Global Cancer Biomarkers Market to Expand at a CAGR of 12.2% Through 2025

All News

Cancer accounts for 8.3 million deaths annually. Over the next two decades, 7 out of 10 patients are likely to suffer from this deadly disease. The increasing prevalence of cancer has facilitated extensive research in the diagnosis and treatment of cancer. Governments are increasingly funding clinical trials to assist companies in developing effective diagnostics and treatment for cancer. In April 2016, the National Cancer Institute (NCI) received a federal grant of US$ 5.2 Bn to aid it in its research. Aggressive funding initiatives by governments on cancer diagnostics are boosting the growth of the cancer biomarkers market.

For detailed insights on enhancing your product footprint, request for a sample here – https://www.factmr.com/connectus/sample?flag=S&rep_id=4587

The aforementioned trends are anticipated to leverage growth within the global cancer biomarkers market which is estimated to reach a staggering CAGR of 12.2% during the forecast period (2020-2025). Factors, such as availability of inexpensive and less-invasive prognosis, will further augment demand for cancer biomarkers, propelling the market to hurtle towards a valuation of US$27Bn by the end of the forecast period

Key Takeaways of Global Cancer Biomarkers Market Study

  • Based on test type, the Circulating Tumor Test (CTC) segment is expected to hold the maximum market share (34.7%) during the forecast period. This is followed by the Prostate Specific Antigen (PSA) test, pegged at 22.7%.

For critical insights on this market, request for methodology here – https://www.factmr.com/connectus/sample?flag=RM&rep_id=4587

  • Lung Cancer is the most common type of disease, owing to higher incidence of cigarette smoking. The segment accounts for one-fourth of the total market share. However, breast cancer is becoming equally prevalent. This is attributed to increased life expectancy, rapid urbanization and sedentary lifestyles.
  • North America is set to remain the most lucrative market for cancer biomarkers, due to increased access to healthcare. It is expected to account for more then 2/5th market share, registering an absolute $ opportunity of US$ 5.2 Bn between 2020 and 2025.
  • However, Asia-Pacific is buckling up, owing to increased incidences of cancers in emerging economies. Projected CAGR for Asia-Pacific is estimated at 13.8% during the forecast period.

cancer biomarkers market 03

“The global cancer biomarkers market possesses immense potential for future growth, driven primarily by increased prevalence of cancer and the subsequent investment in its research and development. Favorable government policies, in terms of extending grants, has facilitated path-breaking innovations in the treatment and prognosis of cancers,” concludes a Fact.MR analyst.

For in-depth competitive analysis, buy now – https://www.factmr.com/checkout/4587/S

AI Capabilities and Product Innovations to Shape the Competition Landscape

The global cancer biomarkers market is highly consolidated, with key players such as F. Hoffmann-La Roche Ltd., Abbott Technologies & Merck & Co., Inc. holding the maximum market share. Innovations and product launches constitute their key market strategies. For example, La Roche’s TECENTRIQ prescription medicine has been cleared by the Food & Drug Administration (FDA) to treat patients suffering from non-squamous and squamous non-small cell lung cancer (NSCLC). Smaller players, like Novartis AG, have concentrated on building up their Artificial Intelligence capabilities to detect cancers with zero-error margins. The presence of these market players and their strategies is expected to significantly boost their share in the cancer biomarkers market.

For comprehensive insights on this market adoption, ask an analyst here – https://www.factmr.com/connectus/sample?flag=AE&rep_id=4587

Why Choose Fact.MR?

  1. Deliver updated information on the current industry trends
  2. Available 24/7 to facilitate clients with unbiased solutions
  3. Embrace digital technologies to offer accurate business ideas
  4. Exhaustive supply chain augmentation analysis
  5. Provide reports strictly according to the requirements of the clients

Explore Fact.MR’s Comprehensive Coverage on Healthcare Landscape

Sepsis Diagnostics Market, Forecast, Trend, Analysis & Competition Tracking – Global Market Insights 2021 to 2031: https://www.factmr.com/report/391/sepsis-diagnostics-market

Ultrasound Systems Market, Forecast, Trend, Analysis & Competition Tracking – Global Market Insights 2021 to 2031: https://www.factmr.com/report/60/ultrasound-systems-market

Blood Thawing System Market, Forecast, Trend, Analysis & Competition Tracking – Global Market Insights 2021 to 2031: https://www.factmr.com/report/blood-thawing-system-market

About Us:

Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.

Contact:

US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583

Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
Email: [email protected]
Visit Our Website: https://www.factmr.com

https://industribune.net/