The global cancer biomarkers market size is forecast to reach USD 48.20 billion by 2026 on account of the increasing popularity of personalized treatment for cancer worldwide. Biomarkers help to detect cancer at an early stage and facilitate noninvasive diagnosis at high-speed by utilizing different proteomic and genomic markers. As per a recently published report by Fortune Business insights™ titled, “Cancer Biomarkers Market Size, Share & Industry Analysis, By Cancer Type (Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer And Others), By Biomarker Type (PSA, HER-2, EGFR, KRAS, and others), By End User (Pharmaceutical & Biotechnology Companies, Diagnostics & Research Laboratories, Hospitals & Specialty Clinics, and Others), and Regional Forecast, 2019-2026,” the market size was USD 18.94 billion in 2018 and will exhibit a CAGR of 12.4% between 2019 and 2026.
For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/cancer-biomarkers-market-100630
List of Key Cancer Biomarker Market Manufacturers:
- Myriad RBM
- Hoffmann-La Roche Ltd.
- BioVision Inc.
- Thermo Fisher Scientific
- R&D System
- Bio-Rad Laboratories, Inc.
- Sino Biological Inc.
- CENTOGENE N.V.
- Sino Biological Inc.
- Axon Medchem
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The report offers a comprehensive overview of the market and its prime growth trajectories, such as drivers, restraints, challenges, and opportunities. It throws light on recent oncology biomarker market trends, key industry developments, and other interesting insights. The report emphasizes on the table of segmentation based on factors such as cancer type, biomarker type, end user, and geography. The report discusses the list of players operating in the market and the prime strategies adopted by them to gain a competitive edge in the market. For more information on the report, log on to the company website.
Rise in Prevalence of Cancer Worldwide to Augment Growth
The increasing prevalence of cancer is a prime factor boosting the cancer biomarkers market growth. In addition to this, the market is also witnessing a significant rise on account of the growing demand for drug discovery and development for various cancer types. Additionally, many pharmaceutical companies are investing massive amounts into research and development of novel biomarkers for cancer therapeutics. Moreover, many clinical trials and pipeline studies are currently heading towards the end stages of development, and their market entry is likely to attract high cancer biomarkers market revenue in the coming years.
On the flip side, the market may face challenges in terms of reimbursement policies supported by the governments. This is further attributed to the high cost of treatment for cancer, especially in developing nations. Nevertheless, government support in spreading awareness about cancer, and the availability of treatment options for the same are likely to create lucrative growth opportunities for the market in the forthcoming years.
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