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%.
- 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.
For critical insights on this market, request for methodology here- https://www.factmr.com/connectus/sample?flag=RM&rep_id=4587
Cancer Biomarkers Market Segmentation
Fact.MR has studied the cancer biomarkers market with detailed segmentation on the basis of test type, disease indication and key regions.
“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.”
| Test Type |
|
| Disease Indication |
|
For in-depth competitive analysis, buy now – https://www.factmr.com/checkout/4587
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.
Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2019/05/14/1823788/0/en/Smartphone-based-Pregnancy-Point-of-Care-Testing-Emerging-as-a-Potential-Alternative-to-Lab-based-Diagnostics-Fact-MR.html
Explore Fact.MR’s Comprehensive Coverage on Healthcare Landscape
Lung Management Products Market Forecast, Trend Analysis & Competition Tracking-Global Market Insights 2018 to 2028- https://www.factmr.com/report/2030/lung-management-products-market
Primary Hyperoxaluria Treatment Market Forecast, Trend Analysis, & Competition Tracking – Global Market Insights 2020 to 2030- https://www.factmr.com/report/5257/primary-hyperoxaluria-treatment-market
Surgical AR Systems Market Forecast, Trend Analysis, & Competition Tracking – Global Review 2020 to 2030- https://www.factmr.com/report/5258/surgical-ar-systems-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: sales@factmr.com
Visit Our Website: https://www.factmr.com
