The Global cancer biomarkers market boasts a total value of $12.4 billion in 2022 and is projected to register a growth rate of 17.7% to reach a value of $28.2 billion by 2030.

The report attributes this growth to the increasing prevalence of cancer, the development of new biomarker detection technologies, and the availability of large amounts of genomic data.

The global cancer biomarkers market refers to the market for diagnostic and prognostic tools that detect cancer by measuring biomolecules such as proteins, genes, and other markers in the body. These biomarkers can indicate the presence of cancer, its stage, and its aggressiveness.

The market for cancer biomarkers is driven by the increasing incidence of cancer worldwide, as well as the growing demand for personalized medicine and targeted therapies. The market is also fueled by the development of new biomarker detection technologies and the availability of large amounts of genomic data.

The market is dominated by North America, due to its well-established healthcare infrastructure, early adoption of new technologies, and high prevalence of cancer. However, the Asia-Pacific region is expected to experience the highest growth rate during the forecast period, due to the increasing incidence of cancer and the growing demand for early cancer diagnosis.

The major players in the global cancer biomarkers market include Roche Diagnostics, Abbott Laboratories, Thermo Fisher Scientific, Illumina, and Qiagen, among others. These companies are investing heavily in research and development activities to develop innovative biomarker detection technologies and expand their product portfolios.

Market Dynamics

Driving Factors

The following are some of the driving factors contributing to the growth of the global cancer biomarkers market:

Rising demand for personalized medicine: The growing trend towards personalized medicine has led to an increased focus on biomarkers that can help identify patients who are most likely to benefit from specific therapies. This has further driven the demand for cancer biomarkers.

Growing investments in research and development: Companies operating in the cancer biomarkers market are investing heavily in research and development activities to develop new technologies and expand their product portfolios. This has led to the introduction of innovative biomarker detection technologies and products, driving market growth.

Favorable government initiatives: Governments across the world are taking initiatives to promote cancer research, diagnosis, and treatment. These initiatives have led to increased funding for cancer biomarker research, as well as the development of policies aimed at promoting early cancer detection, driving market growth.

Restraining Factors

The following are some of the restraining factors that could impact the growth of the global cancer biomarkers market:

Challenges in identifying and validating biomarkers: Identifying and validating biomarkers can be a complex and time-consuming process, involving multiple stages of preclinical and clinical testing. This can increase the cost and time required to develop and commercialize new biomarker tests.

Regulatory challenges: Biomarker tests are subject to regulatory oversight, which can add to the time and cost required for development and approval. Additionally, regulatory requirements may vary across different countries, creating challenges for companies operating in multiple markets.

Limited reimbursement policies: Reimbursement policies for biomarker tests may be limited, especially in low- and middle-income countries. This could limit the adoption of biomarker tests, especially in settings where patients are required to pay out-of-pocket for medical tests.

Challenges Factors

The global cancer biomarkers market faces several challenges, including:

Limited reimbursement policies: Reimbursement policies for biomarker tests may be limited, especially in low- and middle-income countries. This could limit the adoption of biomarker tests, especially in settings where patients are required to pay out-of-pocket for medical tests.

Competition from alternative diagnostic methods: Alternative diagnostic methods, such as imaging and biopsy, can also be used to diagnose and monitor cancer. Therefore, companies operating in the cancer biomarkers market face competition from alternative diagnostic methods.

Ethical and legal issues: The use of biomarkers for cancer diagnosis and prognosis raises ethical and legal issues, such as privacy concerns and the potential for discrimination against individuals with certain genetic markers. These issues could limit the adoption of biomarker tests and could create challenges for companies operating in the market.

Opportunity Factors

The global cancer biomarkers market presents several opportunities for growth and development, including:

Growing demand for non-invasive biomarker tests: Non-invasive biomarker tests, such as liquid biopsies, have the potential to revolutionize cancer diagnosis and monitoring. These tests are less invasive than traditional biopsy methods and could lead to earlier detection and more accurate monitoring of cancer progression.

