Cancer Biomarkers Market size is anticipated to surpass USD 33 Billion by the end of 2033, growing at a CAGR of 14% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of cancer biomarkers was USD 13 Billion. The growth of the market can be attributed to the growing patient base of various types of cancers comprising lung, prostate, breast, colorectal, ovarian cancer, and so on throughout the world. For instance, the number of new cancer cases in 2018 in the U.S. was 1,752,735 with the death of 599,589 people. Further, the rising consumer awareness regarding cancer biomarkers, coupled with the radically expanding use of cancer biomarkers for novel drug discovery, is estimated to hike the market growth during the coming years.
In addition to these, factors that are believed to fuel the market growth of cancer biomarkers include the worldwide rise in the geriatric population who are more vulnerable to fatal diseases such as cancer. Therefore, these individuals need the best possible care and prompt treatment for these conditions. According to the World Health Organization (WHO) estimations, the global population of individuals aged 60 and above is predicted to rise from 1 billion in 2020 to 1.4 billion by 2030. The world's population of individuals aged 60 and above is expected to double to 2.1 billion by 2050. Additionally, the growing proportion of research and development activities on cancer biomarkers, coupled with the increasing number of clinical research organizations across the world is expected to propel the growth of the cancer biomarkers market size during the forecast period. For instance, the number of clinical research organizations in 2022 across the world was nearly 3000 with a 0.3% rise from 2021.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
14% |
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Base Year Market Size (2022) |
USD 13 Billion |
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Forecast Year Market Size (2033) |
USD 33 Billion |
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Regional Scope |
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Cancer Type (Breast, Lung, Prostate, Colorectal, Stomach, Other Cancers)
The global cancer biomarkers market is segmented and analyzed for demand and supply by cancer type into breast, lung, prostate, colorectal, stomach, and other Cancers. Out of these segments, the breast cancer segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the rising prevalence of breast cancer on account of unhealthy lifestyles, genetic inheritance, the rising female geriatric population, and exposure to hazardous radiation. As per the World Health Organization, in 2020, about 2.3 billion women are diagnosed with breast cancer, and 685,000 people died across the world.
Profiling Technology (Omics Technologies, Imaging Technologies, Immunoassays)
The global cancer biomarkers market is also segmented and analyzed for demand and supply by profiling technology into omics technologies, imaging technologies, and immunoassays. Amongst these three segments, the omics technologies segment is expected to garner a significant share. The growth of the segment can be attributed to the high efficiency of omics technologies in the diagnosis of cancer, along with the increasing development of profiling techniques for cancer biomarkers, that is anticipated to boost the market’s growth during the forecast period.
Our in-depth analysis of the global cancer biomarkers includes the following segments:
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By profiling Technology |
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By Biomolecule |
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By Cancer Type |
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By Application |
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North American Market Statistics
The North America cancer biomarkers market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed majorly to the rising population count & growing research activities, followed by the surging ratio of health insurance covering various cancer biomarker diagnoses. Furthermore, the rise in personal income and affordability of advanced treatments among people is estimated to fuel the market growth during the forecast period. As per the U.S Bureau of Economic Analysis, the personal income of people in the U.S. rose to USD 71.6 billion at the rate of 0.3% per month, and consumer spending rose to USD 67.5 billion at the rate of 0.4% in August 2022. Further, the rising adoption of cancer biomarkers, along with the proliferation of research and development of novel products to treat cancer are further factors that are estimated to spur market growth in the coming years. In addition, increasing adoption ratio of next-generation sequencing are also anticipated to boost the market growth during the forecast period.
APAC Market Forecast
Furthermore, the Asia Pacific cancer biomarkers market is projected to display notable growth over the forecast period on the back of the accelerating prevalence of cancer in nations such as Japan, and China. For instance, more than 5 million new cancer cases were reported in China in 2020. With almost 850,000 new cases, lung cancer was the most prevalent type of cancer. Moreover, the surge in disposable income, growth in the geriatric population, and increasing investment in the research and development of biomarkers in the form of digital biomarker are some further factors that are projected to expand the global cancer biomarkers market size during the projected timeframe in the region.
Bio-Rad Laboratories, Inc. launched Bio-Plex Pro Human Cytokine Screening Panel, the first validated high-performance multiplex assay. The panel can detect and calculate 48 different analytes associated with heart disease, allergy, cancer, autoimmunity, and others.
F. Hoffmann-La Roche Ltd’s VENTANA FOLR1 (FOLR1-2.1) RxDx Assay, has been approved by the FDA and is designed to help identify patients with epithelial ovarian cancer (EOC) who are suitable for treatment with ELAHERE (mirvetuximab soravtansine-gynx). The results of this test will allow clinicians to make better treatment decisions for patients with ovarian cancer.
Author Credits: Radhika Gupta, Shivam Bhutani
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