Cancer biomarkers are substance used to indicate presence of cancer in the body. Cancer biomarkers include a broad range of biochemical entities such as nucleic acids, sugars, lipids, proteins, cytogenetic and cytokinetic parameters as well as whole tumor cells found in the body fluid.
Major factor driving growth of the global cancer biomarkers market is increasing incidence of various cancers globally. Additionally, growing demand for personalized medicine in cancer therapies and increasing use of cancer biomarkers in discovery and development of drugs are other factors expected to propel growth of the global cancer biomarkers market over the forecast period. But, stringent government regulations and high capital costs are major factors expected to restrict growth of the target market over the forecast period.
The global cancer biomarkers market is segmented on the basis of type, tumor type, technology, application, and region. On the basis of type, the target market is segmented into protein biomarker, genetic biomarker, and others. Among the type segments, the protein biomarkers segment is accounted for highest revenue share in the target market over the forecast period, owing to low cost of the protein biomarker tests.
On the basis of tumor type, the target market is segmented into breast cancer, lung cancer, colorectal cancer, melanoma, leukemia, kidney cancer, and others. On the basis of technology, the target market is segmented into omics, imaging, immunoassays, cytogenetics, and bioinformatics. On the basis of application, the target market is segmented on the basis of drug discovery and development, diagnostics, personalized medicine, and others. On the basis of region, the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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North America market accounted for highest share in terms of revenue in the global market, as compared to that of markets in other regions. This can be attributed to increasing use of biomarkers in drug discovery and development by pharmaceutical companies in countries in the region. The market in Asia Pacific is expected to witness considerable growth and is projected to register highest CAGR of XX.XX% over the forecast period, owing to increasing government initiatives for support of drug development programs in emerging economies such as China and India.
Key players in the global cancer biomarkers market include Thermo Fisher Scientific Inc., Bio-Rad Laboratories, Inc., Roche Holding AG, QIAGEN N.V., Illumina, Inc., Agilent Technologies, Inc., Abbott Laboratories, Becton, Dickinson and Company, Myriad Genetics, Inc., and Sysmex Corporation.