The global cancer biomarkers market size was estimated at USD 34.26 billion in 2024 and is projected to grow to USD 113.54 billion by 2034, expanding at a compound annual growth rate (CAGR) of 12.73% from 2025 to 2034.
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Cancer Biomarkers Market: Revolutionizing Oncology with Precision Diagnostics
The global market is witnessing exponential growth, driven by increasing usage in precision medicine and the rising prevalence of cancer worldwide. Cancer biomarkers are biological molecules found in blood, body fluids, or tissues. They are vital in screening, diagnosis, predicting outcomes, and assessing responses to therapy in cancer management, thus transforming oncology. They also indicate the presence of cancer. The rising investments in cancer research and advances in molecular marker identification technologies contribute to market expansion. In addition, the usage of cancer biomarkers is increasing due to the growing awareness of early detection, which further boosts the growth of the market. Early detection decreases the mortality rate and improves patients' quality of life.
Major Trends in the Cancer Biomarkers Market
- Increasing Burden of Cancer: The rising burden of cancer worldwide is a major factor boosting the demand for effective diagnostic and therapeutic solutions, significantly contributing to the growth of the market. According to the National Cancer Institute, cancer is among the leading causes of death worldwide. In 2022, there were around 20 million new cases, and 9.7 million cancer-related deaths occurred worldwide. The number of new cancer cases per year is expected to reach 29.9 million and the number of cancer-related deaths to 15.3 million by 2040. With the increasing global burden of cancer, various health agencies are making efforts to contain this burden. Therefore, the use of biomarkers has increased exponentially in cancer care and management as they help identify the presence of cancer and provide information about the likely course of the disease and the effects of drugs on the body.
- Technological Advancements: Innovations in genomics, proteomics, and bioinformatics are transforming the cancer biomarkers market by accelerating the development of new biomarkers. Hormone receptors, such as HER2 in breast cancer and EGFR in non-small cell lung cancer, help identify differential responses to the therapies and PD-L1 in various malignancies. According to the American Cancer Society, targeted treatments for HER2 chemotherapy are claimed to reflect enhanced life expectancy in HER2-positive breast cancer-treating patients. This biomarker-dependent approach fast-tracks the adoption of precision medicine, enabling better dosing and alleviating the overall disease-associated load on healthcare systems. Furthermore, AI is used in cancer biomarker studies to increase the rate and precision of biomarker identification, and its application is radically changing the field. AI algorithms are used to study high-throughput genomic, proteomic, and imaging data to identify new patterns or biomarkers accurately. According to a report by the National Cancer Institute (NCI), AI-driven tools have the ability to reduce biomarker identification timelines by up to 30%, accelerating the development of diagnostic tests and therapies.
- Growing Demand for Personalized Medicine: There is a high demand for personalized medicines, which boosts market growth. The inclusion of cancer biomarkers into the personalized medicine approach is gradually changing oncology practice since the patients are given treatment plans that are most suitable in terms of effectiveness and toxicity. Markers such as HER2, which targets breast cancer; EGFR, which targets non-small cell lung cancer; and PD-L1 for several malignancies, help identify patients who will benefit from a given regimen(dat). For example, the American Cancer Society stated that therapies aimed at HER2 have shown a significant increase in the survival of patients with HER2-positive breast cancer. Tailored treatments based on individual profiles rely heavily on biomarker testing, thus propelling market growth.
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Insights from Key Regions
Advanced Healthcare Infrastructure Supported North America’s Market Dominance
North America dominated the cancer biomarkers market with the largest share in 2024 due to its advanced healthcare infrastructure. The region also boasts many leading research centers, accelerating the development of cancer biomarkers. The high availability of advanced technologies led to the development of advanced biomarker-based diagnostics and therapeutics. Increased government funding in cancer research due to the significant rise in cancer cases further bolstered the market in the region.
