Cancer Biomarker Market is driven by technological advancements: Says GIS

Cancer biomarkers are substances or processes that indicate the presence of cancers in the human body, estimated by collecting samples such as stool, tumor tissue, blood, urine, or other tissues or bodily fluids. Biomarkers may be formed by the cancer tissue itself or by other cells in the body in response to cancer. They enhance cancer detection and assist in high-speed noninvasive diagnosis using genomics and proteomics.

Key Drivers of the Market

The key factor boosting the growth of the market is rising technological advancements in the development of cancer biomarkers. The advancements in arrays and proteomics technologies have addressed the challenges in identifying and understanding the functions and interactions of various proteins. These technological advancements have simplified the process of discovery & development of novel cancer biomarkers to great extent. 

Similarly, the growing preference for personalized medicine is also boosting the growth of the market. Personalized medicine identifies the most beneficial treatment path for individual patients. Cancer biomarkers play a very important role in certain aspects of personalized medicine. Consumables used in cancer biomarker testing enable the identification of these diseases. 

Cancer biomarker diagnostic products are also used as companion diagnostics for several investigational therapies. So, the field of personalized medicine is likely to offer potential growth opportunities for players operating in the cancer biomarkers market.

The protein biomarker segment is likely to dominate the market during the forecast period

The key factors such as increasing research on cancer biomarkers are propelling the growth of the market.

The breast cancer segment is anticipated to dominate the market during the forecast period

The key factors such as the increasing incidence of cancer across the globe are boosting the growth of the market.

The omics technologies are estimated to dominate the market during the forecast period

The key factors such as the increased use of cancer biomarkers for new developments are boosting the growth of this segment.

The diagnostic segment is likely to dominate the market during the forecast period

The factors such as an increase in the application of cancer biomarkers for companion diagnostics will boost the market growth during the forecast period.

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Market Restraints and Challenges

The key factor hampering the growth of the global cancer biomarker market is technical issues related to sample collection and storage. The sample collection is one of the key issues for service providers, followed by access to these samples. Stringent quality control of this sample is essential, and they need to be stored under the right conditions to avoid any loss. Additionally, different samples are required for risk detection, screening, diagnosis, and monitoring processes. 

Likewise, challenges associated with cancer biomarker validation are also hindering the growth of the market. The cancer biomarker validation process comprises evaluation assays for measuring performance characteristics like sensitivity, specificity, and reproducibility. Validation is critical for establishing cancer biomarkers as reliable tools to support development, medical care, and biopharma investment decisions.

Key Companies in the Market

The major key players in the cancer biomarkers market are F. Hoffmann-La Roche Ltd. (Switzerland), Thermo Fisher Scientific, Inc. (US), QIAGEN N.V. (Netherlands), Illumina, Inc. (US), Bio-Rad Laboratories, Inc. (US), Abbott Laboratories (US), bioMérieux SA (US), Becton, Dickinson and Company (US), Merck Millipore (US), Agilent Technologies (US), Myriad Genetics, Inc. (US), Sysmex Corporation (Japan), Hologic, Inc. (US), Quest Diagnostics (US), Centogene N.V. (Germany), PerkinElmer, Inc. (US), Siemens Healthineers (Germany), Exact Sciences (US), R&D Systems, Inc. (US), BioVision, Inc. (US), Olink (Sweden), Asuragen, Inc. (US), Meso Scale Diagnostics, LLC (US), Invivoscribe, Inc. (US), Seegene Technologies, Inc. (South Korea).

Recent Developments
  • February 2022, Onco DNA introduced the Onco Deep Solid Tumor Biomarker Test Kit. The Onco Deep kit, which comprises Twist Bioscience’s enrichment and library preparation solutions, will give labs a complete and reliable solution for performing comprehensive NGS analysis of tumor samples.
  • April 2021, F. Hoffmann-La Roche Ltd., launched Elecsys Anti-p53 immunoassay to assist in the diagnosis of various cancer types.
  • December 2020, Thermo Fisher Scientific (US) received FDA approval for NGS-based companion diagnostic for EGFR Exon20 insertion mutant non-small cell lung cancer tumor tissue.
  • April 2020, Qiagen N.V. launched the therascreen BRAF test as a companion diagnostic to a BRAFTOVI-based regimen in metastatic colorectal cancer.
  • May 2019, Biotech Support Group (BSG) and Leiden University Medical Center (LUMC) have established a research partnership to identify stromal conditioning biomarkers in Cancer.