Rising cancer incidence in developing countries: The incidence of cancer is increasing rapidly in developing countries due to factors such as an aging population and lifestyle changes. This presents an opportunity for companies operating in the cancer biomarkers market to expand their presence in these markets.

Increased government funding for cancer research: Governments around the world are increasing their funding for cancer research, which could lead to the development of new biomarkers and diagnostic tools. This presents an opportunity for companies operating in the cancer biomarkers market to collaborate with government agencies and academic institutions to develop new technologies and expand their product portfolios.

Segmentation Analysis

Cancer Type Outlook

Breast cancer is one of the most common types of cancer in women. Biomarkers such as estrogen receptor (ER), progesterone receptor (PR), and human epidermal growth factor receptor 2 (HER2) are commonly used for the diagnosis and management of breast cancer. Lung cancer is a leading cause of cancer-related deaths worldwide. Biomarkers such as epidermal growth factor receptor (EGFR) mutations and anaplastic lymphoma kinase (ALK) rearrangements are used for the diagnosis and management of lung cancer.

Prostate cancer is the most common cancer in men. Biomarkers such as prostate-specific antigen (PSA) are used for the diagnosis and management of prostate cancer. Colorectal cancer is the third most common cancer worldwide. Biomarkers such as carcinoembryonic antigen (CEA) and KRAS mutations are used for the diagnosis and management of colorectal cancer.

Melanoma is a type of skin cancer. Biomarkers such as BRAF mutations and programmed cell death protein 1 (PD-1) are used for the diagnosis and management of melanoma.

Leukemia and lymphoma are types of blood cancers. Biomarkers such as B-cell lymphoma 2 (BCL-2) and B-cell receptor (BCR) signaling pathway mutations are used for the diagnosis and management of these cancers.

Application Outlook

Diagnostics: Biomarkers are used for the diagnosis of cancer, either alone or in combination with other diagnostic tests such as imaging. Diagnostic biomarkers can help in the early detection of cancer, leading to better treatment outcomes.

Prognostics: Prognostic biomarkers are used to predict the likelihood of cancer recurrence or progression, as well as the expected response to treatment. Prognostic biomarkers can help guide treatment decisions and improve patient outcomes.

Regional Analysis

North America dominates the global cancer biomarkers market owing to the presence of advanced healthcare infrastructure and high adoption rate of novel technologies. The US holds the largest market share in the region due to the high prevalence of cancer and the increasing demand for personalized medicine. According to the American Cancer Society, around 1.8 million new cancer cases and 606,520 cancer deaths were projected to occur in the US in 2020.

Europe is the second-largest market for cancer biomarkers owing to the increasing prevalence of cancer and growing awareness about early diagnosis and treatment. The UK, Germany, France, and Italy are the major contributors to the market growth in the region. The European Union has launched several initiatives to promote cancer research and improve patient outcomes.

Asia-Pacific is expected to be the fastest-growing region in the global cancer biomarkers market due to the increasing incidence of cancer and the growing demand for advanced diagnostic tools. China, India, Japan, and South Korea are the major markets in the region. The market growth is also driven by the increasing investments in healthcare infrastructure and rising healthcare expenditure.

Latin America is expected to witness moderate growth in the global cancer biomarkers market owing to the increasing prevalence of cancer and the growing demand for advanced diagnostic tools. Brazil and Mexico are the major contributors to the market growth in the region. The market growth is also driven by the increasing investments in healthcare infrastructure and rising healthcare expenditure.

The Middle East and Africa region is expected to witness steady growth in the global cancer biomarkers market due to the increasing incidence of cancer and the growing demand for advanced diagnostic tools. The market growth is also driven by the increasing investments in healthcare infrastructure and rising healthcare expenditure. South Africa, Saudi Arabia, and the UAE are the major markets in the region.