Asia Pacific: The Fastest-growing Region
Asia Pacific is expected to observe the fastest growth during the forecast period due to the increasing prevalence of cancer and rising healthcare investments. Women's cancer is getting worse in the region. According to the report published by the World Economic Forum in October 2023, Asia accounts for 45% of all global breast cancer cases and 58% of cervical cancer deaths worldwide. This highlights the need for effective treatments, further boosting the market. India's National Cancer Control Program and China's Healthy China 2030 Plan are some government initiatives that focus on early cancer detection and prevention, leading to the rapid adoption of biomarker-based diagnosis across the region. Furthermore, rising government investments in precision medicine contribute to regional market growth.
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Market Segmentation
- By type, the breast cancer segment dominated the cancer biomarkers market in 2024. This is mainly due to the increased instances of breast cancer. With the growing burden of breast cancer worldwide, there was a significant increase in breast cancer research, bolstering the segmental growth. For instance, in September 2023, the Breast Cancer Research Foundation (BCRF) announced funding of US$ 60.2 million in breast cancer research in 2023-2024, supporting more than 250 scientists at leading academic and medical institutions across 14 countries.
- By biomolecule, the genetic biomarkers segment led the market in 2024. This is mainly due to their increased adoption in the development of personalized medicine. They play a key role in identifying genetic mutations linked to cancer progression. They also help in early cancer detection.
- By application, the diagnostics segment held the dominating share of the market in 2024. This is mainly due to the increased awareness of early cancer detection and the availability of diagnostic tools. Moreover, advancements in diagnostic technologies augmented the segment.
- By technology, the imaging technology segment dominated the market with the largest share in 2024, owing to the widespread use of advanced imaging techniques for cancer diagnosis and monitoring.
Competitive Landscape
Key players operating in the cancer biomarkers market include Abbott, Sino Biological Inc, Hologic, Inc, Agilent Technologies, Merck & Co. Inc, F. Hoffmann-La Roche AG, Illumina, Inc., Affymetrix Inc, Thermo Fisher Scientific Inc, and QIAGEN. These companies are focusing on strategic collaborations and R&D investments to enhance their biomarker portfolios. Partnerships between pharmaceutical companies and research institutions are accelerating biomarker discovery and commercialization.
In October 2024, MEDiC Life Sciences entered into a research collaboration with Hanmi Pharmaceutical. MEDiC will use its MCAT platform to identify cancer biomarkers for one of Hanmi’s clinical assets in this collaboration. In Young Choi, Head of Hanmi’s R&D Center, stated that “Hanmi is conducting research on various cancer therapeutics, including immuno-oncology and targeted therapies, achieving meaningful results in the clinical development of innovative cancer drugs.” He also stated that collaboration with MEDiC will strengthen the value of Hanmi’s new cancer drugs by improving the possibility of success in clinical trials.
Recent Developments
- In August 2024, Illumina, Inc. received FDA approval for its TruSight Oncology (TSO) Comprehensive Test, a single diagnostic test analyzing over 500 genes to identify actionable biomarkers, enhancing targeted therapy options and clinical trial enrollment.
- In August 2024, Hitachi High-Tech Corporation and Gencurix, Inc. partnered to develop cancer molecular diagnostic testing services by combining core expertise in R&D expertise in diagnostic products, biomarker discovery, and digital technology.
- In June 2023, The U.S. FDA launched a pilot program to reduce risks associated with using laboratory-developed tests to identify cancer biomarkers, emphasizing the role of in vitro companion diagnostics in ensuring safe and effective cancer treatments.
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Segments Covered in the Report
By Type
- Breast cancer
- Prostate cancer
- Colorectal cancer
- Cervical cancer
- Liver cancer
- Lung cancer
- Others
By Biomolecule
- Genetic Biomarkers
- Epigenetic Biomarkers
- Metabolic Biomarkers
- Proteomic Biomarkers
- Others
By Application
- Drug Discovery and Development
- Diagnostics
- Personalized medicine
- Others
By Technology
- Imaging Technology
- OMICS
By Region
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa (MEA)
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