Oncology Biomarker Market Report Expects the Market Value of USD 31.82 BN BY 2026
Posted On November 14, 2019
A recent report on Global Oncology Biomarker Market published by a popular market research company, Value Market Research, expects the market to touch USD 31.82 BN by 2026 with a CAGR of 12.5% from 2020-2026.The market value was estimated to be USD 13.95 BN in 2019. The growing count of the population suffering from cancer has led to the growth of the global oncology biomarkers market. Besides, the funding from the government and the non-invasive method for cancer treatment are factors leading to the growth of the global oncology biomarker market under the study period. The high cost of the biomarkers is the prominent restraint faced by this industry, which might slow down the market growth under the forecast period.
A biomarker is a traceable biomolecule which when present in body fluids such as blood, serum, urine and tumour fluid helps to indicate diseases or any such medical condition such as cancer. Oncology biomarkers are the biomolecules that are secreted exclusively by tumour cells that lead to diagnosis or prognosis of cancer. Oncology biomarkers include protein, muted genes, DNA, mRNA and metabolites that aid in the diagnosis of cancer. Oncology is the term used to study cancer and cancer is a disease which occurs with the abnormal growth of cells resulting in the formation of a tumour. This tumour spreads rapidly to other tissues and body parts and the treatment depends on the stages of the disease and the progression.
The report “Global Oncology Biomarker Market Report By Profiling Technology (Omic Technology, Imaging Technology, Immunoassays, And Cytogenetic-Based Tests), By Biomolecule (Genetic Biomarkers, Protein Biomarkers And Glycol-Biomarkers), By Cancer Type (Lung Cancer, Breast Cancer, Colorectal Cancer, Prostate Cancer, Stomach Cancer And Others), By Application (Diagnostics, Drug Discovery And Development, Prognostics, Risk Assessment And Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2018-2025” covers an analysis on the market and the market flow by providing an outlook on the possible growth opportunities as well as a segmentation covering the profiling technology, molecules, cancer types, applications and the geographical regions.
By the profiling technology, the global oncology biomarker market has been classified into omics technology, imaging technology, immunoassays and cytogenetic-based tests. Omics technology is further sub-classified into genomics and proteomics and as per the report it has been identified to be the leading segment in the classification based on the profiling technology. By molecule, the global oncology biomarker market has been classified into genetic biomarkers, protein biomarkers and glycol biomarkers out of which genetic biomarkers have emerged as the leading segment of this classification. By cancer type, lung cancer, breast cancer, colorectal cancer, prostate cancer and stomach cancer are the types of cancer which are treated with the help of oncology biomarkers. Breast cancer is the type of cancer that occurs on a larger scale as compared to the other types thus, making it the leading segment that utilises oncology biomarkers. By application, the global oncology biomarker market is classified into diagnostics, drug discovery and development, prognostics and risk assessment where diagnostics has been identifies as the leading segment.
North America, Europe, Asia-Pacific, Latin America and Middle East & Africa are the regions over which the oncology biomarker market is segmented in the report. North America has been identified to be the region with the highest oncology biomarker market share majorly due to high occurrence of the disease along with favourable government initiatives in the drug research and development.
The Report Segments Global Oncology Biomarker Market –
By Profiling Technology
Other Omics Technologies
By Cancer Type
Middle East & Africa
Players Profiled In the Report:
Abbott Laboratories, Bristol-Myers Squibb, Eli Lilly and Company, F.Hoffmann-La Roche Ltd., Genomic Health, Inc., GlaxoSmithKline plc, Novartis AG, Merck & Co., Inc., Pfizer, Inc. and Qiagen N.V.
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