Introduction
Those biomarkers can help us detect, diagnose and track cancer development. They could be proteins, genes or other molecules that cancer cells or the body secrete in response to cancer. The cancer biomarkers market is booming due to biotechnology advances, cancer rise, and demand for early diagnosis and treatment.
Market Overview
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
Cancer Biomarkers Market Drivers
Rising Cancer Incidence:
Growing cancer rates – lung, breast and colorectal cancer among others – are raising the bar for early diagnosis.
Advancements in Biotechnology:
Modern genomics, proteomics and other biotechnology methods allow new biomarkers to be discovered and formulated.
Personalised Medicine:
This is done by finding biomarkers specific to patients, to personalise treatment plans.
Government Initiatives and Funding:
Support and funding from the government for cancer research are driving biomarker-based diagnostic tests to market faster.
Rising Healthcare Expenditure:
Rising medical costs are fuelling new forms of diagnostics such as biomarker tests.
Market Segmentation
By Biomarker Type
By Profiling Technology