Hospitals employ the genetic biomarker for a variety of applications. Genomic biomarkers are primarily used for disease diagnosis, treatment, and therapy impact monitoring. Hospitals use Genetic Biomarker primarily for the diagnosis and treatment of cancer. This is mostly due to the fact that an early diagnosis can more effectively avert death.
Genomic Biomarker has become a sophisticated laboratory test for illness diagnosis as the prevalence of chronic disorders has increased. As a result, genomics biomarkers have gained a lot of popularity recently. Also, the government's initiatives to enhance the calibre and accessibility of diagnostic testing as well as the growing demand for early and accurate disease diagnosis are a few other variables that expand the potential for genomic biomarkers across reference laboratories.
Another important application of Genomic Biomarker is in drug development. By identifying genetic mutations that are driving disease progression, researchers can develop drugs that target these specific mutations, resulting in more effective and targeted therapies. For example, drugs targeting the BCR-ABL fusion protein in chronic myeloid leukemia (CML) have been highly effective, resulting in a significant improvement in patient outcomes.
Despite the significant benefits of Genomic Biomarker, there are also challenges associated with their use. One of the main challenges is the cost of genomic sequencing technologies, which can be prohibitively expensive for many patients and healthcare systems. In addition, there are also challenges associated with interpreting genomic data and translating it into actionable treatment plans.
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According to research report the Cancer Biomarkers Market was valued at USD 11.5 billion in 2017 and is estimated to grow at a CAGR of 12.2% during the forecast period, to reach USD 20.4 billion by 2022.
The increasing prevalence of cancer, rising government support for research on cancer biomarkers, growing use of biomarkers in drug discovery and development, and increasing use of biomarker tests for diagnostic purposes are the major factors that are driving the growth of this market.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=202 Browse 268 market data Tables and 37 Figures spread through 249 Pages and in-depth TOC on "Cancer Biomarkers Market by Type (Protein Biomarker, Genetic Biomarker), Cancer Type (Breast, Melanoma, Leukemia, Lung), Profiling Technology (Omics, Imaging, Immunoassay, Bioinformatics), Application (Diagnosis, Prognostics, R) - Global Forecast to 2022"The breast cancer segment accounted for the largest share of the cancer biomarkers market in 2016Based on cancer type, the cancer biomarkers market is segmented into breast, lung, colorectal, prostate, melanoma, leukemia, thyroid, bladder, non-Hodgkins lymphoma, kidney, and other cancers (such as cervical, multiple myeloma, CNS, gastric, liver, pancreatic, oral cavity and pharynx, stomach, and ovarian cancers).
The breast cancer segment accounted for the largest share of this market owing to the high and growing prevalence of breast cancer, increasing awareness about breast cancer, rising number of breast cancer screening programs, and growing research on breast cancer.The genetic biomarkers segment is expected to grow at the highest CAGR during the forecast periodBased on biomarker type, the cancer biomarkers market is segmented into genetic biomarkers, protein biomarkers, and other biomarkers (cell, viral, and carbohydrate biomarkers).
During the forecast period, the genetic biomarkers segment is estimated to grow at the highest CAGR majorly due to advancements in high-throughput technologies, such as next-generation sequencing, which have enhanced the speed and accuracy of genetic biomarker discovery and diagnosis.North America was the largest regional market for cancer biomarkers in 2016North America accounted for the largest share of the cancer biomarkers market in 2017, followed by Europe.
North America is the largest market for cancer biomarkers majorly due to government support (in the US and Canada) for the discovery and development of biomarkers, rising use of biomarkers in drug discovery and development by pharmaceutical companies, adoption of advanced omics technologies for biomarker discovery, and the increasing demand for personalized medicine in the region.Request For Report Sample: https://www.marketsandmarkets.com/requestsampleNew.asp?id=202 The major players operating in the cancer biomarkers market are Abbott (US), Affymetrix (US), Roche (Switzerland), Illumina (US), QIAGEN (Netherlands), Agilent (US), Thermo Fisher (US), Merck (US), Becton Dickinson and Company (US), and Hologic (US).About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues.
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Global Cancer Biomarker Market Research Report: By Types (Protein Biomarker, Genetic Biomarker), By Applications (Diagnostic, Prognostic, Therapeutic), By End Users (Pharmaceutical and Biotechnology Companies, Diagnostic Companies) – Forecast till 2027Market HighlightsMarket Research Future (MRFR) analysed the cancer biomarker market 2020 across the assessment period from 2017 to 2023.
According to MRFR findings, the cancer biomarker market can surge at 15.8% CAGR across the review period.Drivers and ConstraintsThe need for early diagnosis in cancer due to its formidable nature is creating he demand for cancer biomarkers to decide on treatment regime by physicians.
Researchers and reputed investors are observed to fund development of advanced diagnostic solutions for cancer, thus application of cancer biomarker in clinical trials is also observed to increase.
Advancements in oncology studied can add to the market rise.
The diagnostics segment can rise at exponential pace in the years to come.
The imaging segment can rise to earn decent revenue for the global cancer biomarker market.Pharmaceutical, diagnostic tool companies, healthcare IT or big data companies, biotechnology companies, and clinical laboratories among others are end-users based segments of the cancer biomarker market.
Market highlightsDevelopment in this market is driven by increasing cancer prevalence, increased investment in oncology research, technical innovation, expanded usage of cancer biomarkers in drug discovery & production, and funding for biomarker production by the Food and Drug Administration (FDA).
Factors including the adaptation of western lifestyles are also driving the cancer biomarker market.Request Sample Copy:https://www.marketresearchfuture.com/sample_request/5378Cancer treatment is mainly responsible for health care expenses globally, and this is one of the main limiting forces on the global demand for biomarkers for cancer.
Refund complications and the need for urgent processing are also limiting this sector.
The production of cancer biomarkers is associated with high costs and low cost-benefit ratios, making it one of the main constraints of the cancer biomarkers market.SegmentationThe global cancer biomarker market is segmented based on types, applications, and end-users.Based on types, the global market is segmented into protein biomarker, genetic biomarker, and othersBased on the application, the market is segmented into diagnostic, prognostic, and therapeutic.
Due to the rising demand for investment in research and development, the United States is the predominant sector, boosting cancer prevalence rate and vital area considering medical tourism.
The increased government funding for the research and development of biomarkers, augmented demand for precision medicine, and the approval of advanced technology for biomarker discovery are mainly due to a significant share of this geographic category, and Increased use of biomarkers by pharmaceutical firms in that area of drug research and production.Europe contains the most considerable demand for cancer biomarkers, a demand fuelled by the escalating number of clinical trials and the availability of research funds.