Scope Of Report:

The Global Cancer Biomakers Market has been segmented into:

By Profiling Technology

• Omic Technologies
• Imaging Technologies
• Immunoassays
• Cytogenetics-based Tests

By Biomolecule

• Genetic Biomarkers
• Protein Biomarkers
• Glyco-biomarkers

By Cancer Type

• Breast Cancer
• Lung Cancer
• Colorectal Cancer
• Prostate Cancer
• Stomach Cancer
• Others

By Application

• Diagnostics
• Drug Discovery and Development
• Prognostics
• Risk Assessment
• Others

By Region

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
  • Germany
  • France
  • Italy
  • Spain
  • UK
  • Nordic Countries
    • Denmark
    • Finland
    • Iceland
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia-Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Market Players 

The global cancer biomakers market is highly competitive and fragmented, with numerous players vying for market share. Some of the key companies in the market are:

• Abbott Laboratories
• Bio-Rad Laboratories, Inc.
• Bristol-Myers Squibb Company
• Exact Sciences Corporation
• F.Hoffmann-La Roche Ltd.
• Merck KGaA
• PerkinElmer, Inc.
• Qiagen N.V.
• Siemens AG
• Thermo Fisher Scientific, Inc.

Roche is a leading player in the global cancer biomarkers market, offering a wide range of products for cancer diagnosis and treatment. The company's portfolio includes several biomarker-based products, such as HER2, KRAS, BRAF, and EGFR mutation tests, which are used for personalized cancer treatment.

Thermo Fisher Scientific is a leading player in the global cancer biomarkers market, offering a range of products for cancer diagnosis and treatment. The company's portfolio includes several biomarker-based products, such as Oncomine Dx Target Test, which is used for the detection of solid tumor mutations.

Abbott Laboratories is a major player in the global cancer biomarkers market, offering a range of products for cancer diagnosis and treatment. The company's portfolio includes several biomarker-based products, such as Vysis ALK Break Apart FISH Probe Kit, which is used for the detection of ALK gene rearrangement in non-small cell lung cancer.

Qiagen is a leading player in the global cancer biomarkers market, offering a range of products for cancer diagnosis and treatment. The company's portfolio includes several biomarker-based products, such as therascreen KRAS RGQ PCR Kit, which is used for the detection of KRAS mutations in colorectal cancer.

Illumina is a major player in the global cancer biomarkers market, offering a range of products for cancer diagnosis and treatment. The company's portfolio includes several biomarker-based products, such as TruSight Oncology 500, which is used for the detection of genetic variants in solid tumors.

Strategic Developments

In February 2021, Illumina acquired Grail, a company that is developing a blood test for early cancer detection, for $8 billion. This acquisition is expected to strengthen Illumina's position in the cancer diagnostics market.

In September 2020, Qiagen completed the acquisition of the remaining shares of NeuMoDx Molecular, a company that develops and produces automated molecular diagnostic tests. This acquisition is expected to expand Qiagen's portfolio of molecular diagnostics products.

In August 2020, Thermo Fisher Scientific acquired Qiagen for $11.5 billion. This acquisition is expected to strengthen Thermo Fisher Scientific's position in the life sciences market and expand its portfolio of molecular diagnostics products.

In July 2020, Roche announced that it had received FDA approval for its Elecsys® EGFR Mutation Test v2, a blood-based test for the detection of EGFR mutations in non-small cell lung cancer patients.

In March 2020, Illumina and Roche announced a 15-year partnership to develop and distribute in-vitro diagnostic tests based on Illumina's sequencing technology. This partnership is expected to accelerate the development of next-generation sequencing-based diagnostic tests for cancer.

In January 2020, Abbott Laboratories acquired Cephea Valve Technologies, a company that is developing a minimally invasive heart valve replacement system. This acquisition is expected to expand Abbott Laboratories' portfolio of cardiovascular devices and therapies.

These developments, mergers, and investments indicate the growing interest in the cancer biomarkers market and the potential for further growth and innovation in the field.