Cancer biomarkers market to be valued at $28.2 billion by 2026

CHICAGO, May 31, 2022 (GLOBE NEWSWIRE) – According to new market research report “Cancer biomarkers market by type (protein, genetic), cancer (lung, breast, leukemia, melanoma, colorectal), profiling technology (Omics, Imaging, Immunoassay, bioinformatics), application (diagnostics, research and development, predictions), region – global outlook to 2026”, the global cancer biomarker market is expected to reach US$28.2 billion by 2026 from US$12.4 billion in 2021, with a compound annual growth rate of 17.7%.

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Other factors include the growing preference for wireless communication among healthcare providers, the increasing use of personalized medicine, and the increase in research and development activities in emerging countries. Emerging economies such as India and Japan provide lucrative opportunities for players operating in the cancer biomarkers market.

The protein biomarkers segment captured the largest share of the cancer biomarkers market, by biomarker segment, in 2020

Based on the type of biomarkers, the cancer biomarkers market is segmented into protein biomarkers, genetic biomarkers and other cancer biomarkers. The protein biomarkers segment accounts for the largest share of the cancer biomarkers market, mainly due to the increasing technological advancement in emerging countries and the increased focus on personalized cancer therapies.

Lung cancer sector records the highest growth rate during the forecast period

Cancer biomarkers market is segmented into breast cancer, lung cancer, colorectal cancer, prostate cancer, skin cancer, leukemia, thyroid cancer, bladder cancer, lymphoma, kidney cancer, and other cancers on the basis of cancer type. In 2020, the breast cancer segment captured the largest share of the cancer biomarkers market. The large share of this segment can be mainly attributed to the increased use of cancer biomarkers for research and the increase in technological progress in cancer research.

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omics technology captured the largest share of the cancer biomarkers market, by technology sector classification, in 2020

Based on profiling technology, the cancer biomarkers market has been segmented into omics technologies, imaging technologies, immunoassays, bioinformatics, and cytogenetics. In 2020, the omics technology segment captured the largest share of the cancer biomarkers market, mainly due to the increased focus on cancer biomarkers in emerging countries for diagnosis.

Diagnostics segment captured the largest share of the cancer biomarkers market, by application segment, in 2020

On the basis of application, the cancer biomarkers market has been segmented into diagnostics, research and development, forecasting, risk assessment, and other applications. In 2020, the diagnostic segment captured the largest share of the cancer biomarkers market, mainly due to the technological advancements in cancer biomarkers research and better use of research focused on cancer diagnostic biomarkers.

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North America is the largest regional market for cancer biomarkers market

The global Cancer Biomarkers market is segmented into five main regions – North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America captured the largest regional market for cancer biomarkers market in 2020. The large share of North America in this market can be attributed to increased focus on personalized drug development and increased focus of developed countries on cancer biomarkers.

The major players operating in this market are F. Hoffmann-La Roche Ltd. (Switzerland), Thermo Fisher Scientific, Inc. (US), QIAGEN NV (Netherlands), Illumina, Inc. (US), Bio-Rad Laboratories, Inc. (US), Abbott Laboratories (US), bioMérieux SA (US), Becton, Dickinson and Company (US), Merck Millipore (US), Agilent Technologies (US), Myriad Genetics, Inc. (US), Sysmex Corporation (Japan), Hologic, Inc. (US), Quest Diagnostics (US), Centogene NV (Germany), PerkinElmer, Inc. (US), Siemens Healthineers (Germany), Exact Sciences (US), R&D Systems, Inc. (US) ), BioVision, Inc. (US), Olink (Sweden), Asuragen, Inc. (US), Meso Scale Diagnostics, LLC (US), Invivoscribe, Inc. (US), Seegene Technologies, Inc. (South Korea).

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