rapidly aging populations in numerous countries also makes them vulnerable to cancer, thus, proving to a be lucrative avenue for players seeking new revenue streams in the cancer biomarkers market.
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Some of the prominent players in the cancer biomarkers market are BioMérieux, Genomic Health, Inc., Novartis AG, Merck & Co., Inc., QIAGEN, Agilent Technologies, Illumina, Inc., F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc., and Abbott Laboratories.
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