Cancer Biomarker Market Boosting Due To Growing prevalence of cancer Till 2025: Grand View Research, Inc.
The
global cancer biomarkers market is expected to reach a
value of USD 33.7 billion by 2025, based on a new report by Grand View
Research, Inc. Growing initiatives for development of drugs targeting novel
cancer biomarkers coupled with the introduction of technologically advanced
companion diagnostic kits is estimated to provide the market with high growth
potential. Increasing awareness about personalized medicines amongst patients
is further anticipated to boost adoption of cancer biomarkers.
U.S. cancer biomarkers market, by application, 2014 - 2025 (USD Billion) |
In
addition, presence of favorable government initiatives for the development of
novel cancer diagnostic techniques is a key factor for market growth. For
instance, the National Cancer Institute (NCI) provides funding to more than 8
research areas pertaining to cancer biomarker development. Cancer Research UK,
Lung Cancer Research Foundation, and National Institutes of Health are some of
the organizations providing funding for biomarker research.
People
with high alcohol consumption, tobacco usage, unhealthy food habits, and
sedentary lifestyle are reported to be 80% more at risk of developing cancer as
compared to other individuals. Infections such as Human papillomavirus (HPV),
Epstein-Barr virus, Hepatitis B virus, and Helicobacter pylori are also been
studied to be related in cancer development.
Browse full
research report on Cancer Biomarker Market: www.grandviewresearch.com/industry-analysis/cancer-biomarker-market
Further
Key Findings From the Study Suggest:
- Breast cancer was the largest segment by
revenue share in 2016 owing to high prevalence of this type of cancer
- Lung cancer is estimated to be the
fastest-growing type due to increasing research activities toward
development of novel lung cancer biomarkers
- Genetic biomarkers, being the highest used and
easily detectable held the majority share of cancer biomarker market by
biomolecule in 2016
- However, epigenetic biomarkers are anticipated
to witness lucrative growth due to increasing focus on finding the role of
epigenetic modifications in cancer development
- Cancer biomarkers are majorly used for
diagnostic purpose owing to their high specificity
- The personalized medicine segment is estimated
to witness fastest CAGR of 15.0% over the forecast period
- North America dominated in terms of revenue
share in 2016 due to established R&D infrastructure and high
acceptance of biomarker-based cancer testing in this region
- Asia Pacific is anticipated to grow at a
substantial growth rate till 2025 with CAGR of over 16.7%
- Some of the major companies in the cancer
biomarkers market are Abbott Laboratories; F.Hoffmann-La Roche Ltd.;
QIAGEN; Thermo Fisher Scientific Inc.; Affymetrix Inc.; Illumina, Inc.;
Agilent Technologies; Merck & Co. Inc.; Hologic, Inc.; Sino Biological
Inc.; and Becton, Dickinson and Company
Browse more
reports of this category by Grand View Research: www.grandviewresearch.com/industry/biotechnology
Grand View Research has segmented the cancer biomarkers market by type,
biomolecule, applications, and region:
Cancer
Biomarker Type Outlook (Revenue, USD Billion, 2014 - 2025)
- Breast
cancer
- Prostate
cancer
- Colorectal
cancer
- Cervical
cancer
- Liver
cancer
- Lung
cancer
- Others
Cancer
Biomarker Biomolecule Outlook (Revenue, USD Billion, 2014 - 2025)
- Genetic
Biomarkers
- Epigenetic
Biomarkers
- Metabolic
Biomarkers
- Proteomic
Biomarkers
- Others
Cancer
Biomarker Application Outlook (Revenue, USD Billion, 2014 - 2025)
- Drug
discovery and Development
- Diagnostics
- Personalized
medicine
- Others
Cancer
Biomarker Regional Outlook (Revenue, USD Billion, 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- Germany
- UK
- Asia
Pacific
- China
- Japan
- Latin
America
- Mexico
- Brazil
- MEA
- South
Africa
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-cancer-biomarkers-market
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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