According to new market research titled ‘Cancer Biomarkers to 2027 – Global Analysis and Forecasts by Biomarker Type, Profiling Technology, Cancer Type, and Application.’ The global cancer biomarkers market is anticipated to reach US$ 31,206.00 Mn in 2027 from US$ 12,175.69 Mn in 2018. The market is anticipated to grow with a CAGR of 11.1% from 2019-2027. The report provides the trends prevailing in the global cancer biomarkers market and the factors driving the market along with those that act as hindrances.
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The market for cancer biomarkers is expected to grow, owing to factors such as the growing cancer prevalence across the globe, new product launches & FDA approvals, and technological advancements. Moreover, emerging markets in developing countries are likely to have a positive impact on the growth of the market in the coming years.
The global cancer biomarkers market, based on the biomarker type, is segmented into genetic biomarkers, protein biomarkers, and others. In 2018, the protein biomarkers segment held the largest market share of the cancer biomarkers market. This segment is also projected to dominate the market in 2027 due to the remarkable potential of protein biomarkers in cancer diagnostics, detection, and clinical & therapeutic applications and lower price of protein biomarker tests as compared to genetic biomarker tests.
The leading companies operating in the cancer biomarkers market include Bio-Rad Laboratories, Inc., Thermo Fisher Scientific, Inc., F. Hoffmann-La Roche Ltd., QIAGEN N.V., Illumina, Inc., Myriad Genetics, Inc., Hologic Inc., Quest Diagnostics Incorporated, bioMérieux S.A., and Creative Diagnostics among others.
The market has observed various organic as well as inorganic developments during recent years in the cancer biomarkers market. For instance, in May 2019, Roche launched the VENTANA ROS1 (SP384) Rabbit Monoclonal Primary Antibody, an in vitro diagnostic ROS1 immunohistochemistry (IHC) assay. The launch has enabled the company to offer better innovative products in the market.
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– Learn about the driving factors, affecting the market growth.
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This post was originally published on Info Street Wire