Cancer Biomarkers Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

The cancer biomarkers market was valued at US$ 18,436.36 million in 2022 and is likely to reach US$ 34,857.12 million by 2031 it is estimated to grow at a CAGR of 11.1% during 2022-2031

Biomarker, a biological molecule, is found in blood, tissues, or other body fluids that is a sign of a standard or abnormal process. A biomarker is used to see how well the body responds to a treatment for a disease or condition.

Market Insights

New Product Launches and FDA Approvals along with Technological Advancement Drive Market Growth

Market players are manufacturing a wide range of cancer biomarkers that offer maximum advantages and early diagnosis. In April 2021, Amgen launched the Biomarker Assist, a program to help more patients with metastatic (stage IV) non-small cell lung cancer (NSCLC) gain access to biomarker testing. Biomarker testing at the time of diagnosis is a critical first step in getting patients on the right treatment. Through Biomarker Assist, eligible patients may save on biomarker testing.

Moreover, in March 2022, Vela Diagnostics has launched new focused (60 genes) and comprehensive (525 genes) next-generation sequencing (NGS)-based panels to detect RNA and DNA cancer biomarkers from formalin-fixed paraffin-embedded (FFPE) tissue specimens. The new pan-cancer gene panels include the focused OncoKey SL 60 Plus Panel and comprehensive OncoKey SL 525 Plus Panel.

Furthermore, in December 2019, BioGenex launched three new primary immunohistochemistry (IHC) antibodies including CD8A, CD163, and CD56 for cancer diagnosis.

Additionally, recent advances in cancer immunotherapies have emerged in long-lasting clinical responses in patients. Cancer immunotherapies are rapidly replacing traditional treatment standards and expanding the therapeutic landscape for cancer patients. Researchers are focused on finding molecules in the blood that can signal the appearance of cancers. For the diagnosis of ovarian and prostate cancers, the cancer antigen (CA)125 and prostate-specific antigen (PSA) are used alongside other tests.

Additionally, advancements in high-throughput omics technologies, including genomics, proteomics, transcriptomics, and metabolomics, accelerated the pace of biomarker discovery. Recently, the concept of identifying circulating tumor DNA through a liquid biopsy has moved to clinical reality. The Society for Immunotherapy of Cancer (SITC) reconvened biomarker for an Immune Task Force to review the state-of-the-art technologies, identify current hurdlers, and make recommendations for the field. Therefore, recent technological advancement has enabled many potential biomarkers and renewed in developing new biomarkers and drive the growth of cancer biomarkers market

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Cancer Biomarkers Market: Strategic Insights

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Market Insights - Opportunities

Emerging Markets in Developing Countries to Provide Lucrative Opportunities for Market during Forecast Period

Emerging markets such as Asia Pacific are creating ample opportunities for significant market players to expand their business. Most of the major players focus on emerging countries such as India, China, and others owing to a large number of cancer patients and the growth of medical tourism in developing countries. Most of the emerging countries are preferred place for medical tourism.

As per the Australian Institute of Health and Welfare, 151,000 new cases of cancer are diagnosed in 2021. Furthermore, according to the Malaysia Healthcare Travel Council, in 2021, more than 2 million visited Malaysia for healthcare purposes doubling the medical tourism revenue to ~680 million. The low cost of surgeries and advanced technologies with less waiting time for procedures in the region are likely to boost the demand for cancer biomarkers.

Therefore, growing medical tourism in emerging countries and increasing cancer prevalence in Asia Pacific are anticipated to provide significant growth opportunities to the players operating in the cancer biomarkers market during the forecast period.

Biomarker Type-Based Insights

The cancer biomarkers market, based on biomarker type, is segmented into genetic biomarkers, protein biomarkers, and others. The protein biomarker segment held the largest share of the market in 2022 and is anticipated to register the highest growth rate during the forecast period. 

Profiling Technology-Based Insights

The cancer biomarkers market, by profiling technology, is segmented into omics technologies, imaging technologies, immunoassays, cytogenetics, and bioinformatics. The omics technologies segment held the largest market share in 2022 and is anticipated to register the highest growth rate during 2022–2031.

Cancer Type-Based Insights

The cancer biomarkers market, based on cancer type, is segmented into breast cancer, lung cancer, prostate cancer, leukemia, bladder cancer, and others. In 2022, the other segment held the largest share of the market. However, the lung cancer segment is expected to register the fastest growth rate in the coming years.

Application-Based Insights

Based on application, the cancer biomarkers market is segmented into diagnostics, research and development, prognostics, and others. In 2022, the prognostics segment held the largest share of the market. Also, the same segment is anticipated to register the highest CAGR during the forecast period.

Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the cancer biomarkers market. A few recent key market developments are listed below: 

• In March 2022, Vela Diagnostics has launched new focused (60 genes) and comprehensive (525 genes) next-generation sequencing (NGS)-based panels to detect RNA and DNA cancer biomarkers from formalin-fixed paraffin-embedded (FFPE) tissue specimens. The new pan-cancer gene panels include the focused OncoKey SL 60 Plus Panel and comprehensive OncoKey SL 525 Plus Panel.
• In March 2022, the National Cancer Institute, part of the National Institutes of Health, has launched the Molecular Characterization Initiative for pediatric tumors. This program offers tumor molecular characterization, also called biomarker testing, to children, adolescents, and young adults with newly diagnosed central nervous system tumors who are being treated at hospitals that are affiliated with the Children’s Oncology Group
• In December 2019, BioGenex launched three new primary immunohistochemistry (IHC) antibodies including CD8A, CD163, and CD56 for cancer diagnosis.
• In May 2021, GE Healthcare acquires oncology biomarker maker Zionexa to further develop molecular imaging agents for cancer treatment. The company will develop and commercialise the Zionexa biomarkers and positron emission tomography (PET) imaging agent, Cerianna (fluoroestradiol F-18). Cerianna is approved by the US Food and Drug Administration for use as an adjunct to biopsy for identifying estrogen receptor (ER) positive lesions. It can aid in choosing the best therapies for recurrent or metastatic breast cancer patients.
• In April 2021, Amgen launched the Biomarker Assist, a program to help more patients with metastatic (stage IV) non-small cell lung cancer (NSCLC) gain access to biomarker testing. Biomarker testing at the time of diagnosis is a critical first step in getting patients on the right treatment. Through Biomarker Assist, eligible patients may save on biomarker testing.

Company Profiles   

• Thermo Fisher Scientific Inc
• F. Hoffmann-La Roche Ltd
• Illumina Inc
• Bio-Rad Laboratories Inc
• QIAGEN
• bioMérieux Inc
• Creative Diagnostics Hologic Inc
• Myriad Genetic Inc
• Quest Diagnostics

Report Scope

Cancer Biomarkers Market Regional Insights

The regional trends and factors influencing the Cancer Biomarkers Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Cancer Biomarkers Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Cancer Biomarkers Market Report Scope

Cancer Biomarkers Market Players Density: Understanding Its Impact on Business Dynamics

The Cancer Biomarkers Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Cancer Biomarkers Market are:

1. Bio-Rad Laboratories, Inc.
2. Thermo Fisher Scientific, Inc.
3. F. Hoffmann-La Roche Ltd.
4. QIAGEN N.V.
5. Illumina, Inc.

Disclaimer: The companies listed above are not ranked in any particular order.