Cancer is known to be one of the major causes of death across the world, and the demand for oncology drugs and devices has witnessed steady growth. Increasing efforts to detect and diagnose cancer at an early stage is a major driving force for the global cancer biomarkers market. The research report studies the overall market for cancer biomarkers, its emergence, growth and development over the years, with special emphasis on the forecast period of 2012-2018. It also tracks the current trends that impact the market.
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The comprehensive report provides qualitative and quantitative data pertaining to market size, share, growth, key market players, new entrants, technologies, and government regulations and policies. It also provides current, historic and future statistics to give clients a clear perspective of the prospering industry. Furthermore, the report highlights the factors that govern the cancer biomarkers market, identifying growth accelerators and barriers.
Registering a compound annual growth rate of 14.60% from 2011 to 2018, the market for oncology biomarkers was valued at $13.16 billion in 2011 and is expected to be worth $29.78 billion in 2018. As cancer gains wide-spread prevalence across the globe, there has also been a simultaneous rise in the trend of personalized medicine. Cancer biomarkers are injected in the body to help diagnosis, prognosis and epidemiology. They are used to check the response of the body to a treatment or condition.
Tailor-made treatment regimen, ability to detect and screen tumor cells, non-invasive diagnosis, reduced cost of drug discovery and development processes, and lesser time in clinical trials have made biomarkers popular among cancer patients. In addition to this, technological advances, medical discoveries, initiatives and investments on the part of the government and private organizations, and rising collaborations in the field of biomarker research have propelled the oncology biomarkers market.
On the other hand, high capital investment, and poor reimbursement and regulatory systems are expected to inhibit the industry.
Region-wise, North America led the global market, owing to a thriving IT sector, strong support from the government and agencies such as the Food and Drug Administration (FDA), and rising demand for personalized medicine.
Medicine is an evolving field, and drug manufacturers have been making use of cutting-edge technology and advanced science to introduce life-saving and life-enhancing substances. Some of the established and new market players operating in the global cancer biomarkers market are Correlogic Systems, Inc., Abbott Laboratories, Biocurex Inc., Agendia Bv, Beckman Coulter, Inc., Astellas Pharma US Inc., Dickinson And Company, Becton, Aureon Laboratories, Inc., Affymetrix, Inc., Diadexus, Inc., Biomerieux S.A., Ambrilia Biopharma, Clarient, Inc, and Biomoda, Inc.
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