Cancer biomarkers are biological molecules that indicate the existence of cancer in a patient. They are formed either by the cancer cells or by noncancer cells in response to cancer.
The Global Cancer Biomarkers Market is set to witness a growth rate of 6-7% in the next 5 years. Some of the main factors propelling the global cancer biomarkers market include the increasing use of cancer biomarkers in drug discovery and development, favorable funding related to cancer biomarkers, rising research on cancer biomarkers, technological advancements in the development of cancer biomarkers, and the increasing global burden of cancer.
Usage of Cancer Biomarkers Across Different Stages of Cancer Fuels the Cancer Biomarkers Market Demand
Cancer biomarkers are essential for correctly diagnosing and treating cancer at various stages. They are utilized for cancer risk assessment, screening, differential diagnosis, prognosis determination, treatment response prediction, pharmacokinetics/predicting drug doses, and monitoring treatment response. Clinical use of biomarkers for various types of cancer – breast cancer, prostate cancer, ovarian cancer, pancreatic cancer, colon cancer germ cell cancer, and thyroid cancer, amongst others drives its demand.
Increasing Prominence of Cancer Biomarkers in Drug Discovery, Development, and Approval Processes
At every stage of drug discovery and development, biomarkers are being used more and more. The use of biomarkers makes the drug discovery, development, and approval processes more efficient. For the effective treatment of complex chronic diseases (such as cancer), to develop precision medicine and targeted therapies, it is critical to track the molecular basis of disease initiation and development before, during, and after the therapeutic intervention. The necessity to better understand the factors affecting response to drugs has led to an increased demand for additional efficacy, specificity, and safety testing of drugs during new drug development which in turn has bolstered the demand for cancer biomarkers.
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Favorable Funding Environment Set to Drive the Cancer Biomarkers Market
Organizations across the globe are providing funds/grants to identify cancer biomarkers that can treat diseases with unmet needs in order to reduce the burden of cancer.
Cancer Research UK is offering to fund researchers interested in ‘Biomarker Research’. Through their funding scheme ‘Biomarker Project Awards’, Cancer Research UK is offering 3-year funding of up to £100,000 per year for biomarker assay development, validation, and qualification where there is a clear line of sight to clinical implementation
Similarly, the National Institutes of Health (NIH) – Cancer Biomarkers Research Group is offering several funding opportunities for cancer biomarkers
“Cancer biomarker testing is revolutionizing cancer treatment for several types of tumors. The moment we identify a key biomarker and figure out what is driving tumor growth, we can develop treatment strategies that particularly target the tumor abnormality and eventually improve patient outcomes.” – Director, Leading Cancer Center, United States
Organic and Inorganic Growth Strategies Adopted by Players to Establish Their Foothold
The cancer biomarkers market is a developing market noticeable by the presence of both established and new players. Players operating in the market adopt both organic and inorganic growth strategies such as new product/program launches, partnerships, and acquisitions to garner market share.
In March 2022, Vela Diagnostics launched new panels to detect cancer biomarkers
In March 2022, SYNLAB partnered with OncoDNA to provide comprehensive biomarker testing for cancer therapy selection in Germany
Future Outlook of Cancer Biomarkers Market
The cancer biomarkers market is a promising market that is anticipated to gain further momentum in the coming years due to technical progressions in genomic and proteomic technologies (gene array technology, improved two-dimensional gel electrophoresis, new mass spectrometric techniques) and bioinformatic tools that showcase the potential to meet the growing demand for new biomarkers that are both sensitive and specific.
The demand for prognostic and predictive cancer biomarkers is anticipated to rise in order to ensure adequate evaluation and better clinical cancer management. With the growing development of new treatments, there is an increasing requirement for biomarkers that can predict outcomes and direct patients/providers on which treatment options that are most likely to be successful for a specific patient with a particular tumor.
Competitive Landscape Analysis of Cancer Biomarkers Market
The global cancer biomarkers market is marked by the presence of prominent players such as Roche, Thermo Fisher Scientific, QIAGEN, Illumina, Bio-Rad Laboratories, Abbott Laboratories, Sysmex, and others. The foray of players such as R&D Systems, BioVision, Olink, Meso Scale Diagnostics, and others are changing the dynamics of the market and have made the market more competitive.
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