Global Cancer Biomarker Testing Market Size, Share, Trends, Growth factors, Top Key Players, Competitive Intelligence 2013 to 2017 and Forecast 2018 to 2024
Global Cancer Biomarker Testing Market Size, Share, Trends, Growth factors, Top Key Players, Competitive Intelligence 2013 to 2017 and Forecast 2018 to 2024
Global Cancer Biomarker Testing Market report offers Market Size, Dynamics, Regional Market Share, Top Key Players, Latest trends, Growth factors, Industry Stats, Historic Market, Business Intelligence, Business Research Reports, Competitive Intelligence 2013 to 2017 and Forecast 2018 to 2024
The cancer biomarker test market is driven by rising prevalence of cancer worldwide. World Health Organization (WHO) stated that cancer is one of the leading causes of mortality and morbidity worldwide, with approximately 14 Mn new cases in 2012. The number of new cases is expected to rise about 70% over the coming 2 decades. In addition, increase in awareness in public and healthcare professionals regarding early diagnostic procedures, rise in government and NGO’s funding for oncology are expected to bolster the cancer biomarker testing market. Furthermore, the development of companion diagnostics and recent breakthrough in detection techniques such as proteomics, metabolomics, genomics and transcriptomics are further expected to boost the cancer biomarker test market. However, high cost for biomarker tests, low detection rates and regulatory policies are expected to hamper the cancer biomarker test market.
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Cancer biomarker testing market segmented based on type of cancer, application, bio molecule and end user
Based on type of cancer, cancer biomarker test market is segmented into
• Cervical cancer
• Lung Cancer
• Collateral Cancer
• Liver Cancer
• Prostate Cancer
• Breast Cancer
• Others
Based on application, cancer biomarker test market is segmented into
• Drug Discovery and Development
• Personalised Medicine
• Diagnosis
• Others
Based on end-user, cancer biomarker test market is segmented into
• Hospitals
• Cancer diagnostic Centres
• Research Institutes
• Others
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The global cancer biomarker test market is expected to grow with significant CAGR during forecast period. Market players are carrying out collaborations, partnerships, and acquisitions as key development strategies to enhance the market share. For instance, in March 2017, Foundation Medicine and Bristol-Myers Squibb entered collaboration to understand tumour profile and its microenvironment to predict patient’s response to cancer immunotherapy. Using Foundation Medicine’s foundation genomic profiling assay, the firm will look at tumour mutational burden and microsatellite instability in patients enrolled in clinical trials for Bristol-Myers Squibb (BMS) cancer drugs. For instance, in October 2016, Arquer Diagnostics Ltd. (Arquer), and University of Sunderland are collaborated to investigate noninvasive specimen preparation techniques that will facilitate the use of Arquer’s MCM5-ELISA test in a wide range of cancers. In April 2016, Stemcentrix acquired by AbbiVe along with its lead late stage biomarker rovalpituzumab tesirine (Rova-T), that helps to identify tumour cells.
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Some of the players in cancer biomarker test market are Thermo Fisher Scientific (Affymetrix Inc.) (U.S.), Abbott Laboratories (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), AbbVie Inc. (U.S.), Arquer Diagnostics Ltd. (U.K.), Illumina, Inc. (U.S.), Qiagen (Germany), Agilent Technologies (U.S.), Merck & Co. Inc. (U.S.), Becton Dickinson and Company (U.S.), and Hologic Inc. (U.S.) to name a few.
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