Cancer Biomarkers Market size worth USD 42.4 Billion, Globally, by 2030 at 14.2% CAGR: Verified Market Research®

Cancer Biomarkers Market size worth USD 42.4 Billion, Globally, by 2030 at 14.2% CAGR: Verified Market Research®

PR Newswire

JERSEY CITY, N.J., Aug. 10, 2023

The "Global Cancer Biomarkers Market Size By Cancer Type, By Biomarker-Type, By Profiling Technology, By Application, By Geographic Scope And Forecast" report has been published by Verified Market Research®. The report provides an in-depth analysis of the global Cancer Biomarkers Market, including its growth prospects, market trends, and market challenges.

JERSEY CITY, N.J., Aug. 10, 2023 /PRNewswire/ -- The Global Cancer Biomarkers Market is projected to grow at a CAGR of 14.2% from 2023 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 16.7 Billion in 2022 and is expected to reach USD 42.4 Billion by the end of the forecast period.

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Browse in-depth TOC on "Cancer Biomarkers Market"

202 - Pages
126 – Tables
37 – Figures

Advancements in Cancer Biomarkers Research Drive Market Expansion: Key Players Abbott Laboratories, Thermo Fisher Scientific, and Roche Diagnostics at the Forefront

Due to the convergence of increased research and development activities, rising cancer prevalence, and technological advances in diagnostics, the global Cancer Biomarkers Market is expanding at a phenomenal rate.

Cancer biomarkers, which are essential biological molecules derived from tumour cells or responsive human tissues, are becoming indispensable indicators of cancer processes within the body. These molecules aid in the detection, management, and treatment of cancer. Raising the threshold for accurate cancer diagnoses, molecular biomarkers utilising DNA, RNA, microRNAs, and proteins are becoming integral components of routine diagnostic tests.

The market for cancer biomarkers is propelled by substantial investments from both the public and private sectors. Cancer Research UK's innovative proposal in June 2018 allocating $140,922 annually for the development, validation, and qualification of biomarker assays for cancer clinical diagnoses was prompted by the increasing incidence of brain cancer.

Prominent industry participants are at the vanguard of this transformational wave. Using a combination of financial strength, product benchmarking, SWOT analysis, and key development strategies, Abbott Laboratories, Thermo Fisher Scientific, and Roche Diagnostics are among the major contributors. Utilising their market position and market share, these companies are shaping the future of cancer biomarkers research and applications.

The prevalence and incidence of cancer are functioning as significant growth drivers for the Cancer Biomarkers Market on a global scale. In 2014, according to the Centres for Disease Control and Prevention (CDC), breast cancer accounted for 236,968 diagnoses in women and 2,141 diagnoses in men in the United States. Similarly, Cancer Research UK documented 55,122 new cases of breast cancer in the United Kingdom in 2015, highlighting the need for innovative diagnostics and treatments.

Despite the market's promising trajectory, it confronts difficulties associated with high treatment costs and unfavourable reimbursement policies. In order to maintain the Cancer Biomarkers Market's growth momentum, it is essential to surmount these obstacles. Continual financial investments and technological advancements will be crucial to overcoming these obstacles.

Companies such as Abbott Laboratories, Thermo Fisher Scientific, Biomérieux SA, Illumina, Bio-Rad Laboratories, Roche Diagnostics, Qiagen N.V., Merck & Co., GE Healthcare, and Agilent Technologies are at the forefront of the industry. The financial statements, product benchmarking, SWOT analysis, key development strategies, market share, and market ranking analyses of these industry titans demonstrate their wealth of experience and expertise.

The Cancer Biomarkers Market is poised for remarkable growth, driven by a dynamic interaction between research initiatives, evolving technologies, and increased awareness. As key actors pave the way with their strategic insights and innovative solutions, the future holds the promise of diagnostic and therapeutic advances in cancer.

To get market data, market insights, financial statements and a comprehensive analysis of the Global Cancer Biomarkers Market, please Contact Verified Market Research®.

Based on the research, Verified Market Research® has segmented the global Cancer Biomarkers Market into Cancer Type, Biomarker-Type, Profiling Technology, Application, And Geography.

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